If most online entrepreneurs fail, why is then the online business booming right now?
Most online entrepreneurs fail with their business startup. According to some figures, about 90% of all startups fail.
This article will be divided into two parts. First, we will analyze the 5 most common reasons why online entrepreneurs fail. And in the second part, the exciting one, you will get useful tips on fixing the problem.
Surfing around on the web, you’ll find hundreds of different articles talking about the same thing. Typically, they have at least 10 different reasons to explain the startup failures. If you want, you can be detailed and probably extend the list to at least 100 different reasons why most online entrepreneurs fail.
None of these articles is wrong. However, here we are only going to take a look at the five most important reasons. Why are they the most important ones? Well, if you lack only one of them, you will fail…..for sure!
There is a very logical reason why online business startups are booming right now. The pandemic has pulled entire populations out of their comfort zone. People who last year had a “safe” job, just of a sudden it was gone.
Other groups feel a tremendous vulnerability and automatically start to search for alternatives. Whatever description you can relate to, it all boils down to an active search for a new opportunity.
Most Online Entrepreneurs Fail Because of Lacking the 5 Necessary Cornerstones
Passion and commitment
In many senses, doing business online is precisely the same as doing business the old traditional offline way.
It all starts with a burning interest in a product or service. In the old offline world, the interest became a passion before even starting—the reason why was mainly because of the vast investment involved.
To start a business back then required thousands and often millions of dollars before even open the door to the company. Such a substantial investment obliged to a belief in your project and a true commitment.
The “disadvantage” with an online business is that the startup cost normally is very low. Anyone can afford it. The consequences can be that the commitment isn’t in place, and you just pay the necessary small startup amount to try it out.
How to fix it:
Do not even think about starting a business without the passion and commitment in place.
Spend the necessary time on creating a solid vision and mission statement.
The words, Why and What will help you with the vision. It will answer the questions, what you would like to promote, and why you should do it. Do not neglect this part, as it will only backfire on your whole project if you don’t take it seriously.
Once the vision is in place, the mission will be answering the questions, when to do it (scheduling), and how to make it happen (action plan.)
The right mindset
Working as an entrepreneur is not an 8-5 job. Let’s be honest and once and for all, make clear that every startup project, online or offline, requires hours and hours of work.
One of the most common traps when people are trying out the online business opportunities available is the so-called get-rich-quick schemes. They promise loads of money with almost no work at all.
If you don’t have a solid vision and mission statement, it’s easy to fall into these traps. Therefore, it all must begin with a vision and a mission that automatically produce your passion and commitment. There are no shortcuts to a successful online business.
How to fix it:
Prepare yourself with long working days, at least in the beginning. Involve your family, as they will be your most challenging obstacle if not aware of what you are up to.
Make a working schedule. You cannot work around the clock forever. You’ll need some rest, and your family would like to share your life as well.
During the journey, you will fail several times. It’s normal and is a part of an entrepreneur’s life. To fail is OK, as long as you don’t repeat the same failure twice. Regularly check your vision and mission. Often you need to do tweak here and there to get it right.
Whatever your mission statement looks like, you need to sell or market your product or service at the end of the day. When just using the word “selling,” many people get scared and throw in the towel.
Many cannot even see themselves as a salesperson. Don’t worry! All the selling problems will be solved for you further down.
However, if you can’t get your message out in the market, no one will buy it, and worse, they will not even know about it.
The online market place follows the same pattern and rules as the traditional offline retail business, except that it’s all online.
All social media you can think of can continue to exist because of the trillions of dollars invested in advertisements by companies of all sizes to get their products out in the market.
Here comes the next “scary” thing to deal with: Should you use Facebook, Google, Instagram, Twitter, or something else? Or maybe all together.
The truth is that many fail with their business after spending a considerable amount of money on all those social media platforms without getting any result at all.
How to fix it:
Learn how all the social media platforms work. Every platform offers its customers sophisticated tools to investigate their market and target their products and service correctly.
Get in-depth training on how all these tools can be used efficiently. Always start out small. Test a lot, and when you find the correct mix producing leads and sale, just scale it.
The advantage of doing business on the Internet is that you have no geographical limits. The world is your potential market.
We said earlier that there are no shortcuts in doing business online. It’s true! But some tools can help you become a professional online marketer faster than what you ever thought was possible….
System and platform
Let’s assume that you have your vision, mission correctly identified in crystal clear statements. Your passion and commitment are rock solid. But you have struggled with your marketing. Maybe you have even bought some apps to get it right, but the only thing you can notice is that you are spending more money than expected.
“Is this really something for me?”
Can you see why most online entrepreneurs fail?
On top of all this, somebody told you that you need to have a website.
The world that looked so promising starts to fall apart. How do I know all this?
I have been there. All the failures and frustrations on top of that have been part of my journey. The idea of quitting became stronger after every new failure. Probably my strong passion and commitment to what I decided to do, kept me alive.
How to fix it:
Everything changed when I finally came across a system and a platform, ready-made to adapt my business. Millions of dollars being invested in a system to allow motivated and serious entrepreneurs to build their business.
Please, don’t try to do all this by yourself. It will cost you a fortune. It will take years to be ready. The advantage of using those systems and platforms allows you to focus on your business and not on the technical stuff.
There are various platforms you can choose among. If you go for the one I’m connected to, you will enter a world with absolutely all the tools you’ll need for your online business.
You will not only get access to platforms to rapidly and safely build your business from a technical perspective. But you will also get extensive training and coaching. It’s always updated to follow the latest trends in marketing and technical set-up.
Earlier, we talked about selling syndrome. No one wants to sell. A fantastic way of starting to generate an income is to connect to the system’s affiliate program. You just do the marketing and bring in leads, and the sales other people will do for you. This is a true All-In Package.
It can’t be easier!
Besides the affiliate marketing platform with its complete system, you will only need an autoresponder to handle all your leads for you. With the autoresponder I use, I can send out thousands of emails every day.
Back up team and unique community
So far, so good, but there is not a single system that is problem proof. I mean, when building your business, you will be facing different types of problems. To be on the safe side, you need a good support unit to help you out with any issue.
Sometimes you can hear about people who desperately search for help and do not get any response. Often it is people who signed up for something without any previous investigation.
In most parts of the world, rules and regulations are of such nature that companies not compliant with the rules in place will be banned and closed down.
How to fix it:
Before signing up for any system, make your investigation first. Just google the name, and you will get a good idea where they are standing. Further, each company of this type should have a communication line opened, where you can ask any question.
During the years, I have been connected to the system and platform I’m using; all my struggles and problems have been solved in a professional and fast way.
Last but not least, when a successful system continually growing, it attracts thousands of like-minded entrepreneurs. The community of online entrepreneurs is a unique source you can connect to and interact with. This community is priceless for the success of your business.
The Missing System Making that Most Online Entrepreneurs Fail
To summarize the path toward an online business that not will fall into the statistics of the 90% that fail, it can be a short but yet powerful statement:
Go for an all-in package, where you get access to absolutely everything you’ll need to successfully build your online business.
Click the banner below and start your online entrepreneur journey today!
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Jan O. Nilsson –5 Reasons Why Most Online Entrepreneurs Fail – and How to Fix It. <==Go to the top of page