Who wants to learn how to fail miserably when they start a home business? You might think I’m joking but the truth is that if you understand the attributes, habits, and conditions for failure you can set yourself up for success. Doesn’t it just make sense that if you know what things to avoid then you have a better chance at actually making money when you finally locate that serious home business you’ve been looking for? Of course it does!
I’ve studied the home business industry for the past few years and have come across many success stories but even more stories of failed ventures and opportunities. Over the next few minutes I’m going to share with you the top 5 reasons people fail when they start a home business so you can succeed when you start yours.
Failure #1 – A “See Where The Chips Land” Mentality
If you seriously want to start a home business and make money with it than you absolutely must have a burning desire to make that business successful. When you enter into a make money opportunity with a “we will see what happens” mentality you are better off spending the money on lottery tickets because your chances of success are about the same.
Ask anyone successful how they got that way and 99% of them will tell you that it was through hard work, determination, and a never give up attitude. When is the last time a pro athlete, self made millionaire, or high ranking professional said they got that way by lucking out? It just doesn’t happen that way.
So when you decide to start your own serious home business, make sure you are willing to make a commitment of time, effort, and money into making that business a huge success and not just to see if you luck out and make a quick buck.
Failure #2 – Working But Not Really Working
There are two different types of work that needs to be done when you are running a home business. The first type of work is “busy” work and the second is “advancement” work. Busy work is the stuff that takes up time but really doesn’t do anything to bring growth into your business. Some examples would be; arranging your office, shopping for supplies, checking email, returning messages, going to the post office, etc.
Advancement work is the stuff that brings more clients to your business and puts more money in your pockets. Some examples would be; placing advertisements, crafting sales letters, putting deals together, getting more traffic to your website, etc.
The problem occurs when you consume all your time with busy work and never get to the advancement work that will make your business grow. I know many hard working people who never make a dime with their home business ventures because they don’t manage their time wisely. Bottom line: if you only spend your time on busy work your business will be in serious trouble.
Failure #3 – The Grass Is Always Greener On The Other Side
It’s never hard to be motivated about your new home business in the beginning. It’s exciting, it’s an adventure, and you just can’t wait to be rolling in the dough. Unfortunately that excitement wears off a few months down the road and doubt starts creeping in and you start wondering if you made the right decision.
It is absolutely crucial that when this time comes about you press on and stay focused on your current business at hand. The great thing about most home businesses is the fact that it doesn’t take much of an investment to get started. This can sometimes be a double edge sword though simply because if you have less at stake, it’s easier for you to jump ship and go out searching for something different.
The truth is that the grass isn’t always greener on the other side and most of the time it’s the same if not worse. If you jump from opportunity to opportunity you will never give your self a chance to have serious home business success.
I know people who have been involved with home businesses for 10+ years and never made a dime. I’ve also known people who have been involved and are making serious home business profits. The funny thing is that the people who aren’t making any money have a resume of 25+ opportunities they’ve been with and failed while the successful people have a resume of just a few. Don’t become a home business junkie who jumps from company to company wondering why they never make any money!
Failure #4 – The Blame Game – It’s Never Your Fault
Personal responsibility seems to be something that most Americans seem to forget about these days. For some reason many people think that everybody else is responsible for any occurrences that happen to them, especially the bad ones. This always reminds me of the person who spilled McDonald’s hot coffee on themselves and then sued McDonalds for the coffee being too hot!
When you take on the responsibility of starting a serious home business you need to understand that it is going to fail or succeed because of your efforts. Even if you join the absolute worst home business in the world it’s your own fault if you fail. It’s your fault because you are the one who made the choice to join a really bad home business in the first place.
Successful people take personal responsibility for their mistakes, while unsuccessful people blame others. If you want to really succeed with a home business, realize that your success or failure lies in you and your choices and efforts and that’s it.
Failure #5 – Lack Of A Game Plan
Let’s face it, you’re a busy person. Although I don’t know you personally I bet that you have more than enough things to occupy your time throughout the day. When you start your own home business somehow, someway you need to find a way to fit that business into your already busy schedule. Not in a week, not in a month, but right away!
It is very important to create a game plan for your business right from the beginning for two reasons. First, your plan acts as your road map for success and guides you on where to go. Second, you will start your business with great habits instead of excuses.
If you don’t have a plan put in place you won’t set time aside to build your business, you won’t remember important trainings and functions, and you won’t put forth the efforts needed in order to make your home business a success.
Although it might sound intimidating, creating a game plan really isn’t all that hard. All you need to do is map out a few key things.
#1 – How much time can you commit to your business each week? Write down the scheduled times and what you are going to get accomplished.
#2 – What tools to you need to arm yourself with to be successful? Write down books, meetings, products, or conversations you need to have and with whom.
#3 – What are your realistic goals for the next 12 months? Get with a mentor and map out where you would like to be and the steps you will have to take to achieve those goals.
See, it’s really not that hard and seriously makes all the difference in your success or failure. I never understood why something that would take only a couple of hours to do is avoided like the plague when people to start a home business. It only makes sense to have a plan in place to help you succeed.
So there you have it, the honest truth about how to fail miserably when you start a home business. As you go forward, remember the concepts of a can do attitude, staying on task, personal responsibility and creating a game plan. With these things lined out you should be able to find the right home business for you and than achieve massive success with it. Best of luck!
