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Monday, April 6, 2009

Your Failed Business Plan! Top 3 Reasons Why

Fail #1 - You're Afraid To Move

Some of the most successful businesses have been started by people who had no intention of starting a business. The fact is that the strongest businesses truly come from someone simply seeing a need and meeting that need.

With the ease of starting a business online there are many people who come to the stage just wanting to make extra money but no real idea of how to do it. Unfortunately, ninety percent of these people never do anything as they are paralyzed by indecision.

If you find yourself at this point you just need to put your head down and do SOMETHING! Genius is 90% perspiration and 10% inspiration. Don't sit around and wait for the next great idea to drop in your lap. It is so cheap and easy to start an online business - you're going to want to have multiple sources of online income. Think of it as planting seeds - you don't plant one corn seed in the ground hoping for that incredible super plant that will produce results for you. You plant thousands of seeds, some that produce stalks but nothing else, some don't grow at all, but enough of them are successful that you can collect and sell an excellent harvest (return on investment).

Fail #2 - You Have Tunnel Vision

Not only is this diversification a good idea if you're just getting started, it's a good idea as a general rule in your business plan. There are hundreds of examples showing businesses with a single 'super product' that runs hot for a couple of months or years, they ramp up with a large number of employees and make money for a while. Then suddenly something happens in the market or another company comes out with something better and they disappear. Don't let this be you!

Let me suggest that you use a system to market multiple products and income streams. Until you find that magic 'super product' why not ride on the most popular site on the internet. You can use Google as a business profit engine no matter what your niche.

Fail #3 - You Don't Have Anything To Sell

Don't have a niche? Just pick something you're passionate about. There are already hundreds of products in that area that you can promote. You don't need to reinvent the wheel - there are hundreds of affiliate programs out there that you can promote.


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