Why Is My Online Business Failing?

If you were to open a brick and mortar retail store, would you simply ask a realtor for a storefront and be given one for free? Would the city give you utilities at no cost? Would thousands of people walk into your store every month without an advertising budget or even any planning?Yet this is exactly how most people looking to make money online approach an online business. And it isn’t completely their fault. For years shady marketers have claimed we can make thousands a month doing next to nothing. In reality, they are trying to make quick and easy sales from their internet marketing products by manipulating our hope.But this doesn’t mean an online business is just as expensive as an offline business; in fact it is quite a bit less and has far more potential reach. When you think of how many customers you can reach with an offline retail business, it is only those within driving distance. And most people aren’t willing or able to make a commute across town which limits your reach even more.An online business can reach anyone across the world and a sale can be made any time of day or night. No employees are required to complete a transaction meaning zero labor costs.So with these endless possibilities, why is it that a great percentage of people fail to make any money online?I believe the primary reason people fail to make money online is because they treat an online business as a fantasy and do not treat it like a real business. A brick and mortar business requires costs; lease, interior design, utilities, inventory, advertising, and these costs are carefully budgeted.Traffic generation is also researched and planned. Nearly all banks won’t approve a business loan without a business plan which includes extensive demographic research. Offline business owners know who their target customers are and how to reach them. They choose locations that benefit from foot traffic. They are prepared.If we want to succeed with an online business we must understand that an internet business does not do away with the normal costs of operating a successful business, it simply has inexpensive equivalents.- A domain. Registering a domain is the equivalent of choosing a location for your business. The better your location, the greater chance of gaining foot traffic.- A Website. Think of your website as your storefront. You need a place for your customers to come into, and they need to be able to find it appealing and easy to find what they need and check out.- Hosting. A web hosting plan can be compared to your utilities. If you don’t pay the phone bill a customer will not be able to reach you.- Advertising. How many businesses do you know of that have no listing in the phone book, budget no advertising, and stay in business? None. So why would it be any different to run your online business this way?Running an online business is very inexpensive. Most hosting plans combine domain registration (an est. $7-$15 one-time yearly fee), hosting (est. $3.95-9.95 a month), and a website all into one plan leaving advertising as your only primary cost.So even though the cost of an online business is incredibly low, we must still treat it like we would any other business. Do proper research to know who your audience is and how to offer them the greatest value. Design your websites with the customer in mind. And be willing to invest in advertising, and your continued training.There are no miracle techniques or secrets to making thousands of dollars without doing anything in return. But an online business remains the best way to make money with the least amount of expense.

Exposed! 5 HUGE Myths of The Online Business Model

The online business is an industry that didn’t exist a few years ago, yet today there are thousands upon thousands of people trying to make their living online. I’m sure you’ve all seen adverts for online marketing schemes proclaiming that you will make millions in minutes if you sign up today, but the internet marketing business isn’t easy. In this article I am going to dispel a few more of the popular myths surrounding online business.Myth 1 – Online Marketing is Free! If only this were true! Online marketing is not free. There are elements of it that can be very cheap, and yes some things are free. However, I can guarantee that anyone who has had success in online marketing will have spent money on their campaigns and in some cases a considerable sum of money.Learn to use Social Media to your advantage, build up a following and make the most of free traffic to your blog, but in order to really get targeted, driven traffic overnight you will have to invest in advertising.Myth 2 – You need to be an IT Geek!Maybe in the early days of the internet the people who got ahead were the ones who could write the code and get the site set up. Even now, we need our internet geniuses to come up with new innovations – just look at Mark Zuckerberg! But the online business is constantly evolving, and for that you need a business brain and marketing mindset. Great business don’t become great just because their site is based on a brilliant algorithm, they become great because of the business that has monetized it.Myth 3 – You Can Plan a Viral Campaign! Everyone wants a viral campaign. It’s practically the holy grail of the online business. Unfortunately though, it’s almost impossible to predict what will spark the imagination of the world at large and deliver you millions of hits! You can research a great idea, invest in advertising, put it all together and release it with a great PR stunt across all of social media, with adverts to draw people in, but if people don’t pick up on it and share it with their friends over and over again then you may have wasted a lot of time and effort for no gain.If something doesn’t go viral, it’s not a failure. Instead, if you plan each of your marketing campaigns to reach out to the right audience for that product you will start to achieve steady, consistent results and a great reputation.Myth 4 – You Can Set Up The Online Business Then Leave It Alone! The internet changes every minute of every day due to people uploading new content. As a result, the online business world changes constantly. Things that may have worked wonders in 6 months ago can be old news today, so you always have to be on your toes to identify the next big thing. Industry leaders in online marketing will know to tweak their landing pages and funnels all the time to see what brings them better results – the advantage they have will be an established business with regular income allowing them to spend more on research.For people who are new into the internet marketing world it’s crucial not to throw good money into a campaign until you know it can give you a good return, and then never assume that campaign will continue to deliver long term.Myth 5 – I Can Get Rich Quick! If you go into any business with the Get Rich Quick attitude, without doing your research and setting a real business plan for how you will get rich, then the chances are you will fail. There are loads of internet schemes promising that you can’t fail, but unless you are willing to invest time and money into what is a REAL business, then you can’t possibly get a return on investment.While there are undoubtedly people who have made money overnight, it’s not the majority. Online marketing is a great industry to be part of, but as with any business, you have to be prepared for hard times as well as good times.