Most people who try to start an online business fail. Why? They’ll tell you the market is too saturated, or no one liked their content. But that’s not the real reason
Most people fail at online business because it is too easy
I have started quite a few different businesses, including a coffee shop and this blog.
To start the coffee shop:
- I needed to raise £100,000.
- I needed to find a location and enter into a multi-year contractual agreement with the landlord.
- I needed to incorporate a company.
- I needed to research and find all the suppliers.
- I needed to research and find all the fitting and equipment needed.
- I needed to recruit all the staff.
- After all that work and money, I’m damn well not going to let it fail in its first year!
To start the blog:
- I signed up to Blue Host and got a year of hosting and my domain name.
- I installed WordPress.
- I found a theme I liked.
- Literally about an hours worth of work and under £100 spent.
When a business is that easy to start and costs so little it really doesn’t matter if the next day I change my mind and decide to quit. My website will join the graveyard of abandoned sites and will have officially ‘failed’.
So yes most people fail at online business. But most of those people have not put the same amount of effort in as they would to a physical business.
Online Business Is Both Much Easier And Much Harder Than Most People Believe
I truly believe that anyone can make succeed at online business provided they work long, smart and hard enough.
Maybe I’m just an eternal optimist, but I have yet to see anything to disprove that theory.
Almost everyone I know who has stuck with online business over the years has ended up making good money. Maybe not a fortune, but more than enough to justify doing it full time. Including a couple of people who I thought were complete idiots and would never make it.
That doesn’t mean they succeeded on their first attempt. Actually, the opposite is often true and the first two or three attempts failed. But it didn’t cost much to start and it doesn’t cost much to start again. And with each attempt, they are wiser and get closer to the goal.
There’s a saying in martial arts:
“It’s not about who’s good, it’s about who’s left”
I believe that is just as true for online business.
But just because everyone can eventually make it, doesn’t mean it isn’t going to be nightmarishly difficult and involve spending hundreds of hours working for little to no reward. Maybe for years.
When you start out, you won’t know what you’re getting yourself into and just how hard it will be. You’ll be starting from a position of knowing nothing and will make hundreds of mistakes. Years later you’ll think “if only I knew back then what I do now I would have made so much money!”.
You’ll also look back at the posts I and other people have written and laugh. When written down, starting an online business sounded so easy and logical. Well, they are logical, but they’re anything but easy.
People seem to relate ease of getting into the business with ease of making it successful. It is very easy to set up an Instagram account, therefore it must also be easy to make a career as an Instagrammer. That is not true. You should be putting in the same amount of work and passion into your online business as any other type of business. It is pretty easy to start an Amazon FBA business, but that doesn’t mean it’s easy to make it successful.
But is it worth it?
Yes. The reason most people fail is also the reason I recommend online businesses. It is cheap and easy to start. There are no gatekeepers and anyone can do it. Plus online, there is plenty of money to go around.
I also 100 million percent believe that it is easier to succeed in online businesses than in physical businesses. They’re easier to start, easier to scale and easier to pivot.
I have seen that same trend in all of my businesses and have witnessed the same in friend’s businesses. And until I see some evidence to the contrary I will continue to encourage people to start online businesses.
Online Businesses You Could Start
- Create a brand and selling through Amazon FBA
- Matched betting
- Blogging – How to get readers and make money from your blog
- Writing books – How much my bestselling book made in its first year
- Freelancing – My Fiances experience quitting her job and becoming and online freelancer