There are now more ways than ever for people around the world to earn money from their laptops using online tools. Some of the ways include writing blogs, creating and selling products, offering services, building brands, and using the internet to earn passive income.
However, despite a plethora of opportunities available online, most people that try to create an online presence ultimately fail. Why? Because they are following the wrong methods, mindsets, and strategies.
In short, the road to success will be less about luck and more about discipline, patience, and smart execution of their strategies.
In this article, we will not only identify the common causes of failure when trying to build an online business, but we will also provide you with tips on how to achieve success instead.
❌ Reason #1: Having Unrealistic Expectations of Financial Returns
One major factor contributing to the downfall of many online businesses is having unrealistic expectations regarding your financial return on investment (ROI).
A lot of beginner entrepreneurs have created unrealistic expectations for themselves based on what they have read or heard about successful online entrepreneurs. Many of these beginner entrepreneurs think, “I can make money in 7 days”; “My online business will pay the bills by next month”; or, “Building an online business is easy.” Unfortunately, the reality is that true online entrepreneurs take time to build their businesses and see real financial success.
✅Tips for Turning Things Around:
- Replace the urgency to make money with patience:
- Focus on the learning phase before you start generating any income.
- Focus on skill development before you start making money.
- Create short-term (3 to 6 month) goals for your business.
- Think of it as a business rather than as a lottery ticket.
👉 Example:
As an example, when you are building your banging’ blog, it may take you months to earn any money, but once you reach a certain level of popularity and have achieved a good ranking on Google, you will be able to begin generating consistent streams of income—this will be true for everyone who sticks with it until this point—those who quit early will not make it.
Reason #2: They are Inconsistent.
Many people start out great at publishing… and then vanish.
Those who publish today stop publishing for two weeks, publish again just once, and then stop again altogether. Algorithms and audience members don’t reward inconsistent posting patterns; they reward consistently posting to the same schedule.
How to Win
Establish Habits vs. Hype:
Develop a consistent posting schedule (i.e., a schedule of when you will be publishing content) Create a consistent daily schedule (i.e., 1 hour of work on content creation every day)
Continue to track your progress Create processes/systems instead of relying solely on your motivation
For example, you may publish content once per week for an entire year and get more views, interaction, leads, and trust from that than if you were to publish 20 pieces of content in one month and quit.
When you consistently accomplish these things, they will compound.
3: They Don’t Learn How to Market
Simply owning a website, a YouTube channel or a product isn’t enough. If no one knows about it or sees it, no one will buy it. The majority of NEW (beginner) practitioners are focused on only creating. (Note: the example of the “great” blog without SEO has 0 visitors and the “simple” blog with SEO gets thousands.)
Learn the Basics of Digital Marketing.
Learn SEO for Google; how to effectively distribute content across multiple social media platforms; how to build an email subscriber list; how to promote your content; how to engage with your audience.
FOR ALL MARKETING
Traffic + Trust = Sales (use this rule to determine whether you will continue utilizing a marketing method)
Example: A great blog with no SEO gets no traffic; a simple blog with SEO gets thousands of visitors. Marketing allows you to convert effort into income.
Reason #4. They Quit When the Result is Slow
Online businesses are effort-heavy at first and have a large payoff at the end. You put in the effort to get started and see little or no reward for your time. It’s only after several small efforts produce big returns.
Many people give up during the “silent” phase of their efforts.
To win, you need to recognize the growth curve:
0 -3 months: Learning phase
3-6 months: Testing phase
6-12 months: Growth phase
after 1 + years: Scaling phase.
For example, most YouTube creators will have posted 50 videos before posting their first viral video. Those who win are the ones who exhibit patience toward their success.
Reason #5. They Copy Without Understanding
While success may not happen overnight, it does occur eventually.
How To win
you should properly become a learner instead of just a follower.
You can do this by:
* Understanding your niche
* Testing different strategies
* Analyzing your results
* Improving your strategies on an ongoing basis.
The following is a good question that you can ask: “Why does this strategy work?” instead of, “What strategy should I duplicate?”
Rather than duplicating a blog design, learn how to do keyword research, understand content intent, and learn about audience psychology.
Do not take shortcuts; instead, develop your skills.
Reason #6: They Get Distracted Easly
Distractions are abundant when you are working online. There are:
*Social Media
*Notifications
* Shiny objects
*Comparisons with others
*Multitasking
With so many distractions, your focus tends to be lost and the speed of your progress slows down.
How to Win
To win in this game, you need to retain your attention by following these rules.
To win: Make time for your deep work; disable all alerts; work in focused blocks of time; stick with one business model.
Example: If someone changes their business model every month, they will never build any momentum.
Focusing will create results.
7: No true intent; most treat their online business as a “hobby”.
Hobbyists will work when they feel like it, do not plan, and do not measure their results.
Solution: Treat your online business professionally; set weekly goals, track metrics, plan content, review your results, and continually improve your systems.
Track: Traffic, sales, emails, engagement, and conversions.
Example: Successful bloggers act as a CEO, not as a person with no reason for blogging. If you create a serious effort, you will create a serious income.
To be successful online there is a 7-step framework you should be using:
(1) Learn before you earn
(2) Consistency is critical
(3) Promote your work
(4) Have patience
(5) Build your skills
(6) Focus on deep work
(7) Track everything
Golden Rule
The golden rule is that success on the Internet comes from being persistent, not being smart.
You can learn more from our blog post below
– How to Stay Consistent in an Online Business
– Can You Really Make Money Online? Truth vs Lies
– Best Online Business Ideas for Beginners
– How Long Does it Take to Make Money Online?
(Frequently Asked Questions) FAQ
Why is the average person unsuccessful with an Internet based business?
Most people fail in a home business because they want instant results, are not persistent, avoid marketing and give up when they are not seeing their business grow.
Does everyone succeed at building an internet business?
Yes! Everyone can build a successful internet business as long they have the necessary skills, are able to be patient and are consistent with their efforts over time.
How long does it take to build a successful internet business?
Typically, it will take between six to twelve months to achieve permanent success; however, there are also other factors like effort and strategies you use will play in how long it takes to build an online business.
Do you need to be talented?
No, you don’t necessarily have to have talent; it’s much more important that you have persistence and learning.
What are the biggest mistakes a new person can make?
The number one mistake people make is to quit too soon and pursue shortcuts instead of developing legitimate systems.
(Bottom Line) It’s not that online success is too challenging; people fail to become successful online because they stopped too soon, focused on the wrong things and/or won’t do the hard work necessary for success.
If you plan to be successful then you should develop the following:
– Be patient
– Be consistent
– Learn how to market
– Develop systems
– Stay focused
– Treat your business like it’s a business
It’s going to take time and hard work (each day, for an extended period of time) to achieve success online; so, start taking action today, improve tomorrow and outlast those who quit.
The internet is full of successful people, so if you never stop building your Internet business then you will become one as well.
