There are several reasons I believe that many small businesses fail: poor planning, unrealistic income expectations, unwillingness to do what it takes, lack of marketing.
Once you realize the pitfalls of starting a business online, then you need to decide if starting a business is for you.
One of the most important qualities a small business owner needs is the ability to take action without having someone tell him/her what to do.
The other is the ability to see the complete picture.
With a little planning you can get started quickly in your business and start turning a profit.
Before you get started, ask yourself these questions: 1.
How much money do I want to make? Not everyone who starts a business online wants to make a six or seven figure income.
Many are simply trying to find extra money to make ends meet.
Starting a business is an easy way to do that, and it even offers a few tax breaks.
How much money you want to make will determine how you market your business, how you set up your business, and the type of websites you build.
One thing to remember is that for everyone who tells you online that a certain business model won't work for a certain income level, there is an exception to the rule.
2.
Do I need a website? If you only want to make a few hundred dollars a month to make ends meet, then you probably don't.
Even if you want to make millions, it's still possible to do it without a website.
Author Anthony Borelli makes $1.
5 million a year marketing affiliate products with Google AdWords.
That type of strategy takes some money though, so if you are starting out on a shoestring, Squidoo lenses or free blogs are a good option.
3.
What will I sell? There are millions of affiliate programs available on the internet.
You don't even need your product.
You can sell someone else's.
You may also create your own physical or digital product if you have an idea for one.
Just make sure you do your market research first to make sure there is a need.
Multi level marketing, services, or a combination of your own products or services and someone else's is also an option.
4.
What skills do I need to build my business? If you've never built a website before or written any type of sales copy, you'll either need to learn or outsource it (find someone to do it for you).
Again, if you're starting out on a shoestring, you may just have to roll up your sleeves and learn how to do it yourself.
Don't be afraid to learn though.
Everyone who ever started a successful business on the internet started off without the skills.
You can learn.
5.
How much time do I have to invest in my business? You want to know this first before you do anything.
If you only have 30 minutes a day, and you don't have any skills, then it will take you a little while to get started.
Or, you may have to find a different business model.
The point is, decide how much time you have, and then make a commitment.
The average American spends several hours a day watching TV.
Ultimately those who want to succeed will, even though it requires a lot of grit, determination, and hard work.