Episode 104 – Why Do The Majority Fail In Home Business?

In today’s video, I talk about why most people in home business fail.

As I explain in the video, it’s usually a lack of planning.

Enjoy the video.

If you are have trouble staying motivated, check out this video I did recently that will give you some tips.

Hope you get lots of value and also feel free to check it out on YouTube here as well.

Enjoy and please share and comment!

Video Transcription

Why most people fail in home businessHi guys, welcome to another episode of Driving with Nick Pratt. In this episode, I am going to talk about why most people fail in home business. I’ve talked about this before, but I have some new insights to share.

One thing I am often wondering about, and what people are asking me, is why do most people fail in home business in general?

I have a few things to say about this, just a few points really.

What I have noticed is that I see a lot of people enter the industry, and it’s like a revolving door. They get involved with something, and then they’re out of that and into another business opportunity. They stick around in the industry a long time, but they don’t really get any results.

I think one of the key factors is very few people actually start with a business plan in home business. In most other businesses, you have a business plan going forward, but in Home Business, MLM or Network Marketing, or anything like that, people don’t start with a proper business plan.

When I first got started, I did have a kind of plan written out, even if it was only two or three pages. It was still hammering out things like how many leads I need to be getting per day, what my conversion rates need to be, how much revenue I need to be generating each week, and each month.

Why most people fail in home businessThe point is, most people just get started without putting any thought into that. They get told maybe to hassle their friends, family or strangers, or something like that, or with an affiliate program, they get told to go out there any buy traffic (which is worthless). They don’t really get that plan.

That’s one of the key things.

The other thing is people do not stick around long enough. I see people who get started with a program, and I think the world record is someone who started a program with me, and got a refund one hour later and decided to do something else.

To be honest, that’s what happens in that industry. People do not stick with anything.

When I join programs, I am very very committed. It’s not really a one-month plan or a two-month plan. It’s a 3-5 year commitment, plus.

I’ll often be getting great results before that, but the point is that I am prepared to stick with it as long as the company is doing good things.

The other thing is that people don’t have proper working hours. They don’t say to themselves they will work X amount of hours per week. They just work when they feel like it, and when you do things like that there is no discipline, there is no system, and you’re not going to get results. You’re just going to be working when you feel like it, and that is often not much time.

Those are some of the core reasons, but one of the most important things I would say is people don’t start anything with a business plan.

Now it doesn’t need to be some sort of forecasting thing, it doesn’t need to be a certain-page-amount business plan, it can just be a two page plan forecasting how many sales you need to make.

What I would say to you is if you want a program where you’re going to be given hand-holding and support but also you’re going to have somebody to put together a proper plan with you, with my program, yes, you do get you own coach going through it to get set up, and that in itself is incredible. They will also help you put together some kind of business plan.

We have a step-by-step program, and I think it’s around step 10 or 11, your coach helps you put together a business plan of how many sales you need to be making on a weekly and monthly basis. If that kind of thing resonates with you and you want o build your business properly, you can go to nickpratt.tv/system (LINK) and that will go over to the program and you can check out what it’s all about.

You’ll also get to work with me as well. THat’s something I recommend if you want to succeed in this industry. Do those things, make sure that you set a business plan, stick with the business a decent amount of time, and the rest of it depends on your system.

About the author

Nick Pratt

I earn a full time income from the Internet and my passion is to teach other regular ordinary people to do the same!