3 Reasons Why Online Businesses Fail

If you are thinking about starting a business from home because you read an article

online about how you will make millions of dollars through online marketing, think again. Recent statistics show that over 95% of new online businesses fail. Here is why:

#1. No Plan: The cornerstone of any successful online business is having the right plan of action. Whether you develop this plan on your own by reading books and articles on the topic or talking to people who have already done it successfully, you need the benefit of knowing how you are going to get from point A to point B. It is amazing to me how many people decide to go into the online marketing business without any indication of what to do or how to do it and still expect to be making six figures within the first 30 days. It is like attempting to drive cross country without a map. Within a very short period of time you will be lost, frustrated and ready to quit. When I started my online business, I took the advice of several very successful business owners - Find a plan that has a proven and successful track record and stick to it. I was fortunate (or lucky) to have learned about a program that gave me a 30 day "blueprint" for success. I didn't have to create the plan or decide what to do next. This program laid it all out for me and all I had to do was follow it step-by-step. That is exactly what I did and today I have a business that is thriving.

#2. No Effort: Many of the online marketing ads pitch you on the idea of starting a business that will produce six figure income immediately with very little or no effort. This is simply not true and you should avoid anyone or anything telling you otherwise. Starting a business takes work, and depending on how much you want to grow you business, can take a significant amount of work. In addition, you have to be willing to take action on many things that simply do not produce any results. This can be very frustrating for someone who is looking for instant gratification. As with any new business venture, massive action and perseverance are essential ingredients to success. In addition, getting an online marketing business is about trial and error (testing) to see what works. In the marketing business, failure is just as important as success. All of this requires a commitment on your part to putting in effort on your plan every day, day in and day out. It can be only an hour a day, but it has to be something. If you think that you can be successful without daily effort, forget about it. You have to block out time every single day and follow the plan that you have laid out. Consistent and continuous effort applied against a proven plan will make your business a success.

#3. No Money: A very popular myth of starting your own online business is that you don't need to spend any money. If this were the case then everyone with a computer and an internet connection would start an online business and be earning six figures. New business ventures require capital, whether it is starting a car wash, restaurant, or online business. You are going to have to invest money because you will need to purchase the tools necessary to do business. This would include things like creating a website, setting up a blog, using the services of an auto responder for your email messages, buying email lists, etc. The list of things that you can spend money on to build your business is endless. The point here is that you need to spend money to make money. How much you spend is up to you and what you are willing to risk. But one thing is for sure, if you do not invest money in your business, your business will fail.

Make sure that you are the 5% that make your online business a success by having a plan, taking action on that plan, and investing money to purchase the best tools and advice possible. If you do this, your chances of success will be dramatically improved.

by: Mike Christie

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