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Is starting a online business not really a good idea?

by wEo8456cAm
58 replies
So first of all I am a really hard worker when I really want something. That's not a problem here.

It's just there is a statistic out there that 90% percent of online startup businesses fail.

So most people are spending a lot of money buying courses and practicing but just can't get it to work.

To top if off a lot of the courses seem so easy to do. I could certainly see how learning it could pay off massively. But it just doesn't seem to be statistically possible for most.

I just thought that I would direct this question here and see if there is truth to it. Statistics are not always accurate

Sorry if this is a redundant question here. I did a search just could not find this exact question readily.
#business #good #idea #online #starting
  • Profile picture of the author Kay King
    90% is NOT a 'statistic' - it's a guess written by someone trying to prove a point.

    You'll also see 95% and 93% and 98%....all made up numbers.

    Is the failure rate high online? Sure is - but not surprising as so many new marketers seem to think an hour or two - or a week or two - of 'work' should yield a 'passive income'.

    Starting an online business is a great idea - if you are willing to LEARN and work. You have to take a chance here and there - make decisions - learn as you go (google search is your friend and YouTube a great instructor). You need realistic goals (and a goal is not "I want to earn $$$") - a plan and timeline (which can be changed as needed)....

    More than anything perhaps - you need the ability to decide WHAT sort of business to start online and then to FOCUS on that business and ignore shiny objects and 'make money fast/easy' products that take your attention away from your own plans.

    I suggest you read a few of the threads in the "Warrior Path" secction and also sign up for a new free course that features one of the more popular online businesses these days...
    .
    https://www.warriorforum.com/warrior...ecommerce.html

    Then read threads about affiliate marketing, creating products, site/blog building, etc to help you decide WHAT you want to do as an online business.
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  • Profile picture of the author OptedIn
    Originally Posted by wEo8456cAm View Post

    So first of all I am a really hard worker when I really want something. That's not a problem here.

    It's just there is a statistic out there that 90% percent of online startup businesses fail.

    So most people are spending a lot of money buying courses and practicing but just can't get it to work.

    To top if off a lot of the courses seem so easy to do. I could certainly see how learning it could pay off massively. But it just doesn't seem to be statistically possible for most.

    I just thought that I would direct this question here and see if there is truth to it. Statistics are not always accurate

    Sorry if this is a redundant question here. I did a search just could not find this exact question readily.
    That's because there is no 'exact' answer to this question. There are myriad reasons why people fail or succeed at anything they attempt in life.

    What does that have to do with you? Do you evaluate your life strictly by comparing it to the lives of others?

    Life is a crapshoot. You need to get in the game, give it your best and see what happens. You could become the next Jeff Bezos, but keep in mind that you could also wind-up in the gutter.

    The question you should ask yourself, is - "Do I have the ability to search for something that is relevant to my skills and interests and the self-confidence to apply myself to the best of my ability." Nothing else matters - nor does anyone else's success or failures.

    You're 90% figure is interesting. I'd bet that it's closer to 98%, but this is something that can never be quantified, regardless of the facts and figures that many of the gurus toss-out, especially when they are trying to sell you something that they say will get you in that 2%.

    Cheers.
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  • Profile picture of the author Eric Lovelace
    Hey There,

    It will come down to you choosing a business model that suits you, sticking with it, and testing a whole bunch until you hit home runs.

    Yes, there are going to be failures, shoot I still get nipped to this day, but I take it as a learning experience. Dust your pants off, and keep pushing.

    Hope this helps you.
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  • Profile picture of the author Rose Anderson
    Starting an internet business doesn't require a large investment of money which means many people dive in without a plan.

    All they know is they want to...

    Start making money in the first month.

    Not have to learn any skills.

    Not have to invest much time.

    Make 6 figures the first year.

    When it doesn't work out like they thought it would they quit or start a different business model.

    This does create a high failure rate. You can use whatever made up stats you want.

    Being an entrepreneur has always involved a willingness to take risks, constant action, and the ability to figure some things out on your own.

    People who need guarantees and step by step plans are much better off as employees.

    Learn skills or create a product that a specific target market needs or wants. Then go to where that target market is and explain why you are the answer to their problems.

    Rose
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  • Profile picture of the author ryanbiddulph
    It's just there is a statistic out there that 90% percent of online startup businesses fail.

    My take W? Do not live by statistics, or you become a statistic LOL!

    What does your heart tell you? Follow your passion, link it to solving a problem, and if you clear all doubts around starting an online business - or most - then dive in, and start buddy.

    Every venture in life can be viewed as being a good or bad idea. All depends on your passion, persistence, willingness to learn and practice, and your openness.

    I personally think you are up for it....do you agree?

    Ryan

    Ryan
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    • Profile picture of the author wEo8456cAm
      Am I up for it? You know I really can't figure that out. I don't know why. I just don't have time for failure or time to waste. I am looking for certainty.

      Although there is some passion for it. I don't have a passion for everything.

      Honestly I have thought of it a couple times already. I still have not tried.
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      • Profile picture of the author OptedIn
        Originally Posted by wEo8456cAm View Post

        I am looking for certainty.
        One word: Hemlock!
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      • Profile picture of the author Copylifemike
        Name one business owner no matter what the model who HASN'T failed....

        AND failed over and over and over before hitting success..

        Common reasons why most fail internet opportunities..

        - Learning from the wrong people
        - Leading with the desire to make money and money only.
        - Not listening to directions from good sources who know what the hell they're talking about (implementing).
        - No business plan.
        - Focus either last or not at all on HOW TO RUN A BUSINESS.
        - Making little effort and having every excuse why they are not getting success.

        Ask 10 newbies how many people did they speak to about their business today, this week, this month and get ready to be shocked at the answer.

        Other reasons. . .

        - Fear
        - Analysis paralysis
        - Stuck in preparation mode

        The list goes on.

        Look - you have a bug in you that wants this.

        I'm 35 years old. I've been searching for nearly a decade on what type of business I want etc..

        I have just begun and not going to quit no matter what.

        Doesn't matter how many times I might fail.

        Success doesn't reward those who are afraid to fail.

        Never in a million years will that happen.

        Do you have time to stay stuck where you're at?

        Do you have time to remain unhappy or unfulfilled?

        Do you have time to be the same person you were yesterday or today?

        No excuses. No fear.

        Make a decision and take action.

        Look - My pathway is not perfect, but I'm willing to take action and figure it out later. Most people getting involved who are serious do the same.

        Nothing is perfect and never will be perfect. There's no perfect time for anything.

        It's start right now and figure it out as it comes.

        Your number 1 regret will be quitting before you even give yourself a chance to start.

        Don't feed in to it. You will still feel the same as you do today 5 years from now, 8 years from now, 12 years from now.

        Take a chance. Life is too short.

        No matter what age you are, you have time if you want it bad enough.

        Are you sick and tired of being sick and tired yet?

        Invite and embrace failure. Why?

        Because it is the best teacher you will ever have.

        Good luck.
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        • Profile picture of the author SARubin
          Originally Posted by Copylifemike View Post

          Name one business owner no matter what the model who HASN'T failed....

          AND failed over and over and over before hitting success..
          I've never failed at anything in my life, Mike...

          Sure, there have been many times when I've gotten results that I didn't plan on (or didn't want) But I always seem to succeed in getting some type of results from my actions.

          And even if the results are just a lesson on what NOT to do next time... I still don't consider it a "failure" ... just the price of education

          (Hmmm, maybe I just don't like the word "failure" - because it sounds like the opposite of success?)
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          • Profile picture of the author OptedIn
            Originally Posted by SARubin View Post

            because it sounds like the opposite of success?)
            There's a very good reason for that. Check your dictionary. The real one - not the one in your mind. :-)
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            • Profile picture of the author SARubin
              Originally Posted by OptedIn View Post

              There's a very good reason for that. Check your dictionary. The real one - not the one in your mind. :-)

              But the one in my mind is in full color (and the other one is just boring)
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          • Profile picture of the author Copylifemike
            I would agree with your last statement lol.

            Failure or failing has many meanings.

            Including becoming of poor quality or behaving in a way contrary to expectations.

            There's different degrees of failures just like how we decide to measure success.

            Bottom line - if I did not meet or fell short of expectations to an end goal, that to me is failure.

            Failure doesn't have to been seen as defeat.

            It simply means you did not deliver on something you set out to do, so now you need to figure out why and implement the lessons learned.

            Example - if you study for an exam and know the material inside and out...

            You passed mock exams and knew you could crush it!

            Well - the end result was a grade received where you didn't pass..

            That means what? You failed.. you did not meet the expectation even though you passed time and time again in preparation.

            Something caused you to fall short.

            Everyone fails in life.

            Otherwise achieving success would be easy and through perfection.

            I do believe that looking at failing as a lesson learned instead of a failure is a great way to keep pushing forward.

            It doesn't catch you in self defeat and negative thoughts.
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            • Profile picture of the author OptedIn
              Originally Posted by Copylifemike View Post

              I would agree with your last statement lol.

              Failure or failing has many meanings.

              Including becoming of poor quality or behaving in a way contrary to expectations.

              There's different degrees of failures just like how we decide to measure success.

              Bottom line - if I did not meet or fell short of expectations to an end goal, that to me is failure.

              Failure doesn't have to been seen as defeat.

              It simply means you did not deliver on something you set out to do, so now you need to figure out why and implement the lessons learned.

              Example - if you study for an exam and know the material inside and out...

              You passed mock exams and knew you could crush it!

              Well - the end result was a grade received where you didn't pass..

              That means what? You failed.. you did not meet the expectation even though you passed time and time again in preparation.

              Something caused you to fall short.

              Everyone fails in life.

              Otherwise achieving success would be easy and through perfection.

              I do believe that looking at failing as a lesson learned instead of a failure is a great way to keep pushing forward.

              It doesn't catch you in self defeat and negative thoughts.
              No. this is the problem. The word has one meaning. What has variation, is how you personally choose to interpret the word. The spin you want to give it. It can't be gussied-up. It is what it is. It's precisely what the dictionary says it is - not how one interprets it.

              Failure, regardless of how much knowledge you derive from that experience, is still failure. Nothing wrong with failing. In one way or another I do that on a daily basis and have for most of my life. Who among us, that's honest with themselves, wouldn't stipulate to the same? That doesn't make my life a failure. There are an an abundance of other reasons for one thinking that - should they choose to do so. lol Part of becoming successful is developing the fortitude to acknowledge failure and then move on from it. Couching it it semi-lofty, alternative meanings is nothing more than mental masturbation.

              Ask NASA if the Challenger launch was in some way, "less of a failure," because of all they learned from the tragic event. No! Utter, abject failure. This - in spite of the fact that learned a great deal from the incident.

              That was my only point. Well, that and also want to give a little jab to SARubin, because this is something that I see experienced copywriters do quite often. Unlike most of them that I have encountered, he has a good sense of humor and will engage on the topic, without getting ugly. It seems that he can teach me a thing or two. When I grow up, I want to be just like him. :-)
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        • Profile picture of the author golok
          Great reply bro.
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      • Profile picture of the author Mark Singletary
        Originally Posted by wEo8456cAm View Post

        Am I up for it? You know I really can't figure that out. I don't know why. I just don't have time for failure or time to waste. I am looking for certainty.
        If that is what you are looking for, you are already one of the 90/97/99% crowd. There are no guarantees in life except death.



        Honestly I have thought of it a couple times already. I still have not tried.
        Thinking never accomplished anything - doing does.

        Why not start slow? Get your basic housing, food, etc. taken care of and spend a couple hours a day trying? Who knows you may fail or you may win.

        But one thing is true (I lied - there is one more guarantee): if you don't try you will 100% fail at online business. Surefire way to fail is to never try.

        Don't believe half of those courses you are thinking sound reasonable. Do your research, get various viewpoints, don't invest what you can't afford to lose, and bust your tail doing it and you may have a chance.

        Mark
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  • Profile picture of the author Andrewsfm
    90% of people fail because they join a business etc and then do nothing then quit.

    It's a business, not a get rich scheme so don't treat it like one and you will be successful. No one is successful over night, it took me well over 5 years, so now I teach all my students the right way to save them the years! But I only help people who have the requirements, prepared to invest etc.
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    • Profile picture of the author wEo8456cAm
      I don't expect a six figure income. It would be nice. I just want to be my own boss. But I do have requirements. I must meet the basic requirements. I must be able to pay for dental work, medical, and rent and food. Thank you.
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      • Profile picture of the author OptedIn
        Originally Posted by wEo8456cAm View Post

        I don't expect a six figure income. It would be nice. I just want to be my own boss. But I do have requirements. I must meet the basic requirements. I must be able to pay for dental work, medical, and rent and food. Thank you.
        Honestly, I don't think you're ready to take this plunge. You should have 6 months of savings to cover life's necessities while you get up to speed, and a plan of what you are going to do next if you've not had any success at all during that time. The more money you have saved, the longer you can stick it out.

        On the other hand, if you enjoy living dangerously, you can jump right in.

        Get your head screwed on straight and your life in order, unless you want to do damage that might take years to recover from. IM isn't going anywhere. It will be there when the time is right.
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      • Profile picture of the author Copylifemike
        I'd like to share some food for thought based on your statement here..

        You don't expect a six figure income...

        If you were a business owner right now, what would you expect?

        Gross income-
        $50,000?
        $60,000?
        $70,000?

        As an entrepreneur, in order to live comfortably, pay your taxes, pay for medical to take care of your family each month, how much do you think you'd be able to live off of with any of the amounts above?

        Let's say your medical costs come out to $5,600 a year, that's $450 per month to cover you family...

        Take out taxes anywhere between $8,500 - 12,000 or so at the end of the year to pay good ol' Uncle Sam.

        If you make gross income of a desirable $60,000 - your income to actually live is now $42,400 if we stick with higher numbers.

        Is that enough to live and take care of a full family in today's world?

        What about money to put away for the kids college fund or investments, or vacations, things you want to do because well....

        You're now a hard working business owner...

        Get my drift?

        Minimal you NEED to expect yourself to make six figures. That should be a given!

        In this country, majority of people will never see retirement money to fully take care of them, no social security, nothing that your mommy and daddy sold you on when they were younger.

        This is a new world.

        Household debt is at an all time high. There's not one family in America or one college student that isn't in an incredible amount of debt.

        Debt that will probably never fully be paid off before they leave this earth.

        And when you're gone, your debt doesn't disappear - your children inherit that debt.

        So WHY do you want to be a business owner???

        Are you looking for wealth or do you think that a gross income of $60,000 is really going to create an amazing lifestyle outside the setting of a J.O.B??

        Why take on more stress, have to work 10X as hard, everything relies on YOU if you don't at the very least expect yourself to EARN a six figure income??

        Do you realize that even $200,000 per year is STILL not enough to consider being set for life?

        Take 1 million dollars - (and I got this example from Grant Cardone btw, ******* brilliant!)

        That's $1,000,000.

        Let's say you live off of that salary paying $4,000 per month to take care of your lifestyle.

        Do you realize in 25 years at that rate you'd be dead broke? Now 25 years might seem like a long time, but ask yourself - can you really live off $4,000 per month?

        I'm talking family, kids, all the expenses tied to that, shopping for food each month, car insurance, mortgage payments, any debt you owe, phone bill, electric, taxes, etc...

        Most middle class families are starving off of $4,000 per month or less!!

        That's roughly $25 per hour!

        As a business owner would you pay yourself $25 per hour? Even if you had the steady work to make $1,000 per week; $4,000 per month over the course of 25 years is $1,000,000.

        What 3 areas are you currently struggling with financially NOW in your life?

        Without having the minimal goal to grow yourself to a six figure income - how the hell would being a business owner FIX that for you?

        You have some deeper searching within you to figure out in order to answer your initial question.

        Stop looking for failure statistics.

        Bottom line is this - If you're not living up to your full potential and you're struggling to survive, to take care of your family or put your lifestyle in a much better, more secure state - GUESS WHAT?

        YOU FAILED.

        If you continue to stay broke, you failed.
        If you continue talking yourself out of trying, you failed.
        If you continue to lay your head down at night knowing you did nothing better than the day before, you failed.

        How many failures can you check off right now? Does it match the 98% failure rates of those who actually try??

        Aside from talking yourself out of what you want, what have you done recently to help better yourself?

        Don't make excuses. Create solutions.

        You can start part time, work your full time job, be a full time husband (if you're married), be a full time parent (if you have kids) and make shit work.

        What do you enjoy doing?
        What do you love to talk about?
        What are some of your best skills?

        How can you use that to provide value, solve other peoples problems, and run a business?

        Look your children in the face and ask yourself in your head, how the **** can I be better for them, for my family, for myself?

        Look, if you can't see yourself deserving a six figure income, then forget being a business owner period.

        People do not own businesses to make $60,000 and say OK I'm successful, I feel good where I'm at.

        Business owners are always looking to GROW. Expansion is the key.

        If your business is not expanding, you're dying.

        Right now, this is what I want you to do.

        Make a list of all your failures - don't think about it. Get a blank paper and start writing them down.

        Make a list of all your best skills.

        List what you enjoy doing or talking about. What are the things your friends and family wish you'd just shut up once you start rambling about it.

        How can you take those things and work it in to a business?

        Research for SOLUTIONS not negative feedback.

        I know deep down you want this. You need to get raw with yourself and dig deep to WHY you want this.

        Make it your mission in life to be better, attack opportunity without fear, and just keep pushing past adversity.

        You can do this!

        You have more than enough suggestions, help, and feedback.

        It all is up to you now.

        Decision time... Either keep on the same path you are on now or take a leap of faith and bet on yourself.

        Good luck.

        Mike

        P.S. - If you can look your children (if of course you have little ones) in the face and with absolute conviction know that you would never fail them, use that as your lifeline to success in starting and running your own business.

        P.P.S. - If you don't have kids, look yourself in the face. Are you willing to let yourself down one more time and say "I'm a failure and I allow it"?
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  • Profile picture of the author Branding consultant
    WIthout a proper idea every business is going to unsuccessful.
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  • Profile picture of the author tagiscom
    Originally Posted by wEo8456cAm View Post

    So first of all I am a really hard worker when I really want something. That's not a problem here.

    It's just there is a statistic out there that 90% percent of online startup businesses fail.

    So most people are spending a lot of money buying courses and practicing but just can't get it to work.

    To top if off a lot of the courses seem so easy to do. I could certainly see how learning it could pay off massively. But it just doesn't seem to be statistically possible for most.

    I just thought that I would direct this question here and see if there is truth to it. Statistics are not always accurate

    Sorry if this is a redundant question here. I did a search just could not find this exact question readily.
    Originally Posted by wEo8456cAm View Post

    Am I up for it? You know I really can't figure that out. I don't know why. I just don't have time for failure or time to waste. I am looking for certainty.

    Although there is some passion for it. I don't have a passion for everything.

    Honestly I have thought of it a couple times already. I still have not tried.
    There is no certainly in anything online, l know l spent up to 6 weeks developing a business plan, with profit/loss budgets, tax law requirements, blah, blah, and based on past sales, and a year of hard work later failed, (well, it is still making $100 a month).

    And the numbers, l tend to go with 97% failure rate, eventhough unprovable.

    But going by my first website company, they had a 13% success rate, or that percentage made a few hundred a month from one of their sites.

    Or a 87% failure rate.

    Or on the stockmarket it is around the 95% failure rate, only because these individuals don't do any homework, and just signup online and throw money at it, (in a nutshell).

    And the person l follow has had one big loss this week, but is also quickly making it back, as well as being way ahead.

    If you try Fiverr you will most likely be working hard for little, Graphicriver, working hard for a good 10 years, Themeforest, (software) maybe less, and so forth.

    All involve hard work, and some speculation, which is the reason l am staying with stocks. Well sure, hard work, and speculation is still involved, but it is a bit like driving a mini till you are an expert at it, then upgrading to a Ferrari, the moves are similar but one can do a lot better.

    The person l am with shares his information freely, although you have to pay in order to get one on one help and see him trade in real time.

    And l see plenty of people blowing money on their private forum, some quite a lot, and others making a lot, but as usual the top performers, tend to do things slightly differently to most.

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  • Profile picture of the author Copylifemike
    OP -

    You also realize that IM isn't the be all venture opportunity out there using your laptop or computer right?

    You seem like a very analytical guy. Your personality is basing things off of facts and statistics- hard proof in front of you, data...

    Why don't you learn something like SEO and become a website consultant that assists companies in upping their game to get their website SEO optimal for better results on Google?

    For example of similar skills..

    There's a woman (can't remember her name right now) who is a website copywriter with a specialty in About Pages.

    She charges $1200 and up for this service.

    Do you know how many website on the internet truly MISS the mark of what an About Me page consists of?

    And it might seem easy to write, even for a copywriter, but there's really much more to writing one that is effective not just to the reader, but optimal with SEO as well.

    About pages are the 2nd most visited page on anyone's website.

    People tend to visit the About page just as frequent as the homepage.

    That is a huge opportunity to make serious money after you build your foundation of skill.

    Start part time.

    Look right now I'm building my business part time.

    Hey I got bills to pay, and I'm not that less than 3% who's going to jump off a cliff to quit my job and cut off my income to take huge chances.

    Doesn't mean I don't believe in myself, my work or my skill.

    Some people have that knack in them to do that and they make it work, but that road is full of grind and hard times also.

    Your mindset needs to change first though.

    The negativity of what you've read or observed has cluttered your logical thought process.

    Leave that shit behind.

    I bet you right now you can easily write down 10 things that make you miserable daily that you wish to change.

    Do it and stare at the list.

    Is that going to dictate and control your future?

    Or are you going to put on your big boy pants and bet on yourself for once?

    Can a person really lose betting on themself when their heart is in the right place and they're fighting to make the changes they need?

    As long as you don't quit no matter what, that's the only bet that is a guaranteed win.

    Little by little.

    Start part time after you dump the negative shit and figure out a direction.

    Then just take action steps and get moving.
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  • Profile picture of the author kursat
    Just like any other business, you need to spend time and be ready for disappointments. But when the time is ready and you learn the business, there is no better way of making money than having an online business...
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  • Profile picture of the author Rose Anderson
    I said above that being an entrepreneur requires risk. Always has, always will.

    But when you say you're looking for certainty then I have to add even a job is not certain in today's world. Businesses close, downsizing happens, and sometimes the bosses brother-in-law needs a job -- and he gets your's.

    As Mark said, the only thing certain is death.

    I would add that the only thing you can be certain about is - YOU. What are you going to do? How long are you going to stick with it before you quit? What skils are you willing to learn? What chances are you willing to take? How many hours are you willing to spend? How much money are you willing to invest?

    We can't answer those questions for you. And the answers to those questions will go a long way in determining your chances of success. Outside forces will come against you, that can't be avoided. But how well do you deal with difficult times? Do you analyze, switch directions, and forge ahead? Or do you quit because things aren't as easy as you hoped?

    Are you certain of YOU? If not, then no, you should not start an online business.

    Rose
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  • Profile picture of the author ashwinsd
    It depends on a lot of factors. If you have a strategic plan, then it's a great Idea. Reading books like Blue Ocean Strategy also helps.
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  • Profile picture of the author Kay King
    I just don't have time for failure or time to waste. I am looking for certainty.

    People will try - but there is no argument for that statement.


    No business startup is guaranteed - or without some risk. If you require a guarantee of a payday...get a job. The need for 'certainty' is something you have to resolve for yourself.


    You have as much time available to you as anyone else - whether you waste time or fail is up to you....that's the scary part.
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  • Profile picture of the author sebastya
    98% quit too early or just run out of money. If you can avoid both you will eventually succeed.
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    • Profile picture of the author OptedIn
      Originally Posted by sebastya View Post

      98% quit too early or just run out of money. If you can avoid both you will eventually succeed.
      You can invest years and thousands and still not make a dime. There's some here that have done just that, and freely admitted it. Stop selling the myth. It helps, no one!
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  • Profile picture of the author Joshfriend
    90% or whatever, what does it matter? some people still managed to succeed MASSIVELY! how & what they did should be your problem, not the numbers behind those who misplaced investments for want of knowledge.
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  • Profile picture of the author ashwindigitofy
    Rose Anderson 2 days ago
    Starting an internet business doesn't require a large investment of money which means many people dive in without a plan.

    All they know is they want to...

    Start making money in the first month on wards .

    because they need to Increase team members so deserving wages and profits are necessary.
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  • Profile picture of the author clareflemming
    Brilliant idea and this online world you have to need patience, hark working and a deep motivation.
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  • Profile picture of the author brettb
    Yeah it's probably a waste of time and it will prevent you from doing something more productive.


    Keep working at your career so your income is so great you can invest enough to retire by your mid-40's.
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  • Profile picture of the author patriciabrowns
    You know that slow and seedy wins the race. Hopefully you will be get success if you work hard and take it professionally. Thanks
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  • Profile picture of the author Jen Eick
    Well, I saw your recent post in the main forum, so it appears you may have already given up. I hope that's not the case. But just in case you're still reading the responses to your question here...

    There are ways to become successful in IM without the benefit of the Warrior Forum, of course. But you've just illustrated the main reason people don't make it with internet marketing.


    They give up too soon.


    Or they go in expecting to fail, as you have done. (What other profession would anyone enter, if they went in questioning their ability to be a success in the path they've chosen?)


    Another reason: People just want to enter the world of IM without any idea of what they're actually supposed to be doing.


    Despite wanting to sell, they are still too easily sold to, and can't make the transition from being a buyer to being a seller. (Full disclosure, this was me for the longest time; I was PT Barnum's inspiration for his "one born every minute" quote!)



    And the more they fail with no answers, the angrier they become at everyone else. Until the ones who remain buckle down with determination to unravel the code.


    The rest find out it's not "quick 'n easy," like they were promised, and don't want to invest actual time and effort, or even eventually admit that they're going to have to. So instead, they quit after a few days, weeks, months or even years, without realizing it boils down to understanding and developing an actual system that works -- and sticking with it until they see results.
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  • Profile picture of the author sunshinecashmachine49
    It's very clear that most people aren't even sure what an "online business" really is. There's so many different types of businesses one can get in to, and the truth is that you can fail very easily if you aren't so sure on what you are doing. There's countless and varying versions of what happens with different businesses online, and most only fail because they don't educate themselves on what their ideas/businesses entail.

    Blogging, freelancing, Fiverr, product creation, YouTube, Offline marketing etc.....There's many different online businesses to do. Every one has different varying levels of difficulty. It's all about finding what works for you and fits in your idea of what you enjoy doing.
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  • Profile picture of the author AgileWeavers
    Of course it's a good idea But you have to really work hard for it to succeed. Maybe you are just a bit overwhelmed with a lot of online courses you've been through.

    Start by sticking to a few ideas and try implementing them. Execute right away the moment you thought of a solution. Build up on small successes and keep doing it. Expand your knowledge and try bigger challenges.
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  • Profile picture of the author markmiller24x7
    Hi member!

    As you are asking that online business is a good option is not then you should first scale the returns you are expecting from your business & how much you are going to invest.
    Secondly, how your business is different from other competitors & what different services you are going to offer through your business is more important.
    lastly, you have to think that if your business starts generating income than you will outsource some task to other outsourcing companies or not.

    Thanks
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  • Profile picture of the author regervin
    When it comes to online businesses, it does seem that there are a lot of failures but there's a reason for that. The business owner has not vested him/herself in the process of learning what it takes to make a successful go. If you set the goal to make your business work, no matter what, you will probably find that you will succeed where others failed because they quit.
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  • Profile picture of the author dave_hermansen
    My take is that 90% might be a little high - at least for people who had some sort of decent direction. It's 80/20 rule stuff and I'd certainly believe that 80% fail. In any given "job" 20% of the people are truly successful at it and the other 80% either aren't or just go through the motions to get a paycheck.

    The good news is, the investment is pretty small when you compare it to what it costs to start a brick and mortar business. We toss up website after website after website and some do great, some do OK, and some don't do so well. We keep the great ones, sell the OK ones and dump the duds. There's a lot of experimentation in this game and I think too many people think that if their first attempt doesn't work out, nothing will work.

    More than anything, many (most?) people think there is some sort of instant way of making money online that doesn't require much work. It's like anything else. The people who succeed work their butts off, find solutions to problems and don't quit when obstacles are tossed into their paths. They figure out a way over, under, around or through those obstacles.

    When we talk to our most successful students, we find that most of them work 50-60-70 hours per week or more on their website businesses. Most of them love it, though, and say it doesn't seem like work at all. There are a ton of superior athletes out there who never make it in the pro leagues. Talk to most successful pros, and you'll find out that they have a level of commitment and work ethic that far exceeds many of the more talented athletes who failed.

    A thirst for knowledge is a big attribute of successful people. I've been making a good full time income with eCommerce for more than a decade and it is a very rare day that I do not learn at least one new thing that helps me do something better.
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  • Profile picture of the author rachel wilkinson
    Starting an online business is always a good idea and will always be good idea.Online business if assisted with good quality digital marketing done for it can get immense exposure and sales.
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    • Profile picture of the author OptedIn
      Originally Posted by rachel wilkinson View Post

      Starting an online business is always a good idea and will always be good idea.
      For some people, that may be true. For others, it could be a very bad idea.

      We are all built differently, have our own strength and weaknesses, as well as particular pursuits in life that will work best for us.

      The proof of this is that a vast majority (there is no accurate number to state, although upwards of 98% is often bandied about) of people that enter IM, fail, miserably. For them, it wasn't a very good idea,

      Stop selling the myth.
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  • Profile picture of the author DURABLEOILCOM
    People fail because they quit at the first sign of trouble. If you keep your full time job and start working on building up your online business at the same time chances are higher you will succeed. Working on a business without cash flow will cause immense stress, frustration and ultimately lead to failure. The rule is never quit your day job until your business is making more than your current income.
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  • Profile picture of the author reesedep2
    The hard part is to start your online business. do you know what you want? and finding the right people who tell you the truth when it comes to running a online business. It won't be easy you will fail but to keep going and learning that may be hard for some
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  • Profile picture of the author helisell
    Note to OP.

    If the Internet didn't exist [just like when I started my first business].....would you still be so keen to start a business?

    Or is it just that you've seen/heard of others making a living online and thought you would have ago?

    You see, before the internet, if you wanted to start a business......you just started a business. You didn't generally get suckered in to believing it was easy money, you started a business because you wanted to start a business and NOT because you'd heard it was going to be easy.

    Starting an online business is no different to starting any other business.

    If you started a business in the old days and you hadn't made it work after 3 or 4 months you would move on. Why then, do people think that its ok to keep at it for years without making any money.

    Get real people.
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    • Profile picture of the author OptedIn
      Originally Posted by helisell View Post

      Why then, do people think that its ok to keep at it for years without making any money.
      Haven't you heard? "Winners never quit and quitters never win." Looks great on a poster, but not so much as a belief to live your life by.

      Get real people.
      You'll never convince people of that. They'll cling to their fantasy until their dying breath.
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  • Profile picture of the author manolo2
    I agree that the online failure rate is high. But if you explore why I think a lot of it is because ppl are chasing this shiny object dream that dosen't exist.



    Most aren't really willing to put in a ton of hard work and focus and just stick with what they are taught till results start to come.



    The few that are start to see results. Unfortunately if ppl said you have to work hard online maybe for 2 years making very little money till you can replace your day job.....Most would run a mile


    But I still believe that you can succeed if you stay on track and stick to one method until you see results.


    Hope that helps
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  • Profile picture of the author ieater
    Starting an online business is one of the best things you can do.Your life will change massively after you create success with it.

    But of course with anything in life, it takes hard work and time to implement so you have to be patient.

    However the hard work will be more than worth it.

    Good luck
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  • Profile picture of the author ellastien
    Originally Posted by wEo8456cAm View Post

    So first of all I am a really hard worker when I really want something. That's not a problem here.

    It's just there is a statistic out there that 90% percent of online startup businesses fail.

    So most people are spending a lot of money buying courses and practicing but just can't get it to work.

    To top if off a lot of the courses seem so easy to do. I could certainly see how learning it could pay off massively. But it just doesn't seem to be statistically possible for most.

    I just thought that I would direct this question here and see if there is truth to it. Statistics are not always accurate

    Sorry if this is a redundant question here. I did a search just could not find this exact question readily.
    It's totally depends upon of you. If you work hard and do your job respectively then success will sure come.
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    • Profile picture of the author OptedIn
      Originally Posted by ellastien View Post

      It's totally depends upon of you. If you work hard and do your job respectively then you will increase your chances for success.
      Edited for common-sense observation. Stop selling the myth.
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  • Profile picture of the author Malteaser
    Well I have to agree on hustle being crucial for one to be successful, but it is also depends on mindset. I honestly feel the people who succeed over others are the ones with the tougher mindset. I have worked with people who were willing to take action, but they also played the victim of society cause they weren't getting results fast enough or they saw others get results before them or something happens that turns them into a whiner.

    It took me 14 months before I had my first 5 figure month, before that I had NOTHING... just some mediocre results! How I went from nothing to a 5 figure month suddenly was just a mindset shift. I stopped crying and saying I am not worthy of results, wore the leadership uniform, got as far out of my comfort zone as I could and BOOM!

    If you are designed for this you will make it happen, but you need to be willing to put skin into the game... work hard without results at first, lose money to gather data for what will work, build trust with people and do what others are not willing to do.

    Those stats are probably accurate because I know I had tons of people saying they wanted success, paid to get started etc and then they half ass it and expect to get results staying comfortable!

    There isn't a place for fear or comfort in our space... it's for people ready to give it more than what they have got

    Get ready for take off!
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    • Profile picture of the author tagiscom
      Originally Posted by Malteaser View Post

      Well I have to agree on hustle being crucial for one to be successful, but it is also depends on mindset. I honestly feel the people who succeed over others are the ones with the tougher mindset. I have worked with people who were willing to take action, but they also played the victim of society cause they weren't getting results fast enough or they saw others get results before them or something happens that turns them into a whiner.

      It took me 14 months before I had my first 5 figure month, before that I had NOTHING... just some mediocre results! How I went from nothing to a 5 figure month suddenly was just a mindset shift. I stopped crying and saying I am not worthy of results, wore the leadership uniform, got as far out of my comfort zone as I could and BOOM!

      If you are designed for this you will make it happen, but you need to be willing to put skin into the game... work hard without results at first, lose money to gather data for what will work, build trust with people and do what others are not willing to do.

      Those stats are probably accurate because I know I had tons of people saying they wanted success, paid to get started etc and then they half ass it and expect to get results staying comfortable!

      There isn't a place for fear or comfort in our space... it's for people ready to give it more than what they have got

      Get ready for take off!
      14!!!! Lucky duck, took me 10.5 years and sure l whined for some of those years, especially the few to get a big website up to $1.30 a month, and blowing money on supposedly hot lists, but that usually only made me work harder, while whining.

      I also belong to an investment forum, and some of the story's there, are at skin crawl levels.

      "We invested $250,000 and lost it" was the worst one, and "l lost 3k this week" another, but the 3k one should be recoverable the 250k one, l just shake my head thinking, Ma and Pa investors, straight off the gold watch and boot out the door, should not be allowed to put it all on Maceys, since the wife liked the store.

      Half ass it could just mean that they are into something that they are really not that into, and telling them that they have to ring people put them off permanently?

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  • Profile picture of the author markmiller24x7
    It depends on what sort of strategies you form to get the better results on your online business. Their are 2 different strategies that any businessman can follow. First is to do each & every task by himself & second is to outsource all non-core activities to someone who has willingness to do it for you.

    Outsourcing provides you ample amount of time to think about the future strategies of the business. So it will increase the profitability of your business & less riskier for success.
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  • Profile picture of the author Shkirr12
    The future is online business. i would say get started now.
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  • Profile picture of the author Renatas Budrys
    If your questioning these things you are definetely not ready to create a business and to be a entreprenuer
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  • Profile picture of the author mmlux
    One major reason it's so hard for newbies also to be successful is that almost all information they can find is too general, and not specific enough. If they could see others develop a successful business in real time it would be much easier.

    Like in most other areas in life, e.g. when you learn soccer, you play with other players to learn the game like they play it. You don't have to sit at home and just read instructions.

    And in a forum like this, if those who have experience and are successful, would share exactly what they are doing, what their websites are and details of their projects etc. would be helpful.

    It's also hard to find a viable business via the WSOs because the sales pages consist to a large extent, if not mostly, of persuasion tactics and volumes of imaginary benefits, which are often exaggerated, and therefore misleading, instead of neutrally and accurately describing exactly what the courses are about.

    So, we could say, with higher quality information, and ability to work with others, who already are successful, it would be more realistic for newbies to be successful as well.
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  • Profile picture of the author ribrah2018
    An online business is a business. If you choose the right business model and the right strategy, it should work out.
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  • Profile picture of the author Face Cap
    I used to think this way before . I almost concluded that it not possible to make money online.
    Several years I have been trial and error. Until I realized that what kills my dream was lack of consistency ,lack of foresight, quick rich mentality and blogging not for passion.

    Every online business I tried failed while others succeeded on same business.it was then I concluded that what set me back is the above mentioned.
    Today ,I am comfortably earning and still putting more effort to keep it flows.

    This things is mindset and determination
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  • Profile picture of the author Discover Ecommerce
    It really doesn't matter what business someone starts, because 99% of all businesses will fail.

    Most of this percentage is made of business owners not putting in the effort to get the business up and running.

    We are all born the same, so what makes successful business owners successful?

    They keep learning, then keep changing what isn't working and they never give up.

    Business owners who fail, don't put the time in to learn, they keep repeating the same mistakes over and over again, and they almost always end up giving up.

    This is human nature. That statistic isn't just for online businesses it's for all businesses, it's for all athletes, it's for all book writers, it goes for everything.
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