Yesterday, while watching Obama and Hillary on CNN regarding their political campaign I am thinking along the way on the mistakes for doing business. I mean starting an online business. When doing business we need to be alert and be like a fox just like politicians. If not people will take advantage on us and turn around to their advantage. So in other words we need to be smart if you want to succeed in doing an online business.

When beginning to learn internet marketing, my mind getting stuck with ideas about how to make money online. At that time I do not know how to start and starts looking around to copy some other person’s method for revenue generation. But after that I realized that it is for a time. But it is okay to copy but we need to add variation to it. In other words be innovative or just copy strategy but innovative new ones on your own. Do not worry as all begins with know nuts about how to do it. Nobody ever has all the ideas right the first time around. But you need to keep learning. As I said in my previous post at my other blog, you have an attitude of never stop learning if you want to taste Success.

What are the mistakes?

1. Not have enough time to think about your business

This is the basic business 101. If you do not know how to run a business effectively, you will not be able to make money. Being lazy is a silly attitude.

2. Thinking that Internet marketing is just another Get rich quick scheme

Clear up your mind. If you think it is, then your in a different arena or in a different ball game. Every business venture has a different set of strategies. To succeed online you need 2 important factors, (a) time and (b) probability. In every business there is a failure. You need to psyche your mind on this ‘word’ first. It is a business reality. But with proper planning, you could develop a better business ability. This comes in business strategy. The anology is, if you have a PhD, it does not guarantee you that you will succeed in life if you do not practice the knowledge in you. But if you practice the principals or the knowledge of being a doctorate, you will do very well in life, even if you are only gone to secondary school or if you’re only a tenth grader student.

3. Not learning from multiple gurus

It is silly to learn by doing all the research yourselves. You need to learn from many gurus out there. Subscribe to many newletters and ezines that give free advice. There are highly knowledgeable people who could provide you effective information because of their experience in the internet marketing arena. For those in Malaysia I would recommend you to join The Internet Millionaires Club (Silver) and to those friends from the US, UK or other countries I would certainly recommend you to subscribe to the “Insider Secrets” Course 2008.

4. Giving Up too early

In this business you could not be lazy or easily give up too soon. There are people out there who work only 16 hours a week as internet marketers and still make a decent living. The fact is not many people could do that immediately. Some of the Top Internet marketers are working 12 to 16 hours a day. I repeat 12 to 16 hours a day. What is so difficult about that. It is just cracking your head in front of your PC. I am not asking you to go out from your home do hard labor under the scorching sun. Just in front of your PC! But when you have know the way to go around making money online constantly only then you could reduce your time. Only time will tell when.

5. You do not plan your time well

One of the important factor is time management. You can be a super duper marketer with great marketing skills, but if you are poor in your time management, you will suffer from burnout. Yes, in other words “die standing”. Personally, I feel you should go back to basics in time management in order to gain the best out of internet marketing. Most people out there will rush things to do hundred and one different things. I would recommend you to do one thing at a time (do it slowly but systematically), have patience in doing this business. So I would recommend you to read, Stephen Covey - “First Things First” book, where he talks about Time Control.

Okay, guys that’s about all for today and I shall elaborate about these mistakes in my next or the following post. Do come back for more tips and sharing. Need to go out now to fetch my daughters from school. Since my office is close to home, I do fetch them and be home for lunch. Have a great day.

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