The reasons business failures affect new online entrepreneurs is because you may fail to plan to overcome the odds to work in your favor.
How to overcome the odds?
Good question, but as usual there is always an answer. If I don’t have it, I’m sure someone else will. Just make sure to check for resources online where you trust the writer to give you the right advice.
The most commons ones are the one I’m writing about today. At least these are the ones that I am emailed about most, so based on my knowledge I will provide the best answers reasons why people fail.
Not Maintaining Authenticity and Transparency
Some people start focused more on the kind of income they will create, rather than what their customer base will require of them.
Businesses which don’t take into account the customer’s needs fail because they fail to build trust in their readers.
- Method on how to fix this:
What you need to do here is figure out how to focus on being authentic, transparent as well as finding ways where you can give more than what you will receive.
Be honest about your product/services without all the hype. Remember these people that are visiting your site were already attracted to what you had to say in your headline.
You don’t need to create all the drama around the product/service to make the sale.
The best thing you can do for your customers is to get the message across that you are the right expert that they need at this moment in their life.
If for some reason your writing about a topic that you know a lot about, but still want to provide information beyond your means, then don’t hesitate to refer your customers where they can get the information they may need.
Your customers will appreciate you for this; it shows that you’re not afraid to share resources/information which you have learned.
One thing I want to hone in on is to always engage with your customers through the comment sections. Most people are creatures of habit; they will always return to see what the response is.
A great way to learn about authentic and transparency is to get one of your close friends/family members to read what you’ve written to describe your business back to you in three words.
These three words will tell you how you are perceived. Get this done by someone who is especially close to you, as you know the ones close to us are the most critical.
By getting this information from someone close to you, you will know what you need to be worked on.
Unable to Connect With Target Audience
If you’re unable to connect with your target audience that means you are not only unaware of your potential reader’s means and wants, but you also don’t know the best way you can help them.
By being unaware in this way you will fail to invoke emotion or how your product/service is going to cover their pain point.
One of the best ways to fix this is by speaking to your readers directly. As you know third person writing is considered formal, when writing online you need to be as casual as possible. To the point like you are having a conversation with your reader.
By pulling in your readers into your conversation, you are creating an exceptionally well-balanced journey for both of you. When we have a conversation with each other it creates a sense of coziness hence the connection becomes stronger.
Emotions are fundamental when making a connection with someone online, knowing how to move a reader emotionally will get the relationship happening real fast. In this section of this article I’m showing you a way to connect with your readers online, my emotion right now is the need to connect with you.
Share your personal stories with your intended audience. I know I love reading stories about others online, I’m pretty sure there are others who will enjoy reading your stories.
As the saying goes,” all of us have a story to tell.” Share your story, draw your readers in, give them a reason why you resonate with them.
Unable to be a Present Business Owner
Like everyone else in the world, we all have the goal to beat the odds to overcome business failure.
Many people when they start a business online, go under the concept that so and so became a success online, so can I. You might look at so-called overnight success (there no such thing) with your focus being I can do that too.
By failing to understand that it takes patience for a business to succeed you might lead yourself into false expectations which can lead you from being a present business owner to a former business owner.
First of all, you have to realize there are millions of entrepreneurs who will not make it to their second anniversary. You might be one of them, on the other hand knowing that the online culture is built on innovation as well as independence you could be the one that lasts.
To last as well be present as a business owner online, you need to plan ahead. By planning you could be prepared for all the reasons that you might fail.
Too many times we as business owners can become overconfident that nothing will get in the way of our success, but life happens.
So be prepared for it!
Don’t lead yourself blindly into a new venture online, start at the lowest level possible to build your way up. This level is going to be where you are the least amount financially invested. Test out your business plan, if it doesn’t work start again.
Avoid becoming a former business owner, stay as a present business owner by slowly inching into business ownership leading to growth.
Going Big When There is No Reason To
There are a lot of us who start an online business thinking we can cover everything. Unfortunately, it doesn’t work like that.
Trying to cover everything leaves room open for failure because our expertise is spread too thin. You will fail if you try to be an expert on everything which may not even pertain to what you are trying to promote on your site.
Stay within the realm of your online business. By providing information on everything that’s related to what you are doing online, you’re not only providing an excellent service, but you’re also becoming known as an expert on your topic.
Many times people will try to be an expert on a topic they know nothing about. Unfortunately, they come across as foolish to their readers. This can lead the reader to feel silly at ever having read what they have to say.
If a reader leaves your site feeling foolish, I guarantee you they will not be returning.
Your journey to becoming an expert is that you have to become a learner first while moving naturally through the stages of learning. It’s the very stages of knowledge which will create you into a master teacher.
You don’t have to cover everything to be successful, stick to what you know, but never stop learning.
Who knows one day you may encompass all to become a true master of everything.
What will you do now to overcome the odds of reasons business failures happen, please leave in comments below.