In this blog, I cover the 7 reasons why most people fail with their online businesses.
If you are in business for yourself it is critical that you lay a good foundation and that you don't self-sabotage your online business. What I have discovered is that there are at least 7 reasons most people fail with their online business.
Some of them are obvious and some are not. I will be covering my top seven reasons today. Getting the foundation right is extremely important not only in construction but in your online business as well.
Let’s get started…discover the 7 reasons most people fail with their online businesses
Reason #1 “Let’s Try It Out Mentality”
This mentality is the #1 reason why most people fail. What I mean by this is that if you go into something with the attitude of trying it out you are most likely going to fail. If you say to yourself I am only going to spend $50 on Facebook and if it doesn’t work at the end of that then I am done. Business growth always takes longer than you think. Think of this as a marathon not a sprint.
For example, if I were to run a Facebook ad and I spend $150 and my results are $0 sales and I decide to quit. I just decide that Facebook doesn’t work. Have I given it a good effort? No…Ad networks like Google and Facebook require testing and optimizing. I will need to develop an attitude of resilience. As an entrepreneur, in order to be successful, I will need to have the attitude of “I will figure it out” because business is fluid.
Reason #2 Spend Time With Successful People
There are people who are very techie, they have all of the sales lingoes down and they really know marketing but they are still not successful.
Then, on the other hand, there are people who are not techie, they may have little education but they spend focused time with 6 figure earners. They typically do not complain and they have the correct mindset and take action. They are willing to learn and implement what they learn. These people are successful whereas the first group of people will not be.
Reason #3 Over Consumerism
As people, we always feel like we “need stuff”. We are not willing to live minimally and we love to spend money on things that are not needed. I am certainly guilty of this. It is common for me to put the cart before the horse. My tendency was to go purchase all of the tools before I really understood the system and what I really needed to get started.
The problem I had was that then I would spend my time learning my new tools and not implementing the action that would actually make a difference in my business. The thing is: If you want to radically change your life, you will need to radically change your spending habits. You will need to think about what you can get by with and what needs to be reinvested in your business.
Reason #4 No Business Structure
A lot of people who get into affiliate marketing or start their online business have absolutely no business structure. They do not have a clear plan of action (CPA), are not prepared to pay taxes if they achieve their desired success. All of this creates anxiety.
So…they sabotage because of this anxiety, they are not ready to run a business. Many people have a false idea of affiliate marketing. It is promoted in the industry as a business where you just promote some links and suddenly money starts rolling in. This idea could not be further from the truth.
Affiliate marketing is a real business and it takes real work to make it a success. It requires a business foundation and a business plan in order to succeed. The issue is that when you see people who are successful you don't see the years and the failures that it took them to get to where they are.
Reason #5 Vague Communication
What I mean by this is that you really need to tell people what to do or what the next step is. People will shy away from this due to low self-esteem because they haven’t “made it yet”. They may feel that they are not successful enough to tell people what to do next. Make it clear in all of your communication what the next step is and what they can expect. If you have people contacting you to find out what the next step is then you have not been clear in your communication.
If you do not have your own results use results from others who have been successful. Do not claim these as your own result though. Be honest. Work on your mindset. Get comfortable with the idea of making money and be clear with the next step. With each thing that you do the goal is to get your client or contact to the next step in the process. It is not to get them to the finish line all at once.
Reason #6 No Effort/Resolve
It is very easy to get discouraged and end up sabotaging your business. Many people do not want to try because being an entrepreneur can be challenging and discouraging. Most people may want to start their own online business because of the dream of quick and easy money. I wrote this article about the 3 mistakes that I made..
To be honest this is not reality. Most of the successful people I know who have built their businesses with integrity have worked their a** off. They take responsibility and they have resolve. They are in it for the long haul. As I stated earlier this is a marathon.
Reason #7 No Vision
Most people have forgotten how to dream and think about what it is that they want. In order for things to happen, you need to have a vision of what you want. Here is something to think about. It is the degree, size, scope of your vision that determines the size of your profit.
How much do you care about the end result? How hard are you willing to work to make it happen? A lot of people make the mistake of not setting a big enough goal. They are not inspired to achieve what it is that they have said that they wanted. If you a free book that will help you to discover a simple shift that can change your life go here.
At one time or another, most of us will fall into at least one of the 7 reasons why most people fail in building their online business. These are very common reasons.
Avoid these 7 reasons why most people fail with their online business. If you like this content and want to learn more about how to set up your business the right way, then learn more here! Break Free NOW!
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