5 Reasons Why Most People FAIL To Build An Online Business
Okay so we see so many people start up their online business for the first time, most of which are complete newbies to digital marketing and the online world (which is okay as so were we when we first started).
But why is it some people fail while others succeed? I suppose there may be many reasons depending on backgrounds, experience, skills etc. however in our experience there are a few common reasons that appear regardless of where a person comes from or what they may already be good at.
So here are the 5 most common reasons people FAIL when starting and trying to build an online business.
1). Lack of belief in themselves
Most new entrepreneurs believe that “successful” entrepreneurs have always been successful. What they don’t understand is all successful entrepreneurs have had their own struggles. Anything worth having takes effort and sweat to achieve.
Nothing comes easy and in order to achieve massive results you have to take massive action. This means you probably need to push through some resistance, or self-limitations in order to achieve.
We’re all the same! We all have internal struggles and doubts.
To be a successful entrepreneur you have to first accept that you may not have all the skills or know everything that you need to know…. YET, but you absolutely have what it takes within you to be successful.
Successful people have learnt that it’s their mindset that determines their direction and their actions that determine their outcomes.
You have to believe you have greatness within you. Believe you are worth it and you can learn what it takes to reach your goals and dreams.
2) They don’t surround themselves with like minded people
Part of getting the right mindset is looking at the major influences in your life. If you want to know where you’re going to be in the next 2 to 5 years it’ll be based on what books you read and who you hang around.
It’s so true. If you want to develop the mindset of a successful entrepreneur then you need to start feeding your mind with the daily thoughts of successful people. Unless you’re good friends with Richard Branson or Gary Vaynerchuk then chances are you need to go out and either buy one (or all) of their books, subscribe to their website and stalk their social media channels.
Take a good look at your closest friends that you spend most of your time with.
Unfortunately most people take their financial advice from their closest friends and family. Unless they have the lifestyle you want then I would suggest you stop listening to them in matters that effect your pocket.
3) Unrealistic Expectations
We see this one so often. We can’t tell you how many people begin their online journey wanting to be millionaires within a few months. They think it should be as simple as pushing a button and then the money starts to flow.
Sorry! It doesn’t happen that way. It takes consistent effort over a long period of time for you to start seeing long term results. You need to have belief in yourself and the system you are putting in place then do the work on a consistent basis before you start seeing anything substantial.
This is probably one of the major mind shifts from being an employee to being a business owner.
An employee trades their time for money. They do 40hrs work in a week then they expect to be paid for their time.
A business owner knows that they are no longer paid by the amount of hours they put in. They are paid by the results they achieve. To achieve worthwhile results will take time and consistent effort.
When a new entrepreneur starts out with their employee mentality it’s no real surprise then that most quit before they really get started. “I’ve been doing this for 2wks, 4wks, 4mths…. and I’m not making 6 figures yet. Maybe I’m not meant to have my own business”.
Be patient. Results will come and when they do they come is spades full. Remember you’re looking to build a strong business that will stand the test of time.
4) Failure to Invest – in themselves and their business
I’m stunned when I hear people say they can’t afford $30 or $100 to buy a book or a new online course that will teach them new online skills. They want to make $10,000 per month however they don’t want to invest in their business or themselves. Are you kidding me??
When we first started out with our online business we knew that everything we had learnt up to that point had got us where we were that day. And if we wanted to continue to grow and enter this new world of online marketing then we would probably need to learn some new skills.
We understood that this was one of the most valuable things that we could do if nothing else. You see no matter what happened with our online business, we would always have the new skills.
Invest in yourself – we can’t stress this enough.
5) They Give Up
So here it is. It’s easily the main reason people fail with their online business. “Obviously” I hear you say. However they give up for lots of reasons (mainly the ones above).
A successful entrepreneur has tunnel vision. They are going to succeed no matter what. It doesn’t matter how tough it gets they will push through, find the answer and make it work.
In short – they never give up.
They will fail, yes. They will struggle and find it tough at times, yes. But they will never give up.
You see they don’t see failures as the end. They see failures as the necessary stepping stones towards their future success.
If you take nothing else away from this post today, take this – you are no different to every other person who wants to build a better future for themselves, their family. The only difference is if you quit when it gets tough.
Are you willing to fight for your future. Fight for what you can build and the fulfilment you so richly deserve in your life. The best advice we can give you is be clear on your dreams and goals. What are you doing it for? What is the reasons you want to build a better life?
When times get tough, and they will, then you’ll need these at the forefront of your mind so you can dust yourself off and try again.
So there you have it. 5 reasons why most people FAIL in their online business.
We hope this gives you some insight into the road ahead and can help prepare you to make sure you push through your mental barriers, your struggles and be another online success story.