Why Online Business gets fail? If you are looking for the same answer then you are at right place. Below we will examine some of the most common reasons that lead to failure of Online Business.
Why Online Business Fails?
There are many reasons for the business failure. But out of these, 6 are common. These common reasons are explained below.
It is said that around 90% of the Online Business get fail in the first four months. This is not because they aren’t smart enough but because they are so impatience. If you want to make money immediately then Online Business is not for you.
Remember, you can’t make money immediately from any online business. First, you need to allocate your time to it. Once it gets settled, it will start generating passive income for you.
We have seen many people who quit their Online Business within a week saying that ‘they are not making any money out of it’.
Solution: Wait for at least 6 months before making any decision. This is because even in google there is a probation period of 6 months. During this 6 months, your website will be under Google Sandbox. You will be eligible for Google AdSense account after 6 months only. So, it is good to wait for at least 6 months before making any comments on your website.
Easy Entry and Exit
Easy entry and exit is another reason for the failure of Internet Business. Since no capital is involved in it, you can start or wind up your business at any point of time.
Solution: Invest some money in your business. This will not only grow your business but also make you serious about it. If you had invested some amount then you will think twice before winding up your business.
In a country like India, Internet Business is not a socially acceptable profession. People will make a joke of you if you say, ‘you are making money from online‘.
It is very difficult to stay motivated in this scenario and slowly and gradually you will move out from this profession.
Solution: If you are making money from online then it is very important to keep yourself motivated. Learn to keep yourself motivated and ignore those people who say ‘It is not possible to make money online, stay away from it’
You can also refer the below article to know how to stay motivated if you are running an online business.
Though it is possible to start an online business without any investment, it is advisable to invest some money in it. Your business will not survive if you do not invest money in it.
Remember, free services are vulnerable to hacking and your business with getting hampered if you do not get upgraded to paid services.
Solution: Running an Online Business does not mean it will run automatically without any capital. If you are making money from online then learn to reinvest that money in your business.
Upgrade your hosting service or buy marketing service for your business. This will grow your business and thereby you will make more money from it.
Lack of Internet Knowledge
If you are thinking that you will provide the best services and the rest will take care automatically then you are wrong. For running an online business, it is important to have the basic knowledge of Internet. You should be aware of online technology like ‘SEO Optimization’ if you want to get success in the online business.
Solution: There are many websites from where you can learn how to make money online. You can also hire a consultant to take care of this. Always keep seeking knowledge that will help you to grow your online business
Secondary Source of Income
More than 50% of online businesses are started for a secondary source of income. If you are running an online business while being employed then it will become difficult for you to manage it.
We can understand you can’t quit your job to start an online business. But a proper planning and dedication can resolve your problem.
Solution: Refer this article to know how to start a side business while being employed.
If you are running an Online Business then please make sure that you have considered above factors before making any decision.
Now your turn. If you got failed because of any other reasons then please do share with us. Your answer will help others to save their business.