What Causes an Internet Home-Based Business to Fail?

The list of causes could grow deep and wide and long, but a more reasonable answer would involve the image that is staring back at you when you look into a mirror. “The Principle of New Experience says that by looking deeper within ourselves, by our openness to creating new experiences, we can start changing the external experiences of our lives” ~ Ellie Drake.

It is so easy to point a finger and decide that your home-based business failed because of the errors of your distribution company, (unless you produce your own services or products), the daily television series that you have been chosen to give your undivided attention, and of course the main cop-out answer—members of your household or visitors who engage your time at home. But where does the fault really begin? Now getting back to the image in the mirror, you guessed it! It is easier done than said to blame someone else for your own downfall. Now that we have gotten the ego and the self out of the way, let’s work on the real problems so that your next or present Internet home-based business will be more successful.

Most organizations are committed to improving their commodities or services with fairness, honesty, and integrity. These organizations strive to deliver cost-effective goods or services to meet the needs of all the consumers that they serve and anticipate serving. Products, services, social marketing are all created from the needs of consumers, whether it be via category creations, research, or the inadequacy of the necessities of the consumers. There also has to be an evaluation of the values and expectations of the consumers in order to produce the best servicing in as much as respecting the values, needs, cultures, resources and strengths of the consumers. How much research did you do before you started your business?

What do we already know? More consumers are obtaining Internet access, and they are shopping and buying online by comparing the online products with the traditional store prices. Virtual Shopping provides a wider range of search capabilities for the consumers, as well as reduced prices. The successful purchasing power of virtual shoppers relies on their perception of the presented visibility of the consumer goods. The consumers are focusing on how well the products are presented to them, and they also rely on the research of the products, which yields a direct comparison to the traditional store products. It is most relaxing and time saving to be able to compare products in a business environment or home, instead of spending an entire day on the telephone on hold while you are waiting for a price check, or driving in bad whether, only to find what you need to purchase is unavailable. Virtual shopping can be entertaining and enjoyable. The needs of virtual shoppers will continue to determine the future virtual shopping improvements. It is much cheaper to establish an online store, including the overhead monthly or yearly charges, than a traditional walk-in store, and this is the reason why the sellers can reduce the prices. “In the mental geography of e-commerce, distance has been eliminated. There is only one economy and one market. The competition is not local anymore -- it knows no boundaries (Bourque, 2000).”

Online companies have learned how to become experts in attracting customers by creating intimate customer relationships through providing efficient online services such as:

§ Introductory screens for prospects or new customers

§ Welcome back screens to ongoing customers

§ 3-D home improvement services

§ Online grocery shopping

§ Online mailing needs

§ Online viewing of catalogs

§ Medical virtual reality services

§ Product research

§ Order tracking

§ Lists of literature

§ Popular or full product lists

§ Informational chat lines

§ Front-end and back-end marketing tools

§ Related links

The most powerful business research and information will not build a successful business without the successful building of the mind. Stop thinking about the failures and start living the successes.

Deborah J. Akridge

Citation:

Bourque (2000, January). What the organization must do to compete in the next century. New Hampshire Business Review, 22(1), 3-4.

Deborah Akridge Life Style Mentor and Successful Entrepreneur, is helping many become the next success story.