Does Anyone Know the Percentage Of People Who Actually Money Online Out Of Those Who Try?

Profile picture of the author BJ Min by BJ Min Posted: 06/04/2009
Hi,

i heard in BRICK AND MORTAR (offline) type of businesses,
only 90% fail...

what about for the online business? is it most likely
that 90% fail as well?

BJ
#money #online #people #percentage

  • Profile picture of the author Nigel Greaves
    Nigel Greaves
    I think that the 90% failure rate of new businesses in their first 5 years actually includes those that cease trading because self employment doesn't suit them.

    Trying to get accurate statistics on anything like this is always tricky and quite honestly a waste of time. Did you have a particular need to know or were you just curious?

    Nigel
  • Profile picture of the author Kevin Riley
    Kevin Riley
    Unfortunately, IMO it is higher online. No good reason for it, as it is much, much easier to build a business online.

    However, because the entry barrier is so low, so many "try" to make it online. Since they faff about and don't consider building a real business - just keep chasing the latest goose that lays gold eggs - the failure rate is high. It's all about mindset, consistency, and persistence.
  • Profile picture of the author TLTheLiberator
    TLTheLiberator
    It's quite high because most of the failures are people that somehow get into the recruiting people model such as mlm and all it's sisters.

    They may jump around from program to program for about a year tops and then quit in disgust - believing online business is a scam.

    Most can not/will not move on to real online business models and some even believe mlm and selling how to make money stuff is all there is to online business.

    It's a dirty rotten shame.

    MLM etc., is the primary reason the rate is so high.

    TL
  • Profile picture of the author Preben Frenning
    Preben Frenning
    I would say the reason is WAY too much hype online.
    People have sky-high expectations, buy into hype, and fails of course.

    I have been there, yet never given up.

    But I really enjoy selling offline as well. Then you know IMMEDIATELY when you make a sale, how you did it, and why.

    So guess what? - I'm starting to sell online services to both offline and online customers

    I love IM, and I love offline selling, so it's definately a good situation for me.

    As for failure offline, it depends on what you would call a failure.
    Statistics are based on 5 year periods I think, and if they are still in business, they will be considered a "success". (At least not a failure)

    I think it's 80-90% failure rate.

    The reason?

    1. It's "safer", since you know it can work, and how.
    2. It's not really safer, since you usually have much higher startup costs.
    3. People in general suck at doing market research, and have too high expectations to their business. /They are too optimistic without having any reasons at all to be so, because of lack of research.

    There's my few $$$
  • Profile picture of the author TelegramSam
    TelegramSam
    What do you mean by failure?

    Something not working out as planned, but carrying on with something else?

    Or

    Something not working out as planned and giving up all together?


    I have had many projects, sites, ideas and lots of other things "fail", but these "failures" helped me modify ideas, create new ones and get started on the next projects which can turn out to be winners.

    I believe you only fail for real, when you end up stopping completely what it is you were doing. Even then you can learn VERY valuable information you can use in the rest of your life.

    There is a well known saying along the lines of "Fail, but fail fast".

    In other words, learn from your mistakes and adjust your course accordingly. Eventually you will arrive at the destination you intended.

    The biggest REAL failures are those that don't even try.

    (As an aside, it is usually much less expensive to "fail" online than it is to fail offline).

    Why even worry about stupid statistical headlines like "90% of all businesses fail" etc..

    So frickin what!!!

    I don't know of any businesses that are still going today, that were started 3,000 years ago. So essentially that suggests that ALL businesses fail. What garbage...

    Don't be scared to try things out, be sensible with your money, work hard, test, test, test, learn from your mistakes, modify as needed and eventually you should do well.
  • Profile picture of the author ElliotK
    ElliotK
    Failure usually comes from lack of persistence, dedication, commitment, PASSION, and not identifying your "purpose". Sadly, these high failure numbers often occur on the 95 yard line. Remember that famous line, "80% of the job is just showing up."

    Fall down 6 times, get up 7. That's the secret imo. And remember, in most cases, there ain't no all of a suddens!
  • Profile picture of the author jobscreation
    jobscreation
    I agree there are way too much hype in the IM business. But even top affiliates have great hype in their sales pages. to prep the eyeballs to buy.
  • Profile picture of the author Adrian Cooper
    Adrian Cooper
    Originally Posted by BJ Min View Post

    Hi,

    i heard in BRICK AND MORTAR (offline) type of businesses,
    only 90% fail...

    what about for the online business? is it most likely
    that 90% fail as well?

    BJ
    I have created a run bricks and mortar businesses - $18M sales, 77 staff, and online businesses.

    The only way to succeed in the bricks and mortar world is to run an extremely efficient business. When you are working hard, 17 hours per day, 7 days per week to make 10% profit, it requires extreme ability, discipline and commitment to succeed. I created three bricks and mortar businesses.

    Internet Business is so easy by comparison that people can make fortunes without most of the abilities required for bricks and mortar business.

    The mindset of most Internet marketers is totally wrong, and in most cases will result in failure.

    The biggest mistake Internet Marketers make by far is treating customers as sources of cash instead of people and customers.

    The customer is always, always top priority - nothing else matters.

    If you look at the really successful Internet Marketers - Eben Pagan for example - they all put the customer first and over deliver. He, like myself, come from the bricks and mortar world and understands these crucial facts.
  • Profile picture of the author John Atkins
    John Atkins
    It is said that 90% of internet marketers fail to make a LIVING online...

    I'm NOT saying that 90% fail at making money online, I'm saying that 90% of them fail to make a substantial amount of income every year to live off of it.

    Some say that this is just a myth... I don't think so. I think it's completely true. The internet is FULL of HYPE & LIES and nothing is quite as easy as it seems.

    You have to be careful...

    A true internet marketer knows that making a living online is not easy at all. It will become easy eventually but it's difficult to start and that's a fact, especially if you find no help whatsoever...
  • Profile picture of the author Adrian Cooper
    Adrian Cooper
    Originally Posted by a-marketing View Post

    It is said that 90% of internet marketers fail to make a LIVING online...

    I'm NOT saying that 90% fail at making money online, I'm saying that 90% of them fail to make a substantial amount of income every year to live off of it.

    Some say that this is just a myth... I don't think so. I think it's completely true. The internet is FULL of HYPE & LIES and nothing is quite as easy as it seems.

    You have to be careful...

    A true internet marketer knows that making a living online is not easy at all. It will become easy eventually but it's difficult to start and that's a fact, especially if you find no help whatsoever...
    I would say that the 90% is true - possibly higher.

    It closely corresponds with stock market gambling where 93% fail and the other 7% profit.

    The reasons why also closely correspond.

    Anyone reading this can succeed on line as they can on the stock market, but
    both require the dedication, commitment and discipline that the majority are unwilling to provide - most are out to make a quick buck when there is no such thing.
  • Profile picture of the author Preben Frenning
    Preben Frenning
    There are no such things as "Easy cash". You need to be competent, and quite intelligent to be able to make "easy cash". And if you think enough about how to do it, I'm sure most people can make lots of easy cash.

    Take me for example, when my business launches it will be the easiest money I have ever made, BUT I have been planning it inside out for way over a month, analysing every single aspect of the process.

    @TelegramSam - I definately agree with you. True failure is giving up after a "small" failure. For me, I cannot fail. The reason? I consider projects that doesn't get profitable, to be education. If I work my a** of with a project, and it's not working out, I will have learned a lot for my next project.

    If you don't try, you have already failed.
    And like you said, why would you worry about statistics if you believe in yourself? And if you believe in yourself, you KNOW you will be one of those 10% who makes it.

    @Jobscreation - Of course top affiliates have hype in their salespages. Hype sells! And people who buy into hype, fail, and quit, are the majority of the 90% who fails.
    Many of them probably don't even have a website.

    If you start working on a project, and test every single aspect of it, you can't fail. Really.
    Track all advertising sources, ask customers why they chose to buy from you, find out where they came from, and what made them buy, and focus on everything that works.
    If you do that, and never give up, I would say you can't fail. Ever.

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