The Most Common (and worst) Reason To Start An Online Business

[Daniel McGonagle]

This is from my blog but I thought I'd share it here as I haven't contributed much to the new WF lately...


Many people are experiencing layoffs and impending retirement and severe financial pressures at home. This causes a lot of people to turn to the Internet as a potential solution to their financial woes.

However, this is one of the worst reasons to “all of a sudden” decide to start an online business.

To run a business, yes a real business, you need to possess some business acumen, and be able to exercise good business-decision-making abilities.

To run a business you need to consider what your time is worth and do enough of the right things to get paid for your time spent.

Where else in the world do you see people “working” for years with little or nothing to show for it? The Internet, that’s where…because the Internet is just a bunch of ‘puters running things, it seems so intangible, therefore causing people to treat it as a surreal experience whereby they fire up a computer, do a few things, and pull in some cash.

While this can be true for some people, the reality is that the intangible nature of Marketing On The Internet makes the failure rate even more abyssmal because it seems gimmicky to the newbies.

Getting laid off or fired or retired isn’t going to allow you to make good business decisions.

There are some rare exceptions to this rule, but the majority of people coming to the Internet to start an online business have no business management skills and no idea where to begin or how to plan.

Experiencing financial pressures at home isn’t going to allow you to think long-term about growing your business the right way.

As a matter of fact, the financial pressure will make you even more susceptible to falling prey for the cons and scams and garbage products that over-promise and under-deliver.

The pressure of paying bills on an ever-decreasing income will cause most people to think short-term and they’ll end up with NO business after a while.

Thinking long-term is the quickest way to succeed with Internet Marketing because it forces you to realize that:

Success won’t come overnight
Hard work is required
Business skills need to be developed
Some tech skills need to be learned

Quick Cash Ideas generally don’t lead to solid businesses, just quick cash, usually in the form of work-for-pay jobs like writing, online survey-taking, clicking on sites for pennies, doing graphics, installing scripts, databases, blogs, and even building sites for people…

Do you know what a sales funnel is or how to develop one?

Do you know the best way to brand yourself for long-term business growth?

Do you know what positioning is?

Are you willing to work on something and expect little to no gain from it just to gain the valuable insights and experience from trying something for a while?

You will never learn, develop or implement the proper business-building tools if you’re pressured to make quick, fast, easy cash and the pressures at home are forcing you to think short-term instead of long-term

Daniel McGonagle
Online Marketing Guide For Home Based Business Owners


You may reprint this article if you keep the link" live at the bottom...

[lindajess]

This is really great, Daniel. You know, a lot of people out there are trying to get involved in IM for all the wrong reasons, and while money is a major part of that, you have to put forth the time and effort it takes in order to run a business. You have to be there to answer questions, write a lot of diffferent pages for your web site along, you have to either have the know-how, or hire someone who does know how to write lines and lines of code, and you have to at least have common sense when it comes to this.

If you don't have these things, and the willingness to learn from not only your own mistakes but the mistakes of others as well, you will surely fail.

[Daniel McGonagle]

Thanks Linda, I appreciate the feedback

[JonnyAndrews]

You nailed it! (but don't forget pure greed!)

[Mark Brian]

I agree with you however I believe that a little bit of pressure can make things happen and that time is limited so don't plan too long perfecting the business in one shot. This is cliche but failure is a gauge of success. Most of the world's richest businessmen failed first. Donald Trump was once bankrupted but never gave up.

I am a firm believer that doers are winners and those who don't even try automatically lose by default. The people who are crazy enough to think they can change the world are the ones who actually do. It's just a matter of not giving up. After all we only have one life, why work for someone else majority of your life.

All in all great post but that's just my 2 megabits... Start in business early to fail early then learn early to succeed early.

[wellymulia]

Hey Daniel,

Nice article. Let's also not forget that almost all newbies are expecting easy online money with little or no work at all.

Thanks.
Welly Mulia

[AndrewCavanagh]

Yeh it comes as a shock when you realize you have to work really hard to make money online and the learning curve at the start is huge.

I think that it can be useful for some people to go through dire straights so they can reevaluate their lives and careers.

But you're spot on.

You have to expect to put some serious effort in to get some serious money out of this internet marketing gig.

Kindest regards,
Andrew Cavanagh

[Tristan Bull]

Definitely right, but I think the right people are motivated and determined to succeed even if it does mean they need to do some work.

Another good thing about people coming from the offline world is that they are usually used to working hard anyway so its only the few that expect the "get rich quick" that get disapointed.

A lot of education is required but the right type of education as information overload is a massive problem is this industry.

Tristan

[Daniel McGonagle]

Thanks for the comments everyone, and added input,

Dan