Starting an internet business seems to attract more and more people every day. If you visit forums related with online business, the number of new players increases every day and the most popular topics are “How to start a business online?” or “How to make money on the internet?”
There is a buzz in the online community that setting up an online business is the touchstone to instant riches, overnight success, and the easy way to achieve a dream life, with little or no work. The truth is that only a few have experienced any kind of success and fewer were able to start living only from their online businesses.
This means that succeeding online is some kind of an “urban myth”, something that only very special people is able to, like the so-called “Internet Gurus”? That is not my opinion. I believe that anybody, or virtually anybody, can have success starting a business online if they have the right mindset.
From my analysis, the majority of people fail when starting an online business because of five main questions:
1. Wrong expectations: Usually you start a business online with the expectation to make a lot of money very fast, in a matter of days, weeks or few months. When it does not happen, you feel frustrated and give up;
2. Lack of preparation: Starting your own business online seems so easy that it is almost impossible to fail. That is a wrong approach. The business model is easy but the implementation is difficult. You must educate yourself in a variety of techniques and strategies and be prepared to analyze and act accordingly your market results. When you realize the amount of details you must take care and what you need to learn, you may lost your motivation and give up;
3. Insufficient funding: Although starting a business in the internet does not require a large amount of money, you must be aware that you need to invest some money. In addition, like in other businesses, sometimes you need to invest a little bit more to be able to move forward with increased speed. When you understand that you may need to spend money before make money you may become afraid and give up.
4. Lack of focus: There are many business models and a lot of marketing strategies and techniques. You face every day dozens of new techniques, all claiming to be the one that really leads to immediate success. Because you are not experiencing the success you desire, you start jumping from this technique to another, buying this course, that software, the other “secret” strategy, usually without giving the time that each technique or strategy requires, and after a while you do not know exactly what are you doing. You realize that you had spent a lot of money; you have worked very hard for many hours and made zero dollars. Therefore, you may think this business is not for you and you give up.
5. No plan: Where are you going? What do you want to achieve? Which are your goals? How do you know if you are in the right direction? No matter if you are selling handcrafted wooden boxes, security software, exclusive jewellery or specialized professional services; if you want to start a business online you need to create a plan. You must define your objectives, how to reach them, which are the requirements, what you can do and what you must outsource, how much is the investment, when will you reach the breakeven, what to expect on terms of visits, prospects, opportunities and sales every month, every week. If you do not have a plan, you do not know if you are having any kind of success. You may end up making some money but being spending more then what you make, or you may not make a penny for 6 months but you are being a big success. You may do not know where you are heading. Then you feel lost and give up.
Starting a business in the internet can become a dream and let you have your dream life. However, you must understand that it is still a business. It has the basic needs and requirements of every business. If you do not realize that, it soon becomes a nightmare and by the end of the day, instead of riches, you deplete your credit card in products, software, and courses that will lead you nowhere.
And do not blame the “gurus”. You are responsible for your own expectations. Nobody aims a gun to your head and say, “buy this!” When you see a sales letter for a product that will allow you to have a 6-figure income in one month, you know it is not possible. Nevertheless, you let your own mind trick you.
To have success in online business you must have the right mindset. A business online is not so different from a business offline. It just needs less money to start, has a simple concept, and you can do it from your own bedroom. However, it needs some preparation, some knowledge, and a plan.