What is the antidote to prevent failure in your online business? We all hear those statistics being banded about relating to the number of people who fail online. The numbers vary from 90%, 95% to even 97%.
The numbers may differ but it’s true that a large of people who start an online business end up failing. But what about the other 10%, 5% or 3% who do not. What is that they have that makes them succeed.
Is it about being brought up in a certain era, possessing technical know-how or being talented in a specific area? Or is it none of those?
If you’re serious about starting an online business then watch this short video by top digital entrepreneur Stuart Ross. The video is shot in an exotic location as Stuart is really is living the “laptop lifestyle”.
In the video Stuart shares his own opinion on why people fail online and gives an antidote to prevent you from failing in your online venture.
Antidote To Prevent Failure In Your Online Business
Anybody who is serious about starting a business on the internet and creating a “lifestyle business” will resonate with Stuart’s video.
The statistics regarding the failure rate of online businesses vary so much that there is great suspicion that they are made up. But there has been a wide range of people who have succeeded on the internet.
The majority of people that do succeed are those that have to make it work. That is usually because they have no choice – they either succeed or they’re up the creek.
The #1 reason that people fail online is that for most starting out, building an online business is optional. It’s not a “make or break” or “do or die” situation for the majority.
They’re doing it because they want to improve their lifestyle, so they can sit on the beaches of the world and run their businesses from anywhere. Often it’s not just about the money and having nice things in life.
It’s more about freedom and flexibility for most people. A lot of people who start an online business based on the idea of having more freedom and flexibility are in a situation where they have a job or they have a career or another business.
They are paying bills. They’re not going to end up on the streets if they don’t make the online business work.
Antidote to Prevent Failure in your Online Business: The Majority Have Options
Over the last few years Stuart has observed that this is the #1 reason that people fail online. Before elaborating let’s clarify a few things.
Failing is optional. In fact, failing may not really be the right word. A more accurate word to use is “quitting”. The reason people do not go on to build a successful online business is usually because they’ve quit.
They’ve not been forced to quit. They’ve had options. It’s because they’ve not created a business that’s allowed them to live the lifestyle they wanted because they’ve ended up giving-up or quitting.
This is something that Stuart really wants to address because for most of his customers in the Six Figure Mentors (SFM) and the Digital Experts Academy (DEA), building an online business is optional. It’s something that most people want to do for themselves and their families, usually to better their lives.
For that very reason, however, it’s not enough to drive them to succeed. When you are not forced to make something work and it’s based around acquiring nicer things like a luxury car, having more holidays, or quitting the job, you'll notice something in particular.
What you'll find is that people that are working hard already in jobs and careers they are confident of doing and where they are in their comfort zone, the minute the going gets tough or they’re tired one week or things aren’t going as quickly as they had planned, it becomes quite easy for them to put their internet business on the “back burner”.
They will then say to themselves, “I’ll focus on that tomorrow night” or “I’ll focus on it next week.” What you will usually see is when people first get started online is that they are “all in.” They’re turning up and watching training videos and webinars and they’re are making stuff happen.
But several weeks, or sometimes months down the line, that commitment starts to fade four many, many people. Whether you went fro hear this or not, building an online business takes a lot of commitment, a lot of perseverance and it takes time.
Consistency is Key
Of all of Stuart’s successful students that have gone on to create very successful businesses, the average of those has taken six months of solid commitment. Working on their businesses pretty much every single day before that start getting consistent results.
I’m not talking about the odd sale “here or there”, but consistent results where things are starting to happen daily and they can see their lives changing for the better.
The point that Stuart makes in the video is that when you are comfortable and you’re in your “comfort zone” – you’ve got a job, career, business that enables you to pay the bills and put a roof over your head, or you may be more comfortable and have the 3 holidays a year.
This makes it very easy to put things related to your internet business on the “back burner” when you are feeling tired or you can’t be bothered, or you’ve had a stressful week at work.
This without a doubt is the biggest reason why people do not go on to create a “lifestyle by design.” And I’m talking about this lifestyle of being able to be where you want when you want, work when you want, and be with who you want.
The “lifestyle by design” also comes with being able to write your own paycheck and not being restricted by the traditional job or business.
With all that being said, what is the antidote to prevent failure in your online business? What does it take to stay committed and persevere?
One thing that is baffling is that the people that “dip in and out” of the internet business, and don’t follow through or stick to their commitments are often the people with the most potential.
So often these are the people that can make their online business work and make things happen really, really quickly. This could be you that Stuart is talking to in the video.
The antidote to prevent failure in your online business is this. It’s to have a huge vision! It’s to have a big, big vision! Much bigger than wanting to have a larger car on the drive. Much bigger than wanting an extra holiday a year. Much bigger than having a little bit more money in the bank.
Have a Big Vision
You might be thinking that Stuart’s talking about a vision that’s bigger than yourself – but it’s not. It really is about you, particularly in the beginning stages. It’s great to want to go out and save the world but often people need to save themselves first.
When Stuart talks about a “big vision” he’s talking about completely flipping your lifestyle around. Let’s say you are committing right now and you’re averaging a monthly paycheck that allows you to get by and have some of the nicer things in life, like a few holidays a year.
That’s nice but you’ve got to understand that a “big vision” is so significantly different from that. Stuart is talking about a lifestyle where you can work fewer hours, where you can work anywhere in the world, where you don’t have a boss or commute. Where you can scale your income without having to work more hours through working smarter and leveraging, tools, technology, and the internet.
With this lifestyle you can be in a situation where you can get up and travel to sunnier and warmer climates when the weather is bad where you currently are. Or you can get up and take your family away on holiday because you feel like it – taking 2, 3, 4 weeks off at a time if you want to. But still, be in a situation where you are able to support yourself financially.
Create your Desired Lifestyle
One of the exercises Stuart recommends you do is to really take the time to design the lifestyle that you want to build. And he talks about being specific with things like what your average day would look like. Not an amazing day but an average day in the lifestyle you would want.
Think about things like what time you would get up, what would you do in your day. Would you read the newspaper down at the local coffee shop? Would you get up a bit later? Would you do the school run? Would you take some time out to spend with your parents, children or family? Would you devote some of your time to a local charity or your church.
Just think about what you would do differently if every day was your’s for the taking and you could do what you want when you want. As long as you find a couple of hours to run your online business.
Then you can start to build on that vision – holidays, cars, second homes. When you do this you’ll start to realize that you are probably quite far away from that vision right now and in order to get there you’ll need work, commitment and perseverance.
But, it is so worth it and Stuart is an example of that. When there was bad weather in the UK he took and flew out to the beautiful island of Mauritius in the Indian Ocean with sandy beaches and a much warmer climate.
It’s also something that you could do if you use Stuart’s antidote to prevent failure in your online business and be one of those that achieve success and lives the “laptop lifestyle” and all the freedom that it brings.
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