The 5 Reasons Homepreneurs FAIL in Their Business

I've lately been reading a lot of advice from all over the place to just think BIG enough and things will start showing up in your life. Being a visionary myself, this is how I naturally think and I also know very well the downside of the big picture thinking. And it has a downside that can easily put you out of business before you even notice it. So let me share the pitfalls of failing before you even go there.

(1) Keep on trying
Taking action and trying are two completely different things and there is a fine line in that. Trying is taking actions that do not bring you the results while taking action is going out and getting it. And when you go out to get it do not forget – even though constantly being in action keeps you in the routine to achieve more and more, half-done projects and half-finished tasks and half-executed promised may get you not half-results but sometimes much less. Sometimes this half-done work can really damage your business representing you as only half -delivery.

(2) Investing in top-notch tools
If you live in a penthouse apartment your real estate tax will be much much higher than if your live in a tiny one bedroom apartment. And it appears to be common sense to know that. What amazes me is that way too many start-up businesses jump into the fancy tools of the multi-million dollar companies and spend their seed money on expensive tools. It is always good to look at where you want to be and to gradually upgrade your tools on a needs basis.

(3) Forgetting what will bring you “There”
The quickest way to get an entrepreneur wrinkle her face is to ask them when are you going to get your next prospect to sign up with you. Why? Because they feel powerless. Whether the prospect signs up with them is both a choice of the homepreneur and the prospect. Now, in order to start bringing clients in consistently, there need to something else set up in place than just the hunting for clients. There needs to be a PLAN – sales strategies, marketing plan, business outlook, PR campaigns. Should you loose sight of your long term goal of stability, the search for clients can turn into a repeating struggle.

(4) Not being gracious with their clients
I’ve heard this story over and over again and I really hope that people will eventually get tired of it and will see through it. As a marketing strategy start-ups are told that when they start getting business – they will be able to control the client load, the payments they receive, how much time they will be working, what kind of revenue they will be bringing in, etc. It’s just too good to be true if you are not with 5 or 10 years of experience in business. And even then- late nights work, unsuccessful campaigns and compromises with personal life are to be expected. The most ignored factor in this equation is: the client payments. Remember, clients are sometimes late with their payments. So, be careful how you will approach this as money exchanges are the fastest way to build a trusting relationship with your clients … or to burn the bridge for Ever.

(5) Being super busy all the time
All you own is – this very moment. That’s it. You miss it and you’ve lost the chance to get max results with min efforts. What most entrepreneur fail to recognise is that busy is not good. It’s not bad either. It simply means: I do not have enough time for everything on my to-do list. If you have the work done and the money coming in, then busy is good. If you keep being everywhere and doing everything and achieving only so much results, then busy means: time to start using the time on your hands much more effectively so that you become more productive for less time spent.