Reason #1 — Being Overloaded With Information
We live in the Information Age, and we have never seen this much information on a daily basis. This is great because it gives us choice, but it can also be a real headache like we all know. Selling on the internet today is no different, it can be a real struggle to choose your niche and product(s) and stick with it. The shiny-product syndrome has personally affected me on many different occasions, and it’s a curse because the ‘new’ product seems (so much) more interesting.
Once you got your business idea, seriously limit your exposure to new information (of all kinds) and keep focussing on your list of goals.
Reason #2 — Being Cursed By Instant Gratification
A second curse of the modern time we live in is that we’re used to getting most day-to-day things we need – instantly. We’re spoiled really. This makes us worse at doing things over the long run that require (much) patience. People’s attention span has never been this short in the whole history of mankind. But remember, there are no shortcuts to success, it’s all about the process! Great things always take time to build, they never come in a flash. They always start from one small thing, an idea in someone’s head. This makes it seem really slow in the beginning, and this puts many people off. Especially when things don’t take off after a while…
You need to reprogram yourself and start practicing delayed gratification. It comes with many additional benefits for any aspect of your life too. it’s the perfect catalyst for personal growth.
Reason #3 — Not Having High-Quality Products To Sell
Another extremely important reason why many people fail is that they’ve got a sub-par quality product or service to sell. If they succeeded to make a great offer they might sell in the beginning, but they won’t have (m)any returning customers after that. Plus, the reviews that will arise about your services or products will finish it off. I believe developing (or acquiring) a great product is one of the most important things any brand or business should be working on to start with. And keep improving it over time! Look at the most successful brands today, they all have (mostly) great quality products.
Take service or product quality as seriously as you possibly can, early on. It will be one of the best things you ever did for your brand or company.
Reason #4 — Lacking A Proven Internet Marketing Strategy
The ‘bar’ to start an internet-based company in 2022 has never been lower. Anyone can start a blog trying to sell affiliate offers or a Shopify dropshipping store. But most people start without knowing anything about internet marketing. To become successful online, you need a proven strategy that’s working today. Many important factors go hand in hand with each other and missing only a few of these factors could be the difference between making great money online, and barely breaking even. I used to burn $9k myself because I made this mistake along with many others.
By far the best thing you can do is to find a great mentor who is doing what you want to do and is successful at it. Investing in a great course or mentorship is probably the best investment you can make for your business – ever.
Reason #5 — Lack Of Great Marketing Skills
Most newbies that want to make money online start with a complete lack of marketing skills, mostly because the bar is so low to enter and so anyone can start. There are multiple fundamental skills to learn for each online money-making strategy, and the learning curves for each of them are mostly pretty steep. The result is (beginner) marketers aren’t good at any of them. Let alone master any of them.
The best thing you can do is to start learning the most important skills for your business, a few months before you kick off. If you can give these skills some undivided attention for a few months, it will give yourself and your business a significant advantage. When you want to start, be honest and outsource the things you’re not great at. I have seen so many people that keep insisting they’re ‘ok’ at copywriting while they are really poor at it.
Reason #6 — Being Slow To Adapt To Changing Technological Trends
Most new internet entrepreneurs don’t have great and up-to-date tools and software, to begin with, and this gives them a serious disadvantage, to begin with. On top of that, the technological revolution is going so fast today, that it get worse really fast. Having a successful online business requires you to have a great and up-to-date toolset. Without excellent tools, it becomes near impossible to pull it all off. At the moment the hottest new software packages are powered by AI, and they do things that were impossible just a year ago.
Invest some serious time researching the hottest new (free) tools and software packages that are available today. And to keep your brand or company competitive you should do this at least every year again. This takes some time but the time saved and results achieved can make it up a hundredfold!
Reason #7 — Lack Of (Meaningful) Action
Another reason 9 out of 10 aspiring internet entrepreneurs fail is that they’re conditioned to think online businesses don’t require a huge amount of effort to pull off successfully. To a certain extent, many newbies believe online businesses can be ‘passive’ from the get-go and require minimal effort to get up and running. This might have to do with all the so-called online ‘gurus’ that preach to their audience it’s all super easy and requires minimal effort to earn it big online.
Obtaining an online business that makes any real income needs a massive effort up front. Don’t let anyone trick you into thing anything differently. The more you treat it like a traditional business the higher your chance of success.
Reason #8 — Lack Of Persistence & Commitment
Most aspiring online entrepreneurs today are cursed by a lack of commitment to pursue one or more long-term goals. They hop from one great idea to another amazing one, sometimes in the course of merely weeks or even days. This is a disaster to build any serious online business or any business for that matter. An important part of it has to do with the so-called ‘shiny-product syndrome’ discussed above (Reason #1). And the fact it’s easier than ever before, lowering the bar and thus commitment. And if they’re committed to focusing on one brand, niche, or business plan, many of them lack real persistence to overcome the big hurdles that are inevitable for any business venture.
Become really clear on what and how to go forward before you start any online business! Then the best thing you can do is to find a mentor that does this particular thing and at least makes great money doing it, and let him or her validate your idea from start to finish. And try to build a relationship or enroll in one of his or her courses or mentorship programs. This might be the single most important advice from this whole blog post and could be the reason for you to make it or work a 9 to 5 for the rest of your life!
Reason #9 — Not Having Outstanding Branding
For the majority of online businesses having an excellent logo and branding in general, (including a good name) is merely an afterthought. They have so many things to do behind the scenes it’s simply not high enough on their priorities list. The truth is most online entrepreneurs are not designers and in fact, they’re really bad at it. This is mostly because it’s a really hard skillset to develop, and it has even to do with talent to some extent.
To succeed online you’ll need at least good branding. This is the time to look for great tools to help you with this, or hire an excellent designer on Fiverr or Upwork. To reward you for reading this far (or did you skip to this part and took a shortcut?) I want to give you a secret I use. To find some great brand names I use LeanDomainSearch or Namelix. To make amazing designs and logo’s one of my favorite tools I use is Renderforest.
In the end, it all comes down to knowing what actions you must take to achieve your financial goals! And then take (massive) action, on a daily basis. The #1 reason people fail to succeed online is they didn’t choose the right ‘vehicle’, or business blueprint, and have no clear plan of action.
But that doesn’t have to be the case for you. Things are changing rapidly, and new money-making opportunities arise all around the globe. We live in the Information Age (the Digital Age), a historical period that began mid-20th century. This means that information holds the key to something better (or worse). The right piece of information at the right time can work like magic.
After many years of struggling to make money online (read more About Me), I found the perfect online business model!
Want to learn more? Join former factory worker turned million-dollar marketer and discover the proven formula for automated sales and success, including mentorship!
👉 I hope you enjoyed this blog post 🙏 Let us know what I should add. Which one are you going to focus on in the coming weeks? Let us know in the comments below!