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Do You Have What it Takes to Build aSuccessful Online Business?
Why Do So Many Trying to Market Online Fail?
It may surprise you to learn that although there are literally millions of successful online businesses, there is actually a 90% failure rate of newinternet businesses. It is important to understand the mindset and skillsrequired to create success with your internet business. Without a realisticidea of these vital skills and mindset you will most likely become part of the90% statistic.Some of the most fatal beliefs about internet marketing include:1. I can work when I want to.Wrong, wrong, wrong! You can't just work when you feel like it. You mustexpect to put in many hours of hard work to make a new internet enterprisesucceed. As you begin your internet business, expect many late nights beingspent working on your business. If you are starting it on the side and have acurrent full time job, be prepared for all your former spare time to be spentgetting your business up and going.2. I can get rich quick! No matter what your business is, it is not even reasonable to expect to makea profit from a new business enterprise for many, many months. You mayeventually get rich, but you must work very hard, and it will not happenovernight.3. I don't need a business plan or start-up capital.There you are...wrong yet again. Internet business is still business. It isimperative that you have a plan for success that is based upon sound
 
 business principles. You must research your market, your potentialcustomers, and your competition. You must have a marketing plan, andstart-up capital for marketing. Depending on what and how you are going tomarket online you may need less capital than a brick and mortar business, but most likely your business will require some start-up capital.4. When you have an internet business of your own, you don't have a boss.Wrong again! You are your boss. You must be a boss who sets up a workingschedule and establishes goals that must be met. You must track your success and failure, and develop new strategies and marketing plans andideas. You may eventually need to hire employees and manage them aswell.5. I don’t need a business background.While a college degree in business in NOT essential for an internet businessentrepreneur to be successful, some basic business knowledge is absolutelyvital. You can learn what you need to know by researching online, in books,and often times state governments will offer business classes, financeclasses, tax classes, etc.If you have a hard time balancing your personal checkbook, you probablyshould keep your day job and forget about starting an internet business.How You Can Avoid Joining the Failing Masses?Most successful internet entrepreneurs worked hard for the success that yousee. Besides the fatal beliefs we discussed above, there are 3 attributes uponwhich to build success. The first is taking full advantage of availabletechnology, which means leveraging New Media and Web 2.0. Second, youmust build a set of useful contacts and contact list. Third, follow a mentor.We will discuss these three attributes that must be laid down first so that asuccessful internet business can be constructed. All of them are important,even crucial to the success of any business but especially to the success of aninternet based business.
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