By Devin Dozier

Starting an online business can be an exciting adventure. It can create wealth, financial security, and give you loads of time to spend with your family. I mean, who would not want to earn an extra $500-$2,000 a month with their own online business?

However, before you jump into a business online, you must avoid three common mistakes where most people fall victim.

#1: Unrealistic Expectations - With so many websites claiming you can make thousands of dollars overnight, it is very easy to believe the hype. It is not impossible with the programs these websites are promoting. Most people on average do not make it as quickly as they claim. I am sure that a few have made thousands in just days, but realistically that is not the norm. No matter what you hear anyone say, "Making money online takes work!"

This business is just like any other. You must put in the time, money, and effort to make it profitable. Some online businesses require less work than others do, but all take work. If it were possible to throw a website up and make millions, then everyone would do it.

The speed at which you will start making money from your online business depends on how much time and money you have to invest. If you have no money, then you are going to have to roll up your sleeves and put in some work. If you did have some money to start with, it may take longer, but you will get to your destination eventually.

#2: No Goals - Having short-term and long-term goals for your online business is critical. Your goals mark your path and help you stay on track. Sadly, 97% of the people who start an online business are stuck on the hype of making millions tomorrow, and they do not have time to set realistic goals. While the other 3% of people, who did set goals, are making a large profit.

Goals will keep you moving forward, even when times get rough, and times do sometimes get rough. Establish a three, six, and 12-month goal right from the beginning. This way you will know where you are in relation to where you want to be.

Without goals, you are like a little angler's boat floating in a HUGE ocean. When the waters start roaring, you are destined to sink.

#3: Not Seeking Support - You are not alone. There are millions of other people, just like you, trying to make money online. In addition, the saying "Two heads are better than one" is very true.

All successful professionals have a support network. Whether it is a coach, colleague, partner, or friend they have someone who can help them generate ideas. I have a close network of online entrepreneur that I rely on to keep me informed on new techniques.

If you do not have support, you will lose your edge and eventually become obsolete. You do not need to hire an online coach, but you should seek out free online support groups who can assist you when you have a question or need advice. There are free support groups all over the net that you can easily tap. I have a great online money making group that is forming right now. It is called Loot Swoop and this will be a great opportunity for you to learn and contribute. It is free to join. Just go to it and sign in.

Having support will help you to keep focused and realize that others are trying to make it too.

If you can avoid these three mistakes, then you will be well on your way to making money with your online business. Always remember that whatever trials may come, persistence is the key to success!

Devin Dozier is an online entrepreneur. www.lootswoop.com is an online resource for motivated people looking for an online money making opportunity.

http://lootswoop.com