Building a home based business, or an online business, around your passion is tough. There are a lot of mistakes you can make. And some of those mistakes can end up costing you thousands of dollars. On top of that, some of the things can lead to hundreds of hours of frustration.
I know, because I’ve been there and done that.
I banged my head against the wall for several years. Eventually things did click, and I am now making a living doing what I love, but it wasn’t easy. That’s why I want to share some of the most common mistakes with you, so you don’t have to make them.
So let’s jump right in.
1. Where’s the Problem?
Even if you find your passion, you still have to provide value. You have to help people in some way. You have to find the intersection between what you love to do , what people are willing to pay for, and what you’re good at.
In short, you have to find a problem to solve.
People don’t really care about you, they care about themselves. They are constantly asking themselves, “What’s in it for me?” If you can answer that question, you’re on the right track.
You’re too old, too young, your voice is weird, you can’t write, you can’t market, whatever it is, it’s in your head and holding you back. Fear holds everyone back.
And fear can crush your dreams, if you let it.
Fear held me back for years, until I got so sick of it that I took action anyway. I was willing to at least try and see what would happen. And do you know what happened?
The fear eventually disappeared as I moved forward. The key is to jump in before you’re ready. Don’t wait for the stars to align.
Not tomorrow. Not someday. But right now.
3. Technical Mishaps
The choice of software is huge when starting a home based business around your passion, especially an online business. Picking the wrong software can cause frustration down the line.
For example, you need a website to attract customers, and that means you need something to run your website, unless you’re proficient at HTML and want to do it the old-fashioned way. The best option for this is WordPress.
Then you need to build your email list. The best option for this is Aweber, although there are a few others out there that are solid as well. The best way to pick the right software is often to go with what is the most popular. However, beware of spending too much time trying to get things perfect.
Then we have impatience.
You’re most likely not going to build a 6-figure business in 6 months, no matter what some marketers promise you. If you want to build a real home based business, you have to be willing to put in the work. This is a long-term game, and if you’re looking for a quick-fix, you’re reading the wrong article.
Focus on building a business that sustains you, not on making a quick buck.
5. Not Seeking Help
Don’t try to reinvent the wheel.
If you want to make rapid progress, find a coach or join a training course. Learn from those who have gone before you and know what they are doing. I’ve worked with people in every field I’ve gone into. When I started off as a professional poker player, I read books, I took courses, and I worked with successful poker players.
When I ventured into online business, I made the mistake of trying to learn everything myself at first. I eventually came to my senses and found someone I could learn from. Invest in your education and progress. You don’t have to spend years banging your head against the wall.
6. Lack of Focus
Another big mistake is not knowing what to focus on.
This is one of the reasons I recommend you learn from someone who knows what they are doing. They can help point you in the right direction. They can help you focus on tasks that give you the most results.
When I work with clients, the first thing we do is simplify everything. We eliminate what isn’t necessary, and we focus on what produces results. For example, when you start your business, you need to focus on one metric, and that is revenue. You need to bring in more money.
Obviously, you can’t focus everything on making more money, because you’re dealing with human beings. But that’s a topic for another article.
7. Fear of Failure
Last, but not least, you have to fail in order to succeed.
You cannot figure out the perfect formula before you start, so don’t even try. You’ll drive yourself insane. Most successful entrepreneurs aren’t better or smarter than you are. They just don’t give up. They keep trying until they succeed.
And that’s exactly what I did. I spent the first 2-3 years failing until things clicked. If you want to build a successful home-based business around your passion, you have to be willing to fail, and you have to be willing to take action.
And most of all, you have to be willing to face your inner demons.
Featured photo credit: Young man at home using a computer via Shutterstock