Why Most Online Business Opportunities Don’t Work

This probably comes as no surprise to you but the internet is overflowing with business opportunities. Work from home, homework, network marketing, investing, etc, etc. Opportunities where very few people (approximately 3-5%) actually succeed. What may come as a surprise though is that it’s usually NOT the fault of the business opportunity itself.

OK, sure, there are some Rip-Off opportunities out there, but the legit ones far outweigh them.

A small percentage of people who join these opportunities treat them as a side-hustle and can make some good money.

An even smaller percentage who put heart and soul into them will make very good money. The difference between success and failure in any online business venture is to first recognize and act on some home truths.

Home Truths 1-6

1. Don’t attempt any business venture, online or otherwise if your personality is of a “lazy” nature”

2. Don’t attempt any business venture if you are not prepared for disruption to your home, family, and leisure life. your current life will be disrupted for many months or even years if you are serious about running a business.

3. Whether you start a product or service-based business, it’s nearly all about SELLING. If you are uncomfortable with selling, DON’T go into business.. Business is at least 90% SELLING..

4. Spend money on your business. Money makes money. Thin air won’t make anything. Be prepared to LOSE money at first. If you break even in your first year of trading, you’re doing well. 60% of all businesses fail within the first 3 yrs.

5. You must be tenacious and not give up at the first sign of trouble. Failure is all part of the process, some people will fail once or twice and give up, others will fail over and over and keep going. If you are not prepared to fail forward, don’t start a business.

6. With any business, communication is key. Learn to communicate with others, earn their trust, deliver value in all your communication and ask them to do business with you.

Online Business Opportunities – The Next Step

Did you tick off “home truths 1-6?” Good, let’s get on to the next step.

Picking An Ideal Business Opportunity

1. Pick a business that you can see yourself enthusiastically doing in a year, two years, and beyond. Pick something that you feel comfortable sharing with your family (even if you never do), pick something ethical that does people some good.

2. Pick a business that gels with your personality. For instance, if you pick “Network Marketing”, make sure that you are a person who communicates well with others and is prepared to talk about your business to a LOT of people. Also, be prepared for people to drop out along the way, you will constantly need to keep getting new customers to fill the gaps.

3. Pick a business that you either have the skills to do properly/or you are prepared to learn the skills as you go.

4. Pick a business that has a track record. There are lots of new business schemes/investment schemes etc that offer all kinds of unfounded profit projections. If in doubt, leave it out. Don’t invest money into things you don’t understand or can’t have access to your money, should you want it back.

5. My choice of business, based on risk/reward?. And NO, I’m not selling anything…

I hope you got some value from this post. If you did, please do leave a comment below and share the post.

Thanks

Keith

P.S Check out my latest books, you may find something of use here if you are looking to improve your life.