9 Reasons Why Your Online Business Will Fail

out-of-business

Online businesses and moneymaking ventures pop up left and right like wet gremlins, yet only a small fraction of them will have some semblance of success. A lot of people seem to equate the Internet with “easy money” because you’re able to set up a website and try your hand at making money while sitting in front of a laptop at home in your underwear. The fact of the matter is that it takes a lot to create a successful business and not much at all for it to fail. Here are 9 reasons why your online business is slated to be as popular as a screening of Bruno in the Bible Belt.

  1. You bring nothing new to the table. If you think of an idea that’s the exact same as something that already exists and you can’t think of a way to make it better, faster, stronger, sleeker, shinier, lighter, etc., you’re probably going to fail. Nobody is going to use a Facebook clone if it’s the exact same as Facebook. People won’t use your tools if they’re worse than other tools out there and cost more. You have to either offer something completely new that no one has created before or you have to take an existing idea and vastly improve it.
  2. You’re not disciplined. There is no 9-5 when you’re starting your own business, and online businesses are especially time consuming because the Internet doesn’t have a closing time. If you’re not disciplined to hunker down and put in the massive amounts of hours it takes to get a business off the ground, you’re not going to get very far. Your business will reflect your output — if you phone in the effort, you’ll end up with a crap product or service.
  3. You have no focus. Obsessing about how good your site looks instead of improving your tools or products might win you a design award or get you into some CSS galleries, but it won’t bring you satisfied customers. You need to know what to focus on and what’s important — you can’t tackle it all at once, so it’s important to prioritize and determine which tasks have the biggest, most direct impact on your business’s ability to make money.
  4. You don’t trust your team. If you’ve hired a couple people or have a whole team of employees by your side, they’re here to help you, not hinder you (if you’ve made smart hiring decisions, anyway). You hired these people for a reason and they should want your business to succeed as much as you do, so if you don’t trust their work or their ability to make good decisions that will positively affect the business, you’re just creating extra work for yourself and for everyone else.
  5. You think you’re entitled to succeed. Ah, the ol’ entitlement complex. It doesn’t matter if you have a good idea — if you don’t see it to fruition and work hard to make that idea a reality, it’s not going to magically appear by itself. Nobody owes you anything, so suck up your pride and hunker down to get some work done. Respect is earned, sonny boy, and you’re not going to get any if all you do is sit around and expect success without getting off your ass and making it happen.
  6. Your street smarts suck. Who cares if you’re a book smart genius who got straight A’s in high school and college? Being a business owner requires common sense, and if you’re too dimwitted to have good instincts and street smarts, you’ll likely get eaten alive by the competition. People might try to screw you, cheat you, and lie to you. It’s a tough world out there, and if you can’t cut it and hang with the big boys, you don’t belong.
  7. You’re a cheap, corner-cutting bastard. It costs money to make money. Too cheap to hire extra help? Don’t think you need that more reliable server? Sure, you see potential dollar signs in your future but if you’re too cheap to spend what it takes to get your business off the ground, you won’t be making much money any time soon.
  8. You take your customers for granted. If you do have some customers and subject them to poor usability, shitty customer service and bad products, you won’t have customers for very long. Don’t take your users/readers/customers for granted. They’re a huge part of your success. If you don’t appreciate them, they’ll spend their time and money elsewhere.
  9. You’ve never experienced failure. This might be the most important reason of all. If you’ve never experienced failure and you fail for the first time at something, you’re put at a huge crossroads and your tenacity is really put to the test. Most successful business owners have failed numerous times in the past, and they’ve picked themselves up and gone back to the drawing board each and every time to fix what doesn’t work and get back on the right track. If you don’t know what it’s like to fail and you find yourself in a position of failure, you might just throw up your hands, say “Fuck it” and quit. Sometimes you need to experience failure in order to determine if you’re cut out to be an entrepreneur.

There you have it, 9 reasons your business will likely fail. I’d love to hear any other reasons if you’ve got any, or you can share how you’ve grown your own business and any issues you came across along the way.

About The Author

Comments 131

  1. Juhani Tontti
  2. aspkin
    • Canada Immigration
  3. Vic - BusinessAccent
    • Neo
  4. Ben Milleare
  5. Ricky Peterson
    • Jeremy Schoemaker
      • Ricky Peterson
  6. freeme007
  7. Spica Casts
    • Rebecca Kelley
      • Canada Immigration
  8. John C
  9. Brad
    • Neo
  10. Helen
  11. Cassidy Jean
  12. Corey Freeman
    • Holly Mann
  13. Eric D. Greene
  14. Online College
  15. SlingBlog
  16. Nikki Thomas
    • Canada Immigration
      • ZK @ Web Marketing Blog
  17. Adam
    • Rebecca Kelley
      • Adam
  18. Neo
    • Ricky Peterson
      • ways to make money online
        • Holly Mann
  19. Gilly
  20. Gwendolyn Dunbar
  21. Branko Zecevic
  22. used cars westhope
  23. Moni Go
  24. Old_Timer
  25. Gain muscles Secrets
  26. Stocks on Wall Street
  27. Eat My Shorts
  28. fas
  29. Lynette
    • Canada Immigration
    • Ricky Peterson
    • Article Marketing
  30. car dolly
    • ZK @ Web Marketing Blog
  31. Kanon
  32. Dean Saliba
  33. readers
  34. Simon Lynch
    • Nicholas James
    • Holly Mann
  35. Justin
  36. PPC-Coach
  37. Needmoney.com
    • Canada Immigration
    • Holly Mann
  38. Yiwu
  39. Isaac Yassar
    • ZK @ Web Marketing Blog
      • Ricky Peterson
      • Holly Mann
    • Nicholas James
  40. woody
    • Nicholas James
  41. Fix error
  42. Isaac Yassar
  43. ZK @ Web Marketing Blog
    • Ricky Peterson
    • Holly Mann
    • Lip Reduction Surgery
    • Article Marketing
  44. La Digue
  45. S.K Sharma
  46. Azy
  47. bladi420
  48. Wesley Craig Green
  49. What Antique Furniture
  50. Blogger Rise
  51. Michael Locke
  52. Holly Mann
  53. ACLS Sacramento
  54. Liane YoungBlogger
  55. aaron herman
  56. nazcar
  57. Lip Surgery
  58. Michelle
  59. Affordable Web Hosting
  60. Steph Cakes
  61. Promotional Products
  62. Mathew day
  63. gurtey
  64. Juddah
  65. Greg Johnson
  66. Juhani Tontti
  67. phillipmarlow
  68. mutuelle
  69. mikaela
  70. Vany
  71. ZK @ Web Marketing Blog
  72. ZK @ Web Marketing Blog
  73. kresnasty
  74. Diane Klemp
  75. Laborde
  76. yiwu
  77. Rodney
  78. Money making guide
  79. Sasha Gilberg
  80. Urban Klass
  81. Online Marketing NJ
  82. joe mckean
  83. Joseph Allen Randall
  84. Laurel
  85. Stephen Malan

Reply

Weapons Of Marketing
My Legal Issues & Downloadable Resources
ACT Affiliate Marketing Method & Download
FaceBook Ninja Marketing Presentation
Interviewing Darren Rowse Of Problogger
Sarah East From PopCrunch – *NSFW* – Most Awkward Interview Ever
I Spill it All To Andrew Warner
Interviewing Penn Jillette @ TC 50
How To Be Successful Making Money Online (keynote)
NamesCon Keynote Talk (Domain Name Focused)
Affiliate Summit 2012 Closing Keynote With Slides
FaceBook Ninja Marketing Presentation