Why 95% of Online BusinessesFail and How You Can Succeed
Statistics show that 95% of internet marketing businesses fail. This is true with any business online or a conventional offline business. For that matter it's true if someone starts out to be a doctor, lawyer, rock star or politician. Maybe it's really more like 95% of people just fail in life period and it's really not business or in internet marketing at all.
However, if these figures have merit and are accurate, there are no doubt many predictable factors involved. If you are in the group of entrepreneurs it makes sense to position yourself as best you can to be in the 5% who succeed.
Rest assured that at least one reason for failure is the lack of a well thought out and detailed business plan. Typically in our rush to achieve a quick financial fix we chase one dead end "opportunity" after another without the benefit of a plan or roadmap. We want to take shortcuts and as a result we wind up on those roads that lead to nowhere.
As far as planning, I've never heard someone say, gosh I wish I hadn't spent all that time planning what I was going to do. I've also never been on a trip and said, gosh I wish I hadn't brought that map along.
Business plans can keep you on course. I've seen it described as, "get your slice of the PIE!" Plan-Implement-Evaluate.
Write a description of your business, what you want to achieve, why you want that and then how you will achieve it. The more specific the better and then implement your plan. If you aren't getting the results you want, adjust your plan and make necessary revisions over and over until you do get the results you want.
To succeed you have to be patient and stick with your plan. If you believe in what you are doing and are fully committed, it will happen. You have to persist. Avoid going after other opportunities unless they coincide with your plan. Later when your business is moving forward you may want to consider another opportunity but if you try to do too much, the result is usually that you will achieve very little.
I've done it. I've lost money jumping from opportunity to opportunity only to make very little progress for my efforts. I thought that the grass was greener elsewhere. I have made many mistakes along the way and I have failed more times than I can remember.
I know better now and only read sales letters that coincide with my present business or enhance my marketing skills to get more sales, etc.
Nearly every internet marketing site is a quick sell sales page and very few really teach anything about what it really takes to build a successful business. It is time for honest people with a sense of personal integrity and commitment to point out the deceptive practices of others. Many don't mean any harm but they were taught that that's the way it's done.
Be honest and ethical in your business. You also need to be persistent and determined to succeed. Three things I've learned over time are to decide what I want, take consistent action and be persistent.
Persistence is one of those keys to success. When something doesn't work learn new ways to achieve the result you want. Persist and decide that you are not going to quit.
The truth is it takes hard work to build a business! You need to have a good foundation of business, money, cash-flow, leadership, marketing, etc. You can't just throw up an ad and expect the money to come rolling in. You need to know how to throw up the ad and all the other elements required to make it work.
If you are willing to pay the price necessary to build a real business there are plenty of opportunities online. If you are looking for instant cash with no effort, prepare to fail.
Lots of people are coming into Internet marketing thinking that it's going to be an easy way to make money and then reality hits them. They see they are really going to have to work, spend money, and invest their time and they wind up quitting or getting stuck in a cycle of jumping from one opportunity to the next. They fail because they never had a solid plan, lacked direction and persistence. They never really considered the real cost for success. As a result, 95% fail.
To Your Success!
David Benton
for more information on this subject and many others related to online marketing as well as solutions go to The Online Insider
However, if these figures have merit and are accurate, there are no doubt many predictable factors involved. If you are in the group of entrepreneurs it makes sense to position yourself as best you can to be in the 5% who succeed.
Rest assured that at least one reason for failure is the lack of a well thought out and detailed business plan. Typically in our rush to achieve a quick financial fix we chase one dead end "opportunity" after another without the benefit of a plan or roadmap. We want to take shortcuts and as a result we wind up on those roads that lead to nowhere.
As far as planning, I've never heard someone say, gosh I wish I hadn't spent all that time planning what I was going to do. I've also never been on a trip and said, gosh I wish I hadn't brought that map along.
Business plans can keep you on course. I've seen it described as, "get your slice of the PIE!" Plan-Implement-Evaluate.
Write a description of your business, what you want to achieve, why you want that and then how you will achieve it. The more specific the better and then implement your plan. If you aren't getting the results you want, adjust your plan and make necessary revisions over and over until you do get the results you want.
To succeed you have to be patient and stick with your plan. If you believe in what you are doing and are fully committed, it will happen. You have to persist. Avoid going after other opportunities unless they coincide with your plan. Later when your business is moving forward you may want to consider another opportunity but if you try to do too much, the result is usually that you will achieve very little.
I've done it. I've lost money jumping from opportunity to opportunity only to make very little progress for my efforts. I thought that the grass was greener elsewhere. I have made many mistakes along the way and I have failed more times than I can remember.
I know better now and only read sales letters that coincide with my present business or enhance my marketing skills to get more sales, etc.
Nearly every internet marketing site is a quick sell sales page and very few really teach anything about what it really takes to build a successful business. It is time for honest people with a sense of personal integrity and commitment to point out the deceptive practices of others. Many don't mean any harm but they were taught that that's the way it's done.
Be honest and ethical in your business. You also need to be persistent and determined to succeed. Three things I've learned over time are to decide what I want, take consistent action and be persistent.
Persistence is one of those keys to success. When something doesn't work learn new ways to achieve the result you want. Persist and decide that you are not going to quit.
The truth is it takes hard work to build a business! You need to have a good foundation of business, money, cash-flow, leadership, marketing, etc. You can't just throw up an ad and expect the money to come rolling in. You need to know how to throw up the ad and all the other elements required to make it work.
If you are willing to pay the price necessary to build a real business there are plenty of opportunities online. If you are looking for instant cash with no effort, prepare to fail.
Lots of people are coming into Internet marketing thinking that it's going to be an easy way to make money and then reality hits them. They see they are really going to have to work, spend money, and invest their time and they wind up quitting or getting stuck in a cycle of jumping from one opportunity to the next. They fail because they never had a solid plan, lacked direction and persistence. They never really considered the real cost for success. As a result, 95% fail.
To Your Success!
David Benton
for more information on this subject and many others related to online marketing as well as solutions go to The Online Insider
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