In bright lights we continually see the glow of success emanating from Google, Amazon, Apple, Microsoft, Skype, Facebook, Pinterist and others. Alongside this picture are the thousands of businesses who never quite get there, only to eventually disappear without a trace – a dream never to be fulfilled.
Most of us probably never set out to become the next Google or Apple, but we do want to have a successful online presence that at least turns a reasonable profit, enabling us to achieve our life financial goals and desired lifestyle. Why is it then that so often we fail?
This article will provide some valuable insight into failure online and what to do about it – turning your failure into long-term success!
I trust you enjoy the read and learn something valuable in the process.
So – Why Do Most People NOT Succeed Online?
Statistics suggest that well over 90% of all online businesses fail. It is also interesting to note that those that do succeed make significant profit, perhaps due to their low overhead structure and international market.
With every failure, money and time have been wasted. People move from one hopeful ‘opportunity’ to the next. Many are chasing after the elusive ‘get rich quick scheme’ – of course seldom do these ever exist. People who make it big online have found the keys to success and worked extremely hard to get there.
So why do these businesses fail?
Reason #1: Lack Of Knowledge
So many people fail, simply because of a lack of knowledge.
Knowledge is power and in the ever-changing world of internet marketing this is certainly true. Consider the following aspects you need to know:
- Building a quality website
- Search Engine Optimisation
- Affiliate Marketing
- Adwords, Adsense, Analytics, Webmaster from Google
- Lists and Email Marketing
- Facebook, Pinterest, Twitter et all = social media
Many people just do not know how to find their way through this haze of information. What is important for my business at this time? What is the next step?
Without knowedge we just don’t know. We get confused and overwhelmed and become paralysed by our own uncertainty. In the end, our dream fades and just slips away.
Reason #2: Lack Of Niche
We want to succeed so we spread our net everywhere, hoping to catch some fish in the middle of the internet ocean! Alas we fail. Rather than identifying who our key customer is and their attributes, we throw our bait into the huge pool and hope we catch plenty of fish but we only get a few nibbles. We eventually get lost in the midst of the internet.
Reason #3: No Lack Of Scams
The internet sharks circle waiting to attack and gobble you up and unfortunately they know more about this online ‘ocean’ than you generally do. Scam artists are skilful at deceiving us and taking our money, our dignity and our hope.
There are literally thousands of sites and schemes that promise so much but deliver so little. They take so much but give back a tiny portion or nothing at all. Read about how to identify and avoid a scam.
Reason #4: Speculation vs Business
We love to speculate and play the game of chance with the hope of striking it rich when the markets move our way. However, countless times we simply just throw money away. Maybe it is online forex trading or margin tradin in the share market or hundred’s of other possibilities. Of course, some people make a great living from this but most make very little or lose plenty.
Business on the other hand is not speculation.
Business involves building your value over time through providing goods and/or services to satisfied customers at a profit!
Reason #5: People Give Up Too Soon
Business is a marathon and not a sprint. The goal is not achieved in one month, three months or six months but often years. The successful business person takes one step after another. Perhaps they fail and fall at times but they get up and try again.
Successful business is tough. People who have done it may look lucky – but its amazing how lucky people just seem to work extra hard and keep going.
Success online is a marathon, not a sprint. Most overnight success stories took years in the making – it is just that they were suddenly noticed overnight. They consistently have done the right things and when they have failed learned and got back up again and kept going.
People Succeed Online Because …
My desire is that you succeed and are able to learn from the experience of others, including my own failure and success. Here are some key reasons why people succeed online while many others fail.
Success Principle #1: Build Genuine Relationships
There is a saying that states:
“People don’t care how much you know, until they know how much you care”
Unfortunately in a world where people hide behind their computers and the anonymity of the internet, people can often forget about the importance of genuine, mutually beneficial relationship and just take the money and run. However, this does not enable you to build success over the long-term.
Customers want to interact with people who genuinely have their welfare at heart. We recognise that people running a business are there to make a profit but at the same time provide value to the customer.
I have had a wonderful experience at Wealthy Affiliate, an example of an internet business that really cares.
Kyle and Carson (the owners) take great interest in members of the WA Community, setting the tone of genuine, mutually beneficial relationships. Of course they have made a lot of money from the business on the way, but they have been responsible for helping thousands of others do the same, providing value to their customers.
This spirit of genuine relationship filters down throughout the WA community, so much so that you have thousands of people interacting to help each other on their online business success journey.
This is possible through Building Genuine Relationships.
Success Principle #2: Learn, Learn And Apply
My own journey to online success was detoured continually through a lack of knowledge.
I tried various programmes and ways to make money online but with very limited success. I would sign-up to a program but the lack of support and training meant I failed due to my own limited knowledge. I did not know which way to go next – just like being stuck in the middle of a mirror maize. I built websites but was unable to achieve what I was looking for as my understanding of the next step or the right platform was too limiting.
That all changed for me following more online failure, frustration and disappointment. I went on the search yet again for more answers. The outcome of this search was finding Wealthy Affiliate.
Their pledge was to train me and empower me with knowledge so I could be successful. They would lead me step by step to developing a successful strategy for my desired online business. The range of lessons, video training, articles, blogs, 24/7 support has provided me the knowledge they promised. I now have a step by step process to follow.
It helped me find my way out of the maize! Add to this the knowledge and help from thousands of other members and I discovered the most powerful incubator on the internet. If I have a problem or question, I simply log it into the community and generally it is answered within just 5 – 10 minutes by some expert.
It is fine to gain knowledge but application is vital. Success comes as we take one step after another over a long period of time. We steadily and consistently apply what we know.
Success Principle #3: Just Do IT
Many times we just do not do what needs to be done. We have the knowledge but delay for fear of failure or not prioritising our time or some other reason. You can read my blog about procrastination for more on this.
As Nike says “Just Do It”
The key is to do something regularly, perhaps every day or at least a few times per week. Consistency and perseverance will get you there.
Set yourself a schedule of tasks to do. For example Monday research a new topic and develop outline. Tuesday write post. Wednesday edit and upload to website. Thursday write a short post and upload. Friday read blogs and forums.
Do a schedule every week and after a few months you have started to develop a great resource / tool and business.
Success Principle #4: Patience Is A Virtue
There is a saying that patience is a virtue.
It is certainly a quality that will lead to success. When applied to knowledge and ‘doing’, it is the element that will enable success long-term.
We do not plant an apple tree one day and just expect fruit the next week but let it grow and develop. We might not get any fruit even in the next year, but the following it will fruit and if cared for continuously will produce great fruit the next year.
Good things take time and we must be patient and stick to the plan.
Success is an outcome of our processes being consistently applied.
Success Principle #5: Variety Is The Spice Of Life
Too often internet marketers have sought to use only one avenue for their success. Focus is imperative, however it is important to keep up with changes and what is available in the market to assist you.
A strategy that just relies on Facebook social media to build your following or just email marketing will put a lid on your growth and expose you to long-term risk as the market channels change.
It is key that you look for a number of avenues to build your relationships. You can use various sources such as forums, facebook, twitter, Pinterest, YouTube, SlideShare etc.
Select a few channels and build your presence in these media. Use these to funnel visitors back to your website so you can turn them into great customers.
Success Principle #6: Partnership Multiplies Your Efforts
Don’t do this journey yourself. Find partners who can do it with you and enable you to build better, faster and with greater return.
For examples, look at Google and Samsung with the Smartphone operating system Android.
Leverage other peoples knowledge and tools. The Affiliate Marketing business model is brilliant here as it provides you the ability to make money off someone else’s effort and capital. They benefit through gaining a sale. You benefit from earning a commission. They do the product work. You do the promoting.
Wealthy Affiliate is my partner of choice, simply because they provide me the education, technology, community and support I need to be successful.
And Remember – Time is actually your friend in online marketing. The longer you keep producing good content and services out there, the easier it gets. Google, Bing and Yahoo like you more. People know you better and trust you. Trust leads to sales.
All the best and I trust you enjoyed this article. Thanks for taking the time to stop by.
Please feel free to leave feedback or a question below. You can also contact me on my Wealthy Affiliate profile.