[PART 2] – False eCommerce Expectations You Need To Be Aware Of (And That May Cause You Loose Money)

PART 1 - The Millionaire Master Plan [PUBLISHED]

PART 2 – False eCommerce Expectations You Need To Be Aware Of ( and that may cause you loose money ) [ PUBLISHED ]

PART 3 - The most helpful eCommerce tools you will need to automate your business [ PUBLISHED ]

Attention, everyone! By now, you've likely developed a solid understanding of your online business and are eager to get it up and running. The promise of success is already within your sights. And let's face it, you've already completed half the journey. The next steps involve following your plan diligently, step by step, with our team providing one-on-one guidance to help you make those crucial first sales. However, let me be transparent with you—there's something that many people fail to mention or deliberately hide.

There's a significant reason why the major eCommerce giants thrive, while a staggering 90% of online businesses fail. Even if you possess the perfect eCommerce business plan, a best-selling product, and an impeccable marketing strategy, the reality is that you still face a 90% chance of failure. Here's why most businesses falter and how you can learn from their mistakes to avoid the same fate and elevate your business to the next level.

After years of market analysis, assisting thousands of online businesses in achieving success, running numerous online campaigns, and generating millions of dollars annually, we've discovered a common thread among failing ventures. Many entrepreneurs possess incredible business plans, but they lack the necessary mindset to build a successful online business. It's akin to having all the right tools at your disposal but failing to utilize them effectively. Now, we're about to unveil their biggest mistakes. And believe me, you'll undoubtedly learn how to avoid them.

They don’t understand that it's not a race, it’s a journey.

Imagine a race. The very word suggests competition, with winners and losers. However, in the context of your online business journey, there are no losers. The market is like a vast river that seems endless, and there is room for everyone to thrive. Moreover, as technology continues to advance, the possibilities within the online market are expanding at an astonishing rate.

Some may achieve success earlier than others, while some may need to exert more effort. The path to success is unique for each individual. It's important to understand that there is no one-size-fits-all formula. Now, let's explore the boundless opportunities that await you.

Consistency is the key.

Consistency is key to achieving success. It's important to show up every day and take the next step according to your master plan. Don't let yourself be consumed by what others are doing or saying. There will always be people who doubt your abilities and try to discourage you.

Additionally, there will be countless distractions along the way, like browsing social media or indulging in entertainment instead of focusing on your business. The road to failure is littered with various paths, but the vital lesson to remember is that money doesn't grow on trees without putting in the effort.

There are no shortcuts or lazy paths to success. If you happen to stumble upon a way to make money effortlessly, we'd be genuinely interested in hearing your secret!

Expel the scarcity mindset – realize that there is abundance all around you.

The success of others does not hinder your own chances of succeeding. In fact, their achievements serve as inspiration, demonstrating that it is possible for you to succeed as well. It's important to differentiate between a scarcity mindset and an abundance mindset.

A scarcity mindset operates on the belief that if something doesn't work out, it means failure. On the other hand, an abundance mindset recognizes that if things don't go as planned, it's an opportunity to adapt, learn, and move forward. Another important point to remember is that many individuals fear their product being stolen or that someone else is already selling the same product, which they believe will lead to failure.

However, dwelling on these concerns is unnecessary. Instead, focus on developing and growing your own business without worrying about others. It's unlikely that someone will steal your product and lead you to bankruptcy. Redirect your energy towards building a strong and unique offering, rather than fixating on hypothetical threats.

Being patient is the fastest way to grow your business.

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Let me share with you an interesting experiment called the Stanford marshmallow experiment. This study, conducted in the late 1960s, focused on the concept of delayed gratification. It was led by psychologist Walter Mischel, who was a professor at Stanford University at the time. The experiment involved offering children a choice: they could have one marshmallow immediately or wait for a short period and receive two marshmallows as a reward. The children were left alone in a room and instructed not to eat the marshmallow for fifteen minutes if they wanted the double reward.

What researchers discovered when they followed up with these children throughout their lives was quite fascinating. The children who were able to resist the immediate reward and wait for the bigger prize tended to have better outcomes in various areas of life. They achieved higher educational results, held higher social status, earned more money, maintained healthier body weights, and experienced overall success in life. It became evident that the ability to delay gratification for a greater reward was linked to improved outcomes.

This lesson can be applied to your business decision-making process. When you earn money from your business for the first time, it may be tempting to use it for personal enjoyment or take a break. However, we advise you to consider reinvesting your earnings back into your business. By doing so, you can accelerate its growth and development.

Just as the children who delayed gratification in the marshmallow experiment achieved better results in the long run, reinvesting your profits allows your business to flourish. It's a strategy that can help you grow faster and achieve greater success in the future.

Realize that the shortest path is not always the best path.

Approaching your journey with this perspective allows you to focus on consistent progress rather than being fixated on the end goal alone. Each day presents an opportunity for growth and improvement. By steadily moving forward and embracing the challenges along the way, you open yourself up to unforeseen benefits and possibilities that may have been hidden along the seemingly longer path. Remember, it's the journey itself that holds valuable experiences and lessons that shape your success.

Start implementing the things you learn – JUST start!

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A significant reason why 80% of people fail is because they never take the first step. They become trapped in a cycle of continuous learning, reading, and discussing their big ideas and future wealth, but they fail to actually start their endeavors. To overcome this barrier, it's crucial to establish a ratio between learning and implementation. Aim to spend at least one hour implementing what you have learned for every hour you spend studying.

This article is designed to help you gain valuable experience, and by registering your seller account, you'll gain access to even better information specifically tailored for new eCommerce business owners. However, it's essential to recognize that experience is where you truly learn and grow. That's why we are providing you with the Millionaire Ecommerce Business Master Plan. It's an opportunity for you to roll up your sleeves, get your hands dirty, and gain hands-on experience.

Set up a personal ratio for yourself, ensuring that the time you spend consuming information is matched by an equal amount of time dedicated to implementation. By striking this balance, you'll maximize your learning potential and progress toward achieving your goals. Remember, the key to success lies in taking action and applying what you've learned in the real world.

The map is not the territory.

Image source - [gracefilledworld.com]

Taking action and immersing yourself in the actual experience is vastly different from solely consuming information about it. It's comparable to the relationship between an object and its representation, such as a geographical territory and a map. The two are entirely different in nature. Many businesses fail because their owners come to realize that reality often deviates from what they have read or learned in theory.

This brings to mind the insightful words of Polish-American scientist and philosopher Alfred Korzybski: "The map is not the territory." This statement highlights the distinction between an abstraction or representation and the actual thing itself. It's a reminder that many people confuse maps (representations) with the territory (reality) and mistake models of reality for reality itself.

To navigate this challenge, it is beneficial to utilize this article-tutorial as a model to start your journey. However, as you progress, it is crucial to delve into the specifics of what actually happens and make adjustments accordingly. By embracing the iterative nature of learning and adaptation, you can bridge the gap between theory and practice, refining your approach based on real-world experiences.

Remember, the article-tutorial serves as a valuable starting point, but it's through practical application and adjustment that you truly gain a deep understanding of the business landscape and find the strategies that work best for you.

Act 50 % based on emotions and 50% based on logic.

When it comes to decision-making, people often advise against acting solely based on emotions, and they are partially correct. Emotions play a crucial role in propelling us into action (e-motion literally means "to make you move"), while logic guides our decision-making process. It is important to strike a balance between the two, using them in the appropriate ratio.

For example, let's say you run an advertisement that doesn't yield immediate results. If you let your emotions take over, you might internalize the failure and conclude, "I'm bad at advertising, and I should give up." This negative self-judgment is an emotional response that can hinder progress. However, adopting a different mindset can make a significant difference. Instead, you can view it as a single test in a series of experiments, recognizing that success rarely happens on the first attempt unless luck is exceptionally on your side. By doing so, you use your emotions to recommit yourself to the task and then approach it logically. Analyze the previous experience and determine what changes can be made to achieve better results.

To make informed decisions and fuel your actions effectively, aim to strike a balance of 50% emotion and 50% logic. This allows for both logical decision-making and utilizing emotions in a positive manner to drive motivation. Keep in mind that many startup businesses fail due to mistakes in balancing these elements, with this particular aspect being one of the top reasons for their failure. By adopting a productive approach that integrates both emotion and logic, you can increase your chances of success in the competitive startup landscape.

The motion itself is making the money

If you wait until you have all the information before making a decision, you'll likely never take that crucial first step. It's true that making blind decisions is unwise, but it's also true that hesitating can lead to missed opportunities. Both perspectives hold validity, so the key is to focus on gathering the most relevant information in the shortest amount of time possible. Once you have a sufficient understanding, take action and set things in motion. The faster you can implement your master plan repeatedly, the more adept you will become at executing with speed.

These factors contribute to the high failure rate of online businesses, but by being aware of these pitfalls, you are already on the path to success. Simply having this knowledge puts you ahead of the 90% of businesses that falter. By learning from the mistakes of others, you have the opportunity to create a new life of freedom, where you have control over your time and location by establishing a successful online business. Remember, smart individuals learn from their own mistakes, but wise individuals learn from the mistakes of others. Embrace wisdom, internalize these lessons, and embark on the journey of making your online business thrive.

Stay tunned for the part 3 of this series.