5 Reasons 90% Of Online Businesses Fail And How To Avoid Them

There are more and more people turning to the internet to make a living rather than put up with the daily grind of the traditional 9-5 job.  They have heard of people who have become millionaires, by quitting their jobs, using their laptops, and working  from the comfort of their own home.

However, many people quit their jobs and jump right in.  They think that all they need is a website and a domain name, that could not be further from the truth.

I read the other day that 90% of people who start up online businesses fail within the first 4 months.  While this may sound alarming when we start to look at the reason for the failures, it’s not really surprising.

1. They Fail to Plan

You wouldn’t go out and rent some premises for a business, with no plan and hope you would just pick it up along the way.  The internet is no different.

You need a plan, you need an online education and you need a goal.

What kind of online business do you want?

Make sure it is something that interests you or you’ll become bored and give up.

Get yourself an online education programme

You will need tools, skills, training and teaching. Learn from people who have already done it and have credibility.  A programme with one to one coaching is the best way.  A programme with an online community can be a great help so you are not trying to go it alone.

Set Yourself a Goal

Know what it is you want to achieve, why you are doing it.  Whether that is for money, time, to travel the world, to retire early, whatever it is, be clear.  Set yourself goals along the way and give yourself realistic timescales.

2. They are not disciplined

Successful online marketers are self disciplined.  There is no boss to tell you what to do, you are the boss and if your lie in your bed till lunchtime, the work will still need to be done.  If you believe that you can work an hour a day sitting on a beach, you will fail.  It takes a lot of hard work and a lot of time to build a successful online business.  Yes you will see the successful internet marketers who work a few hours a week, but that is only when their business has grown and is successful. That takes time and effort.

3. They get stuck in learning mode

There is so much information about every online topic that people get stuck reading and learning things without taking action.  You will learn by mistakes, but you have to take action to move on.  the successful online marketers have made every mistake in the book but they have learned from it and if you follow them, you will avoid some of these mistakes.

4. They compare themselves to others

Social media is a great medium however, when you are constantly seeing posts of others success and income claims it can be very demotivating when you’ve not yet reached success.  Comparing yourself to others is counterproductive, because you don’t know their background, budget, and experience, or how long have they being going.  There are so many variables. And remember when income claims are made it is usually the amount of money earned,  however, they don’t mention what they spent in advertising and other costs to get that income.  The best way to deal with it is to disable all notifications and check your social media sites at a particular time each day.

5. They become overwhelmed

They don’t prioritise and become overwhelmed.  Learn what you need for a particular task.  Make a daily plan of what needs doing and stick to it.  Likely you will have a to-do-list that is never ending but it is important to be able to pick 3 things that have to be done on a daily basis. Don’t allow yourself to get side-tracked stay focused , stick to what needs done in order to grow your business. If you find that difficult, ask yourself the question “If I can only do 3 things today to grow my business what would they be?

Running an online  business can be a lot of fun, yes it’s hard work and takes time, but if you follow the steps above, there is no reason why you should not be one of the 10% of successeful internet marketers.

To find out about the online marketing education  which has enabled me to set up and grow my  business click on the banner below and get a FREE 30 day trial:

 
 
 

Leave A Response

* Denotes Required Field