These 3 Things Will Cause Your Online Home Business To Fail
Over the past few years, more and more people have been buying goods and services online and this is great news for entrepreneurs who want to start an online business from home. But unfortunately, research shows that more than 90% of all online home businesses fail within the first 120 days. These home based entrepreneurs dive in head-first and try to start an online business with no planning, no understanding of what they are doing, no training and, ultimately, no chance of success.
Of course, success is possible. There is that other 10% that do succeed. The thing is, success for an online home business doesn't happen by accident and there are 3 major factors that always lead to failure.
1. Wrong Ideas About The Internet.
Success comes to people who have the right ideas about how an online home business on works. They do not expect to get rich quick or be able to make a killing overnight and retire to a tropical island. For some unknown reason, a lot of people think that when you start an online business you just have to get a website built and then sit back and wait for the money to come rolling in. They couldn't be more wrong.
A legitimate online home business needs determination and hard work. You cannot earn an income by just pushing a couple of buttons on your computer for a few hours each day.
Whilst it is true that well established internet marketing professionals do not have to put in long hours on their businesses, it didn't happen overnight for them and it won't happen overnight for anybody. You have to be prepared for the time and investment that must be made in order for an online home based business to become successful.
2. Not Treating It Like A Business.
Every business has two elements in common. They are a business and they must be run like businesses! It is no different for an online home business. A formal business education is not essential for an internet business entrepreneur be successful but if you find it tricky managing your personal finances, you may have difficulty when starting your own online business.
All successful businesses work on proven business principles. Successful businesses don't happen by accident. The evidence is in the numbers. It is not even reasonable to assume that you'll make a profit from a new business enterprise for at least a couple of months.
You must have sufficient resources and funding available to not only launch your online home business but provide for your own personal needs for an extended period of time. It's called 'capital' and there is no way around the need for enough of it.
3. Having The Wrong Attitude.
Your attitude and mindset is vital when you start an online business. A good mindset can't guarantee success but a poor attitude and a bad mindset can undoubtedly guarantee failure.
For instance, you may imagine that you'll get rich quick. Even though it is possible to generate a very comfortable living via the internet, if anyone ever tells you it is fast or easy, they're not telling you the truth.
Another bad mindset and attitude is thinking that you don't need a business plan. A work from home online business is still business. All of the same business concepts that apply to brick and mortar businesses also apply to online businesses. It is crucial that you have a plan for success which is structured around good business principles.
About the Author
Success in business is mostly about marketing, especially online. Great marketing can sell an average product but poor marketing cannot sell a great product. To learn more about marketing that will work for your business and how to find the right products to sell and the right customers to buy them, visit http://www.jonallo.com
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