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90% of Online Businesses Fail in Less Than 120 Days???

Published on: December 13 2022 by Anton Kraly - Drop Ship Lifestyle

Did you know that 90% of online businesses fail in less than 120 days? It's a staggering statistic that highlights just how tough the world of online entrepreneurship can be. But why do so many online businesses fail? In this article, we'll explore some of the common reasons why online businesses don't make it past the first few months.

Reasons why online businesses fail:

1. Lack of market research: One of the biggest reasons why online businesses fail is because they don't do enough market research. It's important to understand your target audience and their needs before launching your business. Without this knowledge, you may end up creating a product or service that nobody wants.

2. Poor marketing strategy: Even if you have a great product or service, it won't sell if nobody knows about it. Many online businesses fail because they don't have a solid marketing strategy in place. This could include social media marketing, email marketing, content marketing, and more.

3. Lack of funding: Starting an online business can be expensive. Many businesses fail because they don't have enough funding to get started or to sustain themselves in the long-term. It's important to have a solid financial plan in place before launching your business.

4. Poor website design: Your website is the face of your business. If it's poorly designed, difficult to navigate, or doesn't load quickly, potential customers will quickly move on. Investing in a professional website design can go a long way towards the success of your online business.

5. Lack of focus: It's easy to get distracted when you're running an online business. Without a clear focus, you may end up spreading yourself too thin and not making progress in any one area. It's important to prioritize your goals and focus on what's most important.

Starting an online business is no easy task. However, by doing your research, having a solid marketing strategy, securing funding, investing in a professional website design, and staying focused, you can increase your chances of success. Remember that it's okay to fail – many successful entrepreneurs have failed multiple times before achieving success. Don't give up – keep learning, growing, and adapting to the changing world of online business.

Did you know that 90% of businesses fail within 120 days? This statistic may sound crazy, but is it really true? In this article, we will examine this claim and its implications for aspiring entrepreneurs.

The Myth of 90% Business Failure:

- Many people believe that 90% of businesses fail within the first 120 days, but this statistic is not based on concrete evidence.

- The Small Business Administration reports that 80% of businesses survive their first year, which is much more encouraging.

- However, it is important to remember that the success of a business depends on many factors, such as the owner's work ethic, commitment, and willingness to put in the time and effort required.

Flipping the Coin:

- The idea of business success is similar to flipping a coin. If you bet on heads, you have a 50% chance of winning, but this probability is based on a fact that does not change.

- In contrast, the success of a business is based on many variables that can change over time, such as the owner's actions and decisions.

- Therefore, it is not accurate to say that you have a one out of 10 chance of succeeding in business, as this claim ignores the many factors that can influence success.

The Importance of Taking Action:

- The biggest obstacle to success is often a lack of action. People who do not take the necessary steps to build their business will never succeed.

- However, those who are committed to building their business and are willing to put in the effort required can achieve a 100% success rate.

- If you are struggling to make your business work, there are concrete steps you can take to improve your chances of success, such as analyzing your store and suppliers, and seeking guidance from experts.

The myth of 90% business failure is not based on concrete evidence and ignores the many factors that can influence success. Success in business depends on the owner's commitment, work ethic, and willingness to take action. By taking concrete steps to improve their business, entrepreneurs can achieve a 100% success rate.

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