“Do you have a plan for your Internet business?”

Earning your first sale is exciting. The Internet has allowed many entrepreneurs to feel the excitement of their first sale relatively quickly. Entrepreneurs should be careful, though, because this excitement can often lead to mistakes if you aren’t careful or don’t know what you are doing. On the other hand, you can also earn success through accidents. Your mistakes may turn into lessons that help you generate a profit farther in the future.

Some people cause this beginner’s luck. However, the main point is that these people took action. They didn’t just think about an Internet business. They didn’t sit back. They didn’t get rich by trading time for dollars because this is the same as a salaried job. These accidental Internet millionaires came to realize that they can leverage their experience, education, and Internet business know-how to earn money like a true entrepreneur. They make money not by trading time for dollars, but by making residual income through multiple streams of income.

Do you find yourself reading book after book on Internet businesses? Do you travel from seminar to seminar always in search of more information? Do you feel that you can’t quite get enough information? This may be a form of procrastination that can hold you back. Too much information can be debilitating in that you don’t take action on your actual Internet business.

One mistake that can result from the procrastination and lack of knowledge is the lack of a business plan for your Internet business. How important is a business plan for your Internet business? It is crucial. Why? Before you engage in your Internet business you should think about what you want to accomplish. What goals do you have? What results do you want achieve? What strategies are you going to use to achieve these goals? Taking into account these plans is critical. Planning enables you to monitor your progress and head toward your goals instead of flying off in a million directions.

Most entrepreneurs are highly creative. This does not mean that they are logical. You may be an “idea” person. You have tons of ideas in mind, but these ideas take you down the wrong path. A successful entrepreneur has to incorporate logic by breaking down their ideas and goals into small chunks. This helps you actually follow through on your ideas as opposed to just generating one idea after another.

Is your Internet business failing, distracted, and not achieving the goals that you desire? Before you point your finger at your partners and employees, take a good look at yourself in the mirror. Find out if your lack of business plan and/or procrastination is your fault. If you answer honestly you will realize it is and take action to remedy the situation.

Warmest regards,

Matt Bacak

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