Why Do Home Based Businesses Fail?
This story is told far too often. A new would-be Home Based Business or Internet Marketing Entrepreneur dreams of leaving behind the corporate rate race.
He dreams of spending more time with his family. He dreams of ending the countless hours spent commuting.
He dreams of financial independence, financial freedom. Riding these dreams, he enters the difficult but exciting world of home business ownership, loaded with optimism and enthusiasm.
His excitement can barely be contained as he jumps in with both feet. He learns everything that there is to know about Internet Marketing Strategies.
He or she endures the emotional roller coaster that is typical of all home based businesses.
But ultimately the Entrepreneur gives up. He fails.
He is no longer an Entrepreneur. So what happened?
This is all too common. In fact, over 95% of all home based businesses fail within the first year. This is a disturbing statistic, but it is all too true.
Of every 100 entrepreneurs who start a home business, a full 95 will fail within one year. So what are some of the reasons why they fail?
While there are many specific reasons for home business failure, one that I consider to be the most common culprit is a failure to take immediate and decisive action.
We’ve all seen this – the new entrepreneur is full of excitement as he strikes out on his home business endeavor.
He makes plans, studies up on his product or service offering, he makes lists, shuffles papers, and feels busy doing it. He might even do some research on successful Internet Marketing Strategies.
But NEVER mistake “busyness” for action. They couldn’t be more different, especially for a home based business owner.
I would define Action as performing an activity that has an immediate and specific desired effect. As a home business entrepreneur, you can compile lists all day long, but unless you talk to the people on the list, and talk to them in the right way, that list is nothing but busy work.
Failure to take action is death to any business – but ESPECIALLY to a Home Based Business, or to any Internet Marketing Entrepreneur. And remember, “action” doesn’t just mean “busy”.
Action means doing something with a purpose, that actually make a difference to your business. There are many more reasons for home based business failure, besides failure to take action.
But behind every specific home business failure is one underlying weakness, one underlying deficiency. If you have this, your business will be successful. If you don’t, then your home based business will most likely be a failure.
This specific core cause of home based business failure is revealed in DETAIL in our free video training course.
See our contact information on this page, and visit our website designed specifically to educate home business entrepreneurs on the specific causes of home based business failures.
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To Your Continued Success in Home Business