You’ve likely heard that most traditional businesses fail in the first 5 years, right?
The question is, why does it take so long?
Well, you might think it’s the determination of the person who started the businesses or it took that long to run out of money. Both might be right.
But, in the online world, you can fail much faster, which is a good thing.
Why would I possibly say that failing fast is a good thing?
Because in the online world we set out to succeed of course; however, when it comes to “getting it right,” we always test our theories with a very low starter budget, like $5 in the case of a Facebook ad campaign.
I’ll test several “ideas” and when I find one that works, in other words, creates adequate profit, I scale the campaign and increase the budget.
By using this simple and easy strategy, I don’t spend much until I know I’m going to make money and the really good news is that once I’ve got the winners working, the more I spend, the more I make.
As I scale the campaign, I can tweak it and see if I can make it better, to make even more profit with the same expenditure.
If my initial campaign fails, I know it in just a matter of a few days and it’s cost very little to figure it out. This means, I can now move on to testing other or new ideas.
So you see failing online isn’t the same as failing after a heavy investment in a traditional brick and mortar business.
And even better, there are ways to increase the speed of your journey to having a successful online business.
In the coming days, I’m going to be giving you access to my free report; The Path to Online Profits and launching my new Academy. The report is a step-by-step guide that I’m sure you’ll get a lot out of.
I’m also going to be giving you even more usable tips and tricks in the coming weeks on creating a successful online business. I’m sure you’ll find them very helpful as well.