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Why is it that 90% (or whatever figure you've seen most recently) of people who start an online business fail..?

Here are some reasons why and 5 steps to increase your chances of beating the odds.

One of the reasons for the high failure rate is unrealistic expectations.

The newcomer doing their research in preparation for starting their online business is swamped by emails,
websites and 101 other channels telling them they can earn $X,000 in their first month, first week - or by this time tomorrow.

I can count on less than the fingers of one hand the number of websites, emails or so-called training programs that tell you it will take time, it will take work, and it will take money to get going.

The reality is that it needs persistence, application, patience, and work. But these aren't mentioned for obvious reasons: it's not good sales talk.

Yet this results in hundreds of people launching into their new business with totally the wrong expectations. And because they have the wrong expectations they make the wrong plans, the wrong budgets and, ultimately, the wrong decisions.

The first real business program that I became involved with made this error, as a result of which I nearly walked away from it. Fortunately for me I didn't, because it's now turning around for me and starting to bring me some reasonable income.

But how many others have been through the same disillusionment with their program and walked..? Thousands would be my bet.

For some reason people who are not already successfully in business on the internet seem to treat the idea of setting up a business online differently than they would if it was off-line. They don't take it so seriously.

So here are 8 things you must do to avoid disappointment and start on your road to Internet Marketing success:

1. Recognize that this is a complex business in a very fast moving environment - and give yourself the time to learn about it properly
2. Accept that, unless you're very lucky or hand-held by a successful guru, you won't make a profit for months (possibly years) - and make sure that you have other sources of income to keep you going in the meantime. (Don't give up the day job until you can afford to)
3. Create your 'Why'. Understand the reason you want to get into Internet Marketing, write it down and remind yourself of it many times a day when the going gets tough (as it will).
4. Make a proper business plan - as you would for an off-line business
5. Stay focused. Pick the type of business you're going to set up and don't be distracted by the countless offers of riches tomorrow. Only buy products/eBooks/eCourses or whatever, that will directly move you closer to success in your chosen business type.
6. Accept that every failure is a lesson learned - and be sure to learn from it.
7. Watch how successful people do it and learn from them. But stay true to yourself. Don't copy something if your gut feel makes you feel uneasy about it.
8. Find your 'heroes' and learn from them.

Good luck!

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For more details on this article and others like it check out Martin Malden's blog.