Starting a business on the Internet is much simpler than starting an offline business, so a lot of people with no business or marketing experience decide to start their own home-based business online. Unfortunately the majority of them are just wasting their time.
That’s not meant to be harsh; remember that 96% of offline businesses fail too… Most new offline entrepreneurs fail due to insufficient initial capital or insufficient cashflow once the business hits a slowdown or starts to grow too quickly.
Internet entrepreneurs, on the other hand, need very little capital to get started or keep their business solvent through its start-up phase.
No, what usually defeats Internet entrepreneurs stems from their lack of experience running their own business and the resultant lack of focused, concise action.
Think of it this way… If you opened a retail store in your local mall would you just show up when you felt like it, being open different hours on any given day or not even showing up for days at a time? Of course not – but many new online entrepreneurs do exactly that. Would you stay in the back room talking to a friend and ignoring the customers waiting at the cash registers? The online equivalent is spending most or all of your time on any given day chatting on social media sites. Every entrepreneur has the odd day like that, but for too many it becomes a very destructive habit, business-wise.
Yes, it takes a lot of discipline to put in your 3-4 hours a night after your full-time job plus at least one day on the weekend – and a lot of effort to stay focused and on track, especially in the first months when there’s little or no money coming in for all the time you’re investing.
There is a learning curve, but staying focused helps to minimize the time it takes to get started. If you try to follow too many people’s advice, no matter how advanced those people may be, you’ll end up with information overload. The are many different ways to succeed as an Internet entrepreneur, and trying to take pieces from all different methods will leave you with ‘analysis paralysis’ – you’ll be too busy trying to figure what course of action to take to make any real progress.
You’ll know from your first day of research you need a blog and an e-mail list, and that never changes – those are your main focus on an ongoing basis. But too many people lose that focus and go off in a variety of directions. This leads then to frustration and, usually, just hanging out on social media sites or in forums. At that point the would-be entrepreneurs are still putting in the hours but no longer getting anywhere.
They’re no longer workers – they’ve become lurkers.
Lurkers are easy to spot – they’re the ones with all the negative comments in forums and on social media sites, constantly telling people that online marketing is all a scam… Ignore them, stay a worker, focus on what it takes for YOU to succeed and join the growing ranks of successful online entrepreneurs in just about every online niche!