Internet Importance in Business
You do realize, of course, that the odds for success are not in your favor. Every day thousands and thousands of internet business enterprises are launched. Of those internet businesses that will be launched today, 90% (ninety percent) will not be around in 120 days. That is right! You have no better than a 10% chance of actually making a success out of your internet business unless you can change them. Those are not very good odds. If it were a horse race, winning would be considered a long shot. That is the down side but anytime there is a downside there is always an upside. The upside in this case is that even though you have only a 10% chance at succeeding, you can greatly increase your odds by simply following the guidelines that have already been offered.
Why Internet Businesses Fail
Day-after-day in real life, millions and millions of individuals drag themselves from the warm, warm beds, take a shower, grab a cup of coffee, and head out to their jobs all the while thinking that there has got to be an easier way to make a living. Among those millions of individuals I would guess you know someone who has quit the ‘get-up-and-go-to-work’ grind and is making a extremely good living by working on their PCs from the comfort of their own homes.
Working from home sounds like an ideal solution to them. Many of these dissatisfied individual will quit their careers and dive head-first into internet marketing without any training, without any knowledge of what they’re getting into, no education, and no promise of success. Failure is their only choice and they do not even suspect. There is a reason why most people fail. I will help you avoid these mistakes.
Naturally, success is possible. There’s several individuals that do succeed in this line of work. The thing is success does not happen by chance. And success is not just a crap shoot. Success happens because of a few extremely crucial factors.
Success happens because individuals have the right ideas about internet marketing and how it works. They don’t expect to get rich quick or be able to make a killing over night. It’s unusual but for some reason the same individuals who would not dream of starting a real world business, think they can make a go of an internet business even though they have no business background.
Individuals will go into an internet business with the idea that they no longer have to get up and go to work. They think they can simply work when they feel like it and still make a Great living. They simply don’t anticipate having to work hard or work long hours. There are three reasons people fail at internet business that stick out.
1. Wrong Perceptions about the Internet
For some unknown reason most individuals think that running a successful internet business is as simple as getting a internet site built and hanging out an ‘open for business’ sign. They could not be more wrong.
Running a successful internet business of any kind calls for self-discipline. Individuals will jump into an internet business and think that they can party all night, sleep until noon and then make a living in three or four hours sitting in front of a computer. They for some reason think that the world is just going to line up on their internet site and fork over money. It is not going to happen.
Internet businesses don’t run on auto-pilot. It’s true that well established internet marketing gurus don’t have to put in long, boring hours on their businesses but it’s a privilege that that has been earned by coming in and putting in a lot of long and demanding hours.
It did not happen overnight for them and it will not happen over night for anyone. Most individuals are entirely unprepared for the time investment that must be made so an internet business can become successful.
2. No Business Background
All businesses have two things in common. They are a business and they must be run like businesses! The individuals who are in charge of a business need to understand acceptable practices of business.
They need to understand simple and basic ideas like acceptable over-head expenses in reference to projected revenue. Internet entrepreneurs need to understand profit and loss and what makes up each. A business degree is not necessary but its absolutely vital to have some business background and understanding. The proof is in the numbers. Not all of internet businesses succeed, and they do not happen by chance. It takes a lot of hard work to get them up and running before you start to see a profit. It is not sensible to expect to turn a profit from a new business enterprise for several months.
You must have sufficient resources available to not only launch your business but provide for your own personal needs for an extended time period. It is called capital ‘and there’s no way around the need for enough of it.
3. The right mindset just isn’t there!
The word ‘attitude’ is a crucial one when discussing internet-marketing start-ups. A great attitude…a good outlook cannot insure success but a bad attitude and a bad mind set can certainly guarantee failure.
Here are some wrong attitudes that will absolutely guarantee failure:
- I can work when I want to. Wrong, wrong, wrong! You cannot just work when you feel like it. You have to expect to put in a lot long and extremely demanding hours of extremely hard work to make a new internet enterprise succeed.
- I can get rich quick! You could not be more wrong and you’re not only wrong but you’re putting yourself in danger as well. There are trillions of crooks out there on the internet who are looking for their next easy mark and if you’re looking for a quick way to get rich, you’re the next mark. It’s possible to make a very comfortable living with internet marketing, but if anyone ever tells you it’s quick or easy, they’re lying to you.
- I do not need a business plan. There you are…wrong yet again. Internet business is still business. All of the same business principles apply to an online business as apply to real world business. It’s imperative that you have a plan for success that’s based upon these sound business principles.
- When you have an internet business of your own, you do not have a boss. Wrong again! You’re your boss. If you aren’t a great boss who sees to it that work is accomplished prompt and in full, you’ll doom yourself to certain failure. Unless you are a boss who arranges a work schedule and establishes goals that must be met, you’ll find yourself working at a job in the real world.
How You Can Avoid Failure
Running a successful internet business can look so easy when you’re on the outside looking in. You look at a successful internet entrepreneur and he doesn’t look like he’s doing anything exceptional but he’s living the great life. It really doesn’t look like he’s working all that hard. He seems to be enjoying life immensely.
This marketer is sitting comfortably in front of his own computer in his own very comfortable home a couple of hours a day. He talks on the phone and seems to be enjoying every conversation. Evidently, running a successful internet business is a ‘piece of cake’! Correct? Incorrect!
You’re looking at the results of a extremely long and demanding process that consisted of several extremely long, late-night hours and a lot of blood, sweat and tears over a time period of many years. It’s extremely probable that he first covered the four foundations first when started the long process of constructing his successful Internet business. Those four fundamentals upon which he built his success are:
- The right outlook.
- Acknowledging and utilizing leverage.
- Constructing a set of valuable contacts.
- Find a mentor.
We’ll discuss these four foundations that must be established first so that a successful internet business can be built. All of them are crucial to the success of any endeavor but particularly to the success of an internet based business.
Building a successful business on the web has several things in common with the constructing of a successful business but there are substantial differences also.
Having the right, healthy outlook:
The success of any business both of the online variety as well as the off line variety demand the right outlook from the get-go. A right and healthy outlook won’t guarantee success but an unseasonable and unhealthy outlook will most definitely guarantee failure. So the right outlook is the first foundation that must be laid upon which a successful endeavor can be built. What is a right and healthy outlook? A right and healthy outlook is the willingness to work as hard and as long as is necessary to reach the goals that have been set.
Those who believe that they can make an internet commercial enterprise boom without being forced to actually put in any time or effort are simply doomed to failure from the start. There are plotters and scammers out there in cyberspace that are just ready and waiting eagerly for those to come along who are looking for easy riches.
A right and healthy outlook IS the willingness to take the time to make a dependable, solid business plan that’s based upon sound business principles.
A right and healthy outlook is not just jumping in feet first and hoping for the best. The best that can happen under those circumstances is that you get out with anymore than two cents to your name. ‘Flying by the seat of your pants’ isn’t a plan…it’s just plain suicide in the world of internet marketing. If you do not have a formal education in business, you need to find individuals who do have that kind of education then follow their advice.
Recognizing and utilizing leverage:
There are dozens…maybe hundreds….of business models out there. Some are, naturally, more successful than others but they all come with their own set of pros and cons.
You have to use all of the ability of the Internet to make your e-business successful. You really can’t afford to leave any stone unturned.
If you are a real go-getter, the temptation is to do everything first and that Is not possible. You have to make a realistic plan and build one thing upon another until you have a solid base from which to operate.
Once you get a site built, you’ll need to begin leveraging SEO (search engine optimization) and gaining page rank. One thing does lead to another, but one of the speediest ways to leverage SEO is to add a blog to your site. This is a way that you are able to get indexed by the search engines.
Leveraging also includes branding yourself, your site and your products. One of the speedier ways to start getting yourself branded is by investing in PLR (Private Label Rights) products and changing the names of those products to include your own name or logo. (Do not forget that there must be some rewriting done.)
This is believably the speediest way to become branded as well as gain credibility on the internet. Remember that reputation and credibility are everything on the internet.
There’s an old saying. “It is not What you know, but who you know”.
Setting a foundation of great solid relationships is an important aspect of constructing a successful business working hard at building good solid business relationships is worth every minute of time that you invest in it. Building Business relationships should be one of your top priorities.
There are various ways in which to carry out this task. One way is to participate in teleseminars or webinars that are related to your business. You’ll learn that you’ll come in contact with those who are already succeeding in the niche market that you’re working in.
Naturally, attending seminars is an even better way to begin to build friendly business relationships with not only your peers but also with those who are in a position to help you….which brings me to the final foundation that you need to lay.
Find a capable mentor:
It is great in the beginning of your starting your own business you have a mentor hat had either had done this correctly already or has lots of business knowledge. Somebody who’s already made all of the mistakes can help you to avoid making all of the errors yourself.
They have the wisdom that comes from experience to point out pitfalls and to help direct you toward the better of choices.
Successful internet marketers want that ‘immortality’ as well. The ones who are the very most successful are the ones, and who are the most likely to mentor an up and coming e-entrepreneur.
Naturally, these successful internet marketers are not going to be interested in wasting their time on an individual who has not already worked hard to lay those first three foundations themselves.
These possible mentors are seeking newbies who show that they have the right and healthy outlook, who are working hard at leveraging and who are well aware of how important it is to know all the players and the correct individuals.
Grow Or Die
Grow or die! This is what applies to all living things. All endeavors live by this law also. A business can’t start out, grow to a certain point and then easily remain at that point.
Growth and expansion are essential for a business to pull through and if that growth and expansion don’t happen then the business will fade.
Growth and expansion of business must be operated by the business owners or managers. If growth is overly slow, the business will lag behind the competition. If growth is too fast, the business can simply become over extended.
A steady controlled growth is the ideal. Naturally, the ideal and the reality are occasionally two very different things. Sometimes the terms ‘growth and expansion’ are a bit misinterpreted. Growth, for instance, can mean acquiring knowledge and becoming wiser. Expansion can mean branching out and acquiring the knowledge base from which a company operates.
A small internet based company doesn’t have to grow and expand until it becomes a giant multi-national company in order to survive. The owners and managers of these internet businesses do have to grow by getting smarter and expanding by welcoming Modification with open arms.
Company owners and managers must grow with and conform to alterations as they happen. Internet changes happen a lot faster than they do out in the real world. We all agree that developing, conforming and expanding is critical to the survival of any business and maybe especially to an Internet business. So the question is: What is the key to growth and expansion of internet based businesses?
When real world companies grow and expand, they construct bigger buildings and hire more employees but that is not exactly an alternative for an internet-based business.
Investment is the key to being successful in internet business. Whether it is your time, money, or a mentor, investment is definitely the key to success.
Companies must be comfortable staying on the cutting edge of technology and they must be willing to adapt to changes as they occur. Internet Business only grows when the individual who’s driving that business invests in his or her own knowledge and ability.
An internet business can’t expand by investing in hiring more individuals.
The bottom line is this: The key to uninterrupted growth and expansion of an internet Based or manager of the business. The short answer: Invest in yourself. It’s absolutely true that time is the one commodity that most internet entrepreneurs have an extremely short supply of. Still there are methods to use time that would otherwise be of no value to invest in yourself. Here are a few tips that might help:
➧Use travel time to invest in yourself.
➧Set your clock for a half hour earlier and use that time to educate yourself.
➧After you stop working in the evening, use your computer to search for fresh information and ideas.
Naturally there are some things that are just going to take your time but you are able to choose wisely.
➧Attend webinars and teleseminars that are directly related to your business.
➧Attend seminars that are closer to your home and will require less travel time but will provide you with the information that you need. We all have a comfort zone and all of us are extremely fond of our personal comfort zone. Nonetheless, staying in your comfort zone and resisting expanding your mind and your horizons can cause you and your internet business to fail.
There’s an old saying that says, “If it is not broke, do not fix it.” Well, ‘it’ does not have to be broken in order to be improved upon whatever ‘it’ is.
New ideas come along every day in the world of internet business. Some of those ideas are even good ones even if they do reside outside of our own personal comfort zone. So to continue to invest in yourself, you must be willing to leave your own comfort zone.
Nobody is saying that new is always better. New isn’t always better. Invest in yourself by increasing your knowledge and do not be afraid of trying new things and new ways of doing things. These really are the secrets of success and not just in the world of internet business but in life itself.
Work and Deals
Just about every internet marketer that I’ve ever known has worked at some kind of business other than internet marketing before they established their internet marketing careers.
It’s a funny thing about working on a job that pays you for the work that you do. You get into a ‘work-equals- money’ mentality. After all, when you work for other people, work does, in fact, equal money.
But when you launch an internet marketing career the work that used to make revenue for you now keeps you from making income.
It’s true. The work that you’re doing that you once got paid to do, like answering the telephone, answering emails, and filing papers is actually keeping you from making the deals that will put profit in your pocket.
Yet we continue to seek work because we’re programmed to think of work as the thing that constitutes making money. We get stuck in the ‘work-equals-money’ outlook that’s in reality is counter-productive to constructing a successful internet marketing endeavor. We focus our time and energy on finding work for ourselves instead of on concentrating on our time and energy making the deals that will genuinely make money for us.
Think about it. What was your first job? Did you cut grass for a neighbor? Didn’t you get money after you had done the work? Naturally, you did. He wasn’t paying you to think…he was paying you to cut grass.
When you got older and got a job at the local hamburger joint, you got paid for cooking hamburgers and French Fries, you cooked the hamburgers and fries and then you got paid. The owner of the burger joint was not paying you to find a better way to cook burgers or paying you to look for a new market to sell burgers. He was only paying you to do the work.
But now you’re not getting paid for doing the ‘work’. It’s true that the work must still be done but you don’t have to look for it. It will find you. What you need to be looking for now are the deals that will make you money.
What constitutes work?
What is work? The work involved that makes any business function is just the daily activities that must be accomplished in order for the business to work. Phone calls must be answered. Emails must be read and responded to. Files must be kept orderly. The list goes on and on. No one is going to pay you to answer the phone, read emails or keep files in order. This particular part of the job is not making you any money and it most certainly isn’t what you should be focused upon.
Once an internet marketing business has gotten up and running, it’s a really good investment to simply pay a virtual assistant to do the behind the scenes work. This sets you free to make the deals that actually make you money and make your internet marketing business expand.
You cannot do this right away, naturally, but you are able to use as little of your time as possible on routine tasks.
Until you are able to hire somebody to do this work for you, get it fixed as best as you are able to and move on the productive deal making. How many hours are you spending daily writing and making posts to your blogs? Is this time actually making any money for you?
No, naturally, it is not. It’s just ‘work’. It’s work that other people could do just as well. Customer service is absolutely vital work that must be done. It must be done quickly and efficiently. It might even be work that in the beginning at least that you must do yourself. There are companies and individuals out there that are
Absolutely capable of handling this work for you and you do not have to make it harder than it needs to be.
What constitutes making deals?
Yes, it’s absolutely true that the ‘work’ must be done, but the work that must be done should be done as rapidly and as efficiently as possible and you should not concentrate your energy on finding and creating more work that Is not going to making any profit. You need to be centering your attention on making the deals that will make money.
Just as soon as you possibly can, you should start hire individuals to do the everyday tasks that must be carried out and free up as much of your own time as possible for deal making.