Trends I've Noticed in the Home Business Industry
Today, I'd like to share some trends I've noticed in the home business industry during the past decade. Keep in mind, this is just my opinion, based off what I've seen, experienced and studied. By all means, we can agree to disagree.
# 1 Affiliate Marketing
Affiliate marketing is alive and well. Businesses are embracing it. Thousands of people make a full-time income with it. It's a GREAT business model for the affiliates and the business, a true win-win. The biggest trend I have seen with affiliate marketing is that nearly 95% of the affiliates do/make nothing, while a few affiliates do great. In any affiliate program, 5 percent of the affiliates generate at least 95% of the sales. The remaining 95% struggle to make a single sale.
# 2 Network Marketing
Network marketing is THRIVING. However, MOST network marketers join a company and quit in 90 days or less, sometimes within 48-hours. If you're building a team, you can expect at least 80% of the people who join your team to quit in less than 90-days. How crazy is that? People bounce from company to company looking for the Holy Grail, or something easy. When they fail, they set up a blog and call their former company a scam. Or, they're off chasing the next shiny object!
# 3 Blogging
From what I've read, there are more than 100 MILLION blogs online. Crazy! However, if you search online you will find MILLIONS and MILLIONS of abandoned blogs. Some statistics say that more than 90% of all blogs are abandoned. These are blogs that haven't been updated in at least 90-days. It means the blogger got started, but soon fizzled out and threw in the towel. They might have been excited the first few months, but once they found out there was work involved, they gave up.
# 4 Make Money Online
Shiny Objects are everywhere. Go on any search engine or social media site, or just check your email inbox, and you will see hundreds of ads promising you something for nothing, saying things such as: we build your team for you, push button profits, or something similar. These ads appeal to people's greed and laziness. That's why the ads are so effective. However, these "business models" also give the home business industry a black eye. In most cases, these are scams.
What's my biggest takeaway from the home business industry over the past decade? WE ARE A SOCIETY OF QUITTERS. As a society, we are very good at starting things, but very bad at following through.
In general, most people are also SHORT-TERM THINKERS. People are mentally weak and not cut out for the challenges that come with being an entrepreneur. They can't handle temporary failure, hardships and setbacks. In addition, most people do not have the discipline to work for themselves.
Many people join the home business industry out of DESPERATION or IGNORANCE. They can't find a job or they are really hard up for money. Yet, they join the home business industry expecting greener pastures. And when they fail, they call it a scam or pass the blame.
On the flip side of the coin, tens of thousands of people make a full-time income working online, probably even more than that. These folks have done what most folks are not willing to do. They got started, made mistakes, learned as they went along and stayed the course until they succeeded.
I believe the future of the home business industry is great, for the right person. This might even be the greatest time in the history of the world to HAVE your own home-business!
If you're going to do it, do it! You can't half ass it or wing it. Find something you love, something that makes sense to you, find a mentor and then make a minimum FIVE-YEAR commitment to one business model. That's about how long it will take you to really master something.
Food for thought! What are your thoughts? Leave a comment below and let me know what you think.
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