Why Online Businesses Fail at Such an Alarming Rate

Why Online Businesses Fail at Such an Alarming Rate

Kyle Colman states on his blog that 90% of online businesses fail in the first 120 days… WOW!

9 Reasons Online Businesses Fail

I've been working on building an online business (without e-commerce, done that successfully, want to get away from physical inventory) since around 2003 or 2004. I've built a lot of websites, followed a lot of gurus, and tried a ton of business models. I've learned a lot but never made even one of those sites successful.

I started this site in June 2018 and I'm determined to not give up, yeah, that's what I tend to do.

When I ran across Kyle's post, “9 Big Reasons Why Most People Fail at Making a Business Work Online,” I had to admit that I was guilty of all nine reasons. But there were two reasons that really stood out.

Reason #2 | Most people don’t treat their online business like a real business

Reason #4 | There’s this idea that they can make a lot of money really fast

Yeah, Reason #2 really resonates. In the past, I was always working an 8-hour a day job. Many of those years I had teenagers in the house. There was a lot of demand for my spare time. It was really hard to dedicate the necessary time, much less treat my venture as a real business.

And Reason #4, wow, I have to admit, I really, really, really, wanted to make money fast so I could quit that 8-hour a day job, and when it didn't happen, I gave up. I gave up again and again. You'd think I'd learn.

Well, hopefully, I have learned. This time will be different. My time is dominated by the Amazon business that my husband and I run but I'm making time for Online To Thrive as well. I'm putting in the hard work and I now know it takes time and patience. I'm here for the long haul.

How about you? After reading Kyle's post does any of what he says resonate with you? I'd love to hear about it in the comments below. Together let's see if we can overcome the most common reasons online businesses fail.

Until next time!

Reba

 

About the Author Reba Collins

I’m a fifty-something, self-taught, online business geek from Texas and owner of Online To Thrive. A lot goes into creating an online business and it can be a really scary endeavor. I’m here to help make getting started easy and affordable with step-by-step courses that are clear, straightforward, and uncomplicated.

  • Excellent information here, Reba. I learned from an early mentor (Lisa Suttora) that “if you treat your business like a business, it will pay you like a business; if you treat it like a hobby it will cost you like a hobby.”
    Connie Ragen Green

    • Reba says:

      I LOVE that! That quote couldn’t be more true. Thanks for commenting.

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