Do You Expect Success?
Why do so many home business owners go nowhere and fail 97% of the time? So many millions of people just like you and me worldwide set out on potentially life changing event – home business and entrepreneurship – every day. But only 3% of those well intentioned people actually succeed in making enough money to change their life.
Let’s take a look at a major reason why people fail despite their efforts. Once you become aware of these challenges and obstacles, learn the solutions, then you can overcome them and take yourself much closer to your vision of success.
The #1 reason people fail:
New home business owners have unrealistic expectations.
Many entrepreneurs we have trained and mentored have been involved with five or more MLM, network marketing, direct selling or other home business ventures. Some have jumped from one opportunity to another, sometimes more than 10 home biz opportunities! … and most of them are still looking for the ‘right’ one.
So what’s the right one? Let’s put this in a realistic perspective: It’s like looking for the perfect mate, you will never find perfection – it just doesn’t exist.
It’s the same with any business opportunity – you won’t find perfection. Nonetheless, there are many opportunities available that can be the right home business opportunity for you.
Understand:
There is no perfect opportunity, only opportunities that are right for you.
Start by finding something that you believe in – whether you love or believe in the product, the company, the team, the compensation plan, or the training and support – once you find that opportunity that you can believe in, then all you have to do share and invite.
“I can do that!,” you exclaim… and off you go full of enthusiasm. You talk to everyone you know: family, friends and and everyone you meet. And after a couple of weeks, and after possibly little or no success, you begin to have doubts about your business choice.
Maybe you picked the wrong business to start? Maybe the timing is wrong? Maybe you just don’t have what it takes to make it work? Then, after only a few weeks or a couple of months you give up and start looking for the next great opportunity. The problem is not with any of these things, but it does have to do with you…
You didn’t do everything you could to make your opportunity work.
You gave yourself a very short life expectancy. You gave up after only just starting!
Now let’s look at the reality of owning your own home business.
If you were to start, say a kiosk in a mall selling candles, and you invested $50,000 to get the kiosk, stock and other equipment you need, lease the space for your restaurant’s location, hire workers (or even work yourself for 10+ hours a day) – how long would stay open before you decided it was a failure? If after a few weeks or even a few months, you had only a few customers buy something, but you did not make back the original $50,000 you spent plus your monthly expenses for rent and labor – would you close up shop and look for something else?
Of course not. The typical (and realistic) return on investment of most businesses is three and five years. That means you have to stay in business that long just to recoup your investment, let alone make any profit. Now implant this fact into your mind: You should have the same expectations for your home business.
No matter if the cost of your home business is $10 a month or $10,000 a month, you must give yourself a minimum of two years to judge your success. Amazing things start to happen around the one year mark, and by the time you reach 2 years, you have the experience and customer base to start really growing your business into the success you envision. Realistically, your home business life expectancy should be three to five years.
The greatest thing about home business today is most people can make their investment back and start seeing a profit their very first month, which is what makes MLM/Direct Selling/Network Marketing such an exciting business! However, most people take longer than that.
Our personal experience has varied. With some of businesses we were in profit within the first week, and others not until three years after we started.
Here are 3 things you must do to help your business survive – and succeed!
1. Take action! Even if you make mistakes, because without action, nothing can happen. Be consistent in your efforts and don’t give up.
2. Create a mindset that you are in business for the long term – at least 3 years.
3. Set realistic expectations. Do not set yourself up for failure by thinking that you will get rich quick – that almost never happens… grow your business steadily and over time you will achieve your financial goals.
If you have started or are planning to start a home business, give yourself a reasonable life expectancy of three years at least. Take action, be consistent, learn as much as you can to improve your knowledge and experience, don’t quit, and you will soon find yourself closer to your dreams.
Affiliate Disclosure: We only recommend products that we've either personally checked out ourselves or that come from people we know and trust. For doing so we may receive compensation. Results are unique. Your results will vary and you should always perform your own due diligence before starting any new business.
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Great advice – thanks for this post! It is true that most people give up too soon in home business instead of treating it seriously.
This can be a really well thought out post. I certainly enjoyed reading it. Thanks