Posted: 2006-10-17 / Author: Andrew Leone
Entrepreneurial ThinkingEntrepreneurial Thinking: There is a huge problem that I have been seeing on the Internet these days when it comes to starting up an online business. The problem is that people are unable to actually turn their startup business into a profitable company. To put it simply, I find that new business owners are thinking like employees instead of entrepreneurs. What do I mean by that? Well, let me explain.
When you are an employee of a company you have the mindset of going to work for forty hours a week and collecting a paycheck when the week is done. This gives you a sense of security knowing that you have some type of money coming in, but in reality your are renting out your labor for the rest of your life.
To be honest, this mindset isnâ€™t all that bad. There is nothing wrong with being comfortable with the knowledge that you will have more money to pay the bills with next week, but it is NOT the mindset that you need to build a successful business.
A true entrepreneur knows that it is going to take a little while before their company starts to be profitable, but thatâ€™s o.k. - They are in it for the long run. Now compare a business on the Internet with one in the physical world. On the Internet, there is generally a low cost (if any) to starting up, where in the physical world there is usually a large sum of money involved. Take franchises for example, on the very low end you are still looking at around R20,000 just to start your business.
Since the startup costs are far lower on the Internet, it is much easier for people to cut their losses and get out if they are experiencing any sort of trouble. It is not uncommon for new Internet business owner to still be showing slow results with a webpage at the end of their third month, especially if you donâ€™t have that much experience in internet marketing. This is partially due to the fact that it takes about three months for search engines to really locate your site.
It is important that if you want to think like an entrepreneur, you have to have specific goals in mind and be set on achieving them. Some of the best Internet marketers I know took around ten years to reach R10,000/month but now they are making millions. I guarantee you that if you asked them whether or not it was worth the trouble they wouldnâ€™t hesitate to tell you it was. It may have taken them a while to reach their goals but now they have positioned themselves in such a way that they have income coming in for life.
I urge all you new business owners out there to remind yourselves of your business goals, begin to think like an entrepreneur, and never give up on your dreams.
About the Author: Andrew Leone is an active network-marketer training and developing the skills of entrepreneurs all over the net. Find out how to take charge of your own financial freedom by taking his FREE tour. =>
Top of page