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Interestingly, a lot of people claim they know how to be rich, yet many of them stay poor.
The thing about these know-it-all people is they are not open to the fact that there could be something missing to their equations. They just don’t see that if they keep doing what they are currently doing, they are going to continue to get the same results.
The people who are willing to learn, who are brave enough to explore new territories are the ones who will prosper in the end.
In the 18th century, a group of brave explorers set sail from England, not knowing where they were heading and found the Promised Land – America. Imagine where we will be today (for those living in America) if that group had held on to their beliefs that the world is flat and if you sailed too far, you’d fall off the edge.
We both know that a pilot will learn about what to do when he is flying through storms in flight school. But it is by actually flying through an actual storm is where HE LEARNS.
Want to know something that sets the rich people apart from the rest?
They don’t mind going through the same learning process over and over again. Yeah,the boring process. For instance, they make it a point to attend seminars on wealth despite that they’re already wealthy because they know that if they can pick up even just one new thing to try out, it will be worth it.
Try this — the next time you attend a seminar, watch out for those who go to the back of the room to buy the speaker’s product at the end of the presentation. If you attend another seminar and he happens to attend too, I bet you’ll see the same guy buying again.
Funny thing is, the know-it-alls will say that they already know what will be shared in these seminars and they can’t afford to waste their time learning the same thing all over again.
That’s true too. I know because I was in their shoes — I was trying to grow my business but it seemed to be ‘stuck’. I KNOW how to fix it and yet I can’t change it because my ‘sight’ is blinded. You see, when you get a solution from a valuable source that you trust, you will see it differently even if it’s solution that you already knew.
Put it this way…if you believe in God and suddenly, you met God in person and God gives you the advice to appreciate your life — I think you’ll do it with no questions asked although you already know that you should appreciate your life.
Makes sense?
As we have ascertained earlier, you can’t expect to be doing the same thing over and over again and expect to get different results. Something has to change in the whole system in order to break the cycle and get better results.
Therefore if you think that you know everything, if you don’t stop being so full of yourself and open up your mind to receive new things, how are you ever going to improve your results? Sounds pretty harsh doesn’t it? Well, wake up – that’s called reality.
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Patric Chan is an international speaker, author and the founder of The Success Trace Private Membership. Find out what are his other success strategies and get free gifts from Patric at The Success Trace Private Membership.
One of the biggest lessons that we can get from the late 1990s was the implosion of many dot com companies. The technology of the Internet made it possible for just about anyone with little business or financial expertise to slap a website on as a “virtual company” and claim they were in business.
With venture capitalists being very eager to get into the online market, startup capital was very easy to come by during that time. Unfortunately, many of the business plans were not well thought out. Young entrepreneurs with technological savvy found it much more difficult to parlay their knowledge into working marketable ventures than they thought.
Ingenious ideas for ordering online and delivering groceries (Webvan.com), buying pet food online (Pets.com), and getting scents transmitted over the Internet (Digiscents.com) came and went almost overnight. Often the virtual businesses never made a single penny in profit before they had spent a vast amount of money loaned by angel investors.
While there were some that took stock of how different the online markets were to retail brick-and-mortar stores and were able to adapt to the new environment (Amazon.com, eBay.com), many more were failing secretly and were hoping that investors would buy them out in an IPO (initial public offering) before they went bankrupt. For that reason, they were soon to be known as dot cons or dot bombs.
As the viability of online business models began to be questioned, the stock market took a dive and technology stocks plummeted. The result was the bankruptcy of many dot com companies – but, not before a ton of money was lost.
Everyone was questioning online businesses and the Internet (once the darling of investors) and web ventures quickly turned from a smart investment into a foolish investment overnight. Venture capital dried up and now those that enter this area have much more difficulty establishing credibility than before the dot com bust.
So, what went wrong? The dot coms appeared to have it all worked out. They had some great business ideas. They had solid venture capital. They had technically knowledgeable people. What they didn’t have were people with good business sense, how to run an organization, and an understanding of the market needs.
Instead of meeting a market demand, they were creating products with no research on how their product would be received by the public. They assume a good product would sell just because it was advertised on the Internet, even when there was no demand for it.
The lesson we can take from the dot com failures is that nothing makes up for improper business training. We can be a genius technically. We can have all the money in the world to get our product to the market. We can even have a one of a kind, unique product.
However, if we have no idea how to run a business and manage the cash flow and expenditures, we are doomed to fail due to lack of common sense and business know-how. Learning how to run a business, whether it is online or not, is a key factor to your success.
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The Secrets of Successful Online Business Revealed!
When you start an internet marketing business, one of the mistakes that you will make is to let a lot of different things distract you from building your business. This happens to everyone that has a business online. The one thing that you have to do is to learn how to keep yourself focused on what you are trying to achieve. The more focused you are on your business, the faster you will make money with it, and the success you want will be yours that much faster. There are a couple of different things that you can do to help you stay focused on your business.
• You want to set some goals. This is something that a lot of people don’t do. Believe it or not but goals are extremely helpful for helping you stay focused. You want to write down short term goals for three months and six months. You also want to write down your long term goals for one year and five years. Make sure that you are realistic with your goals. You don’t want to have a three month goal of make $100,000. That is not going to happen. So make sure that you put down goals that you know you can achieve. Once you have your goals wrote down you want to make sure that you put them in a place you can see them every day. That way when you start getting side tracked you can read them to help remind you of what you are working towards.
• Set up a dream board or a goal board with pictures. All you need for this is a poster board or a bulletin board. You then will need some magazines or pictures of things that you want in your future as your business starts making more money. This is much like the goals that you set but different in a big way. When you can visualize what you are working towards, such as the house you have always wanted or your dream car, you won’t believe how much this can help you stay in focus. Being able to see visual pictures of what you want will make all the difference in the world. You want to put everything on this board that you want. From your dream house, car, animals, money, or anything else you want. Then you want to hang it in a place where you can see it every single day.
• Make a list every day of what you want to accomplish, then don’t stop working until you get it all done for that day. There may be some things that will take you a couple of days to get done. That is okay as long as you put them on your list every day until they are done. By having a list you will keep yourself focused on what needs to be done to help you grow your business.
• Set aside a certain time to work. You also need to have a place where you can work with no interruptions. Let your friends and family know what time you are going to be working. When you try and work with disruptions you will not get as much done as you should. The more time you can work the faster you will be able to grow your business.
All of these things will help to keep you focused on what you are trying to accomplish. You don’t have to do these things but you will find that they make it so much easier for you to get things done and to help you keep going towards your goals. When you are not able to keep yourself focused you will never be able to reach the success that you know you can achieve.
Learn about the top 10 most common mistakes in internet marketing and skip the mistakes to success!
Aside from creating to do lists and using them as guidelines for your business day, you need to become better at time management on the whole. That means that you will have to learn what schedule works best for you and your business, how to set goals and follow through making them, and how to prioritize those goals. You will want to stay away from time drainers, especially if you work at home.
It appears when you work at home that friends, neighbors, even family can sometimes get the idea that you are free to run errands, make calls, take visits, or just plain chat because you are at home. You need to quickly dispel the idea that your time is available and open for other’s to schedule for you.
YOUR WORK SCHEDULE
This is probably one of the most overlooked and most beneficial aspects of having your own business. If your customers are not setting the hours for you based on their schedules, you can reasonably create a schedule that maximizes your productivity because it suits your personality and your lifestyle. There are many entrepreneurs who use the flexibility of home businesses to manage their time in a fashion that doesn’t exactly fit the straight 9 to 5 pm standard workweek.
There are plenty of entrepreneurs who prefer the standard workweek. It all depends on how used you are to this routine and whether you think you can get more mileage out of a different work schedule.
A STANDARD SCHEDULE
If you are on the conservative side or trying to do business with others who are on this schedule, then you will probably schedule your day so that you commence working at 8 am or 9 am and quit after 8 hours or more. You can do this for five days a week and keep your weekend this way.
The key here is to have some separate area in your home set up as an office that marks when you are at work and when you are on your own time. If you don’t have this boundary, you will be consistently hit upon by people trying to take advantage of the fact that you are not under anyone’s supervision but your own. Be clear, when you are in your office – you are working and should not be disturbed. Have two phone lines and don’t answer the home phone when you are at work. All this is common sense, but many people waste time by not making it clear to their spouses, their children, or even their pets that work time is not play time or come bother mommy time.
FLEXIBLE SCHEDULES
One of the key benefits that people who work at home and have online businesses realize quickly is their ability to take advantage of flexible schedules. If you hate waking up early in the morning and are not a morning person, you can begin working later – as long as you make your full day of work.
If you prefer working weekends and doing your grocery shopping on the week days (when the stores are empty), you can soon figure out that you are saving yourself time on your home duties as well as smartly scheduling your time for work. If you have to make runs to particular businesses in the course of your workday, like the post office or the bank, then you will begin to find out when the best time is to show up. The less time you spend in line, the more time you have to work and make money.
Don’t forget that the hours you save commuting can also be used quite well, if you are an early riser. You can schedule your alarm as if you were going to a regular office and instead go to your home office, which should be a much closer commute. You save money on gas too.
There are people who do freelancing who work in the middle of the night and during hours that are more comfortable for them. In the middle of the night, there are no distractions and the possibility of being completely free of the noise of the outside world is something very attractive to programmers, writers, and other professionals.
If you have a full day during the day caring for children, you can schedule to sleep when a spouse comes home and wake up early in the morning (2 am to 3 am) to begin your workday in complete solitude. You save money on day care but can still schedule some time to work from home on an online business. This may sound totally unpleasant to some people, but there are a number of business owners who relish the idea of having a very quiet and beautifully cool night to work through.
Finally, if you’ve hired contract workers who are working in India or some other place because they are cheaper, you may need to modify your schedule to be able to contact them during their working hours. While the cost of labor may smaller, the price you pay is that your schedule has to work to be able to telephone them directly at a time when they are available. Otherwise, you can work through emails and expect a time lag difference, which is not very effective.
Time Management involves numerous disciplines, but if you are keeping your time line goals in mind, you will get better at managing the time required to make your business a success.
The Internet Marketing Mindset will help you learn for the successes (and failures) of others to grow you online business!
