Reasons Your Internet Venture Is Failing

It’s always an exciting prospect to have your internet business up and running. You’re working hard, friends and family are supportive, you’ve got your social media sites churning out daily content…essentially, it’s going how you thought it would go. Yet now, for whatever reason, the money hasn’t begun to roll in yet. You’re putting in long shifts of work, but the money? Nowhere to be seen! What’s going wrong, you ask yourself. It could be one thing or it could many. Here’s a selection of some of the most common issues that stunt a website’s success.

Not Enough Capital

Think about the budget you have for your business. Where did that money come from? Family, your own savings, investors? Wherever you got it and however much you have, it’s unlikely that it’s even a fraction of what your competition has in its bank reserves. A lot of the good ideas have been taken, and even if yours is unique and well thought out, there’ll be a bigger boy who has the cash to out advertise you. You’ll have to use every penny very carefully. No reckless spending! Make every fraction of your budget go as far as possible.

No Clear Plan

You’ve got the beginning all mapped out just fine, but where do you go from here? Getting up and running is not the challenging part of creating a business. The long term plan is. If you’ve set yourself up with the sole intention of waiting for the money to come in and then winging it, you’ll go nowhere. Make sure you create a plan for every step of the way. Nobody has overnight success, and you won’t either. Be ready to adapt to market changes and to play the long game. It’s the only one you’ll be playing!

Not Enough Market Research

All the good ideas and intentions in the world will count for nothing if you haven’t check that there’s a market there for what you’re actually trying to do. Before you launch, you should be spending a good portion of your budget and time on market research, establishing who exactly you’ll be trying to draw in as customers, how they spend, and how much they spend. If you don’t have a clear vision of where the money is actually going to be coming from, then you won’t know in which direction to walk to meet it. There are more ways than ever than ever to get the data you need to be a success; make sure you get it.

Crowded Marketplace

You have to work hard to ensure you’re able to carve out your own slice of the market. Whatever your service or product is, there will almost certainly be dozens of competitors also vying for people’s hard earned cash. What’s your unique selling point? Why would someone choose to spend their money with you over somebody else? There’s also a chance that you’re in a marketplace that is too crowded. At that stage, you’re going to have to think cleverly about new angles you can come from. How crowded your market is should present itself during your market research stage.

Your Website Is Terrible

We hate to be the one to bring the bad news. But is there any chance that your website isn’t really up to the standards expected of a site in 2017? People know a bad site when they see one. The content can be fantastic, the products and level of service outstanding, but if the design looks like it was mocked up on paint then people will click away. Having a solid design and adaptable website confers reliable, superiority, and respectability. If you’re struggling, take a look at Pixel Graphic Design and get the look your website needs. Also ensure that it’s mobile friendly and that all content is free from spelling and grammatical errors.

You’re Not Being True To Yourself

Admittedly, this is a hard one for us to judge. But is there a chance that you’re not really following your own set of rules and beliefs, and are instead copying what most established companies are doing? While it’s good to know how those around you are doing things, if you try and do as they’re doing you’ll end up looking like a cheap copy. And why would anyone choose to go with you when they can go with the real thing instead? Don’t start your business by asking how you can compete with the big companies. Set out your own stall and do things your own way.

No One Knows You’re There

You can have the greatest website in the world. Your products can be top notch, your service unparalleled. Your business is, essentially, a wonder of the digital world. But if you don’t tell people it’s there, then you’ll still have no customers. Make sure you’re spending the time actually marketing your website and services. You should be utilizing the free advertising that comes along with maintaining an active Facebook, Twitter, Instagram profile. Don’t have a blog on your website? Start one. Websites who blog get 3 – 4 times as many visitors as those who don’t. Get creative with your marketing. Think outside the box, and people will come.

Finally: Your Ego

The company might be your baby, but if you’re inexperienced and trying to do everything all on your own then you will eventually fail, be it in the early stages or just a little ways down the line. You should be growing more comfortable outsourcing work, delegating tasks, and implementing feedback from those around you as well as customers. Your ego can make you take some pretty risky chances, and also blind you from something that might be right in front of you. It may even be that your company isn’t doing well because of errors you’ve made in the initial setting up of the business. During those times, be humble – don’t fight it. Chalk it up to inexperience and make sure you learn any lessons for the next time, when you’ll get it right.

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