Coping with failure in your online business
Coping with failure in your online business and what you can do about it. I thought this would be an appropriate message because as an affiliate marketer, you spend an enormous amount of time working on your own. Without having a support staff or other people around it can be difficult when you hit a roadblock. This can be discouraging and cause you to want to quit.
The sad truth of this business is that majority of the people are going to fail, and l want you to realize that – you’re going to have your share of failures. It doesn’t matter how smart you are or how much research and preparation you’ve done…
There will come a point in time when you fail. That’s just the way things are. You do not have to like it, but you do have to accept it.
Here’s the difference between those marketers who make it and those who don’t succeed online. It comes down to one simple factor – resilience.
You see, the successful marketers keep on going despite failure after failure. Here’s the interesting part – even if you are seeing success in one area, there is NO guarantee that you won’t fail in other areas.
Failure is a part of success.
Here’s a real-life example, have you ever looked at the track record of successful movie studio or actor? I’m sure you have noticed that you will see a string of blockbusters, followed by a movie that’s a dud. It’s so bad that the film doesn’t even recoup the costs of production.
So why does this happen?
It happens because there’s a disconnect between what the creators think will work and what the market wants.
It’s very difficult to predict what will be a hit. You have to create/promote products which you think will work – and let the market tell you what it thinks.
So, when you do encounter failure in your online business, it’s normal to feel dejected. But don’t stop. Analyse what went wrong and fix it.
You may have expected your book to sell hundreds of copies, but it only sold 5.
Your work which you thought was awesome received unsatisfactory feedback.
Your drop shipping business may collapse because the supplier you were using wasn’t legitimate and honest.
There are countless ways things can go wrong. What matters here is your attitude when failure comes knocking on your door.
Will you decide that an online business is not for you and quit? Or will you analyse what caused the failure and try to remedy the problem and try again?
The answer is obvious. You’ll do your best to figure out what caused you to fail, and try again after you fix what caused you to fail.
This is known as iteration, where you repeat the process over and over and generate several outcomes until you succeed. Success is inevitable if you do it this way.
Look, success takes time and effort, and that’s fine. Remember, you haven’t failed until you quit. But if you keep going, success will become a reality.
Where does this leave you?
Failure is never final. It’s merely feedback, as hard as it may be to swallow… it’s always useful feedback on what doesn’t work.
You may write 3 books that are flops, but your 4th one may be a bestseller. You may create 5 niche sites that fail, but the 6th one may end up becoming a very popular authority site which makes you thousands a month.
The only way you’ll discover what works is to keep creating and putting your work out there. Let the market tell you what it thinks.
With time, you’ll develop an innate understanding of what works and what doesn’t. From here you will be able to make wiser decisions which will improve your rate of success.
To conclude, the key to success in business or in any worthy endeavour in life will be to embrace your wins and study your losses. You’ll always learn more from failure than success.
Failure is an attitude, not an outcome.
See you next week,
Paul