How To Start A Business - Top 10 Mistakes To Avoid

How To Start A Business - Top 10 Mistakes To Avoid

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A lot of people who want to know how to start, an online business will, come out on my webinars, or talk to me at the events I speak at and, typically. There will be a top, ten list of mistakes that I will see time, and time again and, so, I feel that it's really fitting to share, what these mistakes are in the, hope that if you two are looking to start an online business you, can get a little bit of an idea of some of the pitfalls, to avoid and, really. Get, clear on how, you can, start, creating some success, in your business and ultimately in your life okay. So let's, go through the top ten right now mistake. Number one. Comparing. Yourself, to other people so. When. People start in business it's, pretty, typical to look the, people who have achieved the result already which is great by the way modeling, people that have achieved the result is literally, one of the keys to success but, a trap that people, then fall into is, they'll compare, the, difference, between where they're at which is obviously just starting out and brand new and where. The person they're modeling is at and they've obviously been doing it for a very long time in some cases and it's, that comparison, which, can cause a lot of anxiety and, a lot of stress, and a lot of fear and a lot of lack and we, kind of give ourselves the sense that we have an unscalable, mountain. To climb and, because of that people. Often stop taking action, okay. So number, one do. Not compare, yourself to, other, people who are way further ahead of you on the journey then. Wait further ahead like they've had so, many more, experiences. And so much more practice. You. Don't need to compare yourself if. You're gonna compare yourself to anything which, you wouldn't recommend doing but if you're gonna compare yourself just, compare, your today to your yesterday, and as long as you're moving forward and taking those steps that's. The important thing so. Number two is believing. That there's, a magic, tactic, or a magic, strategy, or just a secret, how, out, there, that. We're missing and. Believing. That there's like some, kind of secret formula, or some kind of magic bullet is what, keeps people from doing the things that really can, which. Is persistence. Which is hard work which, is committing, every single day to building, the right habits, they're, gonna ultimately move them Ford's. There. Isn't a magic secret. It's. Really, quite basic. How to succeed, you know the basic steps are have. A very clear vision of where you're going set, goals that are going to drive you towards that vision build. The right habits, and do the right things consistently, every single day that will move you closer to those goals overcome. Fear, be, resourceful. And never. Give up and never quit if you do those six things eventually. No matter how long it takes you will succeed it's, quite simple, and, yet especially, when we're starting out we'll convince ourselves that I don't know we don't need to do all of that hard work stuff, there's, just got to be something just some sort of magic secret out there and if I can just find that it's, gonna save me a whole load of time and I'll achieve my success, just like that doesn't. Work that way and as. Long as we cling on to that illusion it's, just gonna keep us stuck and it's gonna keep us away from putting our focus into the things that really count okay. Which is vision goals habits. And daily method of operation, overcome. Fear resourcefulness, and never quit focus. On that that's. What other people who achieve success but their focus into that's, what you should put your focus into if you want to model the result that they've created and that, brings us on to step. Three which is get-rich-quick, mentality. Okay. So again. People believing, that there's this way. Like get rich in 30 days or, you. Know just basically fast tracked results, again. It's taking our focus away from the stuff that really counts, and people. When, they start an online business and they've got this get-rich-quick, mentality. Give. Up way too easily, first. Sign of challenge first time if things get hard that's, it they throw in the towel ah you, know I've been doing this for 30 days and I'm not millionaire, yet and because. Of that like this whole online business thing is a scam it's, like come on if you were starting a brick-and-mortar business.

How. Much time would you expect to put in before you start seeing results if. You were joining the gym and you wanted to get into Olympic, level athlete, shape how, much time would you expect to put in before you start seeing results and, yet we starting online business and it's like 30, no results, it's a scam. That's. Ridiculous, like come on we know that's ridiculous, so, ditch the get-rich-quick mentality and, listen. If you. Know why you're doing this you've. Got a reason, why, ask. Yourself, are you still, going to want to create that, thing, in your life whatever that is are you still gonna want to create that a year, from now two. Years from now five years from, now, because. If you're still gonna want to create it then. No matter how long it takes is. It gonna be worth it and if. The answer is yes. Ditch, the get-rich-quick mentality, because. It's just gonna sabotage, you I just. Be prepared to do whatever it takes we've got to be in this mindset of whatever it, takes no. Matter how long it takes we. Will just keep going okay. So ditch the get-rich-quick mindset. And, that also ties us actually into number four which is giving up way too quickly. Okay. So again, if you can get ditch the get-rich-quick mindset. And if, you can make sure that your expectations. For doing. What it takes or being willing, to do whatever it takes if you're willing, to get uncomfortable, enough and if you're willing to put in the work without seeing, the results, it's, gonna really help you make sure that you don't give up right before you, do achieve that result I mean, a lot of us you might have seen that image, of the little, guy with the mining pic that's mining for the diamond, and the picture. Is basically him in is him in the mud and he's, like tunneled, all the way through the mud and there's a giant diamond just here and he's, got right in front of the diamond, and then he's just given up and he's turned back and he's walking away and he's within a little whisker of getting that giant diamond, okay. So there's. Many many ways that you can embody. Strategies. In your daily method of operations, to just make sure that you keep going and a. Guy that I got a strategy, that I got from a guy called ed. My let I think his name is I lives listening to his podcast awhile ago I was recommended, it by someone in my online, business community, actually and. That podcast in, that podcast ed, Mallette talks about his mantra. Of just. One more so. He'll do when he's working out just, one more rep you. Know when he's like, making calls in his business just one more call when. He's implementing, new strategies just one more strategy his whole thing is just one more just one more, and having. This mantra means that he will always push himself just.

That Little bit further every single day and it adds up really. Makes a difference, okay. So just be willing to not, give up on yourself on, your goals on your dreams which. Brings us onto number five, which. Is people do not have a clear, vision, of where. They're going or why they're doing this or who they want to become what. They want to do, okay. So, clear. Vision got to know why, is it we're doing this because. It's that that's gonna drive you when it really gets tough when, you encounter. A big, challenge you, know maybe it's building your first website and you're pulling your hair out because WordPress is, driving you crazy. Whatever. It is if you have that vision you've. Got something, there that's bigger, than you that's gonna draw you forwards. And you're not relying on willpower because. If we rely on willpower. Willpower. Is finite, it's like a battery, there's, gonna be times when you get home from work in the evening and the last thing you can be bothered to do is open the laptop and work for a few hours, but. You've got to have that reason, that's bigger than you if. You've got kids do. If your kids. You. Know if you've got people, you care about family. Loved ones do, it for them if. You've, got other people impact. That you want to create in the world, you. Know ask yourself if you had a say million dollars paid into your bank account today or a million pounds paid into your bank account today what. Would you start doing with your life we'll. Make that your reason why. And. Make it not about the money. So. Using that analogy means you can say well let's take the money out of the equation let's take my financial, scarcity. Beliefs and let's take my fears out of the equation, you've got money fine now what now what do you do yeah you might go on holiday do the traveling theme for six months you might buy that car that you've wanted to buy but then what what, you're gonna do after that because. The money is not gonna buy you happiness.

Doesn't. Work like that. Okay, so what. Is it what's the life that you ultimately want, to be living who do you want to be being and what do you want to be doing and then use that as your driver, to. Keep you moving forward when things get tough and. Then. Number six is not, committing. To one path I see this so much so people. Especially. In online business because there's lots of different ways of doing it right there's. People who you know you can start affiliate marketing companies lots, of different affiliate companies in lots of different niches with loads of different marketing strategies you. Can start ecommerce, business, physical, products and you, might do drop shipping you might you know be looking at your own product you might be using Shopify, Amazon. FBA you. Know you might even start consultancy. Business you might start an agency you might start social, media marketing, you might still like you could go on and on and on there's, so many different way to succeed, particularly, online and, so. This, is both a good thing and it, also means, that people will, often. Get, and call, it magpie syndrome, by shiny object, syndrome so. Many different choices and they'll start one and it gets hard and then okay well that's difficult now let me start another one because this one will be easier then they start another one and there are our e-commerce is crap so let me try this one instead affiliate marketing let's do that and they just keep giving up whenever it gets challenging and because of that they never make the breakthroughs, and master, anything they. Become the jack of all trades but the master of none. So. You've got to pick a path and you have to commit, to it now. Clara to clarify something here that, doesn't, mean just doing the same thing again and again and again and again and just failing again and again but just doing the same thing and not making any changes, that's, the definition of insanity don't. Do that, but. Commit, to succeed, down one path and whenever, you fail we'll learn from it pivot, and look at another way of succeeding down that path but. You've chosen your path make. That path work, just. Commit to it. Because. 95%. Of people are gonna give up before, they, achieve the result you've got to decide that you're gonna be in the 5%, who just keep going if, you're in the 5%, who just keep going where you can decide to be in the 5%, by deciding, that you're not going to quit you can side from the word go whether, you will be in the five percenter succeed and therefore. Whether you will have a hundred percent chance of succeeding. But. If you cannot decide that, you're never gonna quit and you can't truly, mean that well. Then, you're not in the five percent. Your, going to go into the 95 percent that fail and then maybe make excuses, about our online businesses, to our that's, saturated, blah blah blah it's, not as like and being further from the truth we're not even at the tip of the iceberg yet, but. Yeah so just be decided, or decide sorry that you're gonna commit to one path and then just keep going no matter what and. Then. Number seven is not created, the right habits, and not focusing. On the highest, impact, tasks, that are going to actually move your force towards your result so. The result that you create in your life is the result of what you do every single day and what, you do every, single day are, your habits. They. Can either be negative, or they can be positive and, we, get to choose what I habits are by. What we do every single day we can build our habits. So. With that in mind we've got to make sure that we're building the right habits, and that when we're actually sitting, down to, work on our, business we're, focusing, on the one thing that, is going to have the highest impact, on moving us towards our goals, apply. The 80/20 rule Pareto's, principle, right, we've got to be doing the 20%, of things that are going to yield 80%, of the impact and, if. We're constantly focusing. On the right things gonna, have an exponential. Increase in, the, result that we create and it will exponentially, reduce, the time it takes us to create that result but, the caveat or the catch is that the highest impact things are generally going to be the most overwhelming the, most frustrating, the most scary, and, farthest outside of our comfort zones and because of that are the most scary we feel the most fear so.

We've Got to recognize that if, we want to grow, and we want to move forwards, we've, got to do the things that scare us we've, got to be willing to just dive in face-first, into fear. Okay. So make, that a. Fundamental. Part of what you're doing every day build the right habits and do the highest impact things that are going to drive you towards you goals and. Then number eight is that when people do start an online business they. Ultimately, end up marketing, to everyone and, when, you market to everyone, you market to no one. Let. Me put it this way let's say for example you. Were, let's. Say your. Pipes. Burst in your house right, and you've. Got water just. Exploding. All over your kitchen like, flooding, everything all, your possessions are you, know just getting destroyed, and you're, like frantically. Trying to find your phone to. Google. Someone, who can help you with this problem let's. Say you type something into Google type, like emergency, plumbing repairs in other nope Essex oh say you're from Essex right if you type emergency, plumbing repairs in Essex in your family you see two adverts, one. Of them says hey my name's Bob I can help you with anything. And everything I do fences. I do, electrics. I do plumbing, I do. You. Know sheds I do like. Building, work I do patio, I do everything, so wherever you need just give me a call and I'll come and help you out but. Then the second, result that you see is. An advert that says emergency. Plumbing. Repairs, specialist. We, help you in high-pressure, emergency. Situations. To get your problems, resolved, ASAP. Floods. No problem, that's all we do we've got a lot of experience, if your kitchen pipes are and. Obviously I'm making this up off the top of my head but if your kitchen pipe has exploded, that, is our specialty call us right now, who. Are you going to call in, that situation. If your kitchen pipe has just exploded, everywhere. All. Right you're gonna call the specialist the guy who does, this for a living because you know that they are going to be really, good at solving that problem that's, the only problem they solve is what they do and, the. Beauty of online business, is that, you're online, so. Your business you can get in touch with anyone, in the entire world. Okay. If you're creating, a businesses not geographically. Constrained if, you're operating, digitally. Then. It means that you, have the freedom to target, anyone and everyone in the world. Now. Let's, say that you sold a product that worth other, than a thousand, dollars so you sell a thousand, dollar product and you. Want to make your first million, well. And to. Keep it super simple for this exercise, let's ignore profit, margins, and marketing expenses, and operating, cost ignore all of that let's, just say, thousand. Dollar sale you, want to make a million in revenue, so, how many thousand, dollar sales you need to need to make to make a million all right thousand, times a thousand is a million so you need a thousand, customers to make a million in revenue so if that's the case well. You have the entire, world, population, who. Are on the internet a target, and you've, got to find a thousand, people whose problems, that you can solve. Now. If you are thinking, or we have the thought of yeah but if I don't, say I can do all of lots of different things so if I don't say all the things that I can do then I'm missing customers.

Well. Actually if. You become the jack of all trades you're, not getting any customers, because nobody sees you as an expert and in the online world they. Can find people who are very, very, focused. On helping them achieve a specific problem. Because. People, who succeed recognize. That if you're a specialist. You. Can target the entire world, so you will never have a shortage of customers and. So the more laser-focused. You can get on to the value that you provide to, one, specific. Pain or problem that you're the master, of solving, all, you need to do is directly. Get in front of people who have that exact, pain or problem and you are going to be the right cuts or the right business story for the right customer at the right time. So. That's the key you've become, a specialist, do not market to everyone do not try and solve everyone's problems you. Know there's so many life coaches, online now people. Go into life coaching, and they'll sort of be like oh I can help you with any problem, whatsoever that, you have just come to me the, market is filled with generalists. Be. A specialist. If you want to go down coaching, in that example you know be a specialist. You saw one, specific. Problem and you're the master, of that problem and when. You start getting involved in a community right. That, that helps people with that problem you, can become the master, of that community. And apply. This concept in your business all, right become, the specialist, not the jack-of-all-trades and, then, number nine is going at it completely alone, so, a lot of people will start out they've, never done this before and they'll, literally go out into the big wide world with no support, no community, no mentors, no, accountability, groups nobody. To turn to in any way whatsoever and, then wonder why they fail, it's. Like you know imagine you were, training. To be, I, don't, know a professional golfer. For example, now. Is it possible to do it on your own yes. It's, possible it's, generally, gonna take you ten times longer you're, gonna have to figure out so much stuff that other people have already figured out you're, not gonna be able to see your own flaws as much as a mentor who's already walked the path looking, at you could, see your flaws and point you out and course-correct, it's gonna be a lot. Lot a lot harder, okay. So it's possible yes. But. If you want to achieve a result in. A short time well. Get, yourself involved with people who can help you achieve that result you. Know other people who are doing it with you if you can see them making the breakthroughs, the stages, of their businesses, that you're at right now, your.

Belief Is gonna start to skyrocket because, you'll start seeing what if they can do it I can do it you, know mentors, are great because they can guide you and course, correct you but. Somebody who's made like 10 million online when, we're sitting on 0 we can't relate to that they're, so far ahead that, we. Don't see the steps but when somebody who's also was on 0 last week but they've just made their first sale and you're like hold, on wait, they've just made their first sale online and they're, just like me and they're. Doing the things that I'm doing so, I might be really close to making my first sale online what, did they do to do that that. Then fuels your belief that actually, you can do this ok. So there's benefits to mentors, there's benefits, to people like you and community, there's benefits to accountability, groups of people of all levels there's. Benefits, to join in webinars, again. Mixed. Environments, so, get yourself into a community. It's. So important, and just below this video I got. Involved when I first, an online business there, was a community, that I got involved with education. Company, mentors, accountability. Webinars. Training education. Partnerships. With other companies, that offer all loads of stuff to help people in an online business as well it is so, important, to, find yourself, that environment, and if you don't want to do it through the same company I did that's fine like there's no problem at all but just find yourself something just. Someplace, that you can go and speak, to people I gotta. Have, mentors. And a community around us who can help us move forwards in what we're trying to achieve and then. The final one number ten is that we've got to be willing to invest in ourselves. Because. If we're trying to achieve something, that we've never achieved, before and it's outside of our realm of possibility. Then. For, us to achieve that we've. Got to grow we've got to become, something more we've, got to step into a new version of ourselves, and. If, we already knew what we had to do to become that version of ourselves where we already knew how to overcome, the challenges, that we're facing then. We probably already be doing it the. Fact is we don't know what we don't know and, by. Investing in yourself you're giving yourself new, ideas, you're giving yourself where you're putting yourself in new environments you're, surrounding, yourself with, new people getting new education. You're getting new, mentors, who can guide you in new ways open, up new possibilities. You. Know investing, in yourself is the best investment, that you will ever make because.

You Can invest in assets, you can invest in property, stocks, bonds, crypto. Like, all this different stuff but ultimately. Something. Could happen and that investment could go and then. What you're left with is well. You've, lost an investment, like you've learned some lessons sure. But. What, you're essentially, left with isn't, worth less than the investment that you made but. If you invest in yourself that. Will. Stay with you no. Matter what and if. That's the case if that's the best investment that you can ever make the. Only way that you will lose. An investment, that you make in yourself, is if, you stop growing and stop moving forward, and give up on yourself and your dreams and if. You refuse, to quit no, matter what and you know that you're just gonna keep going until you. Achieve what it is you're wanting to achieve, well. That investment. In yourself it will. Return. On that, investment and. If. You're saying that the reason you can't invest in yourself is because you don't have the money, well. No money. Is as a result, it comes as a result of investing. In yourself because when you invest in yourself then, you grow and what becomes possible for, you grows as well if. You're saying I can't invest in myself I can't go to that seminar, I can't buy that course I can't buy that education. Because, I don't have the money well, that's like saying I can't join the gym yet because I don't have six-pack ABS when, I get six-pack, ABS then I can join the gym, that's. Madness. Investing. In yourself or, not investing. In yourself because you don't have money is, like saying I can't go to the gym because I don't have six-pack ABS. Switch. That belief on its head realize, that find. The money get to the event and then you will increase your potential to. Grow that's. The way round that you need to step into if you're going to achieve success in your life you've, got to become the. Version, of yourself who, will invest in themselves who, will create results in their life and who will do what it takes to make those results happen you've got to become that version of yourself before, you can achieve the result that that version of yourself would achieve you, don't get the ABS before doing the workout to get the ABS you, don't get the money before, investing, in yourself and learning the skills and becoming the person who, is capable of creating that money that well. Okay. So get. That right go into things with the right expectations. Be willing to invest yourself remember.

These 10 reasons that people fail and then, hopefully you, can make sure that you avoid these, reasons, as well and focus on these six things that drive success, alright so clear vision have, goals set goals build, the right habits and the right daily method of operation, overcome. Fear get. Resourceful. Figure stuff out and finally. Never, give up never quit and. If you do that you. Will achieve success. Now, disclaimer. Obviously we've got to say that success is not guaranteed because it's down to the individual person you, decide whether you're gonna succeed, if. You decide that you're never gonna quit in them out of what you're gonna keep moving forward or, you will succeed but that's on you nobody. Can guarantee anything, apart. From yourself, I, say. You decide is your, success guaranteed are you guaranteeing your, own success, well, if you're making that guarantee, to yourself, and you're, committing, to it then. You've already decided, you've already chosen to be the person who's gonna succeed, okay. So thanks. Very much for watching if you've enjoyed this video then. Don't forget to subscribe you, should see it on the screen right now you'll also see more videos of, similar, kind of things I talk about online business and I talk about personal, growth and mindset, if you found it valuable you can watch more right now and finally. How you've enjoyed it hope it's helped and I shall see you in the next video speak. To you soon bye for now.

2019-07-18 07:53

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Thanks Dan! This is definitely helpful

You're welcome bud, glad you found it helpful

Always a bundle of wisdom, Mr Holloway!

Cheers Eva

Interesting information about how to handle in your own business

Glad you found it valuable Daylin

Wise is the man who learns from his mistakes, wiser is the one who learns from the mistakes of others. Important for people taking the first steps to remember these

Awesome perspective bud, appreciate you sharing that

Wow great advice, thanks for sharing your opinion.

You're welcome Aaftey, glad you found it valuable :)


WOW!!! This really helped me see many areas for improvement. 7 and 8 really hit home for me. Ty for your awesome commitment to helping others succeed.

Hey George, glad you found valuable bud :) You're very welcome!

thanks for the inspiration, 6,7,8 very useful advice

You're welcome, glad you found it useful :)

Thank you.

You're welcome :)

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