subject: Why So Many Online Business Owners Fail and 3 Actions You Must Take to Guarantee Success [print this page] Why So Many Online Business Owners Fail and 3 Actions You Must Take to Guarantee Success
How Can You Create a Profitable Online Business?
Let's consider a few case studies to figure out what it takes to succeed online!
Perhaps you know online business owners who resemble these 3 characters in some way?
John is a complete and utter failure in everything he touches and his online business is no exception. He has invested good money in his business but he is close to quitting already after only a few months.
Ted, on the other hand, has the "Midas touch" and his computer is like an ATM to him that he takes everywhere on his travels, as he works his online business while enjoying total freedom, from the white sands of the Cayman islands to the classy hotels where he frequently stays in Florida with his wife.
Jane is 90% of the way there but is missing one key element that keeps her in the "poor house."
They are all online business owners, and to see their websites you would not know that their respective average incomes range from $150 per month to $22000 per month.
How can this be?
Surprising until you look a little deeper.
First of all, John has confused having an online business with a part-time J-O-B. He literally expects the cheques to roll in from the first month and, unlike success business people, is NOT working his "tail off" to ensure his business gets off to a fast start.
You have guessed it!
He has fallen for the get-rich-quick lie that the Internet is a machine that spits out money as soon as you have a website. No long-term commitment or strategy = failure for 98% of Internet marketers.
You see, John threw up his website and then sat back without adding fresh content, expecting a torrent of customers overnight.
Now Ted, on the other hand, is what some people call an "Internet rock star."
From day one, he has treated his Internet business like any other business that requires commitment and hard work.
Sure he knew that the Internet represented a unique opportunity since his business would be running 24/7.
HOWEVER - he recognized that to earn good or even great money he would have to work at it relentlessly, just as hard as any other traditional business.
You see, Ted knew that his online business would at first be invisible! Ted works tirelessly and on a daily basis employs a few highly effective marketing strategies to drive traffic to his site and build a list, choosing to focus on income-producing activities and develop a skill set that allows him to provide value - the cheques follow and grow over time but he also has a secret ingredient detailed below.
Now Jane has a beautiful website and is working hard to provide value and build a profitable online business. She has a long-term view and is developing skills in writing articles for her website, building up her social media lists, and studying a lot. She is working hard and is 90% of the way there.
Her income is far less than 90% of Ted's, however!
So what is missing?
Barely anyone knows her website exists because she is not employing the latest SEO (search engine optimization) strategies to help the search engines bring searchers to her site, she has no articles published outside her website, and she is not taking consistent, income-producing action (marketing) to establish an online presence.
So here are the 3 Steps You Must Take to Build a profitable online business:
1) "Work harder on yourself than you do on your business" (Jim Rohn) to give you the self-discipline to work consistently at your business and lead your prospects by example - you simply have to develop a money mindset and reset your 'financial thermostat' to think and act big.
2) Find a knowledgeable Internet success trainer who will kick-start your profitability with effective marketing strategies, help you avoid costly mistakes, and hold you accountable to take consistent action and be persistent.
3) Find the right business model and compensation plan for the new economy.
The business model and compensation plan are another reason why Ted is now averaging over $20000 per month. He has found a profitable online business with an industry-leading business model, that generously rewards its consultants for selling valuable, high-demand products in today's new economy.
