One of the first things that I thought would be different about online business is that it had a different ratio than the real world.  We’ve all heard that 9 out of 10 business’ will fail.  I thought there was more of a chance of success online, but I think that the 9 out of 10 ratio is pretty accurate.  I think that this is due to a number of things.

1.  People don’t base their business around an original idea, or partner themselves with an original company.  They think that they can just copy whatever everyone else is doing.  They don’t seem to understand that they will have competition from basically every other country. It’s just as competitive here, if not more so, than the real world. Even if their idea has been done before, they need to find a way to make themselves stand out.

2.  I think people give up too easy on their online business.  They don’ t understand that this is like any business, you are lucky to just break even the first year.

3.  Less of an emphasis is put on people in online business.  Their customers needs aren’t thought about because the entrepreneur sees an endless supply of customers.

How do you feel about the 9 out of 10 ratio, & what do you do to stop it?

This entry was posted on Tuesday, March 6th, 2007 at 5:38 pm and is filed under Home Business. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.