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10 Reasons Why Your Online Businesses Will Fail And What To Do Right - Business - Nairaland

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5 Online Businesses You Can Start With Low Budget Even If You Are Broke / 16 Reasons Why Many Businesses Fail And How To Avoid Them / Why You Should Fail And How To Fail Well (2) (3) (4)

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10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 8:25am On Nov 01, 2018
Many are drawn into the allure of starting an online business no matter how small, I mean you get to be your own boss, plan your business around your lifestyle, quit your gruesome 9 -5 job.

The Online Business world is really not what you think, what you think you see is far from the truth about the online business world.
A whopping 90% of all online businesses fail in the first 120 days according to research done by fortune.com.

There are so many reasons online businesses fail in Nigeria, below are some of these reasons:


1. Lack of Commitment

Many people dream and talk about how they want to start an online business but very few are actually committed to starting, let alone running the business. As an aspiring online business owner, you are currently failing because you have not been able to start, waiting for the "perfect time". Others that have started are failing because of lack of commitment and consistency. They do not treat it as an actual business but as a hobby of some sorts that is why they fail.



2. Lack of Basic Business Knowledge

Advances in technology and online services have made it easy for almost anyone to open a business online. There are a variety of website platforms and shopping carts that allow you to sell products from your website, with setup perhaps only taking a few hours. If you’re familiar with the internet and know a little bit about HTML, you may figure that it’s simple to set up and operate an e-commerce store, a blog, forum, sales copy, etc – with no business background required.

Unfortunately, not having a general knowledge of basic business terms, or how businesses operate, might be your downfall. If you have a successful e-commerce store that is making a few thousand dollars a week, but you don’t know what your operating costs are, you may run out of money very quickly. Alternately, if you’re not keeping track of the profit margin on the products you are selling or tracking the costs of the sales you are running, you may be reselling products for more than what it cost to purchase them in the first place!



3. Not Analysing The Needs & Demands Of Target Customers Beforehand

Not analyzing the needs & demands of target customers is yet another reason why 90% online startups fail to succeed. Remember, you need enough customers to buy your products or service, for your business to succeed. And that’s why it makes sense to evaluate your potential customer base before launching your new business.

You’ll need to present yourself as an attractive option to lure customers to your business.



4. Horrific Monster-Like Strategies

It seems like someone launches a new tactic, strategy or business model every week — if not every day.

The outcomes they promise are so tempting that it’s damn near impossible to resist trying them.
I mean, how can you turn your back on strategies that offer to “10x” your content, traffic, profits, and email list?

Here are just a few of the tantalizing offers that could drop into your inbox any week of the year:
Get 100,000 Instagram Followers
Get 10,000 email subs with Facebook ads
Build a 6-figure online course
Become a popular guest blogger
It never ends…

So you get scatterbrained and decide to try a little bit of everything. You take bits and pieces of powerful strategies and tactics from multiple mentors and coaches and blindly mix them together.

But in doing so, you inadvertently create a monster. A monster that’s destined to wreak havoc and destroy your business, your time, and your pocketbook.
I like to call this: "Horrific Monster-Like Strategies"



5. Not prepared to face failure

This is ironic because you are trying to avoid failing in the first place. So how does preparing for failure help you prevent failure? If you start an online business thinking that you will succeed without making mistakes or failing at something, it is better you don’t start the business at all because failure is the mother of success and always should be prepared for.

Johnny Cash, one of the most influential American musicians of the 20th century says; “You build on failure. You use it as a stepping stone. Close the door on the past. You don’t try to forget the mistakes, but you don’t dwell on it. You don’t let it have any of your energy, or any of your time, or any of your space.”

Napoleon Hill in his book titled, “Think and Grow Rich” says; “when defeat comes, accept it as a signal that your plans are not sound, rebuild those plans, and set sail once more toward your coveted goal.”

Many people fail in their online business because they are not prepared to face the reality of failure and when it comes, it swallows them up. Failure is always an option and a stepping stone to success, be ready to face it if you want success in your online business ventures. Preparing to face failure means that you have thought ahead and devised countermeasures or you can manage a failing situation, learn from it and manage to turn things around.

This is the first part of of this interesting article. if you intend to start a fail proof online business that requires you to follow a step by step proven blueprint, please check the source.

CLICK HERE TO SEE SOURCE
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Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 4:32pm On Nov 01, 2018

Thanks for the info Jagaban. I have few questions for you and I'll be glad if you provide me with the appropriate answers. They are as follows;

1. What is the minimum and maximum number of products I can promote at a time?

2. Do I have to create a squeeze page for every product am promoting? If yes, where would they be re-directed to the moment someone opts-in?

3. Is it possible and advisable to promote different products from different niches at a time?

4. Is my landing page the same as my blog? If yes, can I do as above in question "3" on it?

5. Kindly clear my fear on these ones while I ruminate on the other areas I have questions.

Thank you.



1. for my affiliate marketing i mostly use clickbank and i promote not less than 5-10 different products at a time and i have never heard of any limitation to number of products you can promote.

2. yes. every new product you want to promote needs a unique squeeze page. the squeeze pages can be on a single domain and hosting. this is the reason why i advice buying general name domains instead of niche specific domains. e.g supercourses over looseweight dot com. the reason is that you want to promote many products on the same domain. it will not look wise to promote make money products on looseweight domain.

3. yes if you can handle it. no if you cant. i personally promote any product in most niches if i have an hungry traffic for it. but this does not in anyway mean that a person subscribe to my make money list and i will start sending him dog training promotions. i will never do that.

4. a landing page is the page you direct your visitors to. if i say a landing page in this context i basically mean a squeeze page. a squeeze page is a single page where you collect potential buyer email addresses. partly answered in 3 above

5. visitors to your squeeze page are potential buyers. if they optin to your list, they are interested and most likely willing to buy. after subscribing to your squeeze page they should be redirected to your hoplink. that is the product you are promoting using your unique hoplink. if they buy instantly fine, if they dont, you already have their mails and your mailing series will follow them up.

will you like to have a peep on how i made over N271,500 from affiliate marketing within just 5days? see it here

2 Likes

Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by oyepaulkay(m): 5:01pm On Nov 01, 2018
Thumbs up.
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by qanda: 5:03pm On Nov 01, 2018
ok
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:03pm On Nov 01, 2018
oyepaulkay:
Thumbs up.

thanks.
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:04pm On Nov 01, 2018
Justine2Sweet:
awesome!

thanks
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by promqueen247(f): 5:06pm On Nov 01, 2018
Guilty, No one would teach me, All i keep seeing is ebooks, i need someone to teach me oooooo.

1 Like

Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by Kennedy94(m): 5:07pm On Nov 01, 2018
cool
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:08pm On Nov 01, 2018
promqueen247:
Guilty, No one would teach me, All i keep seeing is ebooks, i need someone to teach me oooooo.

of which of the points?
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by Dajugba: 5:10pm On Nov 01, 2018
Absolutely true.
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by promqueen247(f): 5:10pm On Nov 01, 2018
ogapikin:


of which of the points?
2 (basic knowledge).
The other time i was inquiring about bitcoin and all i keep getting is buy ebook lol
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by IamPlato(m): 5:18pm On Nov 01, 2018
...


The Reason Why My Online Business Is Failing Is because One Bastard stole My New Android
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:27pm On Nov 01, 2018
promqueen247:
2 (basic knowledge).
The other time i was inquiring about bitcoin and all i keep getting is buy ebook lol

sister most free guides are free of knowledge. if you really want to learn something online, get somebody that you are comfortable with and pay for his course. forget about those that will tell you that they are all available free on google except if you have eternity to spend on research. this is the bitter truth.
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by Aydesmond(m): 5:28pm On Nov 01, 2018
Check my signature
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by Coldplayyy(m): 5:29pm On Nov 01, 2018
I reject it, OP.

my online business will not fail. Amen tongue

1 Like

Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:30pm On Nov 01, 2018
IamPlato:
...


The Reason Why My Online Business Is Failing Is because One Bastard stole My New Android


hhhh, and what are you using to make comments now?
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:39pm On Nov 01, 2018
Coldplayyy:
I reject it, OP.

my online business will not fail. Amen tongue


bro it is neither a wish nor a prayer. it is just another way of saying avoid these things and succeed in your online business.
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by SenhorSean(m): 5:40pm On Nov 01, 2018
Awesome
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:41pm On Nov 01, 2018
SenhorSean:
Awesome

thanks. your signature is awesome.
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by Nobody: 5:47pm On Nov 01, 2018
Op;you seem to know what to do.....how much is in your account?
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by SenhorSean(m): 5:47pm On Nov 01, 2018
ogapikin:

thanks. your signature is awesome.
Thanks
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by Cerakay: 5:48pm On Nov 01, 2018
Please ...how responsive is Instagram product and services promotions?
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:50pm On Nov 01, 2018
Niketrouble:
Op;you seem to know what to do.....how much is in your account?


still a broke ass nigger. just hovering around 7.5-N8m. but the target is to hit N100m asap.

1 Like

Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 5:52pm On Nov 01, 2018
Cerakay:
Please ...how responsive is Instagram product and services promotions?

paid or free promotions?

both are very responsive. if you are good at engaging an audience, then instagram is a gold mine for you. i have friends that are making over 2million naira monthly with just about 7k instagram followers. so, targeting and engagement are the key on instagram

2 Likes

Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by emperorblog(m): 5:54pm On Nov 01, 2018
nice one
NEED A BUSINESS IDEA? CHECK MY SIGNATURE
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by Nobody: 5:55pm On Nov 01, 2018
ogapikin:



still a broke ass nigger. just hovering around 7.5-N8m. but the target is to hit N100m asap.

Lies from the pit of hell....post pictures or we don't believe it....another regurgitated material dubbed from the internet
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by Onlinealaba(m): 5:57pm On Nov 01, 2018
Online biz can get frustrating in the long run if you are not playing your game well, knowledge is key..

check my siggy, get your electronics, SMART TVs and sound bars at affordable rate,payment on delivery, BUY4ME services available too with POD option.
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ogapikin: 6:08pm On Nov 01, 2018
Niketrouble:


Lies from the pit of hell....post pictures or we don't believe it....another regurgitated material dubbed from the internet

here you go. your condition does not apply to everyone. guess what!. i have a fiancee and i do not cheat tongue

4 Likes

Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by ShenTeh(m): 6:15pm On Nov 01, 2018
The title harsh!

Darn!
Re: 10 Reasons Why Your Online Businesses Will Fail And What To Do Right by lawrence35(m): 6:35pm On Nov 01, 2018
I always say it, to make money, you need people..... People to follow you, then start from there.

Getting followers in form of emails etc is key to make sales online.

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