You don't want to be part of the small business failure statistics.
Therefore, it would be wise for you to learn the main reasons for these failures, and avoid making the same mistakes.
With the necessary knowledge, discipline and a sensible plan, your Internet home based business idea will be successful.
Business Failure Rate Did you know that almost 8,000 start a home Internet business every day in the United States? Now, take a look at this other statistic: According to the U.
S.
Small Business Association, only 2/3 of all small business startups survive the first two years and less than half make it to four years.
Are you going to be part of this last group? Like all of us, you're going to make mistakes with a home business start up.
However, you can correct the minor ones, but the major ones could wipe out the idea of starting a small home business.
Here you have some causes of these failures.
Reason for Business Failure 1.
Choosing the wrong type of business - Nothing will cause you more frustration, waste of time and money than choosing a business you don't like or one that requires skills you don't have.
Find a line of work you love and where you can excel using your own natural talents.
2.
Lack of the necessary knowledge - You need to learn all you can about your product or service and what you need to set up your business.
Do a research about your competition and things such as marketing, software, equipment, working capital needed and budgeting, health insurance etc.
3.
Lack of Planning - You need at least a basic idea of the steps you need to follow to develop and succeed in your business.
Good home business systems must be based on reliable and current information.
If you have questions or need direction, read articles, books, or find a sponsor to help you with guidance.
4.
Lack of Discipline - Discipline and consistency necessary are absolutely necessary to be successful in any business.
This also includes being organized and willing to sacrifice.
Organize your time and activities so you can perform them on a regular basis.
Also be willing to sacrifice time, money, and effort, especially at the beginning.
All of these will pay big dividends later on.
5.
Lack of Patience - Provided you do your part, you need at least one year before your work from home business idea starts showing some decent signs of success.
Read the success stories of highly successful people and see how many became successful in a few weeks or months.
6.
Falling Prey to Home Based Business Scams - Most of these so called "opportunities" are either total scams, or you work hours upon hours with little or no results.
You need to make an informed, not an emotional decision for your in home business idea.
See our recommendations for truly Legitimate Home Based Businesses.
7.
Lack of a Website - In today's world, a web site is a must business tool, and a low-cost investment compared to its potential.
It's the best and easiest way to show your products and services and reach millions of customers worldwide 24/7 365 days a year.
Most of your competition has a web site, and not having it is like trying to compete with a hot dog stand across from a McDonald's.
How to Avoid Business Failure Home businesses fail for all kinds of reasons, and there are always risks.
However you can reduce them by continually seeking the necessary knowledge about your home business niche and putting the required effort to succeed.
You must develop the discipline of continuous learning from someone more experienced than you.
Also, the Internet has an infinite supply of FREE information available; use it to your advantage.
WARNING! - 95% of the online income opportunities are scams.
Don't be the next victim! Learn how to avoid home based business scams and start a business from home.
Therefore, it would be wise for you to learn the main reasons for these failures, and avoid making the same mistakes.
With the necessary knowledge, discipline and a sensible plan, your Internet home based business idea will be successful.
Business Failure Rate Did you know that almost 8,000 start a home Internet business every day in the United States? Now, take a look at this other statistic: According to the U.
S.
Small Business Association, only 2/3 of all small business startups survive the first two years and less than half make it to four years.
Are you going to be part of this last group? Like all of us, you're going to make mistakes with a home business start up.
However, you can correct the minor ones, but the major ones could wipe out the idea of starting a small home business.
Here you have some causes of these failures.
Reason for Business Failure 1.
Choosing the wrong type of business - Nothing will cause you more frustration, waste of time and money than choosing a business you don't like or one that requires skills you don't have.
Find a line of work you love and where you can excel using your own natural talents.
2.
Lack of the necessary knowledge - You need to learn all you can about your product or service and what you need to set up your business.
Do a research about your competition and things such as marketing, software, equipment, working capital needed and budgeting, health insurance etc.
3.
Lack of Planning - You need at least a basic idea of the steps you need to follow to develop and succeed in your business.
Good home business systems must be based on reliable and current information.
If you have questions or need direction, read articles, books, or find a sponsor to help you with guidance.
4.
Lack of Discipline - Discipline and consistency necessary are absolutely necessary to be successful in any business.
This also includes being organized and willing to sacrifice.
Organize your time and activities so you can perform them on a regular basis.
Also be willing to sacrifice time, money, and effort, especially at the beginning.
All of these will pay big dividends later on.
5.
Lack of Patience - Provided you do your part, you need at least one year before your work from home business idea starts showing some decent signs of success.
Read the success stories of highly successful people and see how many became successful in a few weeks or months.
6.
Falling Prey to Home Based Business Scams - Most of these so called "opportunities" are either total scams, or you work hours upon hours with little or no results.
You need to make an informed, not an emotional decision for your in home business idea.
See our recommendations for truly Legitimate Home Based Businesses.
7.
Lack of a Website - In today's world, a web site is a must business tool, and a low-cost investment compared to its potential.
It's the best and easiest way to show your products and services and reach millions of customers worldwide 24/7 365 days a year.
Most of your competition has a web site, and not having it is like trying to compete with a hot dog stand across from a McDonald's.
How to Avoid Business Failure Home businesses fail for all kinds of reasons, and there are always risks.
However you can reduce them by continually seeking the necessary knowledge about your home business niche and putting the required effort to succeed.
You must develop the discipline of continuous learning from someone more experienced than you.
Also, the Internet has an infinite supply of FREE information available; use it to your advantage.
WARNING! - 95% of the online income opportunities are scams.
Don't be the next victim! Learn how to avoid home based business scams and start a business from home.