2 Common Reasons for Failure With Your Online Business
Starting an online business is a bewitching, seductive thought for many would be entrepreneurs.
The dream of working from home with no boss to order you about, pattering in to your computer in your slippers to start your work day rather than a difficult commute through rush hour traffic is incredibly appealing to many.
However the vast majority of people who start their own online business are destined for failure.
This is the harsh reality which you can avoid if you avoid the most common reasons for this failure.
One of the key reasons for this failure is in fact one of the key attractions which attracts us to online or internet business in the first place-the low barrier to entry.
1. Low Barrier to Entry
The ease with which you can set up an online business is itself one of the reasons for the common experience of failure with an online business.
When you are starting an online business you can create a blog or website for free within half an hour. It is this very low barrier to entry which ensures a massive failure rate.
If you are starting up an off line business you will need to raise capital, draw up a business plan and any financier will compel you to think through your plan carefully be asking you searching questions.
So the low barrier to entry is itself a blessing and a curse.
The takeaway point is to firstly think through how you intend structuring your business and this applies equally whether it is online or off line.
Take your time, carry out your research and draw up a step by step plan which you need to execute fearlessly and without distraction.
2. Warrior Forum paralysis
The Warrior Forum is a forum set up and aimed at affiliate marketing, internet marketing and the owners of all sorts of online businesses.
It is the biggest such forum on the internet and as such is like a pot of honey for..
People who have bought the dream of running their own business from home and imagining their humble pc as some sort of cash machine.
However many people fail because they spend too much time on this forum and buy too many “get rich quick” reports and books in the special offer section of the forum.
There is plenty of good information on the Warrior forum.
But there is also an enormous amount of rubbish aimed at new internet marketers. If you want to fail quickly online then spend a lot of time on the Warrior forum and buy plenty of the rubbish special offers.
If you want to succeed, then limit the amount of time you spend on the forum very strictly and steer clear of the WSO section.
The takeaway here is you need to plough your own furrow, learn as you go and take what you read on the Warrior forum with a huge dollop of salt.
To build a real business online, a business with some substance, you really need to acquire some basic skills and use your commercial nous and critical faculties to plot the best online business for you and your strengths.
There are enormous opportunities in internet marketing but you really have to realise that there is plenty of work involved..just like an offline business.
Getting Started in Internet Marketing
The key skills you will need to start a successful online business include
- Understanding how the search engines work
- Learning how to build a website
- Learning how to carry out good keyword research
- Some commercial savvy-just as with an offline business this will be a requirement also if you are not to end up on the heap of online failures who bought the dream and a lot of other stuff but which ultimately came a cropper.
- Lastly, some people just need a little more business sense to succeed in their online business. Those who find themselves in this boat might want to consider a business course or even a bachelor of science in organizational leadership from an accredited school.
Filed under Online Marketing Ireland