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I do not position myself as some ‘super-experienced’ expert when it comes to EVERYTHING to do with starting an online business from home.
In fact, less than 3 years ago, I didn’t know what internet marketing was and didn’t know a single thing about online business. Nor did I believe one could make consistent income using the internet – unless you were a Youtube “star”.
Though I haven’t been ‘at this’ for a decade-long, I have been around long enough to notice that it requires certain traits for one to experience success and not failure when it comes to starting an online business from home.
Starting An Online Business From Home
5 Reason Why People Fail
1. Fear/Not Starting At All
People tend to be very skeptical about things they haven’t tried or aren’t willing to try. (I.e. starting a business on the internet).
You would be amongst MANY if the thought of earning money from the comfort of home has crossed your mind.
It’s easy to get worried about all the potential mistakes – that you never get started at all. This fear of getting started or by overthinking the whole thing is a sure way to fail.
The only way to get better at something is if you start.
Understand that you will more than likely make mistakes. It’s a part of the learning process. As I like to say and firmly stand by: “Do, fail, repeat”.
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2. Lack Of Preparation
As a new online business owner, it is up to YOU to do your research and to plan things ahead. Research is just a part of preparation.
Along with helpful tips and teachings for maintaining and growing an online business, here at EPO, we try to help complete beginners understand where and how they can safely begin building their new business.
From learning the different ways one could make money online, following these effective business models, to researching your audience to better understand your customers beforehand.
3. Lack Of Patience
When it comes to using the internet nowadays, we are used to things happening in an instant (goodbye dial-up).
We can connect with each other in an instant, message friends from across the world with the click of a button, access any information quickly with a simple search.
When we use the internet, we expect instant results.
However, when it comes to starting a long-term business online, having this ‘mindset’ is why so many people fail.
This may partly be due to all of the misleading information and offers out there promising “instant riches”, which usually results in being a scam.
The reality is a successful business will take more than a few months. Maybe a year or two.
Realize that starting a REAL business by way of the internet, takes time and commitment.
4. SOS
SOS or Shiny Object Syndrome.
It’s easy to lose focus when working online and just as easy to chase the next latest and greatest offer, promising to help you secure “instant riches”.
There are numerous things out there for online business owners to use that can help make their business run smoother, faster, or just look better overall.
Do your best to avoid the ‘shiny’ distractions, however.
These are the things that deter you away from either work that you know needs to get done, the overall goals for your business, or both.
Don’t keep chasing “opportunity” after “opportunity”. Staying focused and on track is important.
5. Quitting Too Soon
This would be another common reason why people fail and ties directly into the #3 reason above.
As we discussed, creating a successful business normally happens over time. It may not happen your first month, the second month, or even within your first year.
Why?
Within the first few months, especially if you are new to online business, you are still setting the ‘foundation’ for your new business.
Could you still see results?
Hell yeah! Personally, it took me a full month of learning and applying things to my new business (the site you are on now), to earn my first dollar. $8 to be exact. I haven’t looked back since.
The point here is, you very well could see some promising results within your first year, 6 months, or even first month.
The best part about it is that during this timeframe, you will be learning more and more and sharpening up your skills to have an established business online.
So Keep In Mind
These 5 things tend to be why people fail at starting an online business from home.
My advice to you as an online business owner (future or current), is to come prepared, focus, and persevere even if you aren’t seeing favorable results just yet.
Remind yourself why you started this online business. Think of your customer and continue creating awesome, helpful content for them.
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