Reasons why your online startup is failing Follow Nov 20, 2020 · 2 mins read
Reasons why your online startup is failing
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Have you ever wondered why your online startup is failing? Despite all the efforts and capital you have put in, you never seem to generate enough profit or retain your customers.

According to experts, 90% of online businesses fail within the first four months. This is alarming, considering the online landscape offers budding entrepreneurs numerous opportunities to generate income.

But, while anyone can create a website or start an eCommerce business, only a few can utilize the right strategies to attract prospects and convert customers.

So, why is your online startup failing?

1. Lack of self-discipline

The beauty of online startups is that you can work from anywhere and at any time. However, if you don’t put in the hours, you’re more likely going to fail. Working a few hours a day or week doesn’t drive instant traffic to your site or generate leads.

Instead, you need to create a working schedule and stick to it to ensure you’re productive and efficient every day. If you work from home, convert your garage or any other room into an office to create a productive work environment. You can visit an ADU in Los Angeles to source inspiration for your garage conversion.

2. You don’t know how to market

Many startups don’t realize that marketing is a never-ending process. Posting a few blogs or updates on your social media accounts in the early stages of your business isn’t enough to set it apart from your competitors.

You need to develop a long-term marketing plan involving advertising and promotional strategies to reach your target audience. Additionally, clearly state why your products or services are different from similar ones to ensure your marketing efforts don’t go to waste.

3. Poor planning

It’s easy to underestimate the financial, mental, emotional, and physical toll a startup can have. And, if proper plans aren’t in place, these issues can be detrimental to your business. Think of potential problems in your startup and plan ahead to address them to avoid frustrations.

For instance, come up with a budget for your startup to avoid misusing or wasting funds, as this can result in insufficient operating funds, causing failure.

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