5 Primary Reasons For Business Failure Online

This post was written by Internet Marketing John on July 5, 2009
Posted Under: Home Based Internet Business

There are 5 primary reasons for business failure online, that are preventable with a little foresight and planning.

1 – Information Overload.

The computer is a wonderful invention that allows us easy accesses to billions of bytes of information of all types. Unfortunately, having too much information available to us causes confusion, and is one of the 5 primary reasons why people fail with their online businesses.

Having too much information, is just as detrimental as not having enough information.

When you are faced with too many options, you get overloaded, and become confused not knowing where to start. This is a roadblock to any start up business, especially if you are a newcomer online.

2 – No Cohesive Plan To Follow

Another of the 5 primary reasons for failure, is the fact that many people start their businesses with absolutely no game plan or specific goal in mind.

If you start a business haphazardly, without a specific step by step blueprint to follow, your odds for failure dramatically increase.

Take time from the start to lay out an organized “step” plan, and then follow the plan, one “step at a time” until completion. Don’t move on until the step you are working on is completed.

3 – Selecting The Wrong Niche Market

Poor market research is another of the 5 primary reasons for failure that can easily be avoided.

People often just jump into a market that they believe will make them some money, without any regard to the amount of competition, or profitability, of their chosen market.

Improper research, or not using the tools and resources that are available to perform the tests to properly evaluate a niche market, is another primary reason for failure.

4 – Technical Ability

Many people start their online businesses on a shoestring budget, and try to do create their own websites, FTP, e-books, etc. without having the technical ability to do so.

They simply cannot handle the technical elements that are needed to run their business.

Some are able to handle these elements, but spend too much of their valuable time learning how to do this, instead of marketing their business.

Not being able to master the technical elements of an online business, is another of the 5 primary reasons for business failure, that can easily be remedied by outsourcing.

5 – NO Help

Of the 5 primary reasons for business falilure, the MAIN reason, is that they proceed on their own without any guidance.

It doesn’t matter much information you have under your belt, you still need somebody to work with, and turn to, when you have questions, or run into trouble.

Not having at least one other person to act as a sounding board for ideas, questions, or other problems that arise in a business, is the most important of the 5 primary reasons for business failure. Everyone needs help and support at some time or another. Get Help!