Many people intent to start an online business because they could see the potential of making money by starting one. The start-up cost is relatively much more cheaper than starting off line business, and it could be started while keeping your day job.
But in reality and from own personal experience few years ago many online businesses fail within the first 3 to 6 months. There are countless reasons, but in reality we could sum them up into three core reasons.
TRAFFIC, TRAFFIC & TRAFFIC
It is same as buying a property, where people always say about location, location and location. In online businesses, traffic is the most important aspect if you want to make money. Lets put it this way, no matter how good is your money making website/blog but if there is no visitors, you will definitely NOT MAKE ANY MONEY.
But if you have a crappy website and somehow you have tons of traffic coming to your site, there are high chances you will make money ( may be not a lot, but there will be some). This is because you are offering people some product/services, and even when many will refuse to buy, there will be always one or two who will be interested. If you have the traffic, then you just have to change or tuned your conversion ratio to give a be better results.
LOST OF INTEREST
It is noticed that many people who go to the Online Business Seminars/Workshop tend to be very fired up at the beginning. They will come home after the seminar and start an online business. However, the internal fire within most of them will fade away (however some will be always in fire – these are the ones will make it) as they could not see their results fast as they wish for. Many of them have this problem because they started an online business model which they do not have interest. Most of them started because they know it could make money, and have seen people making money.
Online business needs passion and interest. You have to treat the business as your real business, and must constantly place in effort to improve it from time to time. In order to place constant effort, many of us need to like what we are doing. If your online business model is at no interest for you, you will tend to let it go easily when things do not go as planned.
NOT GIVING IT TIME TO GROW AND BEING PATIENT
Online business requires time to grow same as off line business. People need to know your website and your product. With millions of websites competing to get visitors, and it is hard for you to be noticed at the beginning. But consistency in maintaining the website/blog will lead to more and more people to notice your website and create repeat visitors. Off course, your website need to have the valuable information for people to keep on coming back in future.
Many people tend to be inpatient with slow progress of their online business, and finally pulling the plug on the business. Any successful online marketer will know that building a successful online business requires time and constant effort to be successful.
Therefore, before starting an online business one should understand three fundamental aspects which are identifying business market and models, creating a website/blog if required and making an offer to people by generating traffic to the website/blog.
These fundamental aspects will ensure you have the interest and ability to stay on the business especially at the early stage when many challenges need to be solved before a successful online business will be established. For detail explanation of these 3 fundamental aspects, read on at my website since it will be out of the focus of this article to discuss it here.