Entrepreneurship Industry News

3 Hidden Reasons Why 90% Of Startups Fail!

Robert Gafeney
If you’re reading this article, then you know how difficult it is to start and run a profitable online business. Chances are high that you’ve run into some problems and aren’t quite sure how to fix them. The good news is that just because you are having some problems now, that doesn’t mean that your business has to be one of the 90% of startups that fail. In fact, getting help and changing things around now will help get your online business back on track.

If your online business is in trouble, then the best thing you can do is start evaluating why. What is causing your business trouble? Do you have a business plan in place? Are you having trouble acquiring new customers? How is your budget? These issues are a few of the many that can cause your business to suffer. We’ve created a list of some of the other reasons why businesses fail and how you can prevent that from happening. Follow this advice and get your online business back on track.

The Problem: A Bad Website

Having a bad website is one of the most basic mistakes an online business can make. If your website runs slow or is difficult for your customer to read, then they will leave. This is especially disastrous if your business is solely online. How else are your customers supposed to purchase from you if they can’t make it through your website?

The Fix: A Great Website

Creating a great website is not that hard and is key if you are trying to get your online business back on track. You need to create a website this is secure, has great user experience, is mobile friendly, and loads quickly. There are several good hosting platforms out there that let you meet all of these categories. Consider using a new hosting platform and redesigning your website if this is your business problem.

The Problem: Negative Online Reputation

Have you ever taken a look at your customer ratings? Check Google, Yelp, and Social Media etc. to see what others are saying about you and your business. If your ratings are mostly good, then there is nothing to worry about. However, if you have overall negative reviews, then that’s hurting your business…a lot. When customers look for a new company, they look at customer reviews. In fact, 92% of consumers read online reviews and 68% say that positive reviews make them trust a business more. If those reviews are negative, then you are losing customers from it.

The Fix: Utilize Your Customers

To get your online business back on track and improve your online reputation, utilize the customers you do have. Don’t be hesitant to ask them to leave a good review or testimonial on Google, Yelp, or your Social Media sites. People trust other people’s reviews much more than they do a company’s statement. The more positive reviews you have, the better your online reputation will be and the more customers you will get.

The Problem: No Patience

How long ago did you start your online business? If you’ve only recently started and are worried about not seeing results, don’t worry. It takes time to build up a successful online business. Too many new businesses fail because their owners expect instant results and quit when that doesn’t happen. Your online business success will not happen overnight and thinking that that will be the case will only hurt your business.

The Fix: Keep Working

If your business’s problem is a lack of patience, it’s easy to fix. Recommit yourself to working hard towards your goals and getting your online business back on track. Just like any other business, the more time and effort you put in then the more you will get back. Don’t give up.

Conclusion:

Any new business is going to face some problems as it’s starting up. It’s important that you don’t let those problems grow into disasters that will destroy your company. Start asking yourself why your business is failing. After that and more importantly, start learning what you can do to get your online business back on track and make it successful today.

Read more: LinkedIn

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