Episode 120 – 3 Mistakes People Make In Home Business

In today’s video, I talk about the three mistakes I see people making when they are starting with their home businesses.

As I discuss, people are typically underestimating the challenges of home businesses and not being realistic.

Please enjoy the video!

If you’re interested in starting with the right mindset, check out this video that explains how to get yourself into the right mindset from the beginning!

I hope you get a lot of value from this video, and please like and share!

Video Transcription

3 mistakes people make in home businessHi guys, and welcome to another episode of driving with Nick Pratt. In this episode, I’m going to talk about the top three mistake that people make getting into this industry, whether it’s the home business industry, or affiliate marketing, and those kinds of things – or really, any business.

I’ve done quite a few of these videos before; things like the 3 mistakes people make, 5 mistakes to avoid, but this is kind of a new take.

The points I want to give are different from the ones I have given in the past. It’s really things you need to watch out for if you’re new coming into this industry, but it could just be in your first 6 months.

So here are the top three mistakes people make with their mindset when they into the industry and starting to build a business in general.

1. Underestimating the challenge

I am sure you may be able to relate to that – I certainly can. When I first started in the industry, I am sure a lot of people fall into the same trap, I thought to myself that it probably wouldn’t be that difficult. If I pull some late nights, I can get this thing off the ground in a couple of weeks and have some real momentum going. 

I notice that when people are getting started they are very hungry and have this kind of mindset, but it doesn’t really work like that. If you’ve built a business before you know it doesn’t happen in a few weeks. In a lot of cases it may not even happen within a few months. A lot of people know it’s going to be challenging, but don’t know exactly how challenging it will be. It’s as difficult as learning a musical instrument or learning a language. I am a musician and I have learned languages, and that is a good equivalency.

Building a business is not an easy thing, it’s not going to take a few weeks,

2. Taking on too many marketing strategies

3 mistakes people make in home businessI’ve said this before – people get started and they want to to do Pinterest, Facebook, Instagram, Twitter and blogging, they want to do the whole lot because they think that the more they do the faster it will go.

In fact, it doesn’t really work like that because taking on each of those marketing strategies is tough. You really need to focus on one to get it to it’s critical mass. If you take on lots of different ones, none of them will get to that critical mass or produce any great results.

3. Setting a deadline

What people will do when starting a business, and all kinds of business not just home businesses, people set a deadline. They say to themselves “I’ve lost my job, and that redundancy package will last me 6 months – I am going to try and build a business and if it hasn’t worked after 6 months, then that’s it.”

This is absolutely crazy! Although on one hand it is good to set a goal and give yourself some pressure to succeed, but I don’t think you can say that after 6 months you’ll walk away. The problem with that is it sets you up for a lot of disappointment. When it doesn’t happen within 6 months, you’ve put all this pressure on it.

Those are the three points. I hope you were able to relate to them and get some value from them. If you’re not on my website, go to NickPratt.tv and check out the videos there, share this video if you got value and I’ll see you on the next episode!

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!