Why Most Online Businesses Fail

And How NOT To Join That List.

Hello Friend (sorry, I don’t know your name).

My name is Chris Godfrey and I’ve been working for myself from home, from shared office space or on the road since 2011.

I’ve always worked in the online business space, but also mostly always coupled with real life businesses!

My journey started long before 2011, keep winding the old clock back to 2005-2006 and you’ll find a younger and skinnier me reading my first blog and other articles about the amazing magic of “earning money while you sleep“.

From memory, that was the first catch phrase (it was on REPEAT back then) that made me straighten up like a Deer in the headlights.

Now imagine a Deer enjoying a lazy and quite graze out in the woods, when the first moment he realises he’s stepped out onto a road, is the same moment he’s staring blankly down the headlights of a Semi-Trailer, steaming towards him!

I Was That Deer.

I am the Deer.

And I believe that 99.9% of people are that Deer when they both hear about the amazing possibility of online business, AND ALSO start to dive into it trying to figure it out for themselves.

That split second before the Deer gets hit seems like a decade to him, and the time from when someone learns about Online Businesses and earns their first $1,000 online can actually very easily be a decade, that’s if they last that long.

Are you like the Deer too? Waiting for something to happen? Wondering what is about to happen and how you’re going to figure this problem out REAL fast?

Comment below: “I am the Deer“, and help other people realise that they are not alone feeling lost and naked in the middle of a highway.

The Problem With Online Business

When I was new to this, back in 2006. I thought that online business was exactly and only that: “online business”.

If I had of been able to do the impossible, which was being able to see through the smoke and confusion that was in fact funnily enough, trying to help me. I would have been able to quit my job, earn triple my 9-5 salary and work for myself years earlier that what I did.

The information about starting and how to be successful with an online business is smothering.

There is too much it.

Tim Ferriss the author of one of my early pivotal books The 4-Hour Workweek, interviewed a guy named Derek Sivers who I hadn’t heard of before. But if you were online in the late 90’s and early 2000’s, and you were buying CD’s from real independent bands, you probably visited his site CD Baby at least once.

Derek Sivers sold CD Baby for $22million cash in 2008.

In a interview between Tim Ferriss and Derek Sivers more recently (2015 or so I’m guessing), they were talking about the information age we’re in and how information alone is not the answer, and this conversation summed up the problem with learning how to start a successful online businesses perfectly.

It’s the example that I now use to explain it to clients of mine who are not always new to business, but are at a beginner level when it comes to online business.

Derek Sivers said:

If all we needed was “more information”, everyone would be rich with 6-pack Abs!

How beautifully said is that!?

There is literally, and I mean LITERALLY hundreds of thousands of pages, videos, blogs, articles, audio and courses online and offline too that cover:

  1. How to get rich.” And:
  2. How to get 6-pack Abs.

Do you agree?

Yes? If you agree, let the other people reading this know that this concept is worth their time to consider – Write another comment below and say “agreed”.

The BIGGEST Headache

This biggest headache with online business is that there is too much information. 

When we dive into it, to learn it and to reach our financial goals – we become Deers in headlights.

Building a Successful Online Business is Like Building a Reliable Engine.

Building a Successful Online Business is Like Building an Strong Engine.

You don’t need to be a mechanic, this is just a great example that I use to explain this.

Imagine that you lived your life in a leather saddle, on the back of a horse. You were the mail man for your town and every day you had to ride your poor horse from one side of town to the other, non stop for 10 years.

Eventually, your horse dies. It worked hard and lived a harder life. You’re upset, your kids are upset and you don’t want to put a horse through that painful job again – but you still need to deliver the mail and put food on the table every night for your family.

You’re at the bar, sinking a few lagers on behalf of your dead horse when you hear two people at the other end of the bar whispering about something called an “engine”.

You slide off your bar stool walk over to them. You tell them you’re about 2 days away from having no money to feed your family and 2 weeks away from the bank taking your families home.

The two men look into your eyes, through to your soul and see your pain. So they tell you ALL about it. 

They explain that this “engine thing” is made from metal. It’s very strong and it will propel you from one side of town to the other in just 40 seconds. You’re obviously excited. The two men admit THEY’VE NEVER built one themselves but they know someone who did and now he earns 10x as much money than he ever did before because now he has one of these “engines”, he can get 10x as much work done in one single day! 

Now you have the solution! Your were about to fall splat on rock bottom, BUT NOW you’ve heard about an engine and what it can do!

(The “engine” of course, is just another way to explain how people hear about “online businesses” and the amazing possibilities that are available. What happens next as I’m about to explain.. is exactly what happens when a dedicated, eager and hungry individual starts trying to learn everything they can and launch their own profitable online business.)

You now realise and know that all you need to do is build yourself a engine, and all your problems will be solved, AND PLUS.. you’ll be living your dream life earning 10x as much. You’re imagining how happy your wife will be, what this can do for your kids, your new big house..

So you run to a computer (yes, you ride a horse to work and own a computer.. stay with me here) and you start:

  1. Reading blogs.
  2. Watching youtube videos.
  3. Downloading engine manuals.
  4. Listening to interviews from Master Mechanics.
  5. Subscribing to email newsletters to find out what’s new and important in the world of engine building.
  6. Gathering, saving and digesting ALL THE INFO YOU CAN!

And this is when the majority of online businesses start to take the wrong turns – but you don’t even notice you’ve turned the wrong way. From all the information you gathered and stuck together.. the roadmap to your goal said TURN LEFT, LEFT AGAIN, TURN RIGHT, so you did.

You find so much information about engines, it’s truely amazing. You save it all, and consume everything possible.

What you missed, and what the two guys at the bar didn’t tell you (because they didn’t know either), was that you missed the most important, very first turn. You never asked yourself.. “What type of engine do I want?

12 Months into your search and you STILL don’t even know that you’ve been off course since you missed your first turn, which was asking what type of engine you wanted (or: ‘what type of businesses you wanted to build’).

All you know is that you need an engine, and you’re smart enough. You’re dedicated, you’re not afraid of hard work. You’ll stay up to 2:45am every night, sacrificing sleep just so you can get this done!

You’ve been busy, the engine parts start arriving at your house, you’re showing your wife this is the “whatever”, and this is the “other thing”, they go together like this and they do THIS, you’re wife is excited and so are you!

You think you’re building your engine.

But what you have is one part of a lawn mower engine, and another small piece from a steam boat.. and you still don’t see that there is any problem.

You’re engine, no matter how hard you try, and no matter how you manage to stick these parts together… will never, never work.

Online Businesses Are the Same

Thousands of people across the globe are doing this same thing right now with the hope of reaching their goals with their online business.

They are the Deer in the headlights, staring blankly at the mountain of information they’ve gathered. They’ve read, saved and consumed SO MUCH of it. There is gigantic piles, and gigabytes worth of information about:

  • Websites.
  • Sales Funnels.
  • Email lists.
  • Google Display Ads.
  • Link building.
  • Headline tricks.
  • Slogans like “the riches are in the niches”.
  • Landing pages. 
  • Blogs.
  • Email sequences.
  • CPM.
  • CPC
  • Monthly visitors.
  • 14 contacts of people who will get them to the first page of Google.
  • Affilaite Marketing.
  • Drop shipping.
  • Domain names.
  • Video & Image editing software.
  • WordPress
  • Logo designs.

And that’s just the tip of their ice berg! They are a Deer, looking into headlights – and they don’t see the SEMI. They think they are a Deer with laser focus, and that’s the problem.. focusing on the right thing/s.

So How Do You NOT Join This Group?

The cure starts coming to the surface when you realise (and more importantly believe) that you must decide on what type of engine you want to build.

This decision is so very important because it’s not just knowing what parts you need to organise, buy and master. The most important and powerful knowledge you’ll gain after deciding what engine you’re going to build is knowing what parts you can ignore (because there is more to ignore, than what there is to focus on).

The very same thing is true for online businesses. Trust me, years ago I became a un-certifiedmaster mechanic“, and I’d never built one engine!

A mechanic who decides what engine she or he is going to build, is the same as a hungry soon-to-be entrepreneur deciding what EXACT product/service/business they are going to launch online and EXACTLY HOW they are going to do it.

I believe this to be true for all parts of our lives but especially for online business, and also for each different segment of online business.

For example, there’s too many Facebook Marketing strategies to mention, and that’s a big problem. If you try to execute them all, you’ll unlikely execute any.

Chinese proverb says:

“The man who chases two rabbits, catches none.” 

When I first heard that, I pictured a man on a grassy hill chasing two different rabbits at the same time running around in circles – I’ve remembered it ever since.

Facebook Marketing

If you want to attempt to master Chatbots, Video Ads, Facebook Group Hacking, Share-to-Like ratios and countless others – be my guest and chase 17 rabbits.

If know what engine you want to build, and if you want one formula for Facebook Ads go here now.

You don’t even have to follow my formula to marketing and selling your products/services on Facebook, there are others out there. Most of them are worth the money you’ll invest – if you stick to that and only that, and don’t get distracted by something else.

My formula is just one that you can follow from Step 1 to Step 18 as I walk you through the 18 different modules, covering all the parts of the machine that you need to know to market to, attract and sell to your best customers. To read and learn more about what’s in my course, CLICK HERE

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