The Secret Truth About Starting An Online Business

bygjshawk

1.6K followers

5 years ago

Before You Start An Online Business, There Are Some Things You Should Know

There are statistics out there that indicate that up to 90 percent of beginning online businesses fail within four months. That's only a third of a year! What is the "Secret Truth" about starting an online business?

The Secret Truth Is That WAAY More Online Startups Fail Than Succeed. Especially Online

In fact, not only online startups fail. Even brick and mortar businesses fail at an alarming rate. In fact, for all business startups in 2011, for example,

• Only 79.4% reached their 2nd year
• 69.3 were still around for their 3rd year
• 61.9 made the 4th year
• and 56.3 survived for their 5th year

The above stats are from the Bureau of Labor Statistics. View the chart for yourself.

https://www.bls.gov/bdm/entrepreneurship/bdm_chart3.htm

Of all those failures, almost half (46%) failed because of incompetence. That's a reason that's easy enough to overcome with the proper training.

So, Why Do We Fail?

In a post written for the Huffington Post, contributor Greer Wignall outlined 10 reasons why so many new online businesses fail. In a nutshell, here's her list:

1. The #1 reason, according to Wignall, that we fail is that we COMPARE ourselves to others. We see the success of some and get discouraged when our own experience is different. Worry, self-doubt, concern that we are on the wrong track can all get us down when we compare ourselves to more successful people
2. We try to do it all on our own, not looking for help or support. We become overwhelmed, or afraid, or feel lost or frustrated. We begin to feel unprepared for the long road ahead.
3. We don't understand how to make ourselves visible on the web.
4. We don't have a plan, and if we do, we don't follow it.
5. We don't know how to write good copy, or use SEO to grow our visibility.
6. We don't know who our target audience is or where and how to find them.
7. We establish a presence on social media, but then get lost and waste time browsing.
8. We fail to take action, or we don't take ENOUGH action. We waste time.
9. Poor planning. We don't have a plan or we don't follow it if we do. We tend to procrastinate.
10. Lack of commitment. We don't focus, and we find it hard to decide what to do next. We find it hard to start, and hard to keep going.

But We Don't HAVE to Fail. What Can We Do To Avoid Failure?

After analyzing all 10 of the reasons that new online business owners fail discussed by Greer Wignall, I have come to the conclusion that the best, most secure, and possibly the easiest way to avoid the pitfalls of failure is to join Wealthy Affiliate.

I know that sounds like a brazen attempt to recruit people to the WA website, but I really do believe that all 10 of the reasons people fail can be overcome with a WA membership.

With a Wealthy Affiliate membership you can beat the odds!

The training is second to none, and we are taught how to build our businesses step-by-step. We are taught how to write great content, how to use keywords and use SEO, how to reach our target customers, and we are given great support.

We get support from the professionals, and from everyone involved as members of the Wealthy Affiliate community.

If we don't know how to plan, we can learn how.

If you aren't committed, members of the community will do their best to help you get motivated.

With a Wealthy Affiliate membership, the only way to fail is to QUIT. We all work and succeed at our own pace, but succeed we will if we stay the course and never give up.

So If You Have Started An Online Business, Join Wealthy Affiliate To Assure Your Best Chance At Success!

There should be no reason to put it off. If you're not a member of Wealthy Affiliate, you can become one for FREE and begin your path to success in your own business.

Thanks for reading. Please leave me a comment or a like.

I'm Grant.