I think one of the major reasons is lack of advertising and not being fully prepared.
Online businesses are too easy to jump into with all the templates there are out there. People come up with an idea and run with it not fully understanding the rest of the business principals and the work involved.
Lack of advertising is a huge factor to me.
I've read many sample business plans that have a paragraph or two on their advertising/promotion and have asked many others what they do for this area. Many answers are quite bleak and some just don't really know what it is.
I wrote out 4 pages on this in my business plan I'm writing now and that was just off the top of my head and it only took twenty minutes.
|