7 Signs You’re Not Ready To Start An Online Business
Dot.Com or Internet firms became mainstream in the early 1990s, and internet stocks sold for multiples of their book values between 1995 and 2000. The majority of Dot.Com enterprises have nothing practical to back up their exorbitant rates. It wasn’t long before the market began to correct itself, and by October 4, 2002, the NASDAQ index had plummeted by 76.81 percent, to 1,139.90, from a high of 5,084.62 on March 10, 2000.
Since the bubble burst, the Dot.Com industry has separated the men from the boys, teaching them vital lessons. Many of the youngsters returned home to lick their wounds, while the men began looking for the secrets to internet business success. In reality, because the internet business was a totally new domain, no one key to online company success was discovered. As a result, figuring out what worked became a question of trial and error.
Rich Schefren published his widely regarded Internet Business Manifesto in 2012, in which he recommended Dot.Com entrepreneurs to handle every part of their internet business strategically rather than tactically, from list building through product creation and sales. He isn’t especially fond of
Many online entrepreneurs have worked out what works and what doesn’t since the Dot.Com crisis, and the internet is creating billionaires in record numbers in a variety of niches and sub-niches. Russell Brunson, the author of three best-selling books, Dot.Com Secrets, Expert Secrets, and Traffic Secrets, is one of these billionaires. These books are go-to resources for finding out what works online. If only to mention that, as of 2020, Russell Brunson’s net worth was predicted to be $41 million, an amount he amassed over 15 years.
According to Scott Cunningham of Social Lite, internet entrepreneurs go through three stages: the crawl phase, when they make less than $100,000 per year, the walk phase, when they make more than $100,000 per year, and the run phase, when they make more than $100,000 per year.
For those of us who are still crawling, it’s crucial to remember that, like anything else in life, internet business has its own set of rules. These are the principles followed by those who are successful in the internet world. Those who fail experience the reverse. Do what works, like Russell Brunson and other online business experts would advise. Make no attempt to reinvent the wheel.
Here are seven symptoms that you’re not ready to start an internet company. They are, in no particular sequence, as follows:
1. You’re not interested, and you’re generally doubtful that people like you are able to develop successful internet companies and earn money.
2. You’re not paranoid; in fact, you feel that Internet commerce is a transitory phenomenon that will fade away shortly. “Only the paranoid survive,” Intel co-founder Andy Grove once stated. The internet is not going away anytime soon.
3. You think Social Media is a waste of time; if you utilise it at all, it’s for the “social” component. If you know how to use social media sites like Facebook, Instagram, and YouTube, you can use them as business tools.
4. You don’t have a production mindset; instead, you prefer to consume, and if you do produce, it’s inconsistent. You must be a prolific producer to prosper online, especially if you’re selling digital things.
5. You put on the expert’s toga, continually asking, “What can anyone teach me?” In his Stanford Commencement speech in 2005, Steve Jobs remarked, “Continue to be hungry. Continue to be a fool.”
6. You concentrate on the drawbacks: fraud, complexity, technicality, and so on, telling yourself that “it’s not for me.” There is a dark side to the internet. It also has a positive aspect. Take a look at the positive side of things.
7. You live a “content life,” assuming you’re already successful and don’t see the need in continuing. This is the mindset of high-paid executives. Why not invest and study while you’re still making a lot of money? You’ll retire sooner or later.
If you exhibit three or more of the signs listed above: you lack curiosity, you’re not paranoid about the internet, you despise social media or only use it for fun, you prefer to consume rather than produce, you consider yourself an expert who knows everything, you only see the negative side of the internet, and you’re too content to bother, the simple interpretation is that you lack online business success.
Simply put, the symptoms indicate that you are not prepared for internet company success. I consider someone who earns a minimum of $10,000 per month online to be successful, and who scales and invests heavily to get from the crawl to the walk stage. This is my straightforward suggestion to you: rise from your seat,
Paul is the founder and CEO of Vision & Talent Training Group, as well as the inventor of the Internet Business Mastery Course, which teaches people how to develop successful online companies. He is the author of seven books, including Bridges to the Customer’s Heart, which has received endorsements from MTN Chairman Pascal Dozie, UBA Chairman Tony Elumelu, and Ben Ofungwu (ISN Chairman). Paul was described by the late Richmond Dayo Johnson as “one of Nigeria’s most real experience authors.” Nigerian Breweries (Heineken), Dangote, First Bank, and Nestoil Group are among Paul’s clientele (whose clients include ExxonMobil, Chevron, Shell, and NNPC, amongst others). As a member of the McKinsey Executive Panel, Paul has written for Process Excellence Network, a global community of 240,000 process professionals. At EzineArticles.Com, he is a Platinum Author. Phone: +234-8033075133; Email: email@example.com