Judith Moor

The 4 Biggest Mistakes Home Business Entrepreneurs Make That Lead To Failure In Their Home Business(Video)

9 months ago, I decided to do some research on what the top home business entrepreneurs are doing that makes them so successful in their home businesses when 95% of home business owners quit in the first year.

Different entrepreneurs gave different reasons why beginner entrepreneurs fail based on their own experiences.

Together with my own experience, I have put together the top 5 mistakes I believe beginner home business entrepreneurs make that lead to failure in their home business.

If you are a home business owner and you haven’t found success yet in your home business, chances are, you are making one or several of these mistakes and this post is for you

If you are just starting out in your home business, there is a chance that you will make one or several of these mistakes, this post is for you. Read it to avoid these from the very beginning.

The Four Biggest Mistakes Home Business Entrepreneurs Make That Lead To Failure In Their Home Business

 

Judith Moor

John Wooden summarises this in his quote: “Failing to Prepare Is Preparing To Fail”

This seems to be an everyday quote but I wonder how many of us really give it a thought before we begin our home businesses.

Owning and running a home business is like any other business out there but because it is run from home, and people often don’t have to go through the phase of seeking out a place to rent, going out to buy desks and chairs and actually putting in the hours to create an office space, they don’t take it nearly as seriously.

Working from home is supposed to be an advantage – cutting down on all the rent and other additional expenses that a traditional high street business will incur not the other way round.

So How Do You Prepare Yourself To Start Your Home Business For Success?

Entrepreneurship is a journey of taking risk.

Preparing our mindset to face those risk is the number one preparation that we need to run our home businesses right, otherwise, the first challenge that will hit us will leave us either wanting to quit or at the verge of it.

When I started my home business I didn’t prepare for the challenges I was going to face. I definitely knew there would be challenges but ofcourse, like any other beginner home business entrepreneur out there I underestimated them and never gave it a considerable thought.

There are 2 very important things you need to do that would give you the Biggest Mindset Preparation You need for your home business and enable you go past the tough days and keep you going:

1:      COMING UP WITH A VISION FOR YOURSELFJudith Moor

  • Who do you want to become through your home business?
  • What is it that you want to achieve

2:     SETTING A S.M.A.R.T.GOAL

This follows through from your vision. When you have identified what you want to become and what you want to achieve, you can set a S.M.A.R.T Goal for yourself which will propel you in the right direction.

More On Setting S.M.A.R.T. GOALS Here

Judith Moor

Running a home business is a Low Investment Option but most beginner home business owners often mistake Low Investment for No Investment.

Think about it – a normal traditional business for example a restaurant, will need a location, get a lease for the restaurant and pay rents on the lease, furnish the restaurant (tables, chairs, other decorations), come up with the kitchen area, etc. Its a huge start investment cost, that is just the start up cost without the running cost as yet( bills – gas, electric, business taxes, you name it). How much do you think starting up a restaurant will cost?

Think of purchasing a Franchise – how much do you think it would cost you to purchase an already established franchise – the cheapest ones will be the tens of thousands of pounds and dollars. This is just the physical start up cost and you still have to think of how much you put in to learn the skills you need to run your business.

A home business can be started with a few hundred pounds or dollars, run from your own home without  you having to buy anything more that you don’t already have.

So, What Then Do You Have To Invest In If You Don’t Have To Make All These Physical Investments?

YOURSELF !

Investing in yourself is the singular most important thing you will do as a home business Judith Moorentrepreneur to take your business forward especially if you are just starting out as many do with no previous entrepreneurial experience.

Investing in yourself will teach you the skills and the tools that you need to grow your home business.

Imagine how many years it takes for a medical doctor, an accountant, a lawyer etc to study just to gain the knowledge, then the number of years of on the job training and practice it takes to become proficient.

Running a business is no different and many people fail to realise this. The cost of investing in yourself as a home business owner is still very low compared to any other as you practice as you go along and it could take a relatively shorter time.

There are Mentors and Courses out there that will teach you what you need to know and do to take your business forward.

That is why even seasoned entrepreneurs invest in mentors and coaches. They are just of a different level. You just have to find the education that is suitable for your own level.

But be careful though NOT TO FALL IN THE TRAP OF THE SHINY OBJECTS SYNDROME.  It is common for home business entrepreneurs to jump from one course to another that will never be used.

Working with somebody who has already gone through this phase and knows the best courses for you is a huge plus. I had to do lots of research and spend money on a number of rubbish courses before I eventually found the gold nuggets. You don’t have to go through that.

There are basic tools that we need to run our home businesses – A laptop, an internet connection, an email auto – responder, a website, and other basic tools that will enable us put the pieces together to run our business.

These tools may cost us a few hundred pounds or dollars to purchase but they are things you will totally need if you want to run the business the right way and have success with it.

Click Here To check out The Attraction Marketing Formula Book and Learn How You Can Easily Attract The right People For Your Home Business

 

Judith Moor

I believe this is one of the biggest mistakes that beginner home business owners make – my self included when I started. How am I going to Market my business is not one of the things that are thought of on starting.

No matter what business you are in, no matter how good you are in what you do, no matter how good your product is, no matter how brilliant your idea is, no matter how great you are,  if you don’t put yourself, your product or what ever it is you are selling in front of people, no body will ever know it.

But remember, there is a right way of marketing and a wrong way of marketing. People like to buy but they don’t want to be sold to – a lesson I learned the hard way.

Marketing is the key to any business. Learning to market is the #1 way to achieve success in any business. Thinking about marketing strategies from the very beginning will be one of the very important steps for a beginner home business entrepreneur.

Click Here To Learn More About The Elite Marketing Pro Marketing Education System and How It Can Help You Grow Your Home Business.

Judith Moor

This follows through with mistake number 3 on investment. You have to invest in your business. there is no free strategy.

Free here is not only measured in financial terms. If you are not paying for your strategy, you have to invest in time. So whether you are putting in money or you are putting in time, it doesn’t matter, all these are things that incur costs.

We all crave for time, so you will notice that Time is the most important prize you will pay for achieving success if you don’t have the money to invest.

Click Here To check out The Attraction Marketing Formula Book and Learn How You Can Easily Attract The right People For Your Home Business

If You Enjoyed This Post, I would greatly appreciate it if you do me a favour by entering a comment below and sharing.

Judith Moor

‘Helping You Start Your Entrepreneurial Journey & Taking It To The Next Level’

Judith Moor’s Life Style Entrepreneur Blog

Email: judith@judithmoor.com

Facebook: Judith Moor

PS: Just curious, would you be open to a side project that wouldn’t interfere with what you’re currently doing? If so, Take A Look At This  and let me know what you like best about it by emailing me at judith@judithmoor.com

PSS: If You Are A Professional Who Has Always Wanted To Start Blogging As A Side Project To Generate Income But Just Didn’t Know Where To Start, This Free Report Which Teaches You How To Quickly Build A Passive Income Through Blogging Will Help You. Click Here To Grab It .

If you enjoyed this post on ‘The 4 Biggest Mistakes Beginner Home Business Entrepreneurs Make That Lead To Failure In Their Home Business’, share and comment please.

16 Comments

  • Di Downie

    Reply Reply October 12, 2016

    Hi Judith

    great post

    I’d add to your list that people need to get out and avoid the isolation when working from home. Especially internet based businesses.

    We might talk to 15 people over the internet , and thats very different to talking to someone face to face

    Di

    • Judith Moor

      Reply Reply October 14, 2016

      Very true D. Face to Face always brings more trust that on the internet. Works well for people who are local to each other. Thank you very much for stopping by and sharing some great insights. I appreciate you.

  • Michael Burns

    Reply Reply October 11, 2016

    I gotta agree with you there. Great post. In 15 years online, I have never found a way to make any kind of sustainable income online without an investment of some kind.

    • Judith Moor

      Reply Reply October 12, 2016

      Very well said Michael. There is always going to be something for something. Thank you for stopping by Michael. I appreciate you.

  • Vanessa Wolford

    Reply Reply October 9, 2016

    Wow! I believe that I may have experienced some of these. #1 for sure. I am getting better and better everyday though! Thanks for the share.

    • Judith Moor

      Reply Reply October 10, 2016

      I made them too. I always tried to invest in me but I invested in the wrong areas based on the training I got at the time. Knowing what to invest in is also very important. Thank you for stopping by Vanessa. I appreciate you

  • Demetri Benton

    Reply Reply October 7, 2016

    One the the major reasons for failure in this industry is #2 – Thinking No Investment. A lot of people start their business with a low investment, but aren’t willing to invest in themselves or the business and wonder why they aren’t having any success. Where can start a business and build it successfully for free?

    • Judith Moor

      Reply Reply October 10, 2016

      Very well said Vanessa. One failure reason too very related to investing in self is investing in the wrong area thing as most people join the opportunity with no knowledge and just follow what the upline says and most often, they are as ignorant. I invested in myself at the start but in the very wrong way. Knowing and picking the right program to invest in is equally very important.
      Thank you for stopping by Demetri I appreciate you.

  • Renard Moreau

    Reply Reply October 7, 2016

    [ Smiles ] I believe that anyone who has intentions of doing a home business should always do the research; which would enable them to know what they are getting themselves into.

    Great blog post!

    • Judith Moor

      Reply Reply October 10, 2016

      Thank you Renard. Research is very important but it’s often not the first thing that comes to mind as most people join home business opportunities through family and friends. They are often not well thought through processes and unfortunately the people they join have no clue what they are doing and the vicious cycle just continues. We have to start learning to do research despite who introduces us to an opportunity. Thank you for stopping by. I appreciate you.

  • matthew timothy

    Reply Reply October 7, 2016

    Awesome post, this is absolute gold

    • Judith Moor

      Reply Reply October 10, 2016

      Thank you Matthew. Happy you found value. I appreciate you.

  • Keith Everett

    Reply Reply October 7, 2016

    Great post Judith, so true. I think a lot of beginners are looking for something for nothing, as we know, there is no such thing as a free lunch. It takes time, effort and spending some money to succeed online. Thanks for sharing..

    • Judith Moor

      Reply Reply October 10, 2016

      Very well said Keith. I also believe it is more of the way the opportunities are sold to people. If we all learned to share the opportunity the right and not just looking for the next sign up, actually educating people so they know what it takes, then people will understand better and only those who really want to invest will commit. Thank you for stopping by Keith. I appreciate you.

  • Andy Atsugah

    Reply Reply October 3, 2016

    boomski… luv it. these are awesome points Judith. There would not be so much of a high failure rate in our business if only people would watch out for these pitfalls you have just outlined here

    • Judith Moor

      Reply Reply October 4, 2016

      Thank you Andy. I am happy you loved it. Yes, if only I knew all these myself when I started, it would have saved me some of the frustrations, time and effort I wasted doing all types of time-wasting things. Thank you for stopping by Andy. I appreciate you.

Leave A Response

* Denotes Required Field