Thousands of people start online businesses every day in this country. Probably millions worldwide.

The problem is, about the same amount of people quit online businesses as join them each month. The failure rate is very high in this industry.

Why do you think that is?

I think it’s because of a thing called “value disconnect“. Essentially, a mismatch between the person and the opportunity that wasn’t predictable ahead of time. Usually due to some failure in communication.

In short, the person who is quitting failed to read - or read into - the sales material at the time of purchase (or do other proper research) to extract the true meaning of the message being communicated by the vendor.

Another way to say it is that they just didn’t do proper due diligence before jumping head-first into an offer.

Why is that so important?

Well, because performing the process of due diligence on an online business opportunity can do wonders in finding the right fit for you, regarding business model, style, system, etc. And it can save you a bunch of time and frustration, money, etc.

But this isn’t about that. This article assumes you have done your due diligence and have chosen or are about to choose the best-fit online business opportunity for you.

Congrats, well done. You now have a much higher chance of succeeding than someone who doesn’t do proper research first.

But now comes the part that probably will be hard - sticking with the decision.

You’ve just paid out a good amount of cash or are positioned to soon, with recurring monthly fees as well. So you’ve got a definite financial investment going on.

That should keep you motivated, right? Hopefully, but maybe not.

You set time aside to build this business, but have barely used it accordingly. You’re filling it with previous, more “comfort zone” activities. What’s going on?

Whatever it is, you have to do one of two things right away:

1. Go after the business like you should have when you first signed-up.

Or…

2. Quit the business completely.

Sure, you could add a third choice of “Do nothing with it. Give it less attention than than one of your lesser hobbies”. But I don’t see the need for choice #3.

Either you are or you aren’t. As Yoda said: “There is no try, there is only do or not do!”
And excuses don’t wash either. They hurt you more than anyone.

You can’t sit around and dream about building it and expect it to get built. Either it was a good fit for you or it wasn’t.

If you realized the error of your ways shortly after you signed-up, you should have asked for a refund and gotten out immediately.

Whatever happened, relax, it’s happened to a lot of us. Don’t beat yourself up about it, just learn from it.

Since you didn’t officially quit yet, the two choices above still prevail.

Dump it if you’re gonna dump it. But decide soon, because the clock is ticking…

Let’s say you decided to keep it, Ok?

Now it’s time to look at it a little differently. Maybe look at it as more of a game. Not drudgery. A personal playful challenge. Less serious.

Sure, it’s serious. But we don’t want you to become obsessed with it. And we don’t want you afraid of success or failure, either. We want you focused, confident and committed to the process.

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Along the way as you build your online business, certain previously undiscovered skills will emerge.

Like article writing or copywriting.  Maybe graphics design.  Who knows, but surely several talents, indeed.

It’s because of how you’ll use your time as you proceed.  You’ll develop those adjunct skills as part of the day to day operations of building your business.

For example, not many new entrepreneurs can afford a graphics designer or copywriter.  So, they save themselves hundreds if not thousands of dollars and take the extra time to learn to do it themselves.

Why?  The answer is simple.  They have more time than money.

As time goes on and their web enterprise grows and thrives, they begin to outsource some of these previously too-expensive tasks.

Why?  Because now they have more money than time.

How do you manage your time?

Trick question, sorry.

You see, no one can manage time.

I really enjoy accurate thinking.

So, the question should always be “How do you manage yourself?”

Quite a shift, don’t you agree?

No longer asking about an intangible substance like time.  I mean, WHO can manage time, after all?  So, we’re all off the hook if we use that term, don’t you see?

Not so fast…

Accurate thinkers accept personal responsibility for their thoughts, words and deeds.  In other words, they see and understand the connections between time, thoughts, words and action.

Acceptance of personal responsibility enables one to reframe the term “time management” into one much more accurate - “self management“.

Now, when you approach your home-based business, remember that time is no longer a valid reason for not doing anything with it.

It’s 100% you - just you.

What do you do with your spare time?

You do nothing with time - it’s another trick question.  Oh, and there’s no such thing as “spare” time to an accurate thinker.

However, if you’ve bought-in to a home business opportunity, spent a considerable chunk of change, promised your spouse and friends stuff, carved-out room in your house and schedule for it…

…You’d better get busy, pal.

Now that you accept that it’s self-management and that it’s all on you, there’s no weaseling out of this deal, bub.

If you treat the time you’ve set aside for your business with the same level of seriousness that you do your job, your business will soon come to be at a similar level of importance as your job in your subconscious mind.

And that’s where it all happens.  Internally.

Success is an inside game.  Remember that.

Many people have agreed that it was about the time that they started making as much from their home-based business as they were at their job, that they started seeing their home business much differently.

At that point, there’s a big shift in the thought processes.  Barriers of fear and unbelief fall away.  Freedom is in sight.  Revenues pick-up even more.  That’s what happens when people think and behave “accurately”…

Note to self:  Manage self, manage business, succeed massively.  Start NOW!

Happy self-management!

If you’ve assessed your skills, resources and motivation and done your due diligence, deciding on an online business opportunity should be relatively easy.

• You should know how much it costs initially, as well as any and all recurring costs.

• You should know how much time it will take you each week in order to meet the minimum requirements for task performance. In other words, if you don’t do these tasks, you won’t make any money.

• You should know whether they provide step-by-step training with their system or not.

• You should know if you need any additional resources, like autoresponder or hosting accounts. Also, whether you’ll need the skills to manage those accounts.

• You should know if there are any additional one-time purchases you’ll need to make - such as for specialized software - or whether everything you’ll need is included.

• You should know how much money you want to make, how you’re going to go about making it and how quickly it’s going to happen.

• You should be prepared to fully commit to this business and dismiss outside distractions - like other business offers - that will slow you down or stop your momentum altogether.

• You should have a good grasp on what other regular folks are saying about the business and what some of their success and failures have been. In other words, you know the good and the bad about this opportunity - from people who are/were actively involved with it.

• You know it’s not a fly-by-night company because they’ve been around for a while and have dozens if not hundreds of listings about them in search engine results pages.

• You have probably read emails and other testimonials from big name marketers extolling the merits of the business. You’ve pored through blogs and forums to get the big picture about this opportunity, the company and the main players/owners.

At this point, it’s simply a matter of matching one grid point against another to choose the opportunity that fits you and your situation best.

Once you’ve done that, it’s decision time.

So, don’t mess around any further - there’s no money to be made in drawing out your research any longer than necessary.

If you’ve done your homework, you’re so far ahead of the average person who jumps into an online business opportunity based solely on an emotional reaction to the sales material and hype.

So, congratulations for that, you’re in the top 10 percentile of opportunity seekers!

Now, make a decision and vow to stick with it for at least six months of diligent effort.
After that, you may realize that perhaps another business model would fit you better.

But for the initial term, do everything required of you - and more, if possible - and you’ll very likely find that making money is actually quite easy if you apply a proven, systematic approach.

The term “due diligence” is a legal term originally used primarily in the securities industry. But these days, it may apply to a wide range of endeavors, including selecting an online business opportunity.

Essentially, it means “do your homework” or the perennial favorite, “look before you leap”.

In other words, know what you’re getting into (or considering getting into) before you commit your time, money or other resources in that direction.

And in this age of Attention Deficit Disorder, instant gratification and disposable everything, few people perform proper due diligence before going off the deep end and making a financial commitment to a web-based business offer.

Maybe it’s the fact that there is normally a fairly low start-up cost associated with the offer, or perhaps the money-back grace period attached to most opportunities that makes people so spontaneous when making a decision about an internet money-making opportunity.

No doubt the cleverly written sales letters for internet marketing opportunities, systems and products that promise vast riches virtually overnight with minimal effort play a large part in such surrender to emotions over basic logic.

Granted, the term due diligence is normally associated with the process of acquiring a business - the brick and mortar type - but it can also be easily applied to many other important decisions as well.

And just because an online business has a small initial or monthly cost, doesn’t make it any less of a business than a multi-million dollar enterprise. It’s simply a matter of scope and scale.

You can buy extensive due diligence checklists for business acquisition purposes, but you’ll rarely find one that deals with what to look for in an online business opportunity.

So, here are a few things anyone with a computer can do to perform due diligence on any opportunity they may be considering getting involved with:

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There are hundreds, if not thousands of different business opportunities and models on the internet. And finding the right fit in an online business can be quite a chore for the uninitiated.

This article will help you ask the right questions so that you can make a more informed decision before you commit your valuable time, energy, money and resources to any online opportunity.

Before I go any further, let’s just define online business as “anything you do online that is designed and intended to make you money in a sustained manner“. Agreed?

Ask The Right Questions -

In your search to find an online business opportunity that interests you, the first place you should look is to yourself. Here are a few questions you should ask yourself:

What are my motivations and intentions with regard to starting an online business? Is it just a hobby or part time thing to keep me occupied, or do I want to build a multi-national, multi-million dollar business? Maybe something in-between those two extremes? Be clear on this.

How much money and time do I have to invest in the endeavor? If you only have a few bucks to spare and only a few hours a week, you shouldn’t be looking at something with greater requirements. You’ll be in over your head from day one and likely quit a few months down the line with little to show for it.

What marketable or profit-generating skills do I currently possess? If you write well, have basic webmaster skills, are familiar with advertising, etc., those are profitable skills. Don’t devalue any of your assets simply because you take them for granted.

Do I feel inclined/committed to learn additional necessary things in order to develop proficiency in the business? Would you be willing and able to learn various advertising methods, traffic generation strategies, marketing techniques, etc?

How much money do I want/expect to make? Despite what many of the salesletters and promotional material says, only a tiny percentage of online business initiates make any significant incomes from their efforts during the first 18-24 months.

The ones who do make money are usually the ones who don’t get distracted by other offers or frustrated by their lack of progress. They are also the ones who really apply themselves to that one opportunity - and only that - until they start to see results.

What is the timeline I’ve set for my success? Again, most “overnight successes” on the internet have been slogging along for two years, usually more. That is, if they don’t get frustrated and throw in the towel before then. Yes, many people make some income right away, but not enough to retire on. In fact, not enough to even replace their job’s income. So, despite the number of “get rich quick” schemes online, in reality, few people truly do get rich quick. It takes time and perseverance to make things happen.

It might be wise to write down these questions as well as your answers to them. You’ll use them later for a memory jogger or reality check when you start evaluating various business offers.

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