What are the 5 most common mistakes home business owners made and how can we avoid their pitfalls?
I mean owning a Home Based Business shouldn’t be rocket science but why is it so many fail to earn a living online?
Well it is no secret that only 3% make 75% of the income affiliates and network marketers earn online, and only 4-6% will earn a full time income and less than 40% will make any substantial sum of extra money. Avoiding the 5 top home business mistakes can increase your odds of success.
5 Common Mistakes made by home business owners.
1. Education: We all seem to have a idea that we either know too much or things are too hard to learn. We say things like, “I don’t need to know learn that I have a degree.”, or “I could never learn that in my lifetime, it’s too hard”. What you need to realize is that a home based business is like nothing the world or school has ever prepared anyone to deal with. While marketing principals do work the tools are majorly different and tracking results is an education itself. But rest assured that everyone who ever made a bunch of money from their home business was just like you starting out. We all knew nothing but all learned as much as we could.
2. Readers really are leaders in home business: Don’t stop at knowing your program and if the company has a getting started section or Launchpad like SFI has make use of it. Devour every word, read as many times or as often as needed until it all sinks in, these companies make millions when you are a success. Once you are done reading company materials hit Wikipedia and Google search and learn everything you are not sure of. Have trouble reading use YouTube as most topics are covered there as well.
3. Time Management: You need to make time for your business even if it is a 15 minute break at work, or half your lunch hour, your fledgling business needs your effort to survive. Think about time wasters and read up on time management to get control of your life and maximize your days.
4. Not willing to invest: Many think that investing equals loss but the truth is nothing loses you money faster than failing to invest in your business. Investing blindly is what loses the most money so read up on things like Search Engine Optimization and Blogging for profits, and Pay Per Click like Adwords or Facebook Ads. Learn to get to the buyers in your PPC targeting and save cost per click. NEVER use broad match terms like Home Business because the competition is too high and it can cost you major money per lead. LEARN to EARN.
5. Not treating your business like a business: This sort of goes hand in hand with time management and that is having a set time in which you focus on your business and a set space you do it in. Have your computer somewhere you can focus, free of distractions if possible and let family know that this time is like having a second job, you are only available in an emergency because a business without effort will never become a genuine business. Also don’t put off your business because you can do it anytime, you need to be available every day for support and other issues that arise and you need time to study those e-books you bought and follow up on tracking your advertising efforts.
As I stated before there is no real rocket science in home business. We all start knowing nothing and must learn everything. Remember how scary it was sending your first E-mail or putting something on your Facebook Profile for people to give feedback on. You probably think nothing of doing those things now and it comes naturally because you faced the fears and got used to the WORK.
Remembering it is your home business and not a JOB or Just Over Broke will make sure you continue to love what you do. Passion is a big secret. Readers can tell if you don’t love the topics you post on so keeping that well organized and uncluttered mind makes sense in more ways than one. You can never write anything good about a business you don’t love doing so pick something awesome.