Why most online business fail?

[Kinglegend01]

Another reason why most online business fail is improper marketing strategy. If you were to start selling a product that is personally not wanted by a particular group of people and they are your target audience then you would be making little or no sales from that business.

 

[Patrik]

I have seen someone who planned out very well, set up a good strategy for his new business but in the end he couldn't continue the business. It was difficult for him to keep up with the business because he was affected or infected by Corona virus and that was the end of his business.

i wouldn't call it a good planning for one reason, and that reason is : he didn't take corona virus on consideration when planning for his business, calculating every possible thing that could occur in the future is a part of the planning

 

[Samuel77]

In my own point of view, the reason online business fail it is because of the standard of the business. If you have a good standard your business will not fail, you see online business need promoters to help them in promoteing the business all over, and this requires finance, so if the business is not well financial stabiliz it will fail

 

[Heatman]

i wouldn't call it a good planning for one reason, and that reason is : he didn't take corona virus on consideration when planning for his business, calculating every possible thing that could occur in the future is a part of the planning

That's too harsh in my opinion. Who knew that Corona virus was going to hit the world? Did you see it coming? Did the USA see it coming? Did China do it on purpose or were they surprised as the world was? How can the guy know such would happen?

 

[Patrik]

That's too harsh in my opinion. Who knew that Corona virus was going to hit the world? Did you see it coming? Did the USA see it coming? Did China do it on purpose or were they surprised as the world was? How can the guy know such would happen?

i didn't mean that, i meant that he didn't take on consideration that something will prevent him from running his business fine, not only corona could do that, for example, a new rule or law that can appear such as taxes being applied or anything like that

 

[Frank]

A recent studies conducted by webfx has shown that over 70% of newly established online businesses fail within the first 4-6 months.

Why is the rate so high?

This is because not many new businesses know the reason they are going into a particular business. If you are starting a business just to make money and nothing more, you are likely to be frustrated out of the business in the shortest possible time.

 

[Goodday]

A recent studies conducted by webfx has shown that over 70% of newly established online businesses fail within the first 4-6 months.

Why is the rate so high?

Yeah, l also read this sometime ago and I wondered why but got my answer within me. The problem is that most online businesses are highly competitive and because of this, any one who hasn't planned his business ideas very well before venturing into it normally run loss.

 

[chalcedony8]

online busunless is faced by a lot of problems, one of the problem faced by online businesses is the lack of capital to finance the already existing biciness, which makes it impossible for the business to go far, another problem faced by online businesses is the lack of enough social presence ,a person who is into online business should have full online presence to be able to meet the needs of his or her customers. online business fails die to ineffiecientinefficient social presence too, it's important to have a very good social

 

[Heatman]

i didn't mean that, i meant that he didn't take on consideration that something will prevent him from running his business fine, not only corona could do that, for example, a new rule or law that can appear such as taxes being applied or anything like that

There are some unforeseen circumstances that can be completely overwhelming no matter what you do in trying to counter it. Just like Corona virus that halted almost every business, there was no way to work around it. Some problems can get solutions immediately while some can't.

 

[MarieArie]

Most online businesses fail due to inconsistency. They do not have the zeal to forge ahead; the zeal to keep keeping on. Many get discouraged due to the bad comments or reviews they get from their customers.

 

[Rimsha kanwal]

Most online business fail because they never set these kinds of goals. Without goals, they may not have a clear direction for their activities, and may never do the right things to help turn a profit. ... You may want to set a goal of making 25 sales your first month, or reaching a set amount of profit.

Many online businesses fail to succeed because they never set these kinds of goals. Without goals, they may not have a clear direction for their activities, and may never do the right things to help turn a profit.
When you are setting goals for a new business, start small, and remember to be realistic. You may want to set a goal of making 25 sales your first month, or reaching a set amount of profit. Once that goal is met, you can set a new goal.

 

[Hasan Raza]

Many online businesses fail to succeed because they never set their goals. Without goals, they may not have a clear direction for their activities, and may never do the right things to help turn a profit. When you are setting goals for a new business, start small, and remember to be realistic.

 

[Sake]

I can think of a few reasons but the major reason i think is because they're just copying each other. Copying other businesses that already exists makes it harder to get clients. Specially if the internet is already flooded with similar concept of business and they already established a good reputation and you're just starting out

 

[Afrinish]

Maybe you can liken that to the situation in our village. There were a few eateries here, fastfood and small restaurants. I think there were about 5. After some years there was a boom. There was a chicken restaurant with unlimited rice, Domino Pizza, Burger place and Tea house. All those I mentioned closed shop after a year or 2.

 

[Sehrish]

A lot of people, they lack confidence. They lack belief. You can't be successful if you're not confident. Show me someone that's massively successful that doesn't have the confidence to go along with it. You have to believe in yourself. If you don't believe in yourself, then you're not going to take action. You're not going to do what's necessary to build your business because you don't believe in yourself. You don't even believe that you're going to be successful.

 

[Dowenship]

You see knowledge is like a treasure in an ocean, most people just think online business is easy just like they post their pictures with no stress just so easy, without knowing that their are some basic knowledge for the use of Internet of Internet. But that ratio way to high.

 

[Francis17]

Because in terms of money cycle that business fail

 

[rhomdz]

I guess the competition of store and lack of actual buyers both for online/offline customers.

 

[ranaabubakar263]

Not analysing the needs & demands of target customers is yet another reason why 42% startups fail to succeed. Remember, you need enough customers to buy your products or service, for your business to succeed. And that’s why it makes sense to evaluate your potential customer base before launching your new business.A basic ingredient to run an online business is to have a well-designed website. You need to put everything regarding your business in your web pages.

 

[Adexgrace]

Failure of online business as been an issue of a very long time but people do not really address it. Lots of online business fails because people doing the business sometimes dont make it even more difficult for customers and people to function well, making it inconvenient compared to offline business.