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What Holds People Back from Starting a Home-Based Business?

We all know how massive the rise of home-based business and entrepreneurship is across the country, and across the entire world. Everyday 78,000 people are going to start a home business, and many times that are going to search online for the ‘right’ business opportunity for them to get involved with.

So what accounts for the difference between the number of people that decide to pursue their dreams, and all those that are searching but don’t take any action? What holds people back from taking that huge step and start working for themselves?

The obvious answer is that aspiring entrepreneurs are held back by lack of money. After all, with most high-ticket internet businesses, it does cost somewhere between $495 and $5000 to buy-in, depending on what level of profits you want to earn. But is the investment requirement REALLY such a barrier?

I don’t think so. It’s actually a lot easier than one might expect to come up with the investment capital. For example, I wrote an article on ‘How to Lower My Bills and raise about $1700 to start MyInternetBusiness in the Process!’ If someone is serious about working from home, then they will find ways to come up with the money it takes to get started. Especially with the economic stimulus plan payments going out even now, it has never been easier for individuals to invest in their home-based business.

Ok, so if it isn’t money (though I’m sure your prospects may tell you otherwise!), what IS IT that holds people back from starting the Journey of the Entrepreneur and earning thousands every month, or even week?

Really, though, it is the fear factor. Fear of failure. Fear of embarrassment. Fear of trying something new. Many people are not able to think beyond their current understanding of the world and how money works; by that, I mean that your skittish prospect ‘Jane’ may well be thinking, ‘Well, I don’t know how to do marketing, so how could I possibly make money with MyInternetBusiness?’ Because Jane has never earned money online, she doesn’t understand that she could be making $1000 per month, or week, or ever per day.

The home-based business goes completely against the concept of what people are taught in school and in the corporate world. The conventional wisdom is that if you work hard, you will get a good job with a nice salary. The more qualifications you have, the better your salary will be.

Home-based business is just the opposite. In the world of network marketing, you can become wealthy with little or no qualifications. This goes against the grain of how normal people think, beleaguered as they are with the modern-day-slavery that is Corporate America, so that they immediately throw up walls of excuses, doubts, and disbelief to separate them from this strange concept of financial freedom.

So the only thing holding back Jane from becoming wealthy with her Internet Business is her own fear of the unknown. For the ‘Janes’ of the world who are able to accept that there is a whole world out there of ordinary people making extraordinary amounts of money OUTSIDE of their J.O.B’s, who are just waiting to teach her how to do the exact same thing, the power of internet marketing will change their lives for the better.

And for the Jane’s who refuse to believe it because they don’t understand it, they continue to make excuses and sink deeper into debt, their dreams of retirement fading away like smoke in the Autumn wind.

Which kind of Jane/Joe are YOU?

5 Steps to Quit Your Day Job and Start Online

I read a discussion thread in a forum on a weekly — if not daily — basis about how people are struggling to quit their job to start online. The promise of working at the comfort of their own home and be their own boss are very compelling. Not to mention the kind of lifestyle they could get by working from anywhere in the world.

The problem is, success doesn’t come overnight. It takes a lot of time and effort.

For those who have the luxury of others supporting them while they plunge into the new venture full time, congratulations! However, not all people are that lucky. Most still can’t leave their job because that is the only source of income to support them.

Don’t give up hope though. Here are 5 steps you can take to start online and quit your job without much pain. If you aren’t afraid to work hard, this can be a great model for you:

1. Keep your day job
If your day job doesn’t allow you to work 8 hours and you must work overtime most of the day, find another job. It doesn’t have to be something you like, just something that could support you. Note that you’re doing this momentarily.

That way, you can allocate more time to work on your online business. Three to five hours per day is a good start.

2. Aim high, but start with the lowest hanging fruit
You can’t afford to be slow. Although you can build one business slowly and steadily, it is always recommended that you start with the lowest hanging fruit. It doesn’t have to be the main business you want to work on.

Some ideas include working as a freelance, offering services to others who need it. If you can make web sites, find local businesses who are looking to get their business online. If you are good at designing graphical elements, offer your design work to start the income stream.

After you’ve successfully build the income to the level that it can support your living expense, it’s time to quit your job. Although it may not be the kind of business you want, it’s obviously better than working for others.

3. Invest in yourself first
To contribute and make a difference to the world, you must invest in yourself and build a better individual first. This is also required to build your own business.

Just because you’re good and knowledgeable in programming doesn’t mean you can build a successful software business. Know your strengths and weaknesses and invest in improving yourself.

4. Balance with actions
Nothing turns in life without actions. Ideas are important but if there’s no action, there’s no result. It is important that you balance learning with taking actions.

After you gain some confidence with some of the online business models, you can start planning and doing.

5. Never give up
Others have been there and done it. There’s no reason it can’t work for you. Let’s admit it, if it doesn’t work, most likely the problem is in how you do it. Don’t expect different results if you keep doing the same thing.

With that said, I don’t recommend that you jump from one web site to another. It is just a complete waste of time. Focus on one or two and work on it until you see results. Building your name, credibility, getting the traffic, growing your list, maintaining relationship with the audience, all take time. It’s very critical that you are patient and persistent.

Quitting your day job and risking everything to start online is not a smart move for most people. With this easy model, you can start online safely and go full time gradually.