In my opinion, people fail at their online business because they do not take it seriously. They lack persistence and motivation, don’t believe in themselves or the business, and don’t do the necessary work. This is mainly why 95% of people fail online.
The reasons of their failure are:
– Wrong Mindset
Many people get into an online business because it is easy to do so and they think they can earn money just being in the program and doing nothing. They sign-up, expect the moon and quit a month or two later and call it a scam! Their mindset is set to “employee” and not to “entrepreneur”, and it is not difficult to imagine how they perform in their job.
– Too cheap
Running an online business is too cheap. It can be done with a monthly budget of $25 to $200 and because of the low cost it is difficult for most people to take the business seriously. The cost of a brick and mortar business like a shop, a company, a franchise or even an eCommerce site is much higher and entrepreneurs going these routes take their business more seriously.
– Lack of motivation
It is vey difficult for people to have motivation when working alone from home. Positive results may not come as fast as expected and motivation is a necessary element to success. Being part of a team, joining a mastermind group or a forum would certainly help to stay motivated.
– Lack of persistence
Just like a regular offline business, certain tasks have to be done daily over a certain amount of time before seeing results. Most people are too impatient and they are not willing to put consistent work and be persistent to get the results they want. There are also those who do the work over a long period of time, but get discouraged and quit just before finding gold.
– Lack of belief
Many people join the wrong business opportunity. They choose to join a business they don’t believe in, promoting products they don’t believe in. Even if the company is excellent, it is unlikely they will succeed. How can they sell products they don’t believe in? In addition, they may not believe in themselves, they may not believe they can succeed in the business… and they will not.
Knowing a few reasons why 95% of people fail in their Internet business can definitely help identify what is wrong and what needs to be corrected. Some people should not get in an online business at all as it is not for everyone.
There are many good online business opportunities on the Internet today, but if you’d like to be in the 5% bracket of successful people, join my team.