It’s been two months since my last post. You may be wondering what kept me busy. The short answer is, I’ve been studing how to earn online income through an online business. Yes, I spent time, money and a lot of EFFORT to learn about internet business opportunities.

So what was the result of these two months research? I’ll summarize it in one sentence:

You will fail in your Online Business.

It’s sad to read about it but surveys and research have showed that 95-98% of all those who try to earn online through an internet-based business will fail in the first year. From the remaining 2-5% that actually succeed in the first year, only 1% will last the first 5 years.
Everyday, more and more people are getting interested in having an online business. More and more people are become part of the statistics of failure. Why do people fail to earn online income and fail to succeeed in their internet business? I’ve researched on those questions and read so many ebooks, articles and discussions and I’ve narrowed it down to these four: Information Overload, Wrong Approach, Lack of Determination and Discipline. There are other reasons people will fail but these four are the most prevalent and disastrous.
Let’s discuss each one.

Information Overload
There is just too much information on the internet especially on how to earn online. You’ve probably received offers on your email, ads on websites, posts on your favorite blogs. There seems to be a lot of people that earn online income. Many of these so called internet business “gurus” would encourage you to buy their products. Just when you thought you already bought the best formula for online success, you’ll receive another email saying that this system is better than the rest.
You’ll also read tons and tons of webpages claiming to be legitimate sources and giving unbiased reviews but in the end they are just promoting products. The more “informed” you are, the more confused you get. In the end you’ll just give up because of the confusion and frustration.

Wrong Approach
Opportunistic approach vs Entrepreneural Approach.
Opportunistic approach is what most online business seekers use. To describe it best, I’ll quote Rich Schefren from his highly rated free ebook,”The Internet Business Manifesto”:

An opportunity seeker is always looking for their big opportunity to make lots of money from the hot opportunity of the moment. Their only criteria is, “Can I make money from this?” So today it’s Adsense, tomorrow it something else, and yesterday it was some other hot concept already forgotten. Opportunity seekers buy lots of products, and they use only a few of them, and the ones they do use get abandoned when the next so-called “easy” way to make money comes by. The question they ask themselves is, “What?s the easiest way for me to make money right now?”

On the hand, the entrepreneur (those who use an entrepreneural approach, has a clear vision of their goals for their online business. Quoting, Rich Schefren again:

A true entrepreneur, on the other hand, is a completely different animal altogether. An entrepreneur has a clear vision of what they want the business to become. Because they have a vision they can analyze their own strengths, their competitor strengths, the marketplace preferences and devise different strategies for achieving their vision. After reviewing the pros and cons of each strategic alternative they pick the one strategy most certain to successfully achieve their vision. The entrepreneur knows that their biggest opportunity is always inside their business, following their ideal strategy and not the hot product that everyone is mailing for this week.

Lack of Direction
Having no sense of direction in your business is a good sign that it will fail. Without a proper system, or business process, you’re efforts will be wasted and scattered. Lack of direction also means you don’t have a clear goal or target and concrete methods on getting those goals.

Lack of Determination and Discipline
The last, but definitely not the least of all reasons why people fail to earn online income is they lack determination and discipline. If you’re an opportunity seeker, you’ll be frantically moving from one system to another, not giving enough time for each system to be fully implemented and succeed. Like all businesses, an online business needs effort and attention. If you don’t allot time and energy for your business, it will not succeed. If you have the get-rich quick mentality you’ll fail, big time. You need to be determined to succeed, and disciplined to focus on the system you have carefully selected to reach your business goals.

If you are experiencing the four reasons why you will fail to earn online income through your online business, don’t worry. Here’s four ways to ensure that you overcome them.

To avoid information overload, stick to one approach.
This doesn’t mean you stick to only one system forever. You just focus on one approach first, and focus on learning all about it. For example, if you selected to base your online business on Pay Per Click schemes, make sure you know everything about doing PPC. Don’t try to mix and match methods simultaneously. This way, you filter out the information you receive. Another good practice is having a separate email address for your online business and for your personal use. This way, you can focus on reading personal email and not be distracted with all the email offers and tempting bonuses you get in your inbox. Once you mastered one method you can move on to another.

To avoid having the wrong approach, adopt an entrepreneural approach.
I highly suggest you read Rich Schefren’s Internet Business Manifesto, The Missing Chapter, and The Final Chapter. These are FREE business PDFs that have been download by millions because of their empowering content. You’ll also discover the biggest reason internet business owners struggle and fail and why it’s not too late for you to start and grow a successful business online. To download the said PDFs, just click on the download link at the end of this post.

To have the proper direction in you business, select a good system or process.
Without a proper system or process, you can waste your efforts to earn online income. But how do you know it’s the right system? The answer lies in you. If you know your strengths and weakness, you can easily find a system that fits you, thus making it easy for you to follow it.

To have determination and discipline, ask yourself why you want to have an online business.
It’s easy to start something and if you’re not totally committed to it, it’s even easier to give up. Knowing why you are in this business will drive you to succeed. Perhaps you are in this to give your family a better future, perhaps to give yourself an early retirement. For whatever reasons, just focus on those and you are sure to drive yourself to succeed.
You should also have a good support system. This can be in the form of a business coaching program, friends in the same business that you can communicate with, or through memberships to established online business communities or forums. These can help you when things gets you down or when you’re getting a little lost.

In conclusion, You will definitely fail in your online business if you meet the four reasons above. But with proper guidance, focus, discipline, and determination, you can overcome failure and succeed in your busines to earn online income you deserve.

To download Rich Schefren’s FREE PDFs, Click Here.