I Don’t Understand My Online Business
UNDERSTANDING YOUR ONLINE BUSINESS
Most people don’t realize but this is the source of their failure with their online businesses. It is the lack of understanding that is the predetermining factor to their business not earning the incomes they are looking for.
The thought that an online business is so simple that “anyone can do this” causes the precipitating failure to weigh that much heavier on the minds of the entrepreneur. This makes the “next” business attempt that much easier to fail then the next and the next until your desires are beaten out of you.
Some of these failures cause the would be entrepreneur to seek what they perceive as an “easy opportunity”. (You know, the ones that you don’t have to do anything and you will be a Millionaire by Tuesday the week after next!)
To fully understand your online business, you have to be willing to “go back to school”. By this, I do not mean enrolling in another College advanced degree but I’m talking about enrolling in learning opportunities to learn the concepts necessary to organize, run and market your online business.
WHEN TO LET GO OF YOUR ONLINE BUSINESS
This always comes up (and I really did not want to address it). A good indication of when to let go of an online business is if the company packed up and pulled their website, the company changed the compensation plan and you are now hardly making anything. (I knew someone that was making $10K per month. The company changed the compensation plan and the next month their income dropped to $2K. Within 6 months, their income dwindled to a few hundred dollars then they dropped out.)
I also know someone that was making a very good income and walked away from it all. He found the company owners were lying and his integrity could not be a part of it.
Other than this, you are the only one that can make the determination when is a good time to walk away. Right now, I have businesses on the back burner. Why? Because I have an opportunity that I can use other resources and build multiple businesses. Otherwise, I would have to pick one of these opportunities and work with that ONE alone. This is not a bad thing it is just chancy and I do not like having all my eggs in one basket.
WHAT IS THE PURPOSE OF YOUR ONLINE BUSINESS
I have mentioned this aspect before in other blog posts. If you can’t answer this, Stop what you are doing! Before you move forward, you need to address this and find your purpose. Without your purpose, you will wind up in a pile of statistics denoting the next online business failures!
This is the first part of understanding your business. Looking back, I hate the old style of Network Marketing. The problem with that style was when you went “prospecting”, you weren’t necessarily concerned if your business was a fit for your prospect. After all, do you remember this: It’s just a numbers game. If you invite enough people, you will be successful!
Recently, with one of my business, I almost did it again. I was set and poised to go get em! Just invite and run those numbers. I couldn’t do it. I dug deep inside myself and made a decision that I was going to find the right way to promote my business and thereby find the right people that fit the design of my business.
In the process, I’m learning to UNDERSTAND MY ONLINE BUSINESS.