A Generational Snapshot

Group 1: Generation Y (born 1982 – 1995)

Characteristics: Techno-savvy & connected 24/7; Optimistic; Confident; Comfortably self-reliant; Entrepreneurial; Success Driven; Inclusive; Environmentally minded.

Group 2: Generation X (born 1961 – 1981)

Characteristics: Sceptical; Pragmatic; Adaptable; Self-Reliant; Informal; Technoliterate; Diversity minded; Focused on today.

Group 3: Baby Boomers (born 1943 – 1960)

Characteristics: Competitive; Optimistic; Driven to achieve goals; Focused on their children; Judgemental of differing opinions; Political.

Group 4: The Best Generation (born 1925 – 1941)

Characteristics: Non-conformist; Boemian; Cool; Questioning authority; Apolitical; Anti-intellectual.

Group 5: The Lost Generation (born 1880 – 1900)

Characteristics: Disillusioned; Reactive; Cynical about institutions; Realistic; Pragmatic; Risk taker; Critical.

*Source: A compilation by Deloitte Consulting LLP of commonly accepted traits and defining moments by generation

1. No Clear and Compelling Reasons – WHY

This is the very first mistake that usually newbie Internet Marketers make, that is without clear and compelling reasons why they start an Internet Business.

A “Compelling Why” is a term used for an emotionally-linked reason or motive that drives a person to do something in order to achieve something. Without a clear and compelling reasons, it’s very hard to have a burning desire and enough motivation to drive through all the hoops and obstacles that you’d encounter during your journey to Internet Success and Wealth.

Why having clear and compelling “WHYs” are so crucial? Basically, they could provide you the basic needs to survive, gain personal power and most importantly have fun in your business. So, before focusing on the ‘HOWs’ – ideas and strategies, ensure you list down all the reasons why you want to start an Internet Business. Please take note that the ”WHYs” have to be crystal clear and compelling.

2. Employee Mindset

Another common mistake newbies often make is adopting an employee mindset into a business. No doubt that Internet business is a fantastic business model that allows you to work from the comfort of your home in your own convenient time. However, thinking like an employee while trying to start an Internet Marketing Business will get you nowhere.

Start adopting a business owner mindset now and treat your Home Internet Business as a real business. The same thing applies to your website or blog, you have to treat it like real estate.

3. Instant Gratification

Many newbies started their Internet Business without spending enough time developing knowledge and basic skillsets needed for them to survive in the first year. Instead, they are too immersed in the Internet Marketing hype and spending too much time searching for easy and fast ways to make money online. This can be a costly mistake to make!

In reality, there is no such thing as overnight or instant success in Internet Business. Building an Internet business is like building a tower. You first have to lay a solid foundation before you can build your online business into tower of undeniable profits.

4. Lack of Self-Discipline

This is another major mistake made by newbie Internet Marketers: Not doing what you know you should do due to lack of self-discipline. I understand that sometimes Internet can be just addictive as gambling. Without a good level of self-discipline, most of the time you can end up wasting time doing other stuff that is not related to your business such as instant messaging, online games, Facebook and YouTube.

In business, time is about money. You have to cultivate self-discipline to help you to accomplish the tasks that you have set for that day. And you should be only allowed to use the time left over for your own leisure.

5. Give Up Too Easily

The biggest mistake ever made by Internet Marketing newbies is giving up too easily when they don’t see any results in just few weeks or months.

Always bear in mind that “Online Success Is A Journey, Not A Destination”. When Thomas Edison failed 999 times to invent the lamp, he was asked why was he not giving up, and his answer was, “I have discovered 999 incorrect ways to invent the lamp”. Basically, he knew that he would invent the lamp eventually, but he just needed to find out the correct way to do it. So, you should see this as an education process and opportunity to review your business and find out what need to be done to improve the results.

This is another well said quote by Vince Lombardi: “Winners never quit and quitters never win.”