Home Based Internet Business - Top 5 Reasons Entrepreneurs FailHome Based Internet Business - Top 5 Reasons Entrepreneurs Fail by Josh Boxer
With over 200,000 people per week joining the home-based business industry, there are some great statistics around that identify why not many will ever make any significant income in this industry. I will talk of what I feel are the top 5 reasons that many will fail and miss the target.
Reason #1 - Not knowing their target markets needs and desires.
This is the business of providing solutions to people. You need to know precisely what your potential consumer wants in order to begin the process of connecting with those people. You cant sell a service or product to someone who has no want or desire for what you're offering.
If you want to do well in the home based business industry, step one is to take out a sheet of paper. Start describing the individual you want to to attract to you. Describe what their age is, what kind of clothes they wear, movies they watch, the things they eat, where they vacation and what kind of home they reside in. Have they got children? You need to have a very clear picture of your target to be able to hit your mark once you pull the trigger in your marketing to them.
Reason #2 - Creating programs without doing market research first.
Not doing market research is much like committing business suicide. That would end up like someone opening a restaurant in a very remote area without having traffic. Unearth where your target market is. Where do they hang out online? What websites do they visit. Don't assume that your target market has to be on Facebook because there are over 400 million users.
Always test before you launch. If your doing pay-per-click, CPA ads or banner advertising, you need to carefully test out your campaigns prior to deciding to ramp them up. Once you have done your research and you have data, then you're able to make an educated decision.
Reason #3 - Not Establishing Enough Trust
It's a must to connect before you pull. Establish trust through offering VALUE FIRST. This is the difference between the seasoned veteran and the newbie who thinks that their product is so hot that everyone will be dying to grab it if they just shove it down peoples throats. Wrong Pal.... Very Wrong.
People want to do business with individuals they know, like and trust, PERIOD!! Case Closed. You must establish trust with time by giving away your best knowledge, tools or systems. Provide individuals with solutions to their problems and you will become a trusted advisor and leader.
Reason #4 - Pitching their offer prematurely.
I am sure you have seen your share of people blatantly pitching their business opportunity, service or product to you. How did you feel about that? Uncomfortable? Mad? Did you feel sorry for that person because they don't have any godly idea how to market. Slow down and remember, provide value on the front-end and everything else will fall into place.
Reason #5 - Not enough confidence in themselves or their product or service.
If you are the type of person who gets stuck when people ask you whether your in MLM, Network marketing, or whatever, you have to get over it. You're in whatever business your in because you chose to be and you had better exude confidence when talking to people. Support your decision to be an entrepreneur.
Your business can never outgrow your self esteem, ever! You had better be on a reading program and putting good stuff in that head of yours. Leaders are readers. What you put in always comes out of your mouth. Ever hang around a group of people that swear and cuss on a regular basis? I watched a movie just the other night "Pride and Glory" with Collin Ferell and Ed Norton. Boy was there some language in that movie. Well shortly after I caught myself swearing over some situation that arose. Why? Because I let that crap in my ear gate.
You have to counter balance the negative you obtain on a daily basis in your head. This is done by being diligent about reading positive books that will help you grow. Mindset, self help and PMA books are the best to put in the memory bank.
If you truly want to be successful in a home based business of any kind, you have to learn how to master the basics. Know your target market, seek information, establish trust, don't be so quick to pitch your offer and be confident in yourself and your product or service.
To Your Success,
Joshua K. Boxer
To Learn The Skills Necessary To Be a Successful Online Marketer And Gain Access To A Complete System To Assist You In Becoming A Successful Entrepreneur, Visit Internet Wealth Pros. To Learn More About Owning Your Own Home Based Business visit my personal blog by clicking on the previous link.
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