Why 96 percent of online businesses fail?

How can someone be successful with an online business?

Mary: I'm 14 years old. As I look at the Internet, successful online entrepreneurs are young and very rich. I also want a nice house and a big car. I want to be a successful online entrepreneur. I have already started three businesses, but none of them were successful, even though I once worked on one for a month. What do I need to do to become a successful online entrepreneur? I read that anyone can be a successful online entrepreneur. This is not true?

Ivan: I don't have the money to start a traditional business. Still, I would like to do some kind of business so that my earnings and my future do not depend on an employer. I think 80-90 percent of people have this problem. Previously, I also dealt with multilevel marketing. They said it works for everyone. I was looking for a company where you don't have to pay an entry fee. I was not successful. I couldn't get people to come in and I couldn't sell the products. That's why I quit such companies. I've been reading a lot about online businesses lately. There are some ideas that I like, but I don't know if online businesses are for me. Can I be successful with an online business?

Elisabeth: I'm well over 50. I got divorced about ten years ago. I have a house, a car. My partners regularly too. But something is missing in my life. Acknowledgment of success and people. I don't want to risk my money, so I'd rather start an online business. But in the world, I see that young men and boys are successful with online businesses. As a single woman, what kind of online business should I start to be successful in the world of online entrepreneurs?

If you want to be a successful online entrepreneur, the first step is to join the online entrepreneurs club (https://virtualia.gumroad.com/l/gkami). Also write to my address ([email protected], subject: "online business ideas") for the gift, which will be discussed later in this article.

The Internet and the possibility of online businesses, the development of online businesses have brought a new economic revolution. Many professionals who have dealt with online businesses have predicted a huge economic explosion. Online businesses have quickly become some of the most successful businesses in the world. Almost every year, 10-12 new online businesses appear among the world's most successful businesses that were founded only 1-2 years ago. But it is also true that 96 percent of newly established online businesses cease to exist after the second year. Why?

Why should you start an online business?

Before answering the question of why the majority of online businesses are not successful, I would like to briefly summarize why the vast majority of people start online businesses. The important features of online businesses that make many people choose the online business form are:

- The online business can be started and run without money or risk

- In an online business, you can work from anywhere, even from home

- In the online business, you have no boss and no working hours: You decide when you work and how much

- An online business does not need a production building, machines, and equipment

- You don't need to hire people for online businesses

- The vast majority of online businesses do not require specialist knowledge or education

- With few exceptions, the majority of online businesses do not require competence

- The online business market is the whole world, your partners and customers can be from anywhere

- In your online business, it depends only on you how much your income will be

There are many other advantages of online businesses, but these are the nine advantages that make most online entrepreneurs choose an online business. If online businesses have such decisive and significant advantages, then why can it happen that hundreds of thousands of people who start an online business in the world in vain fail and are forced to cancel their online business?

Online business and sales

Most people flee the world of traditional businesses to the world of online businesses because, as they say, they can neither sell products nor services. This is fundamentally wrong thinking. Ever since humanity started on the path of human development and the division of labor was formed, selling and buying have been present in everyone's life. And every man can sell. It's understandable because no one makes everything you need. What he deals with, he produces in a larger proportion than he needs. So what he has more than he should, he must sell to buy what he does not produce, but which is necessary for him.

The only question is who sells what. In summary, people are sold as follows:

- You sell your time if you are an employee in a factory, store, office, or work on the Internet to someone (even if you work from home)

- You sell your strength if you do hard physical work

- You sell your knowledge if you work on solving any problem for someone (Even if you work from home)

- You sell your product if you manufacture something

- You sell your service when you provide a service

If you can't sell what you do, it doesn't mean that you can't sell, but that you chose a bad product or service. There is probably not a high enough demand for it, or the value-price ratio of your product is not suitable. Maybe you're presenting it wrong, you're targeting the wrong customer base, or your competition is too big and economically stronger than you. The solution is not to conclude that you cannot sell, but that it is time to change products or services.

Among people, those who sell their strength, time, or knowledge are always at the mercy of the one who has them, i.e. their employer. There are many inventions in the world where the actual inventor was not even registered as an inventor, but the owner or manager of the company where the actual inventor worked. That is why most employers want to somehow become self-employed, and start their own business.

Those who sell their products or services are in a better position. But in this situation, their responsibility is greater. If their sales don't go well, they can't go on strike or point out that the sales department can't do its job. After all, they are the "sales department" themselves.

Still, if someone dares to make decisions independently, I advise him to become an entrepreneur. Now, in the world of online businesses, it is much easier to sell an online product or online service and build your business on it than it was for traditional businesses with traditional products and services. But what is even more important is that in the case of online businesses, if we feel that the sale of our products or services does not bring a result that we would be satisfied with, it is much easier to switch to another product that can be sold online, or to another online service, than it was any change in the traditional in the case of businesses.

One more thing I have to say: Not all internet businesses are online businesses. Very often, traditional businesses are installed on the Internet, because this increases their market and makes selling easier. Such are webshops, where traditional products are sold using internet methods, but the products are delivered traditionally. Online businesses are therefore more advanced: they use Internet methods to sell products that do not need to be sold and "delivered" using traditional delivery methods, and they sell services using Internet methods. What are these products and services? It would be difficult to list them all, but to give you an idea of the world of online businesses, I will mention a few:

- Songs, pictures, videos, and e-books sold on the Internet and downloadable from the Internet

- Counseling or conversation therapy via chat, e-mail, or other internet tools

- Online Education

- Organization of virtual clubs

- Organization of virtual events

- Description of Internet advertising, classified ads, and advertisements

Of course, there are also people here who sell their time, knowledge, or qualifications. For example, anyone who organizes individual consultations or holds talk therapy with one person at a time is selling their time. Anyone who completes recognized education accepted in the state school system is selling their competence. Anyone who sells the posts they write, the infographics they create, and the templates they sell are selling their knowledge. But this business is much simpler and more effective than sitting in a small street corner store waiting for customers.

What are the best online businesses?

There is no such thing as the best online business. An online business that suits one person perfectly can be a nightmare for another. Which is the best online business for you? Only you can determine and determine that. In any case, you should choose an online business that you enjoy doing. However, experts generally consider one of the following business forms to be the best:

1. Sale of digital products. These digital products can be written products, such as posts, literary works, professional books, anonymous testimonials, collections of speeches, and quizzes... Everything that can be published on the Internet, that people willingly read and are willing to pay for.

2. Games. One of the most profitable digital products. But few people come up with a really good game idea. And not by deciding to invent a game and then inventing it. Rather, by working on something, he comes up with an idea and develops it, and puts it on the market as a toy.

3. Pictures. The Internet needs more and more images. Man is a visual being. So anyone who makes a website needs an image. The problem is that there are a lot of free photos on the Internet, so people are only willing to pay for really good photos.

4. Videos. The situation is the same as in the case of pictures. The range of free videos here is not yet large, but this range is growing by thousands every day. So the question is the same as in the case of the 2nd, 3rd, and next groups, whether it is worth building a start-up on one of these products.

5. Computer programs. As I said, this is also one of those product types that it is better to skip and only deal with it when a thought, idea, or opportunity pops up. Many new and better computer programs are needed. But making them takes too much energy, and it is questionable whether the invested energy will pay off during sales. Of course, if you have a very good idea that solves a problem that many people would pay to solve, it's worth going for it. But it's good if your business stands on several legs and this idea is only one leg.

6. Songs. Today, many bands, singers, and composers do not release records or other sound media but simply distribute their work on the Internet. It's a good idea because you don't need to invest money and if the band is popular in your area, you can sell relatively many songs. I've heard of singers or bands making a living from it, but not yet that someone got rich from it. It is good to keep this in mind.

7. In addition to this first group, this is one of the four groups that are considered the best: The organization of Internet clubs. If you can establish and promote the club in a rich enough medium and it is grouped around an activity that interests people, and you offer group members what they are willing to pay for, this is one of the best online business ideas. The different card and chess clubs, and clubs for fans of certain well-known personalities are relatively effective (for example, you can offer souvenirs, authentic signatures, biographies, and the latest news to the members of a sports team's fan club).

8. Digital products and surprise boxes. Among traditional online businesses, product and surprise boxes are among the best. Primarily because they generate income continuously, month after month. There is less churn than in other internet groups. If you choose that the members of the group get the product cheaply, say below the actual price of the product, and you regularly send them the same product every month, then we are talking about a product box. This can be shaving products, deodorant, socks, underwear, washing-up liquid, and many other consumables that people and families use regularly. We speak of a surprise box when the contents of the box are not permanent, but change from month to month. In such a case, the subscription price may be higher than the value of the contents of the box. If you don't give a physical product in a box, but instead send digital products by email, it's an online business. It is becoming more and more popular, but the prerequisite is that the social community containing the customers is rich enough. People like to be surprised. Of course, if they have enough money for that. According to marketing professionals, this is one of the best online business ideas. At least its rapid spread suggests this.

9. Online services, which can form the basis of an online business alone, but can also appear in the case of online businesses based on other business ideas. For example, if our business is online consulting, then this alone forms the basis of the online business. But if, say, we have a website building service, during which we sell website templates, images, and videos, then the service appears here together with other online business ideas (I note that this is, for example, a very marketable business that has been in high demand lately).

10. Organization of online events. It is a completely new type of business. Most of the time, it takes the form of web presentations, but there have also been internet chess tournaments, card tournaments, and recitation competitions, where the contestants recited in their schools as part of an online competition. The number of online businesses based on this idea is almost endless. This is one of the best types of businesses of the future. If you want to be a rich online entrepreneur, organize online events and be persistent.

11. Businesses of the User-Generated Content type. These are businesses where the content is created by the clients of the business themselves. So, the owner only has to think of the idea and create the necessary Internet conditions for online business. Examples of such businesses are Facebook or Google, blog platforms, and free website-building sites. But let's not think so big. This group includes Internet advertising sites, dating sites, correspondence sites, product presentations, and evaluation sites... This is undoubtedly the most favorable type of online business idea for an entrepreneur. And most importantly, most of these possibilities have not occurred to anyone yet.

Online business ideas

If you type in the search engine that you are looking for an online business idea, Google indicates more than two billion results. Indeed, almost half of these do not contain real online business ideas in whole or in part, but also ideas for the realization of the Internet are not enough, physical products, services, and presence are important, in whole or in part. But even so, reading these pages would take several human lifetimes. About 300,000 such pages, blogs, and posts are posted on the Internet every day. Many people get lost in the fact that they start reading these sites and cannot stop, even after years they will only be readers of sites that present online business ideas. However, results are not given by reading, but by choosing an idea and starting to implement it in practice.

It should also be mentioned that 80 percent of the businesses listed on online business idea sites are repeated: become a virtual assistant, become a translator, or start a blog... Only the two most important things are never said: How to implement the ideas and where they will come from your income.

The vast majority of people looking for business ideas online never find the right idea for them. (My next post will therefore talk about how to find the right idea, and then how to implement the selected idea.) In the meantime, I recommend my online surprise box business. If you write to my address ([email protected], subject: "online business ideas"), you will receive the first box for free. In this, I'll talk about some important things to know about online businesses and present four online business ideas that you probably haven't heard of. But I will also tell you how you can implement it step by step and where you will earn from it. In the first box, you will receive the information you need to sign up so that you do not miss out on the presentation of any online business idea.

I also recommend signing up for the online entrepreneurs club at https://virtualia.gumroad.com/l/gkami. Only those who want to be successful in the online business sign up here. It is also important that the club can only have relatively few members, so only a few people will receive the most important information so that if you start such an online business idea, your competition will be as small as possible.