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Ash, why is the online business failure rate so high? It’s a tough question to ask and to get a solid answer. I think I know the answer, but at the end of the day, it’s a mixture of reasons.
But what are they? If it’s a combination then why does it happen?
First and foremost number one, in my opinion, is that the person is not ready. It’s a massively overwhelming step learning a new skill. This is a skill that not many people know; you do know that all internet marketers learn it? They did not just randomly earn lots of cash. The same issues whether it was two years ago or 10 years ago.
People do not adapt I have put this pretty high up on my list too. You need to adjust, or you will be left behind. You need to learn the new methods, keep up to date with current trends and not to mention if a plan fails, how do you pick yourself up from that and try another idea?
Distractions ultimately internet marketers have to market. If you are signing up to everything and having way too many ‘businesses’ or ‘tools’ you’re going to struggle. You need to stick with one, master it and grow a team; then you’re wasting your time.
Financial this one is a sticky one. Why? Because people don’t like spending money on education to learn how to become an internet marketer but would happily but an iPhone or go on a night out. Strange right? It annoys me a little because to me learning is everything, having the tool to enable you to do what you want and having that skill for life to earn money online is more important than a phone or new trainers, etc.
Time this is something people don’t understand. It does not happen overnight. It takes time to build things up, learn the process and turn leads into sales and so on. You cannot get an online income by just sleeping (yes people do earn in their sleep) but not at the start when they have no audience to market too.
Effort you have to work your face off. I mean this. 20 hour plus days, constantly on your phone speaking to people, making up emails, generating leads and creating a buzz. But before that, you got to learn it all. It takes a lot of effort to be able to put it all together, and you need to understand that before you start and get involved in any company.
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I hope this sheds some light on why some people do fail. This is obviously not concrete as everyone is different this is opinion based which I know a lot of people can relate too. Got to remember 97% of internet marketers do fail. It’s a well-known fact and a one a lot of people can relate too.
Stick to the simple principles. Focus on one thing, Invest in knowledge, work your face off and give it time. Then picture yourself in 6 months what it could be like if you keep the same momentum. Nothing happens overnight. Remember that.