1. Failure to Place one’s Online Business Above one’s Job
There is a fundamental rule that governs each of our lives, and that rule says, “You move toward the direction of your most predominant thoughts”. If our most productive hours are channelled in the direction of our job, then our thoughts will be ruled by our job. Our focus and energy will be consumed by our employment. The resultant effect is that one will neglect one’s business, which will correlate to gradual and even instant business failure.Consider this: If you were running an offline business, would any potential partner or investor fathom investing in your business if you operated your business part-time? Certainly not!
A business that is inconsequential to you will evaporate at a rapid rate. A distinguished businessman once said, “As a new start-up you need to mind your own business and not other people’s businesses. When you start your own business it is better to work part-time for others and full-time for you, than to work full-time for others and only part-time for you”.
A business degree will not impart such profound wisdom; as advice of this nature is derived from experience. The mindset of an Entrepreneur should transcend the programmed minds of everyday workers who grind 24/7 for their employers.
2. Failure to Prioritize
If you are wasting time watching television, chatting on Skype, or constantly leaving messages on Facebook, then you are opening the door for your competitors to expand their market share. Adhering to one’s daily operational plan is imperative; time-wasting activities and even people who waste your time should be completely avoided. Prioritizing demands discipline!
3. Failure to be Realistic
Most internet marketers expect to attain financial freedom within a month. In this regard it is pertinent to set pragmatic targets. The majority of offline businesses do not yield positive cash-flow in the first few months, and it would be unrealistic to expect a contrasting outcome in any online business venture.
People who have achieved wealth online did so after many months or years of consistent effort. Instant financial success is usually short-lived. Sustainable success is a gradual process realized over time. It takes time to build a sizable list of customers, it takes time to develop profitable joint venture partnerships, it takes time to optimize a website, it takes time to get quality organic traffic, and it takes time to develop credibility in your sphere of business.
A successful business is moulded in the form of a triumphant athlete; and no athlete rises to the ranks of champion in 30 days.
4. Failure to Maintain Enthusiasm
An optimist is assured he will succeed, but the pessimist awaits failure. Instilling the attitude of a winner within oneself will breed a lifestyle of success. Establishing an online business presents an array of obstacles, and adversity is a reality for every online business owner. It is the positive mindset of an individual that will carry him through the trials, and motivate him in despair. By maintaining your enthusiasm, you will overcome most challenges.
Initially it will be wise to set relatively mediocre financial goals in your internet business that will be easily attained. You can set a benchmark of $100. Once you’ve achieved your goal, reward yourself adequately. Thereafter you can raise the benchmark incrementally. By following this process you are effectively conditioning yourself to consistently meet your targets.