Why Online Businesses Fail

Why Online Businesses Fail

There are numerous reasons why online businesses fail, but most of the reasons are solely based on how much effort and planning is put into the process.

The aggregated advantages of an Online Business are more than those of a Brick & Mortar, but the failure rate is very crippling.

Tips to Consider:
Create Brand Identity
Create a Business Plan
Understand Your Niche Market
How Your Service or Products are Different

Below are some points to keep in mind when you start your next venture:

 

1. The Rich Quick Scheme

This is the quickest way to lose money online than making it.  Chasing for the “next shiny scheme”  This is the worst way to learn and progress mainly because you are not giving yourself time to grow and monitor the results. Be focused on your current goals and set realistic timeframes. We all want to “get rich” tomorrow but continuing with this pattern, you are giving your hard earned money to the rich. Continue reading