It sounds great to have your own internet business – free time, more choice, more money, right? I suspect not for many would-be internet entrepreneurs. So why do so many people struggle for months or even years to make their internet business work for them, rather than the other way round?
Here are one or two reasons I have found which have held me back:
1. Lack of proper education. By education I don’t mean in the traditional sense but in your online education which should never stop. “Formal education will make you a living, self education will make you a fortune” Jim Rohn. Building an online business is fraught with difficulties – not just in learning new skills and tools but in facing your own personal self limiting beliefs, attitudes and personality. You may have a tactic online which has worked in the past but now doesn’t. This means learning new information and changing your habits. You may start blogging and keep it up for a few months and then become disillusioned with your lack of results. Education online is doing things, becoming disillusioned, learning more and trying again. Only by continuing to do this will you succeed.
2. Giving up too easily. I expected an online business to be much easier than it really is. I thought I could just set up a website and press play and suddenly earn a tonne of money. I’ve had some successes and some disappointments, but I will keep going, knowing that each failure or disappointment is a large step towards finding out what works in the long run.
3. Looking for a magic bullet elsewhere – You need to be aware that you could be wasting your time with your immediate efforts. But you also need to be aware that you can also spend the next 10 years jumping from one shiny object to the next and never really giving any of them the required time to make it work. You must keep track of what is working, what suits you personally and how best to merge the two. Track your sales. If you don’t have any sales track your website visits. Track any evidence of small successes and increase them. When I don’t have sales I focus on my website visitors or my email opt-ins, or my YouTube subscribers. Keep going and don’t get distracted but, you should also be aware of how you spend your time – focus on your activities and not just your results.
4. Lack of direction or motivation – Building an internet business can be tough at times, this can be especially true if you don’t have a lot of support, your friends all have day jobs, and people are trying to talk you out of it! It is especially true if you don’t seem to be getting anywhere despite your efforts. If you have made an expensive hobby out of your internet business, rather than a ‘business’, you will begin to wonder whether there is some other better use for your time. You can become disillusioned and stop working, leading to even poorer results.
5. Limiting beliefs and ‘work’ mentality is too ingrained in your belief system – The 9-5 work mentality is an arbitrary working week which has been created by factory employers. It worked for the industrial age to keep production high. For years employers have worked hard at ingraining a system of control which will police itself – it’s called the ‘work ethic’. Once people ‘buy into’ this, in any given employment, the workers will literally kill themselves trying to ‘one up’ their work mates. Have you ever heard someone explaining how hard they work, how difficult their life is and what a ‘trooper’ they are, only to hear someone else try and ‘outdo’ them?! This can be a counter-productive mentality if you are bringing it with you to your internet business. As a business owner you need to work smart, not just hard but smart too! As an owner your thought processes need to be different. Work hard but also work smart. Concentrate on money producing activities.
6. You just do the things that you like and have a ‘nice’ time – We choose an internet business often to avoid having to have a ‘boss’, dealing with difficult people and so we can do our ‘own’ thing. However, sometimes our ‘own’ thing doesn’t serve us and if we don’t turn a profit fast we will soon be back in the office being shouted at, or worse still, never escape it in the first place! You need to make sure your efforts are directed towards making your online business pay for itself and then make profit. If you just like watching Jeremy Kyle with the laptop on you lap and having a cup of tea, that’s not going to move your business forwards. For ages I just wrote articles and nothing happened. I felt ‘comfortable’ writing but it wasn’t generating any results in my business. I was just being a ‘busy fool’! Don’t be a ‘busy fool’. Find out what works and then do those things, concentrate on money producing activities.
7. Your ‘busy-ness’ is getting in the way of your business – You’re trying really hard with your business, putting in the hours but you just don’t seem to be getting anywhere. Notice what results your actions are generating. Track your leads and website visitors. Are you interacting with people or are you hiding in the shadows? The danger with your own business is that you can spend all day doing meaningless activities which don’t create any value, bring anyone to your product/s or inspire anyone. Or that your message is falling on deaf ears because the internet is so full of people shouting the same message as you.
Here are one or two solutions to these problems:
1. You need to be accountable to someone with your internet business. If it’s just you then you will let yourself off the hook too easily. Find other people with similar goals to you and connect with them in whatever way you can.
2. Join a community of people who are in the same business. If your friends and relatives have normal jobs it can be very isolating. Reach out to others in the same boat and you will find they have similar goals, problems and interests. You can help each other move forwards.
3. Concentrate on money producing activities. Don’t waste your time, it’s the most valuable thing you have. When you are learning you will spend 80% of your time on watching videos and perhaps only 20% on implementing what you have learned. Once you know what you’re doing it should be 80% spend on productive activities and only 20% on study. Don’t get caught up in compulsive study without action.
4. Find a mentor who will keep you on track. Once I found a mentor everything changed because I knew that I needed to stick to a certain path if I was to get anywhere. Before that I kept jumping from one idea to the next and never really had a game plan.
5. Keep the job until your online business makes more, consistently, than your job. An internet business takes time, money and energy to keep moving forwards. Be consistent in your efforts but don’t bail until it has proven itself. Keep the job as a reason to keep building the internet business.
6. Work SMART and HARD on your business. It’s not enough to just keep doing a little each day and hoping for the best. You need to keep learning and improving at the things which matter in your business and produce results. Don’t be a ‘busy fool’ and don’t get caught up repeating behaviors which don’t produce results.
If you’re looking for a way out of your current employment or are currently struggling with a business and want to learn the tools, systems and procedures to build your own internet business from scratch, take a look at this page and sign up for a free video series which explains more.