3 Reasons Why Online Businesses Fail + How To Avoid Them!

Published on: December 4 2022 by Baddie In Business

3 Reasons Why Online Businesses Fail + How To Avoid Them!

3 Reasons Why Online Businesses Fail + How To Avoid Them!

3 Reasons Why Online Businesses Fail + How To Avoid Them!

startTime	durationTime	text
00:00:00	00:00:03	hey buddy full family my name is
00:00:01	00:00:05	isabella i'm the owner of two six figure
00:00:03	00:00:07	online businesses and today i'm gonna be
00:00:05	00:00:09	telling you guys the top three reasons
00:00:07	00:00:11	why i think online businesses fail so
00:00:09	00:00:12	you probably clicked on this video
00:00:11	00:00:14	because you are afraid of starting a
00:00:12	00:00:16	business and it failing you guys know
00:00:14	00:00:18	there's an extremely high statistik for
00:00:16	00:00:19	businesses failing and this is something
00:00:18	00:00:20	that people love to point out when you
00:00:19	00:00:22	tell them that you're first starting
00:00:20	00:00:24	your first online business some studies
00:00:22	00:00:26	show that 90 of online businesses fail
00:00:24	00:00:28	this statistik is probably so high
00:00:26	00:00:30	because it's so easy nowadays to open
00:00:28	00:00:32	your online store in a matter of two
00:00:30	00:00:34	hours in order to avoid this happening
00:00:32	00:00:36	to you it's important to know these
00:00:34	00:00:39	reasons of why they fail so you can
00:00:36	00:00:41	avoid them at all costs possible one big
00:00:39	00:00:42	reason why online businesses fail is
00:00:41	00:00:44	because people put way too much money
00:00:42	00:00:46	into the business initially when first
00:00:44	00:00:48	starting you guys know that i teach on
00:00:46	00:00:50	my channel how you can start a business
00:00:48	00:00:52	with zero dollars i started my first
00:00:50	00:00:54	e-commerce business with 100 so i
00:00:52	00:00:55	started about a year ago today and it
00:00:54	00:00:58	has turned into a six-figure business
00:00:55	00:01:00	without me purchasing ads and without me
00:00:58	00:01:03	paying upfront costs that are just not
00:01:00	00:01:05	necessary most of the people that teach
00:01:03	00:01:07	drop shipping or teach how to build your
00:01:05	00:01:09	online ecommerce store on youtube always
00:01:07	00:01:11	tell you to shopify which you guys know
00:01:09	00:01:13	i tell you not to use as a beginner it's
00:01:11	00:01:14	so unnecessary you guys know i have a
00:01:13	00:01:16	completely different approach i have a
00:01:14	00:01:17	whole entire step-by-step playlist on my
00:01:16	00:01:19	youtube channel for you guys to follow
00:01:17	00:01:21	if you're wanting to start a new
00:01:19	00:01:23	business for very very low startup costs
00:01:21	00:01:25	like i did so i'll leave the link to
00:01:23	00:01:27	that playlist up here so i started my
00:01:25	00:01:29	ecommerce business with 100 and i
00:01:27	00:01:31	personally like to buy things in bulk
00:01:29	00:01:32	and resell them and ship them myself
00:01:31	00:01:34	because i do like to have control over
00:01:32	00:01:35	my products but if you're someone that
00:01:34	00:01:36	you want to start off with drop shipping
00:01:35	00:01:38	that is something that you can start
00:01:36	00:01:39	also with zero dollars i also have a
00:01:38	00:01:41	video about on my youtube channel for
00:01:39	00:01:42	you guys can go and check out and you
00:01:41	00:01:44	can easily find these videos on my
00:01:42	00:01:45	youtube channel but i definitely think
00:01:44	00:01:48	one big reason why these online
00:01:45	00:01:51	businesses fail is because people are
00:01:48	00:01:54	dumping money into these stores before
00:01:51	00:01:56	they even start making income a lot of
00:01:54	00:01:57	people on youtube teach that you should
00:01:56	00:02:00	make a shopify store and then purchase
00:01:57	00:02:02	facebook ads which i 100 disagree i have
00:02:00	00:02:03	never purchased an ad in my life and my
00:02:02	00:02:05	business has turned into a six figure
00:02:03	00:02:07	earning business in less than a year
00:02:05	00:02:08	just by me posting my own videos on tik
00:02:07	00:02:10	tok there are so many ways that you can
00:02:08	00:02:12	promote it you just have to like kind of
00:02:10	00:02:13	learn how to make create videos and i
00:02:12	00:02:14	don't even show my face i know a lot of
00:02:13	00:02:16	people are like oh well you're just some
00:02:14	00:02:18	young girl but i hardly even show my
00:02:16	00:02:19	face in any of my businesses videos
00:02:18	00:02:21	you're free to go check that out if
00:02:19	00:02:23	you're interested essentially what i
00:02:21	00:02:25	think happens is people dig themselves
00:02:23	00:02:27	into a financial hole before they even
00:02:25	00:02:28	get started and then they are starting
00:02:27	00:02:30	to feel hopeless when they don't see a
00:02:28	00:02:33	result right away instead of easing
00:02:30	00:02:34	their way into the business and knowing
00:02:33	00:02:35	that they don't have much to lose
00:02:34	00:02:37	because they invested such a small
00:02:35	00:02:38	portion from the beginning the only
00:02:37	00:02:40	thing that they're really committing is
00:02:38	00:02:42	their time so essentially it's not
00:02:40	00:02:43	something that as it's as scary like you
00:02:42	00:02:45	just dumped two thousand dollars into a
00:02:43	00:02:47	project and now you're waiting to see
00:02:45	00:02:48	the results and then you wind up giving
00:02:47	00:02:52	up because you get scared because you
00:02:48	00:02:52	already invested so much money
00:02:52	00:02:56	that is why i think my method that no
00:02:54	00:02:58	one else toks about is so strong
00:02:56	00:03:00	because it really does ease you into
00:02:58	00:03:02	business without you feeling like you're
00:03:00	00:03:04	going to lose any money so my thing is
00:03:02	00:03:06	if you want to start making money online
00:03:04	00:03:08	don't pay for courses don't pay for ads
00:03:06	00:03:09	don't pay for mentorships don't pay for
00:03:08	00:03:11	a website there's so many ways that you
00:03:09	00:03:13	guys can start for free which i tok
00:03:11	00:03:14	about on my youtube channel and have
00:03:13	00:03:16	step-by-step tutorials literally walking
00:03:14	00:03:19	you guys through it so reason number two
00:03:16	00:03:22	why i think online businesses have a
00:03:19	00:03:24	huge fail rate is because people give up
00:03:22	00:03:26	too easily and they do not believe in
00:03:24	00:03:28	themselves i did not have any sales for
00:03:26	00:03:30	at least two months when i first started
00:03:28	00:03:33	my first business and you guys know i
00:03:30	00:03:35	put 100 in my business so i was still a
00:03:33	00:03:37	little like sad when i didn't see myself
00:03:35	00:03:39	getting any sales i got super
00:03:37	00:03:41	disappointed when i wasn't getting sales
00:03:39	00:03:43	at first i was scared i wasn't sure what
00:03:41	00:03:45	i was gonna do but you guys know that i
00:03:43	00:03:47	started selling lashes so then from
00:03:45	00:03:49	lashes i went on to sell like bundles
00:03:47	00:03:50	with the lashes and lip gloss so like
00:03:49	00:03:52	then now i'm selling something
00:03:50	00:03:54	completely different so you can't be
00:03:52	00:03:55	afraid to just like try different
00:03:54	00:03:56	products and you'll wind up selling them
00:03:55	00:03:58	but then if you want to shift to
00:03:56	00:04:00	different products and try different
00:03:58	00:04:02	products that is a great way of doing it
00:04:00	00:04:03	if you want to just jump in don't feel
00:04:02	00:04:05	like it's going to be your end-all
00:04:03	00:04:06	be-all if you pick one product like
00:04:05	00:04:08	that's the end you can't change it
00:04:06	00:04:10	because that's simply not true i
00:04:08	00:04:13	completely changed my niche but that is
00:04:10	00:04:15	why it's so important to have a business
00:04:13	00:04:16	name that you can kind of change around
00:04:15	00:04:18	because body full i feel like goes with
00:04:16	00:04:20	so many different niches which is why i
00:04:18	00:04:22	chose that name because i knew i was
00:04:20	00:04:24	super indecisive and i knew that i may
00:04:22	00:04:26	have wanted to change the product in the
00:04:24	00:04:27	future but the thing is is you won't
00:04:26	00:04:29	have as much pressure on yourself if
00:04:27	00:04:31	you're starting with a low budget
00:04:29	00:04:32	because you know that you didn't spend
00:04:31	00:04:34	that much money getting into it it's
00:04:32	00:04:36	really just your time and i think people
00:04:34	00:04:38	give up way too easily if they don't see
00:04:36	00:04:40	profits right away i just remember when
00:04:38	00:04:41	i almost gave up and now i'm sitting
00:04:40	00:04:43	here literally toking to you guys right
00:04:41	00:04:45	now and teaching it to you guys which i
00:04:43	00:04:47	find crazy because i literally like you
00:04:45	00:04:48	could ask my best friend i told her i
00:04:47	00:04:51	was like girl i don't think this is
00:04:48	00:04:53	going to work out like i even posted on
00:04:51	00:04:54	facebook and i wanted to know like
00:04:53	00:04:55	people's opinion like i posted in a
00:04:54	00:04:56	makeup group because at the time i was
00:04:55	00:04:59	like little makeup bundles with like
00:04:56	00:05:00	lashes um lip gloss and stuff and i
00:04:59	00:05:02	posted like a picture of what i was
00:05:00	00:05:04	selling to the facebook group and they
00:05:02	00:05:05	dragged me like i was like oh my gosh
00:05:04	00:05:07	this is such a bad idea like i don't
00:05:05	00:05:09	know why i'm doing this but i still had
00:05:07	00:05:12	hope and that hope is what drove me to
00:05:09	00:05:15	continue just trying my best and it
00:05:12	00:05:17	wound up leading me to other routes and
00:05:15	00:05:19	now i have a very solid niche which
00:05:17	00:05:22	people love that's easy to promote so
00:05:19	00:05:23	even if your first idea doesn't go as
00:05:22	00:05:25	planned you can always switch it up and
00:05:23	00:05:28	find another idea and that might be the
00:05:25	00:05:30	one that takes off but the point of this
00:05:28	00:05:32	one is just the fact that don't give up
00:05:30	00:05:34	even if you do not see results right
00:05:32	00:05:36	away reason number three of why i think
00:05:34	00:05:39	businesses fail is that there is a lack
00:05:36	00:05:41	of business identity someone is not sure
00:05:39	00:05:43	what questions to ask themselves when
00:05:41	00:05:45	they are wanting to start an online
00:05:43	00:05:47	business i found five questions that i
00:05:45	00:05:48	think are extremely useful and i'm going
00:05:47	00:05:49	to read them to you right now and these
00:05:48	00:05:51	are the questions that you need to ask
00:05:49	00:05:53	yourself before starting your online
00:05:51	00:05:55	business so the first question is what
00:05:53	00:05:58	am i offering why is it desirable to the
00:05:55	00:06:00	customer who is my customer you have to
00:05:58	00:06:02	know who you're targeting this product
00:06:00	00:06:04	to in order to promote it successfully
00:06:02	00:06:06	how can this product benefit my customer
00:06:04	00:06:07	for example it doesn't have to be so
00:06:06	00:06:09	deep to where like you're solving a
00:06:07	00:06:10	problem in life like for example i saw
00:06:09	00:06:12	just like cute stuff like cute boba
00:06:10	00:06:13	accessories and things like this so like
00:06:12	00:06:15	to answer that question how does this
00:06:13	00:06:16	benefit them it makes them happy so it
00:06:15	00:06:18	can be as simple as that it doesn't have
00:06:16	00:06:20	to be so deep where oh it solves our
00:06:18	00:06:21	life problem itself that you don't have
00:06:20	00:06:22	to solve you don't have to solve a
00:06:21	00:06:24	problem i think that's another thing
00:06:22	00:06:27	that like a rumor that got started with
00:06:24	00:06:29	a lot of gurus on youtube is they tok
00:06:27	00:06:31	about um find a product that solves a
00:06:29	00:06:33	problem which is a smart idea of course
00:06:31	00:06:35	but it doesn't have to be that for sure
00:06:33	00:06:36	because that
00:06:35	00:06:37	definitely i feel like creates a lot of
00:06:36	00:06:39	barriers for me because i'm trying to
00:06:37	00:06:41	think all these things when it's really
00:06:39	00:06:44	just not that deep just find a product
00:06:41	00:06:46	that sells and then number five what are
00:06:44	00:06:48	my long-term goals so you have to set
00:06:46	00:06:50	goals for yourself in order to make
00:06:48	00:06:51	things happen you can't go into
00:06:50	00:06:53	something just knowing like okay
00:06:51	00:06:55	whatever happens happens you do need to
00:06:53	00:06:57	set a goal or to have some idea of what
00:06:55	00:06:59	you want in order for you to work for
00:06:57	00:07:02	that and in order for your motivation to
00:06:59	00:07:04	stay strong so i think another huge
00:07:02	00:07:06	thing that people don't do enough or
00:07:04	00:07:08	they don't put enough emphasis on is
00:07:06	00:07:10	their social media presence with their
00:07:08	00:07:12	business the social media presence
00:07:10	00:07:14	should be the number one thing you're
00:07:12	00:07:15	thinking of when you're starting a
00:07:14	00:07:17	business if you guys have watched my
00:07:15	00:07:20	other videos you guys know how important
00:07:17	00:07:21	it is to have social media presence and
00:07:20	00:07:23	you guys should even be thinking like
00:07:21	00:07:25	okay would this product go viral on tik
00:07:23	00:07:26	tok if i promote this in this way will
00:07:25	00:07:28	this go viral that's what you guys
00:07:26	00:07:30	should be thinking when picking a
00:07:28	00:07:32	product and when starting a new business
00:07:30	00:07:34	is you have to think of it like that
00:07:32	00:07:37	because we live in a time where social
00:07:34	00:07:40	media is literally the control of our
00:07:37	00:07:42	society so you have to capitalize on
00:07:40	00:07:43	that if you want to have a successful
00:07:42	00:07:46	business there is nothing wrong with
00:07:43	00:07:48	fear as fear can actually drive you to
00:07:46	00:07:50	do better don't let that fear hold you
00:07:48	00:07:52	back embrace that fear so you can go
00:07:50	00:07:54	after something that you are getting
00:07:52	00:07:56	inspired to do another huge reason why i
00:07:54	00:07:58	do think online businesses fail is
00:07:56	00:08:00	because people pick a product or a niche
00:07:58	00:08:02	that does not relate to them personally
00:08:00	00:08:04	for example i see a lot of people that
00:08:02	00:08:07	go into the pet niche and they don't
00:08:04	00:08:09	even have a dog or cat or pet to even
00:08:07	00:08:11	represent or feel passionate about being
00:08:09	00:08:12	in this niche and if you're the type of
00:08:11	00:08:14	person that you do want to start off
00:08:12	00:08:16	drop shipping look for items in your
00:08:14	00:08:18	house that you use every day and you
00:08:16	00:08:21	could be so surprised that you could be
00:08:18	00:08:22	drop shipping that exact item to where
00:08:21	00:08:24	then you don't even have to buy the
00:08:22	00:08:25	product for a sample but you know how to
00:08:24	00:08:28	use it something you use in your
00:08:25	00:08:29	everyday life so you know how passionate
00:08:28	00:08:31	and you know that why you like it so
00:08:29	00:08:33	then that can help you psychology wise
00:08:31	00:08:35	when making your content for other
00:08:33	00:08:38	people because you know what you like
00:08:35	00:08:40	even though i don't personally purchase
00:08:38	00:08:42	boba accessories i can still emphasize
00:08:40	00:08:45	with my audience and see what appeals to
00:08:42	00:08:47	them and just this is all just by trial
00:08:45	00:08:48	and error as well if a video does not go
00:08:47	00:08:49	viral for you then you know then that
00:08:48	00:08:51	video is not something that you would
00:08:49	00:08:54	create again it just means you have to
00:08:51	00:08:56	switch something up in order to make
00:08:54	00:08:58	that video better the next time you have
00:08:56	00:08:59	to remember that it's never failure
00:08:58	00:09:01	always a lesson so even if something
00:08:59	00:09:03	doesn't work out this is your lesson to
00:09:01	00:09:05	learn with and grow from if you have
00:09:03	00:09:07	this mindset throughout life and in
00:09:05	00:09:09	business i promise you will see amazing
00:09:07	00:09:11	things happen whatever comes out of your
00:09:09	00:09:12	mouth is what's gonna happen so if
00:09:11	00:09:14	you're constantly someone that's
00:09:12	00:09:16	complaining i'm not getting sales i'm
00:09:14	00:09:18	not getting views i'm not getting this
00:09:16	00:09:20	you are not going to succeed i hope this
00:09:18	00:09:23	video helped you to identify ways that
00:09:20	00:09:25	business can fail so you can avoid that
00:09:23	00:09:27	and have a successful long-term business
00:09:25	00:09:29	model as always give this video a huge
00:09:27	00:09:30	thumbs up so i can continue making
00:09:29	00:09:32	videos like this for you guys and hit
00:09:30	00:09:34	that subscribe button because we are on
00:09:32	00:09:35	the road to a hundred thousand
00:09:34	00:09:37	subscribers wishing you guys all the
00:09:35	00:09:38	best of luck on all your business
00:09:37	00:09:40	adventures and if you guys have any
00:09:38	00:09:42	questions feel free to comment down in
00:09:40	00:09:44	the comment section below i try to
00:09:42	00:09:46	answer every single comment as quickly
00:09:44	00:09:49	as i can i'll see you guys in my next
00:09:46	00:09:49	video bye everyone
00:09:53	00:09:55	through the wastelands through the
00:09:54	00:09:59	highways
00:09:55	00:09:59	to my shadows