Do you know that 95% of all online businesses fail?
Do you know why they fail?
Would you like to know how to start a profitable online business?
If you said no at least two times, you want to read what I am about to share with you right now.
3 Reasons Why Online Businesses Are Failing
There are three main reasons why an online business fail:
- The business model is wrong
- The analysis of the market is wrong
- The mindset is wrong
29% of all businesses fail because of cash flow problems, which is the second most common reason why online businesses fail according to CB Insights.
I will discuss these three reasons in more detail below.
1. The Online Business Model Is Wrong
There are many different ways that you can start a profitable online business, and unless you choose the right one for you and the market, you will fail.
That is a fact, not an opinion.
It does not make a lot of sense for a local driving school to sell books on how you can learn your dog different tricks, does it?
I am deliberately exaggerating here but you’ll get the point, right?
There are so many different business models that can be right for one person or business, but wrong for another one.
2. The Analysis of the Market Is Wrong
According to the same report, as I referred to above, this is the most common reason why all new online businesses fail.
A staggering 42% of all online business startups fail because there is no demand for them.
So, which one that is right for you depends on what kind of online business you want to start, and I will list a couple of online business models you can start as well as the pros and cons of each different model.
But I will share the reason of failure right now.
You need to know the specific problems that your customers are struggling with. What is it they think of when they go to bed tonight? How can your online business help them solve their problem?
Start to think about what you can do to help them.
Tailor your marketing, your message, your service, and realize that their problem is your problem too, and unless you can help them solve it, you will fail.
3. The Mindset Is Wrong
You might think of your online business as a hobby.
That is the wrong mindset. Your online business is a real business, and unless you treat it like a real business, you will fail.
You might think that you just do it for the money.
Again, that is the wrong mindset. As I wrote above, your online business is a real business that should help real people solve real issues with the products or services that your business is offering the market.
You will make money when you provide the right service to the right customer.
Be of great service
Bob Proctor
Another BIG thing is procrastination.
You might have known what is wrong and what needs to be fixed, but you never took action and started your online business.
If that is the case, you need to start right now.
Reading blog articles, or watching videos will NOT help you build a successful online business, the only action will change your life, and make your business profitable.
You are often the reason why you fail.
When you have read the next section, you will know why so many online businesses fail, and what it takes to be successful in the different models that I will share with you.
You might be afraid to spend money.
It is okay if you are afraid to spend money, I can understand that.
The great thing with an online business is that you can start it without any investment, and even though that is one of the reasons many people fail, it offers you an opportunity to try it out without any monetary risks to you.
In fact, I will even give you an opportunity to change your mindset and get in front of the right customers for FREE.
All I need you to do is to commit two hours of your time.
I want you to succeed, and that is why I am willing to share with you how to start a profitable online business the right way so that you can be profitable, successful, happy, and fulfil all your dreams.
Which Online Business Is Profitable?
Now that I have shared the reasons why 95% of all new online businesses fail, I want to show you how you can start a profitable online business the right way.
To become successful in any online business, you need to have the right:
- Mindset
- Target audience, aka customers
- Offer
If you want to build a profitable online business, you need to get some education first.
Preferably an education that helps you with your mindset, and teaches you how to get the right offer in front of the right audience, right?
After all, those are the three components to build a profitable online business the right way.
Click here to start your free online business training today.
As you probably noted, I did not list money above.
The reason I didn’t do it is that you can start an online business without any investment, and that is probably the main reason why online businesses are so popular nowadays.
Mindset is probably the reason why most businesses fail.
Remember that it all depends on which online business model you decide to choose, and I also would advise you to stick with a model for at least one month before you try another one.
These are the most profitable online businesses that you can start, according to my research:
| Online Business Model | Pros | Cons | Where to Start | Profitable Niches |
| Affiliate Marketing | 1. Very low startup cost (from $0). 2. Can be done from your own home. 3. You can start it on the side of your regular job. 4. Customer support handled for you by either the network or the product owner. 5. You can choose to promote any products and earn recurring commissions. | 1. Takes time to get started. 2. Might not “feel” like a real business, if you do it from home. 3. You need a platform to make money (Blogging, YouTube, Email). 4. You need to build your own brand. 5. No control when the product owner decides to remove the product from the market. | Amazon Clickbank CJ JVZoo ShareASale | Health Wealth Dating and Relationship Spirituality Hobbies |
| Amazon FBA | 1. Low startup cost. 2. Fast delivery to your customers. 3. A trusted brand that your customers already know. | 1. Amazon can shut you down whenever they want. 2. You need to buy inventory before you start selling. 3. You need marketing experience to get customers. | Amazon FBA | Baby Accessories Clothing Electronics Kitchen Gadgets Jewellery Source: RepricerExpress |
| Dropshipping | 1. Low startup cost (from $29/month). 2. No inventory needed upfront. 3. Easy to sell to new customers. 4. Can create a recurring commission for you. 5. Low marketing cost to test new products (from $5/day). | 1. Cheap products, low quality. 2. Long shipping times (from China). 3. You have to handle all the customer support, returns, and so on. 4. Works best with products you can promote on Facebook. 5. Can be quite competitive if many different stores are your own. | Shopify | Baby Accessories Kitchen gadgets Gardening products Phone accessories Yoga accessories |
| Online Surveys | 1. Low startup cost (from $5). 2. You can start right away. 3. Set your own work schedule. | 1. Not a guaranteed income. 2. Income will vary a lot. 3. Takes time to do and you have to wait up to 24 hours before you receive your earnings. | GoldOpinions | Online Surveys That Pays You in Cash |
| Software as a Service | 1. Low startup cost. 2. Customer service handled for you. 3. Can earn you recurring commissions (if it is a subscription service). | 1. You must understand your market to get sales. 2. Takes time before you see results. 3. Low payout. | ClickFunnels GetResponse | Tools for different kinds of other online businesses |
All the different online business models I have shared with you can be done in the whole world.
As you might have guessed already, I do recommend you to start with affiliate marketing if you are a beginner.
Please note that the links in the two last columns of the table above are affiliate links.
If you buy through those links or the link below, I will earn a commission from your purchase that will help me keep this blog updated and providing you with the best information about different ways to start a profitable online business.
You can start your online business for free tonight by joining this webinar.
I honestly think that it is the best free training currently available to help you start a profitable online business.
Otherwise, I would never have recommended it.
Which Online Business Is Best?
If you are wondering which online business that is the best for you to start, you can read the table above, where I list five different online business models.
I think that affiliate marketing is the best for beginners.
However, the choice is yours, and you need to understand which model suits your customers the best.
To be successful in affiliate marketing, you have to know:
- What your customers want and need
- How you can convince them to buy from you
- How you can make people like, trust, and know you
Does it sound complicated to you?
Then I know that you will love this free training since it will show you how you can start a profitable online business that will give you the freedom you want to do whatever you want whenever you want it.
Frequently Asked Questions About Online Business
Here are a few other questions I know people have about online businesses:
Which Online Business Is Profitable?
There are many different online businesses that are profitable. What decides which online business is profitable is the customers. In my article that discusses why online businesses fail, I list five profitable models. Each model works for a certain kind of business.
Are Online Business Courses Worth It?
Depending on what kind of online business course you take, it might be worth your time. However, investing in your own education before you start an online business, is still the best investment you can make. It will help you decide if a certain online business course is for you or not. I recommend that you start with this online business course, which is a free webinar.
Can Online Business Make Money?
Yes, online businesses can make a lot of money nowadays. The reason for this is because people are quite comfortable with buying things online.
What Online Business Can I Start?
It all depends on what kind of online business you want to start. In this article, I list five different model of online businesses that anyone can start, no matter where you live in the world.
Can I Start an Online Business with No Money?
You can start an online business with no money. All you need to do is to use time rather than money to start your business. If you have both, you will succeed faster, but it is possible to start an online business without any investment.
