10 Tips to Avoid ‘Bandwagon Business’. by Gary Durkin

10 Tips to Avoid ‘Bandwagon Business’.

By Gary Durkin
© 2005

Firstly, we have to define exactly what ‘Bandwagon Business’ means.
If you are familiar with my various articles, you will know that I often use common phrases or sayings in support of my argument / points.

This is no exception!

Here, the phrase is ‘jump on the bandwagon’ - meaning to get involved with the latest venture / fad / craze / in order to make money, achieve an element of success or just simply to appear ‘cool’.

In the business sense, I am relating to the frequently changing developments, niche opportunities, schemes, incredible new ventures………….

What is clearly apparent, in particular in the online world - or the internet as we all know it, is the vast numbers of people who seem to jump from one bandwagon to another, with intense frequency, that you may be left thinking they have surgically attached springs to their feet.

Unless you are VERY lucky indeed, this process will not work for you.
Here are my Top Ten Tips to Spot / Avoid this problem of epidemic levels…….

1. Decide on your identity.
In the very simplest of senses, there are two main categories of people online looking to make money. Those who are plain and simple ‘opportunity seekers’ - looking to make money from some ‘get rich quick’ scheme’….. Doublers, Triplers, Gifting Programs, Money Matrixes…..

Then, there are those who are seeking to create their own online business. A real business.

If you are the former (opportunity seeker) - be warned. Most of these schemes FAIL…… period…. End of Story. FACT.

If you are really looking to create an online business - this is vastly different. It may take a great deal more time, energy, work, involvement, commitment, focus… and perhaps even investment - but it’s a business - a real business - not an empty pot of false promises.

So, decide which one you want to be - and stick with it.

2. Don’t undervalue yourself.
It is often said, that they key to your success, lies inside you. You may not know it, or have realised it….. but it’s there. Everyone has weaknesses - so focus on your strengths in the main, and quietly develop areas in which you are a little less strong…… and gradually turn them into more positives.

3. What are your expectations?
Define clearly to yourself, exactly what it is that you want from your online activities, and what you expect to achieve. Be realistic. Although the internet is FULL of claims of people can make a fortune ‘overnight’ - it simply isn’t so. If you have never made money online, set a target to reach just $500 to start with.

Once this is achieved and sustained, increase your target to $1000 - then later $2000 per month….. then afterwards raise your target to $4000 per month….. and so on…… Start small….. work from there, and gradually increase your expectations only when you have achieved your first targets. You WILL find this works far more effectively than expecting to make $250,000 a year online within a week. Most people soon realise that they won’t be millionaires in a few weeks with their ‘program’ - so off they go looking for the next one.

4. Believe in it.
Have faith in your business, your product or your service. Sell yourself, sell the idea or concept first - if you truly believe in it, the persuasive powers of this will provide you with 90% of your success. If you don’t honestly have faith in your business or product - before you know it, you will looking for the next bandwagon to jump on.

5. Is your résumé / CV 56 pages long?
In the offline ‘real world’, just how often do you change job? Every month? I doubt it! But online, people change their direction or business with more frequency than an 8 week old baby goes through diapers. If you were an employer interviewing a candidate for a position are your company - and they presented you with their résumé or CV showing they had already had dozens of positions in a short period of time, what would that tell you?

That they are very experienced?… I don’t think so.

6. Fairytale? Storyland?
Treat your online business like real business….in fact, it IS a real business, or at least that is how you should consider it. Work at it like a Hans Christian Anderson story, and there won’t be any ’Happily Ever After’. One of the BIGGEST reasons why people jump from one opportunity / business to another, is simply because they don’t treat it seriously. If you consider it to be a little fun - fair enough, but don’t expect much in return.

7. Blurred vision?
In other words….. FOCUS. If you don’t concentrate, or you become easily distracted, this will detract from your success, and will prove very costly. Don’t underestimate this. This is one of the biggest reasons for ‘bandwagon business’ - people become easily led away from what they are doing - with the lure of ‘greener pastures’.

8. Get committed.
…and stay that way. The initial levels of enthusiasm are normally quite high, but then gradually taper away over time. Interest wanes, activity drops off, before you know it, you are spending less and less time on your business. That’s when the next ’easy option’ seems tempting. You can develop a vicious circle of doing this repeatedly online - back to the bandwagon jumping routine. Stick with it. Commit to it.

9. Do the Stock Market.
No - not literally. But you must INVEST - that is paramount. But before you grab your Credit Card and send it into meltdown mode - this isn’t necessarily all about money. The biggest and most vital investment to make, is your time, your energy, your enthusiasm - and you must regularly invest - keep topping it up, just like a Pension Plan or your Retirement Fund. You gotta keep adding to it. Although money will come into the equation, because you simply can’t do everything for free - just don’t splash the cash at every opportunity you see, without trying to turn each ’spend’ into a positive R.O.I. (Return On Investment).

10. Baahhh…..baaahhhhh….
Sheep follow sheep….follow sheep. This is another classic reason for ‘bungee business’ - or bouncing around from one to the next. You see that all the other sheep are going in one direction - so you follow. If ‘everyone’ is doing something, must you? It’s not necessarily the best answer to go with the flow, or follow the crowd. Consider being contrary, contrasting, doing it with a twist - be different. You might just get the edge over all the other sheep.

10 Tips to Avoid ‘Bandwagon Business’

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