Top 7 Deadly Sins Of The Home Based Business Owner
By John Hood
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Why do 95 - 98% of all home based Business fail within the first 3 months? What are the most common mistakes made by rookies? A home based business is just that, a BUSINESS. It is not a hobby or a get rich quick think or I'll try it and see how it works out thing. It must be treated with all due respect of any business. Here are seven deadly sins of the beginner.
- No business plan.
So many people, especially those who sign up motivated by hype, do not even think about how they will run their new business. Your plan will need to Include several key elements. How will you advertising and how much should you spend on advertising. How will you attract prospects? Will you uses out sourcing? How much time will you have to devote to your business. What are your resources? If you fail to plan you plan to fail.
- Fail to implement the Plan.
If you can not follow instructions from others who are having success you will waste a lot of time and money taking half measures. Take your business plan and the steps you are provide and “GETER DONE”. Most people don’t implement because of fear of the unknown. It is ok, push into that place wear you are uncomfortable until it feels ok. Then do it again and again and again. You must implement your websites, advertising, auto responders and all the tools you need to attract prospects. You must communicate with them and build relationships. Your business will not run itself. If someone tries to convince you that their system will work on it’s own they are in never never land.
- Hesitating to advertise.
Waiting until you think all your mediums are just the way you want them. Your website just right or your videos just the way you want them. Everything is a work in progress. As you work with your team you will be given tips and hints on how to start. Place your ads develop you websites and videos and go for it. This is the only way you will find out what works for you and what dose not. But if you wait, I can guarantee you what will happen (NOTHING). As you begin to learn what is not working you tweak and tweak some more until it begins to work.
- Hesitating because of a lack of knowledge and success.
Well if we all took this attitude no one would be successful. First no one that is starting a new business, job or any venture is completely up to speed on all aspects of their task. That is why the team support is so important. You will have access to multiple resources that will give you all the information you need. If you wait to implement anything until you can show some success you have already failed, you are putting the cart before the horse. If you do change your plan later when you are successful and decide to show off the; nice car, vacation home, jewelry, then what are your prospect going to think they have to do? You are placing them in an awkward spot of trying to duplicate something they don’t have yet. So go forward with what you have, use the team for support, and grow your business by helping others and you will succeed.
- Not being dedicated to your Business.
If you think “I’ll try it out and see if it works”, don’t even sign up. This way of thinking has already doomed you to failure. You must be dedicated to your business 110 %. “In for the long haul”, as they say. You must make up your mind that you are going to give it your all for as long as it takes to succeed. You must be dedicated to self development, further education, seminars, reading and study. As a Real Estate agent I was required to attend classes every year. You must continue to grow and change with the times or you will fall behind and your success will suffer. To obtain the correct mindset you need to read books like; The Go Giver, The world greatest network marketer, Secrets of the Millionaire Mind. You will need to stay tight with your team and attend; training calls, summits and conferences. A home business is a serious venture not something to try and see.
- Quit because of frustration.
This can occur as a result of all of the above. If you do not take this opportunity serious it won’t take long before you are frustrated and ready to give up. We call these the 98 percenters. They start off very excited. They get ready to start their business with a lot of busy work. They order leads and talk to friends and family, Who make fun of them, and no one is interested. After two or three weeks they have no sales and decide they have been scammed. They are looking for someone to blame for their failure. Lets be realistic, owning and running a business is going to take some effort. You will need to learn about internet marketing technology, communications, advertising and many more skill sets. To become effective and efficient you will have a learning curve. These are things you must do on your own, but with assistance. If you are not willing to work at obtaining the skills and mind set necessary you will fail.
- Neglect personal development.
I have saved the most important for last. Many business owners fail because of this mistake. Success has it’s foundation in your mind. You must transform your thinking to produce new habits and behaviors that in turn will achieve wealth and prosperity in your life. Taking time to read and meditate 30 – 60 minutes a day is essential to this process. I recommend starting with a gratitude list, write down everything you are grateful for and each day add something from that day to your list. To enhance a relationship make a gratitude list about the person you wish to get closer to and watch things change between you. Next create a goals list, not a to do list, but a list of things you wish to achieve and obtain. After this make a dream board. Take your goals list and create a collogue with pictures of your dreams, and place it were you can see it everyday. Last, be sure to RAED inspirational and developmental books. The best way to learn is from others who have had success.
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Article Submitted On: September 30, 2008