The High Failure Rate of New Online Businesses.

Here's a big secret that those of us promoting online businesses might not like to discuss. Why is there such a high failure rate for new internet ventures? There is evidence to suggest that the failure rate is over 95%. I don't mean anything as necessarily bad as bankruptcy, but simply that people give up because they can't make their business work. Now, in fact, high failure rates are common in all types of new businesses, not just the online variety. But online businesses are frequently promoted as low cost, low risk, even "easy". If so, why the high failure rate? If we are to build a successful business it is vitally important for the potential new business owner, and those of us who promote online ventures, to understand what elements contibute to failure. More importantly, we need to understand what we must do to be successful. more...

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