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5 Mental Myths of Online Entrepreneurship

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5 Mental Myths of Online Entrepreneurship
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Read time: 5min

The journey of creating an online business is different for everyone wouldn’t you agree?

Some have a network of friends or business partners who help light the path and provide critical guidance along the way, while others forge out completely on their own without knowing what to expect in the least bit.

No matter the circumstance, they both still share a common thread found in every single online or offline business ever created.

They took action and kept taking it.

Many most likely even followed the “stop-start-stop-start” pattern so commonly found amongst anyone paving their own path of freedom, control, and financial independence.

If it was easy everyone would have already done it by now, right?

But the “secret” to their success is they kept going even in the face of uncertainty, self-doubt, and all the setbacks along the way.

Imagine what becomes possible in our lives when we “stop stopping”? Imagine the 7 year old boy whose Mom always made him practice the piano every day after school. Who even though he enjoyed it, gave it up because it wasn’t always convenient to practice.

What if he would’ve simply stopped stopping...where would he be today?

Taking Action Towards What You Want

While your goal may not be to become the next Beethoven, building your email list, creating your online community, and selling online courses works the exact same way.

When you’re clear on what you want and continue to take somewhat intelligent actions to get there...sooner or later you arrive. And typically it’s far faster than you ever thought possible.

So if it’s that simple, what keeps so many feeling frustrated, stuck, or never moving the needle in any significant matter?

Well, today we dive into 5 different mental myths which (when believed) will slow the progress of anyone wanting to succeed online.

While this might not be an exhaustive list, these are some of the most common ones we see again and again when working with digital entrepreneurs. Feel free to drop your own “myths” in the comments after the article.

Let’s dive in!

Myth #1: You Need More Information

Today there’s more information than ever before. In fact, it seems like you can’t go a single day without hearing someone mention how stressed they are because of “information overload” and how completely overwhelmed they feel.

Now for the record, we’re 100% supporters of all kinds of education and skill development.

But the myth of you needing more information before you can take action just isn’t the case.

You don’t need to memorize Facebook’s entire algorithm before running an ad. You don’t need to travel to India before you teach yoga. And you certainly don’t need to be the number #1 top expert in the world before you can create a massively successful online Knowledge Commerce business.

Far too often we see people launch businesses who comment “I should've done this sooner”.

The only reason they didn’t was due to paralysis by analysis. The thinking that more information or more thinking is what they needed is what kept them stuck.

If you want to be on the fast track to creating a thriving online Knowledge Commerce business, your goal shouldn’t be to hoard as much information as possible. Instead, you should see to use that information as soon as possible.

That’s the difference between information versus transformation.

From our experience working with thousands of different entrepreneurs, there’s a good chance you already know more than enough to be blazing your quick path to your dream business.

What’s one action you can take today to go from a consumer to a creator?

Take it and watch what begins to happen...

Myth #2: The Bigger The Better

What’s better…

1,000 or 100,000 subscribers on your email list?

$100,000 or $1,000,000 in gross revenue?

1 online course or 10 different online courses?

You see there’s a tendency to naturally believe that “bigger is better”. But not only is this just not true, it’s also a myth that ends up keeping people out of action.

They become intimidated by how far away they are right now.

But here’s the thing…

There are plenty of businesses with smaller email lists which generate more revenue (and more net profit) than another company who has triple the amount of subscribers. And there are plenty of examples of businesses making 6 and 7 figures with a SINGLE online course.

So bigger isn’t better. And many times...it isn’t even bigger.

The key is to start wherever you are instead of wasting time thinking where you could’ve been if you only started 6 months ago. Start now.

Do you have a simple landing page created? You don’t? That’s ok! Start there.

Inside Kajabi you can quickly create a beautifully designed opt-in page within a few minutes. Then simply write up one or two reasons why someone should give you their email and paste that (and the landing page link) on your personal Facebook.

Maybe you get a sign up. Maybe you don’t. That’s not the point.

The point is to show up, do the work, and take the process-driven actions you can control. The outcomes will inevitably follow.

So instead of thinking bigger...how can you think smaller?

What’s one simple step you could take today to move your business forward?

Block out 30 minutes and knock it out.

Remember: imperfect action always beats perfect inaction.

Myth #3: Business Has To Be Risky

Another mental myth we find that keeps digital entrepreneurs out of action is the belief that starting your online business has to be risky.

Years ago this was far truer than today. Think of it, not too long ago if you wanted to sell digital products or online courses you had to pay for everything from custom websites and pricey programmers, to a host of clunky software and plugins.

Today? You can run your entire business from an all-in-one platform like Kajabi.

And unlike other business models where you need large amounts of upfront capital or shelves stocked with inventory...infopreneurs may just have the least risky business of them all.

If you apply our previous principle of “starting small” then you’ll decrease your risk even more.

So what’s more risky...finally acting on that idea, launching it out into the world, investing a few dollars and a handful of long nights with the chance of success…

Or not doing anything and knowing that your dream business was completely within your grasp?

And with our 14-day free trial we make it as easy as possible for you to keep taking action without risking a single penny.

Myth #4: Start When You’re Ready

This is one where you have to make the call on what’s most important to you.

If having an online business teaching what you love, working from anywhere in the world, and taking back control of your time is *truly* important to you...then there’s never going to be a “right” time to get started.

There’s a great quote by Hugh Laurie that sums this up perfectly:

“It's a terrible thing, I think, in life to wait until you're ready. I have this feeling now that actually no one is ever ready to do anything. There is almost no such thing as ready. There is only now. And you may as well do it now. Generally speaking, now is as good a time as any.”

Whether you’re a Mom or a busy business woman…

Can you carve out 15-30 minutes today to take a single action towards your online business?

Even a single action can create the momentum you need to not only get started, but continue on to your first subscriber, your first product, and ultimately your first sale.

But if you’re waiting till you’re “ready”...that time may never come.

Myth #5: Smart People Don’t Fail

We all know the story of Edison’s “failure” story of inventing the lightbulb where he said:

“I have not failed. I’ve just found 10,000 ways that won’t work.”

While this is easy to read and recite, it’s a little more difficult to apply in the real world. It’s great in theory, but it takes guts to put yourself out there for the world to see, completely vulnerable and willing to fail.

And sometimes we tend to think that others somehow skipped the failure part. That somehow everything they touch turns to gold. But it just doesn’t work like that. No one escapes the possibility of failure.

As a Knowledge Commerce entrepreneur you may have a course that doesn’t sell, an email that goes unopened, or an entire niche that doesn’t respond.

The good news?

It means nothing about you! Your course failing does not mean you’re a failure. Your business idea not panning out doesn’t mean you’re the kind of person who doesn’t have great ideas.

You follow?

The absolute best players in the Major Leagues are worshipped by millions if they can hit .300 for an entire season. That means they get 3 hits from every 10 at bats!

Most of the entrepreneurs we work with (especially when they’re coachable) have a much higher success rate than this, and that’s on their very first online business!

So what do you have to lose? What if your dream business was just a few quick “strike outs” away? What if your first at bat was a home run? I mean it does happen.

But you don’t know unless you take the actions today.

Ready. Fire. Aim.

Overcoming The 5 Mental Myths

So like we said, this is in no way an exhaustive list of the mental myths or false belief that get in the way of online entrepreneurs being successful. But handling just these 5 will take you further faster than nearly anything else.

Here are the 5 myths again for quick reference:

Myth #1: You need more information.

Reality: You know enough already.

Myth #2: The bigger the better.

Reality: Small business create big money too.

Myth #3: Business has to be risky.

Reality: Knowledge Commerce is the least risky business there is.

Myth #4: Start when you’re ready.

Reality: There will never be a perfect time.

Myth #5: Smart people don’t fail.

Reality: Smart people fail faster and more often.

Unsure Of What The Next Best Action Is?

If you’re still in the “idea stage” and are unsure what you’d even teach online, we’ve recently put together a brand new, completely free, 3-part video training series which takes you from idea to your first mini course.

Click the link below to get immediate access to the first video:


If you already know what you’d like to teach and would rather jump right into the Kajabi platform and take it for a risk-free test drive, below you’ll find a link for your 14-day free trial…

Use Kajabi to Turn Your Knowledge And Content Into Products You Can Sell

We know that you have something to teach the world. We also know there are people out there who want to learn what you know.

That’s why we created Kajabi. It’s a full-featured platform that allows professionals like you to create their own businesses from home.

Create online courses, establish membership sites, and sell other digital products. We offer tons of marketing tools to help you spread the word about your products and earn more revenue.

Of course, launching a business represents a huge commitment. We understand that.

To help ease you into the process of creating a Knowledge Commerce business of your own, we offer a 14-day free trial.

Get unfettered access to our tools, templates, and other assets so you can fully explore what Kajabi has to offer.

Are you ready to become your own boss? Now’s the time.

Try Kajabi For Free

Grab Your 14-Day Free Trial Today

Get Instant Access Now!

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