Why People Fail in Home Based Businesses

When business opportunity seekers look for a home based business, they look for certain aspects that fill their own personal needs. They want the freedom of being their own boss and stop living from paycheck to paycheck, and they don’t want to have to follow a weekly schedule doing it. Unfortunately, they see what they think is a legitimate income opportunity only to find out that it isn’t the profitable home based business that they envisioned it to be.

After a few weeks, they realize that the serious home based business opportunity they sunk their money and time into was nothing more than a serious loser. But why did they fail? What did they do wrong? What didn’t they do to allow themselves to succeed? Sometimes it isn’t the fault of the person; it’s that the business wasn’t a good business to begin with. The following are the five main reasons why people fail in home based businesses today.

Reason #1 – Most new business opportunities have no track record. Too many of the newer online businesses are just that --- they are too new and have not been proven. If there are products and/or services involved, it may be that the market is not well established enough. Usually, the only time a company succeeds in such a new endeavor is if they are a Fortune 500 company with a ton of money to burn. This isn’t the case with most of us though. Let the people who can afford doing this lay the groundwork. If it’s too new, it’s too risky.

Reason #2 – If you’ve seen one, you’ve seen them all. It’s an age old cliché, but unfortunately it’s the truth. Most of these revolutionary wealth opportunities are the same songs with different words. They are the same plans and programs that haven’t worked before, so they sure aren’t going to work now.

Reason #3 – Nine times out of 10, the only one getting rich is the one selling the program initially. The promoters are the ones who profit the most because they get hundreds (even thousands) of people just like you to give them money, but it never works the same way for the person paying the promoter.

Reason #4 – If it’s too good to be true, chances are it is --- or it’s illegal. Another unfortunate reality with online businesses is that sometimes, even though they are advertised as a legitimate income opportunity, nothing could be farther from the truth. If you do your due diligence and some research before you invest in a “unique” home business opportunity and you smell a rat, chances are there really is something rotten in Denmark (or wherever the business opportunity is coming from).

Reason #5 – A residual income opportunity may not be residual at all. Many home based business opportunities lack endurance. In other words, they’re here today, but they’re gone tomorrow. In a lot of circumstances they are all hype with no real foundation in reality. And when the hype runs out, so does the hope of having a profitable home based business.