How to Avoid Failure in Your Online Business
Written on the 11 August 2016 by Charles AllenDid you know that over 90% of internet businesses fail within the first 4-6 months? That's quite an alarming number don't you think? Have you ever wondered why online failure is so prominent? Let's take a closer look and help you avoid falling into the 'mass failure' online. Below are a few key reasons why online business' fail.
You don't necessarily need a business degree to run a successful online business, but it sure wouldn't hurt. Here's what I mean. If you can't balance a checkbook then you probably shouldn't own an online buisness. Without some business education or some type of experience in business, the chances of succeeding go way down. After all, an online business is just that 'A BUSINESS'. Make sure you treat it like one.
2 - Have a solid business plan in place before your launch your online business.
As a business professional, make sure you have a plan. It doesn't necessarily have to be a perfect plan, most aren't. But a plan nonetheless. This business plan can always be tweaked, changed and modified, but it gives you direction. This business plan should guide you from getting from point A to point B with realistic cost estimates along the way. The 'ole saying, "If you fail to plan, you plan to fail" holds true in any business, especially your online internet business.
3 - Expect the unexpected.
When you have an online business, always expect the unexpected. After all, if your site crashes and you go offline for a few days or weeks, are you prepared for that? Most aren't. There will always be things beyond your control that affect your business. You are dealing with a high tech computer world where computers will break, servers will crash, sites will go down. When this happens, make the most of it.
For example, my domain server crashed recently and was offline for 8 days. How did I respond? Well once you realize its out of your control, then make the most of it. How? How about concentrate on writing an article a day and have it ready to post to your site whenver your server is back online. If you have a long term mindset you will be prepared for the unexpected.
4 - Test, test and more testing.
In your online business, the key to successfully investing your time, effort and money is being efficient. What works for your business will not necessarily work for your uplines business. How do you determine what works and what doesn't? It requires testing and trial and error. Most successful internet marketers have done numerous 'split testing' tasks and have determined what works best for them. However, testing is always ongoing and never ceases.
5 - Don't Give Up.
If you have a solid business plan, expect the unexpected, learn from others and continue testing with a long term approach then you are almost there. However, there is one final ingredient. Don't give up, don't ever give up. You will face obstacles and challenges. You may even miscalculate the cost estimates and feel like you are losing your shirt. But, keep working. Simply adjust your strategy and keep moving forward. Eventually, you will operate in profit mode. When that happens you will never look back.
Chris Doe Ford - let's face it, most internet marketers fail. Why? Several reasons. Do you want to succeed online? Really? For more information on this topic please visit my homepage at http://rchrisford.com