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The #1 Reason Why Online Businesses Fail And How To Prevent It

Most online businesses fail, it is well documented that more than 95% of people who start an online business fail miserably and the quit.

The high failure factor is due to many factors but in my own research, I came to a conclusion that this one is the main reason why most online businesses fail in the first place. So in this short post, I am going to tell you what is the reason and how to prevent it.

The #1 Reason Why Online Businesses Fail And How To Prevent It

The real reason why online businesses fail: Mindset

Before analyzing in detail my reasoning let us see first why people start an online business. Most people who start an online business fail in one of these categories, they were employed for a long time and they just retired, they lost their jobs, they don’t make enough money to keep up with their lifestyle or they hate their current job.

This is what most of us were educated, go to school, get a good grade, find a job and dedicate your life doing it, there are many things wrong with this strategy but the main problem is that there is always someone to tell you what to do and give you deadlines.

When you’re a small kid your parents will tell you what to do and what time to be home, when you go to school your teachers will take that role they will tell you what to do, when to submit your tests and when you go home and when you graduate.

You get a job and you have a boss, he/she tells you what to do, what to wear, how to behave and how much you will get paid you don’t do them you will get fired that is for sure.

This is the problem with most people who try to make money online, they grow up in this system, so when they start an online business suddenly they are in charge for the first time in their life, they decide when to send an email when to write and post a blog post etc.

There is no one to motivate them or force them to do even simple things so they end up procrastinating and doing nothing and hence fail.

Imagine you need to send a promotional email to your list of subscribers and your best friend calls you and want to hang out, most people will stop writing the email and go with their friend, then imagine the same situation when you have a normal job, most people they will say no until they finish their working hour.

This little thing called mindset is the main reason why many online businesses fail, so the one million dollar question, how do you prevent it?

How to prevent it

The are three ways I will recommend to prevent this problem.

Read books, watch videos and listen to audios

The first steps to take is to start reading books about business and personal development, these will help you on your journey of becoming an online entrepreneur, reading books like Think and Grow Rich by Napoleon Hill, Rich Dad Poor Dad by Robert Kiyosaki will help you to change your mindset, you can get them on amazon.com but if you don’t have money, , you can just google and read summarized version even those can help you.

Also, you can get audio or video for tips on how to become an entrepreneur, my highest recommendation will be the strangest secret by Earl Nightingale or  video  just go to youtube and search for how to become better entrepreneur videos

Find an accountability partner

Se second way to prevent failure is to find an accountability partner, this is the person that is on the same journey as you and you can share and exchange ideas and knowledge about online business.

Starting online business is not common in our society so probably you won’t get the support you need from your friends and family, so the best strategy is to join online communities and find people who are in the same journey as you and try to connect with them and if you add value and not spam them they can become your business partner or even friends.

Find a mentor

Find someone who has done what do you want to accomplish and do exactly what they tell you to do,this is all that mentors do, if you’re just starting out probably it will be difficult to get a Russell Brunson or Anik Singal to be your one to one mentor but you can start small find someone who made some money online and they will teach you how they did it and when you get some results you can get best mentors out there.

Final words

In this post, I discussed the number one reason why online businesses fail and I gave you three tips on how to prevent it to happen to you.

If you like the post feel free to share it or just let me know in the comment section below what do you think.

 

 

 

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