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While I was still working in my own business part-time and was employed full-time, I came to understand that in order for my internet venture to succeed, I needed to mind my own business 100% and not those of others. I realized that my best success was realized when I worked full-time in my own venture and part-time for others rather than the other way around.
At that period of my life I discovered a life changing secret: The mindset of a true entrepreneur should rise above the standards that exist in individuals who labor for others in the daily grind of full-time employment.
I realised it was a mistake to try to hold on to an employee job and try and work my internet business late at night. It was a strategy that was keeping my venture on the ground for months – if not years. Thankfully, my decision to go full-time on my internet businesses made all the difference. Apart of that profound conclusion, I also found 3 other common errors that most entrepreneurs make when they start an online business:
1. Failure to Set and Keep Priorities in Order
You’ve probably heard the expression used by John Wayne “we’re burning daylight.” Time, once wasted, is gone forever, so it is essential to utilize this valuable asset effectively and efficiently in your online business. When opportunities are lost because of time spent on fruitless activities, the typical result is business failure. The online marketplace is a highly competitive one, and those who work hardest and make the most productive use of their time will always be seeking to take the lion’s market share.
If you spend your valuable time in front of the tube, playing on Facebook, or playing games on Pogo, you are increasing the available opportunities for your competition to move in and take your share of the marketplace. You should have a set plan for every day and adhere to it. Use time wisely; you mustn’t waste this precious asset called TIME. You must not allow others to waste your time, either. Setting and keeping priorities requires discipline, and in order for your online business to succeed, you will have to develop the skills required to avoid wasting time so you can achieve the goals you set.
2. Not Being Honest With Yourself
The majority of internet business owners have plans to achieve their financial freedom within a single month. Achieving a positive cash-flow in a new online business usually takes months, and it is unrealistic to expect unlikely results such as financial freedom in a mere month.
Successful online entrepreneurs who have achieved wealth put in the effort required over a period of months or years to reach their financial goals. Even in the unlikely event that instant financial wealth is achieved, it is generally short lived. Building a customer database, developing partnerships, creating and optimizing a website, achieving quality organic traffic, building your business credibility; all of these things take time. There is no “fast track” way to instant business success.
You must be honest with yourself and face the fact that your business must be molded into a success, and it simply isn’t realistic to believe this can take place in a mere thirty days.
3. Failure to Keep a Positive Outlook
An optimist sees the glass half full, and the pessimist sees it half empty. An optimist believes in his eventual success, and a pessimist anticipates his certain failure. In order to have a successful lifestyle, you must maintain a winning attitude. Every online business is going to encounter obstacles, and every online business owner must be prepared to overcome them. A positive outlook will guide you through difficult times; an enthusiastic mindset will motive you in times when failure seems possible. Remain focused and optimistic, and you will overcome most hurdles that block your path to success.
You must set realistic financial goals that can reasonably be achieved. Set an initial goal, for example, of $150. When you reach that goal, reward yourself, and raise the goal. Continue this process and you are conditioning yourself to set and meet your targeted goals.