What is The Failure Rate Of Online Businesses? You Will Be Shocked!
Want to know something scary?
Good, we are off to a great start!
According to several sources I have been studying recently, 90% of internet business startups FAIL WITHIN THE FIRST 120 DAYS!!
Can you believe that? Some people jump into an internet business, confident and certain that they will be making millions by the end of the month, and then their business crashes without having even taken off.
It’s a sad reality. But the good news? I’m in the 10% percent. And I have a few tips that can help you to be in the 10% also.
It actually is not difficult to stay afloat (and thrive), when you have the right tools for success, and know what you are doing.
I will give you some solid information in this article on how you can create, build, and maintain a successful website.
So, let’s get down to it!
Why Do So Many Fail?!
We will save the real meat and potatoes of this answer until the end. And you won’t believe what it is.
But, here are some other, very avoidable, reasons why start-up internet businesses fail:
Having absolutely no end-goal in mind.
This seems so easy, but in reality, it can be so exciting when beginning a business, that this goal thing is completely forgotten.
When you are able to spend time writing about what you are passionate about, AND make money while doing it…you can forget that there needs to be a vision in place.
Why is this important?
Because there are hard days. There are days without reward. There are days that it would be easier to give up than keep going.
You HAVE TO HAVE a vision of where you would like to be in 6 months, 1 year, 10 years…so on and so forth.
To be honest, I avoid making this mistake by using a planner to make a few goals for myself daily. That way I don’t lose sight of what the vision is.
Is this too much? No. Not for a Mama of two who has the attention span of a gnat. And I’m speaking of me, not my kids, haha. I have to make sure that I keep my eye on the prize.
After you have spent some time thinking about what your goals should be for the foreseeable future, make sure that you WRITE THEM DOWN. Keep them right in front of your face as you are writing, developing content, and burning the midnight oil.
2. No known motivation
There is a “why” for everyone. If you have a 9-5 job at the moment, then you have a “why” you get up in the morning, drag yourself to work, and jump into the daily grind.
When you start an internet marketing business, you need to have a clear picture in your mind of why you are doing this. Why you are putting in all the work, hours, and devotion.
Again, when it gets difficult and discouraging, you need to know that there is a good reason that you are persevering. Otherwise, it’s all too easy to throw in the towel.
3. Unrealistic expectations
This is a big one. you need to know from the beginning, that running a successful online business takes time and effort.
I was joking with my colleagues recently, that I just KNOW my friends and family think that I sit around taking pictures of myself with a full face of makeup, drinking artisan coffee, and writing a few paragraphs from the comfort of my bed.
Well, part of that is true. As your own boss, you do have the authority to write wherever you want. And coffee never hurts.
But, you have to know that it is still completely necessary to “show up” for work. You’ve gotta have some self-discipline, ya’ll!
There are times that you might be up well after your family has gone to sleep, researching and writing.
Even the owners of my website hosting platform work tirelessly. Granted, you won’t have to put in quite as much effort after you have created a decent following and have acquired the amount of passive income that you are comfortable with. But you’ll still need to treat your business as..well..a business.
4. Throwing in the towel
How sad is it to realize that many, many people quit right before they hit success?
This happens all too much. Lots of businesses fail simply because the business owner doesn’t think that they will achieve success after a few months of no earnings, and they stop one week, one day even, short of a complete turn around.
Once you have started your website, you’ve got to keep pushing.
Honestly, my website didn’t earn a thing until 3 months in, and for some sit is much longer than that.
But this isn’s a get-rich-quick scheme, and it does’t work like one, either.
Remember that good things DO in fact, take a little time. But I’m here to tell you…it’s worth the pay out.
5. Thinking you can do it on your own
I would never, ever tell you to copy the products of someone else’s efforts. That’s a no-no and will make you a lot of enemies in the online business world.
However, I WILL tell you that you should imitate the business strategies of people who are successful.
Within my website hosting community, we all share information, we all ask and answer questions, and we all fail and pick each other back up.
It’s inevitable. You will need a little guidance.
Don’t be afraid to read, research, and learn!
Ask questions. If you need help to get started, follow this link.
Even the most successful online entrepreneurs started somewhere. And they aren’t too proud to learn from one another.
6. Don’t have the proper tools
When you begin your website, you will see that the process can be slightly overwhelming. In fact overwhelming is too mild a word, haha. But that’s the best I’ve got.
Without the proper tools for SEO, PPC training, an easy and accessible writing platform, and training to help you through different obstacles you will face, it’s easy to want to quit.
You need to have a keyword research tool to be able to rank well in search engines like Google and Bing, and you need to have some idea of how to write content that is engaging and readable.
It is also necessary to have systems in place that will allow you to view your analytics, so that you are able to see what kind of traffic you are getting, where it’s coming from, and where your profits are coming from as well.
All very important tools to have in your tool belt, so that every little bump in the road doesn’t potentially lead to failure.
While I do suggest looking to those who are successful for business strategies, comparing yourself to anyone is not going to help at all.
The only person you should be comparing to is yourself, yesterday. Hopefully you are better, smarter, and stronger today!
One of my websites is in the Beauty and SkinCare niche. Talk about comparison. I have to be very careful not to compare my material and my visuals with every other person who is competing for my traffic.
There are a ton of beautiful ladies out there who are in the same niche, and all I can say is, I keep my eyes on my own paper!!
We are all in different phases and seasons of our entrepreneur journey, so there is no reason to compare your beginning with someone else’s middle.
So, What Does This Mean For Your Business?
Ready for the best news ever?!
This is the secret I have been keeping for the end of this article.
The only thing that separates you from unbelievable success is E-F-F-O-R-T.
I know it sounds too simple, but it is absolutely TRUE!!
One of the best things about the online business world, is that your amount of effort is directly relevant to your level of success.
EFFORT = SUCCESS.
Which means, the only thing that can keep you in the 10% of success is a HUGE amount of effort.
If you give up, you’ll fail. If you aren’t consistent, you’ll fail. If you lose track of why you are working so hard, you’ll likely fail.
But if you work hard, research, network, and put in the effort that it takes to sustain an online business, you will rise above the rest.
If you are looking for a place to get started, you can FOLLOW THIS LINK to learn how to create a website and start your business for free!
The above link will explain a little about the platform that I began with, and am still a part of now.
You can sign up and begin working on your website for free, and you will get tons of support and training. Not to mention a community of people who desire to see you succeed.
You will also have access to an amazing keyword research tool.
Head on over and check it out if you haven’t already (p.s. you don’t need any experience to start an online business with this platform. I’m a mom from the Midwest who could barely send an email before I got started.)
So! The bottom line is, get the right mindset, start developing your vision, and get started!! There is nothing to lose (you won’t be investing any money to get started).
If you need a little more motivation, or if you have experienced a few failures online….
- Walt Disney was told that he had no good ideas. Yes, the Walt Disney responsible for the songs that you can’t get out of your head because of the movies your child watches over and over….Thanks, Walt haha.
- Einstein was thought to be incapable of achieving anything as a child because he repeatedly skipped school and performed terribly. Nevermind the fact that he died a physics genius and recipient of the Nobel Peace Prize.
- Elvis Presley was fired from The Grand Ole Opry after his very first performance there. No explanation needed, I suppose, about how wrong they were!
The common thread? EFFORT. Enough said!
Do you have a failure-turned-success story? Share it in the comments below!!
If you have any questions about making money from home, or about resources to get there, please email me at firstname.lastname@example.org
Cheers to your online success!