11 Reasons Why Your Online Business Is Going To Fail Miserably
Is the Online Business easy money? A lot of people seem to think so, which might be why we see Online Business come and go faster than feathers in the wind. And sadly, while it takes a lot to succeed in business, it really takes very little effort to fail.
But you can turn the tables and give yourself a head start by NOT doing the following:
- Bringing nothing new. You see what someone else is doing and you copy it. FAIL. Unless you do it faster, better, cheaper, stronger, more effectively, etc. you won’t make a dent in the market. You’ve got to differentiate your business by either offering something new or something vastly improved.
- Not prioritizing. If you’re obsessed with trivial things like getting your latest article perfected – rather than focusing on the big things like making sales – you’re going to fail. Decide what’s most important to making your business a success (aka: getting new customers and taking care of your current customers) and spend your time and resources on those activities.
- Doing everything yourself. Sure, you’re lousy at building websites, but who wants to pay a pro, right? So you spend 4 weeks building a website that frankly looks like it was made by a junior high student doing just enough to get a barely passing “D” grade. Forget about it. Hire outsourcers to do the things you stink at, and focus your efforts on what you do well.
- Pleasing everybody. You’ve got a product that everybody needs and wants, and you’re going to sell billions of them, right? Probably not. First of all, how do you reach a market of “everybody?” Second, when you try to appeal to everyone, you generally wind up appealing to no one. By targeting your product or service to a specific group of people you vastly increase your odds of success.
- Not being obsessed. If you’re laid back, working now and then when you ‘feel’ like it, and wondering where the truck full of cash is hiding, then guess what: It’s not coming. You’ve got to put in long hours in the beginning of your business to make it succeed, and if don’t then you’ll never have a business – only a money-sucking hobby that annoys your spouse and wastes what time you do spend on it. *
- Changing course repeatedly. Hey, you were going to write great content about fishing and promote fishing related affiliate products, but you just bought this great course on how to sell backlinks, so you’re going to do that instead, except there’s this other course on how to make a killing servicing the Forex community… STOP! Choose your business model and then strap on a pair of blinders so thick you can’t tell if it’s daytime or nighttime.
Once you’ve got those blinders on, the ONLY things that get through are methods and tools that help you on your present course. Anything that could divert you off course is totally, completely irrelevant, and will be shunned and ignored to the full extent of your laser-focused Online Business abilities.
- Thinking the universe will do it for you. Yes, you’ve watched The Secret a dozen times and read all the latest books on manifesting your destiny. Now all you need to do is sit back and visualize your success 24/7, and it’ll happen because you’re just that kind of guy (or gal.) Get a grip. If it’s going to happen, it’s going to be because you MAKE it happen, not because the Universe owes you a debt of gratitude for you being, well, you.
- Being a cautious genius. You’ve got a good idea of what to do, but there are just a few more things you need to learn before you take that first real step because you’ve got to get it just right. After all, in school it was all the studying that got you good grades, right?
Well guess what, this isn’t school and studying won’t even get you out the door. Yes, you need to know what you’re doing, but no, you don’t need to write your doctorate before you take action. There are times when you need to throw caution to the wind. If you’re procrastinating, if you’re scared, if you’re “not quite ready,” then it’s time to stop preparing and start DOING.
- Clutching pennies so tightly they scream. You go with the $1 a month hosting because it saves you $9 a month. Then your website crashes the day of your first launch, and there’s no phone number or online chat to get a hold of anyone.
In fact, reading the fine print on your Online Business Webhosting site, you discover that they only accept correspondence via carrier pigeon, and then only on the third Tuesday of the month. Yes, you need to watch expenses. No, you do not need to cut corners so badly you ruin your own business.
There is an exception and it’s this: If you happen to have a lot of money sitting around gathering dust, you can hire people to perform most of your online marketing tasks for you. You’ll still need to determine the course of your business and guide it in the right direction, but what you spend in money can save you in time.
Then again, having a lot of money to throw at a new Online Business is often it’s own recipe for failure, so beware and be careful if you plan to employ this method.
- Screwing your customers. What’s important is making the sale, not making the customer happy, right? Wrong. Refunds, bad reviews, and disastrous customer service will ruin your business faster than termites will eat tree houses in the tropics. Take care of your customers, give them more than they expect, thank them and then ask what else you can do for them. Remember No customers = no business.
- Failing terrifies the stuffing out of you. Maybe you shouldn’t do ____ because you might fail. (You fill in the blank.) Guess what – failure is GOOD. Without failure, there is no success. The only person who has never failed is the person who has never attempted anything in their life. Do you want to be that person? No. Then expect that you will fail now and then, and when you do, you’re going to pick yourself right back up and keep going.
There you have it – 11 ways to fail in Online Business or succeed. The choice, my friends, is up to you.