Why Most People Fail in Online Business

minimum_wageHow many years do most people spend earning an hourly wage, with tiny annual pay rises if they are lucky, and some even getting a small promotion after five, or even ten years? Working 35 to 40 hours a week, over 2,000 hours in a year. Then if it takes ten years for a promotion, that’s 20,000 hours for a promotion or pay increase that probably doesn’t even give you as much as the rate of inflation. So you are actually losing money as your career goes on. Scary when you actually think about it!

A Distorted Reality of the Online World
So how about starting your own business, working for yourself, being your own boss. People starting their own get-rich-quickbusinesses have varying expectations, but those starting online businesses tend to have higher expectations than those with traditional offline businesses, expecting things to grow a lot quicker. After all connecting with people online is instant, messages are sent at a click of a button and a simple search on the internet can get us access to most information we need. So success in an online business is often expected to be instant. Misleading information and offers claiming instant riches, only make this worse, and those expecting overnight success, are almost certainly going to fail, when the realisation is that success doesn’t happen overnight, and a lot of hard work is needed in the early days of a new online business.

Rewards are Proportional to Efforts
So let’s look at what you are investing in your business. Let’s say you are advertising or blogging on your website a couple of times a week. Researching, creating and publishing your content might take a couple of hours a time, tops. online-businessSo 4 hours invested in the most critical aspect of your business. Obviously you’ll have other things going on that will be associated with your business, for example watching training videos, doing some keyword research, working on building yourself a following on social media etc. So even if we say you’ve put in 7 hours, that should cover your activity for the week.

So 7 hours invested in your business could get you some decent results, however the problem is that your expectation of results will more than likely be higher than what you are achieving. And probably higher than that of those that invest 40 hours a week into a regular job.

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