My Biggest Mistake As a New Entrepreneur





As a corporate executive, you know all there is to know about business and making money, right?


Listen to the accompanying podcast episode HERE








Well, not really. Sure you might be good at what you do (or did) in the corporate world. You might be great at it. And that's why they pay you the big bucks! But when you go out on your own as an entrepreneur, you're going to hit roadblocks. And usually those roadblocks will come in the form of mistakes that cost you time and money.


We all know that there are right ways and wrong ways to do something. And when it comes to building a home business or making money online, there are definitely some right ways and some wrong ways to do it.


So what's the biggest mistake that most home business newbies make? It's not lack of passion or knowledge! And it's not because they're bad at what they do either (although this can be a problem for some). What is the biggest mistake home business newbies make? They're impatient!


Let me say that one more time… home business newbies are usually impatient when it comes to building their home business. And when you're an impatient home business owner, this can cause some serious problems for your home business. If you don't want to be part of the statistics, then read on to find out what home business newbies are impatient about, and how you can avoid this mistake!


Let's look at some statistics. According to homebusinessmag.com, "50% of home businesses fail within the first year." And according to inc.com, "less than 1%" of home business owners make up the top 2% in home business earnings. Ouch! That's pretty serious stuff.


So what happened with these home businesses? Why did they fail, when thousands of home businesses are launched every year? The answer is simple… impatience. Just like most home business newbies are impatient about building their home business, home business owners who fail are impatient about their home business as well.


We see this happen all the time, don't we? You start a home business that requires you to drive traffic and make sales to your home business opportunity website (like an MLM home business, for example). And it's working! Your home business is making sales every day. And then, one day, it just stops working. You can't understand why your home business has suddenly stopped making money!


Well the answer is simple… you lost patience with your home business! The home business required time to build up your downline and build up a solid customer base. But home business newbies didn't have the patience to continue with their home business long enough to see a return on investment. They wanted instant gratification, and they were impatient!


But what about home business owners who are successful? Why did home businesses that require time to build up a customer base succeed where home businesses that require little-to-no time to build up a home business fail?


You guessed it! Patience. Home business owners who are successful have the patience to continue with their home business long enough for it to pay off. They don't get impatient and give up on their home business, when they should be continuing with it!


So what does this mean for home business newbies? It means that you shouldn't get impatient when building your home business. Just because home businesses require time and patience doesn't mean that they won't work!


Here's the thing… every home business requires time and patience to build up a customer base and grow your downline (in network marketing home businesses, for example). The difference between home business entrepreneurs who fail and home business entrepreneurs who succeed comes down to patience.


So don't get impatient if you want to be a successful home business entrepreneur! This is the biggest mistake home business newbies make, and this mistake costs them their home business! Don't let impatience cost you your home business too! Take the time and patience to build up your home business, and it will pay off in the end! Stay patient and keep trying, home business newbies… one day, you'll find that home business success is within reach!


For more information on home business mistakes home business owners make , check back often!

To your success

Ruth xo