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Tuesday, June 28, 2005

10 Reasons Why an Online Business Fails

Surveys and statistics show that 95 - 98% of the business online fails. What is new? This figures is equally true to any other forms of business, offline or online. Here is a list of reasons, if not mistakes, you can avoid what most online business owners made when they first try marketing on the internet.

1. Being scammed.
It is easy to fail even before you start your business venture online; by being scammed by unscrupulous Internet experts, so called consultants, web business providers; who claims to get you started with no knowledge of your part and runs the business on auto pilot later with little effort.
Make sure you do, at least, a little homework and look and ask around for the best deal; if you intend to let them do the work for you.
So going for the free stuff or the lowest price is not always the best. Ask for references and samples if you are going to pay for their services.

2. Start from the basics.
Keep the business startup as simple as possible. Learn as you go along. The best business concept is always in the simplest form. As they say: “Kept It Simple Stupid”.

3. Choice of Product.
They used to say this:
Ask: “Can I sell the product?”,
Not the same as: “Can the product sell?”
But choosing an appropriate product can determine the success of your business.

4. Relevant Website.
Just because you have a fantastic website does not mean customers will start flocking to your doorsteps. If nobody knows about your website there wouldn’t be any sale.
Getting traffic to your website should be the top priority for your business online.

5. Professional Help.
Don’t try to do everything yourself. When in business of any nature, you need help from others, especially those that are professional to your line of business. Get relevant soft wares, hard wares and even skills and advices.

6. Don’t re-invent the wheel.
Especially if you are new to the internet business, follow what others are doing. Go with the flow and don’t try to change how online business works.

7. Interactivity.
Don’t ignore feedbacks received. If you ignore what customers say, you are sure to pay for this great mistake.

8. Security.
Don’t take security on the internet for granted. Guard yourself against fraud and install security measures.

9. Stay within the Law.
Respect the Law of the land, or the world at large. Breaching
Copyright, obscenity and even misleading advertisements can land your and your business in trouble.

Sending indiscriminating emails, advertisements are a nuisance everyone hates. This is the most unpopular mean of promotion. Anyway, it is the least effective also. Just Don’t Do It.

In conclusion, before you take the action to start an online business, be sure to take the necessary time to learn what internet offers, determine how you can best use it, and develop a detailed marketing plan, and conduct the necessary research for you to take a well organized approach to your overall marketing efforts.

About the Author:

This is E K Gann. My aim here is to work together and help others starting business online. Especially beginners who are facing problems and difficulties getting resources, and those in need for Personal Developnmen;in marketing, sales, self improvement, motivation and continue education.


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