Why Many Online Businesses Fail And Why You Should Keep Trying

By | June 3, 2015

Want To Know Why ?


why online businesses fail

 

The question of why many online businesses fail isn’t as new as every new inventions out there these days but the fact still remain that it is true.

And the suggestions to why you should keep trying despite all odds means that there is surely a light at the end of the tunnel after all.

The question of why; is really helping to invoke the emotion of what went wrong in the first place and how to fix it.

Because if such question wasn’t asked, then the answer will be unavailable and so will be the solutions and any attempt to bring these two together without asking the very first question of why, will be very far-fetched.

Without wasting much of your precious time lets take a look at why many online businesses fail at the very early stage.

 

Inadequate research


proper research

Yes I am sure you are familiar with the idea of doing a thorough due research before venturing into something new right?

Well I will be glad to tell you that some people do not and have no idea they needed one in the first place.

What baffles me most is that simply because someone out there is making lots of money online does not automatically mean that you are going to make lots of money too.

Some people really want to cross the river with their legs but do not want to get wet in the process.

Just wondering how that is going to work out though …..

 

Lack of passion for what you going into


why you should keep trying

Yes I know that there is a saying that goes “you have to be passionate about something for you to succeed in it”.

But you really don’t have to if you are not passionate about what you doing.

Sound surprised? Let me explain..

Ok lets say you have a website where you review few gardening items like the lots of items from Amazon.

After a few weeks you discovered that people are also asking about other camping and out door gears on your site while they are browsing and reading your reviews about gardening items.

Now would you ignore the new opportunity to review an out door gear and camping gear items simply because you are not passionate about all things out doors and camping?

No you wouldn’t leave money on the table would you?

The sensible business thing to do is to follow the money isn’t it? Well I will leave the answer to your esteem self to answer.

 

Bad segmentations


bad segmentations

Some of us small business owners jump into online business with a very broad niche market and even with a well targeted audience but most times the segmentations are very poor.

As a result we face very high and stiff competition and zero narrowed niche target and very bad segmentation of market audience.

Imagine a headless chicken running all about the place.

 

Very bad Offers


bad offers

Most online businesses literally kill their business with very bad offers even before it gets off the ground.

When dealing with a potential new client, they tend to sell you everything at once.

Example are up sells, down sells and side sells and what ever sell you can think of without first testing to find out what value the customer has and how to properly manage such value to further gain their trust for future sales.

 

Zero customer value management strategy in place


customer value

Well I am sure this explains its self already but the sure fire way to kill your online business before it even get started is to not have a proper plan or strategy in place on how to cultivate and manage your clients values.

For example:

You may like to ask some important questions like –

  • Who are your customers?
  • What do they want?
  • Why are they interested in your service or products?
  • What keeps them coming back?
  • What are the level of their engagement with your offers?
  • How do you communicate with them?
  • What values can you find from the level of activities in your customers behaviours?
  • And so on….

Business foundation built on a quick sand


business foundation

Some online businesses are built on a quick sand hence lack of solid foundation to grow and make money.

Why?

Seriously surprised you asked !

Because the owners are more than eager to make money faster and then becomes oblivion of the fact that their online business should be build on solid foundation for a long term success.

You will be surprised that some online business enthusiasts do not even have a website or know how to build a website in the first place.

Now raise up your hands if you have made such mistakes before?

Any one?

Well I did when I first started but after a good lesson learned, I got myself a proper training here and learned how to do things the right way.

 

Why you should keep trying


why you should keep trying

Well simply because there are truck loads of money to be made online is enough reason to keep trying.

Also the heavy competition out there means that there are still opportunities for anyone to grow financially in that market.

If you are thinking of taking your offline business to online business, it will be the wisest move you will ever made this year if you have not done so already.

Take for example what these companies are doing:

  • Google the volume of businesses transaction that are conducted online as at this moment.
  • Think of what PayPal is doing and how they are making their money.
  • Look at how far Amazon has gone and then try to project where they might be in few years time.
  • What about Alibaba online?
  • Did you notice how much Alibaba’s stock made when they went public with their first issue recently for the first time?
  • Should I go on?

If online business is not good, then all the above mentioned businesses will be out of business by now don’t you think?

They all started some where at the grass  root and you too can find yours or look for a trusted place you can learn how to at least set up a decent website for your long term success online.

To your online business success !

Thanks for your time and if you have anymore reasons why online businesses fail at early stage or you have any more question for me at all, please do share on the comment box below. I will get back to you immediately. I always do.

Also if this post helped you gain something good today would you mind sharing the heck out of it for me on your social media network would you ?

-RichardU

16 thoughts on “Why Many Online Businesses Fail And Why You Should Keep Trying

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