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Why is my business failing? This is a question many entrepreneurs, online and off, have asked themselves over and over. Some would like to place the blame on external sources, but most of the time the biggest problems lie within themselves. Being an online entrepreneur is not an easy task and takes a lot of learning and implementation if you want to get it right.
Although it has been known to happen on occasion, success usually does not come after one or two attempts. This article will explain in brief, 21 reasons why most online entrepreneurs are failing in their businesses right now. Hopefully, by recognizing some of these traits within yourself and changing them, you will soon see improvements in your online efforts.
1. Lack of Confidence
Unfortunately, one of the first issues that affects many entrepreneurs is lack of confidence. It’s one thing for a person to say “verbally” that they want to accomplish something, but often times they don’t really believe they can do it.
We have been conditioned to complete a certain level of education, go to work, and then just let everything happen as it happens. When the thought of going beyond what’s normal enters into our hearts, we immediately feel that we can’t do it.
This doesn’t mean that we will not try… On the contrary, many people try to accomplish things that they feel they will never be able to do. Even if they start to see favorable results, their lack of confidence kicks in and tells them they can’t do it.
2. Lack of Persistence
Succeeding in anything requires that we are persistent in our pursuit of that thing. Although this article is focusing on online entrepreneurship, this applies to all aspects of our lives.
Online marketers have to accept that they are in it for the long haul, which means they have to keep pushing forward until they reach their goals. Starting and stopping is not acceptable, as it reduces your morale and stalls your progress.
If your goal is to succeed, you have to continue learning and implementing and eventually you will start to see improvements.
Pessimism is a double-edged sword. Dan Pena, a well-known entrepreneur often says, “If you show me your friends, I’ll show you your future!” There are many lessons to take from this quote and one of them is that negative people spread their negativity to you. This is what I like to refer to as “Indirect Pessimism”.
Direct pessimism would be when you are the pessimist. If you always see the bad side of things… “I can’t do this” or “I’ll never be good at this… etc.”, then you are placing your self in a position of inevitable failure.
Winston Churchill was quoted as saying, “The pessimist sees difficulty in every opportunity. The optimist sees opportunity in every difficulty.”
4. Insanity (Not Your Typical Insanity)
If you find yourself doing the same thing again and again with hopes of getting different results, you fall into Einstein’s classification of insanity.
This doesn’t necessarily mean that your goal is flawed. On the contrary, you may be using the wrong methods to achieve it, which results in consistent failures that you will never fix. try looking at successful people in your field and do what they did to gain success. Technology and all these social platforms we are privy to make it virtually impossible not to learn the proper methods for doing almost anything.
5. Lack of Focus
Have you ever seen a child trying to sit through a mathematics course? They would rather pay attention to anything else that’s going on “in the world” other than focusing on how to get the right answer to said equation. This is how many marketers approach their online businesses.
If you’re trying to learn how to build a sales funnel, then learn how to build a sales funnel. Blogging, Vlogging, Affiliate marketing and all that other stuff can be learned in turn. However, being able to focus on the thing you are learning at that specific point in time will allow you to only go through that learning phase one time.
It’s like reading a book while watching TV… Forget about it 🙂
6. Low Self-Esteem
Low self-esteem is negativity on steroids. We could try to say it’s the same, but it isn’t. The difference is that negativity can be on occasion, while low self-esteem is a mindset problem that has to be dealt with.
People with low-self esteem may see other people doing amazing things, but the feeling is always that they could “Never” do that. And that’s not true! If someone else can do it, then for sure you can, too…
7. Difficulty to Go Against The Grain
Doing something new and out of the ordinary tends to bring about the feeling of fear. It’s amazing how many people are actually afraid of success because it requires them to do a lot of abnormal things.
Imagine running a business as opposed to working as an employee in one. Just gives you the chills when you consider not having that paycheck to depend on every week, two weeks, or once a month. The funny thing is that you don’t actually have to quit your job before your business takes off, so why are you so afraid?
This goes back to the whole issue of thinking and doing something that is not common for the masses, therefore it seems dangerous… even when the outcome is beneficial.
Newsflash! If you want to have an online business, you will have to do a lot of things differently. That’s just how it is.
8. Lack of Planning
Planning is a crucial part of becoming successful. It doesn’t necessarily mean that you won’t be successful, but it can have an effect on just how much success you attain in the long run. Hence the phrase “Plan for Success”.
It’s not enough to know where you’re going… You also need to know how you’re going to get there. For example, if you know that everyday at 5 pm there is a traffic jam on the expressway that goes to your home, why not plan to take alternate streets to reach your destination faster?
This concept is congruent with the success of your business in that planning for your success will often times result in getting there faster and becoming more successful in the end.
9. Fear of Failure (Not Understanding the Success Process)
When people constantly allow themselves to worry about failing, they miss out on recognizing the path they should take to reach the final goal. When you embrace the process of doing something, there is no other outcome than progress and prosperity.
Instead of being afraid to fail, you have to learn that failing is just learning what mistakes to avoid in the future. Each time you make a mistake that doesn’t bring about the desired outcome, some necessary adjustments should be made in you marketing. As time passes, the success will come.
Therefore, if you look at failure as being a required phase of the process, there is no longer any reason to fear it. Just adapt, adjust and succeed.
Most people want results like yesterday. Impatience is possibly the biggest deterrent of new marketers becoming successful. Seeing so many “Gurus” showing off their riches to the new guys makes it seem like the process is extremely swift and the wealth is easily attainable for everyone.
When newbies do not find similar results to the experts, they become restless with the pursuit of financial independence quickly. As mentioned in the previous sections, making money online is a process and all processes have sequential steps that should be followed. This step-by-step process takes time. Some people wise up early and follow the process to the letter, resulting in high achievements within as little as a few months while others who do things differently may take years to notice the same benefits.
The point being the process takes some time, so try not to be impatient.
11. Unwillingness to Accept Blame
Have you ever met someone who never makes a mistake? At least when they tell the story, it’s always someone else’s fault that they are in a difficult situation. In online marketing, this behavior is detrimental to your overall progress.
If you make an error, the best thing to do is own up to it and keep moving in the direction of progress. This will help you to see the mistakes you may be making in order to correct them early and start profiting from your efforts as quickly as possible. As was mentioned before… mistakes, failures, or however you refer to them are part of the achievement process. The sooner you make them and correct them, the sooner you will be able to see your business in a better condition.
Whether you realize it or not, it is important to be humble in your entrepreneurial pursuit. If you knew everything, you would be an expert marketer already. Therefore, you have to be humble and take advice from those who know more than you.
Understand that being a beginner and learning something new means you have to take direction from those who know. It’s OK if you don’t have all the answers, and to tell you the truth… you shouldn’t.
Although I didn’t fill the page with more info on this point, it really is one of the more important issues on this list.
13. The Quitter’s Mentality
When newbies get extremely frustrated, one of the consequences is that they feel like quitting. It’s amazing how easy it is for someone to come up with so many excuses why they don’t have the ability to earn commissions online. When the Quitter’s Mentality creeps in, the excuses are not far behind.
Realize that when you start to accept the excuses that are coming into your mind, it’s only a phase. Everybody goes through it. Think about it… You’re probably learning and doing something totally new that you’ve never attempted before. This brings about strong emotions, anxiety, negativity and a boat load of other adverse feelings all bottled up together.
The good thing is that after you accomplish a few small milestones, these emotions quickly transform into positive feelings and then you won’t ever feel like quitting again.
14. Not Getting Social (Networking)
We live in a time when being social has never been easier. Even shy people can tweet, send messages on Messenger, or send an email. Gone are the days when every interaction had to be a face to face meeting.
Socializing with others is an important part of your business and you never know who you might be able to partner with in the future. Whether it’s a new marketer just like you, or a person who’s considered to be a Guru marketer, socializing is necessary to give your business a push in the right direction.
15. Inability to Remove Distractions
Technology is a necessary part of your online business. However, it becomes a distraction when you focus on every app and device in your possession when trying to carry out important tasks for your business. It’s your job to remove all those distractions when you’re working on your profit machine.
You will be surprised how much more you can get done when you don’t answer every text, chat, and phone call that comes across your smartphone. So, eliminate as many distractions as possible… it helps a lot!
One of the biggest tricks we play on ourselves is to postpone necessary tasks. Even if you know you “should” have time later, why not do what needs to be done right now? Most of the time later never comes and you find yourself stuck in the same place, days, months and sometimes even years later.
Procrastination is the enemy of progress. If you want something to get done in a timely fashion, then do it as soon as you can. Don’t wait!
17. Taking on Too Much at Once
Knowing what needs to be accomplished is one thing, but trying to do everything at the same time usually ends up as a big fat FAIL! Normally, when we attempt to do too many things at once, we accomplish nothing at all.
If you make a core plan of what you need to do, you will know which tasks are important at each phase. The result is that you will find that you only take on responsibilities that are required at those specific times. By doing this, you will never get overwhelmed.
18. Learning Too Much (Not Taking Action)
Learning is a critical part of internet marketing. Unfortunately, it’s very easy to become a serial learner and never see any results. This isn’t because the knowledge you’re gaining isn’t good, or that the strategies you’re learning don’t work. The problem is that you are stuck in a perpetual learning phase and you never take any action.
If you desire to have a flourishing online business, you will have to take action quickly. As soon as you learn something new, do it. This helps you to know what works and what doesn’t. It also moves you from the newbie marketer stage to the expert or qualified internet marketer.
19. Unrealistic Goals (Not What You Think)
When newbies are asked how much they want to earn monthly, the answer usually is $10,000 per month. This number is probably a lot easier to reach than you might realize. My question to you is… Why not push yourself to the limit?
Setting goals that will challenge you… like $50,000 a month will cause you to work harder and do a lot more for your business. And these are more “life changing” numbers that would have a better effect on the way you live later on down the line.
Another point is that if you can learn how to reach high profits in your business, then you have really learned your trade. At that point you can scale to whatever level you want.
20. Unwillingness to Spend
Your online business requires that you spend one of two things, and in actuality it’s better to spend them both. By now you should have guessed that we’re talking about your time, your money, or preferably both.
Newbies usually struggle with the idea of spending money on their business and rightfully so. It can be unnerving to spend your hard-earned cash on something that has never brought you any profit and maybe never will. For this reason some newbies are totally against spending money on their new business idea. On the other hand, many novice online entrepreneurs just don’t have the money to spend in the first place. In this case, spending money isn’t even an option.
The other technique is to spend your time building your business, finding every free option available to improve your online company. Although this is known to take more time on average, with patience and persistence it is possible to succeed using this methodology as well.
Spending time may require watching countless hours of YouTube videos that you have to sift through, as opposed to purchasing a course which will direct you in a well-prepared sequence. Likewise, all promotions will require (free) social media marketing tactics (which should be learned anyway) to get customers to your offers over time.
The advantage of using these free strategies is that usually once the traffic starts coming in, it doesn’t stop… while paid strategies cease as soon as the money runs out. That is why it is to your advantage to create a hybrid method allowing you to spend both your time and your money on your business.
21. Not Embracing the Process
Any business model you decide to follow, whether online or off, requires a process that should be followed. Reaching the set goals can be done using a variety of strategies and techniques, but you can’t get there without follow some kind of system.
By understanding and accepting the fact that this objective you are striving to achieve depends on a system and is highly unlikely to be accomplished without one, you should embrace it. This allows you to become patient and steadfast while pushing your business to the point of success and by persevering, your results should be nothing less than that… Success!
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