As virtual assistants, I am sure that many of us have seen firsthand the things that keep business owners from succeeding online. I am not sure what the statistics are because there seem to be so many variations, so I won’t share. I do know from experience (I tried at least a couple online ventures that did not take off) and from talking to prospects, that the following seven reasons are some of the factors that contribute to the failure of online businesses.

1. No Action. Have you ever decided to take up a new hobby, (eg. golf) go out and purchase all the equipment needed and then never go to the golf course? Well, this is an obvious reason but nonetheless major reason that some businesses fail. Purchasing the material, doing the research, even setting up a website will lead to nought if you don’t take action!
2. Unrealistic Expectations. Its funny how some people believe that all it takes to make money online is to setup a website and tell a few friends about your business and like magic the money starts rolling in. Most often, these are the people that give up before giving the business a chance to succeed.
3. Lack Of Commitment or Divided Commitments. A lot of people start their business on a part time basis while they work full time outside the home. This can sometimes contribute to the failure of their online business as some quickly loose the commitment that is necessary to market and grow the business.
4. Responsibilities at home. Lets face it, most people start an online business so that they can work at home on their own schedule. This can be the downfall of many. Inability to manage time and divide priorities can contribute to business failure.
5. Cutting Expenditure in the wrong places. I will be the first to advise that is not necessary to have a huge budget to start an online business. However, it does take some money to get things going. When you decide to go take your business online, a domain name and website is necessary and your best bet is to NOT use the free options that are available. Your online presence is a representation of you and you should put your best into making that representation as attractive and effective as possible.
6. Failure to plan. What happens if your idea does not take off? What happens if it does and your business becomes an overnight success? What do you expect of the business in the first year? The first five years? By not having a plan you are planning to fail.
7. Failure to delegate. You knew I would say it! A vast majority a businesses fail because their owners try to become everything in the business. Many try to justify their actions by reasoning that they are saving money by doing everything themselves. They do this at the detriment to their sanity and to their businesses. Show me a business that is succeeding online and I will show you a business where the owner is delegating the tasks that are better left to someone else.

There you have it, my list of seven reasons that many online businesses fail. As the old saying goes forewarned is forearmed so think about the things that you are doing or not doing and give your business a fighting chance.

I only recently started another site, Free To Be You Designs, that gives me an outlet for pent up energy and a medium for relaxation. Its going great so far and since we are celebrating our 6th Anniversary here at Five Star Executives, I thought, what better way to celebrate than to host a giveaway for my fellow virtual assistants

Yep, that’s right, something for my fellow VAs. A chance to win a custom designed Wordpress theme for your blog or website (if you run your website on wordpress). Right about now you probably have a few questions so I will try to clear them up below.

What Will I Really Win?

The winner of this contest will receive a completely customized wordpress theme to match his/her business identity.  So if you have been struggling with or tired of looking at your old WP theme that everyone else has, this is the contest for you.

What If I Do Not Have A Website Or Blog?

Here is the great part. If you currently own a website, I can install wordpress for you. If you do not own a website of blog at all, just purchase your domain name and I will give away free hosting for one year!

How Do I Enter?

Recently there have been so much confusion about what qualifies a person to call themselves a VA, that sometimes we loose site of the “blessing” that this industry has been to many of us. It certainly has been a blessing to me. So all you have to do to enter this contest is, leave a comment saying why you will like to become a virtual assistant or what being a virtual assistant means to you.

That’s it! Please do so before September 30th, 2008 and consider that your entry. If you write (linkback) about this contest you will automatically receive a second entry.

When Will The Winner Be Chosen?

The winner will be selected and notified on October 3rd, 2008.

I look forward to working with the winner, but I am getting ahead of myself, go ahead and leave your comment below

There have been many ups and downs. Times when I felt like throwing in the towel and other times when I couldn’t imagine doing anything else. I remember when I decided to start this business, I went out to Office Depot and Target in sleepy Jacksonville, FL and purchased everything that you can imagine for an office.

Boy was my start up cost high. Looking back, it didn’t need to be. Upcoming VA’s, don’t run out and purchase a whole lot of fluff , it really was not necessary then and it certainly is not necessary now.

My very first client, actually I took on three new clients all at the same time. They were the local hairdresser, the Avon lady and a convenience store. I made a total of $125 for designing their fliers It was not virtual but their referrals brought me a lot of virtual work over the upcoming months. Some may say that I got off to a good start but by the 4 month I still was not making anything near what my salary used to be.

I realized that I really had to start talking. I practiced my speeches at home, I am a virtual assistant, I …..I was more than prepared whenever anyone asked what I did, now that I left my “big time” position. I was more than ready but I quickly learned that my speeches could be more effective if I spent time listening to what others had to say at my local networking efforts. Boy did I ever listen! I went home at nights and composed drafts for emails to send to those I had spent time with and invited them to lunch where we can further discuss their issues.

I gave some of them temporary solutions, offered my assistance and gained their trust. I gained a few friends and later gained more than a few retainers. One if my very first,  Jason Connelly from Just Media in Valley Stream, NY. This came because I took some time to assist a small business owner in Jacksonville, FL and he new a friend, who had a friend who needed assistance with his inventory!

From their it was all just one glorious blur. I cannot thank my loyal clients enough for all the support and patience with me, especially Marva Hewitt, for becoming my guinea pig with the many conferencing and collobortion programs available.

I want to thank my clients and friends for all the candy and flowers, but really, this is my time to give something back to you. Thank you all for wanting to play a part in my upcoming plans for Each One, Reach One, a program for disadvantaged teens.

I especially want to thank my precious team, cause I just couldn’t do it without you. To Merlene, Frank, Cynthia and Wally, we butt heads from time to time but its all in good fun.

To my fellow virtual assistants, who have all pitched in to help when I am drowning, Carlana Charles, Renee Bouchard, Jennelle Thompson, Alicia Donaldson, Terry-Anne Redhead, Amanda Gould, Christine Alexander, Camelia Joseph. You have my eternal gratitde.

I did not want to make this a speech but it already is so I finally must say thanks to the faithful prospects who have waited to get on my waiting list. There is light at the end of the tunnel and the wait is almost over.

We six years old, we’re six years old! I cannot wait to see what the next six years bring.

Crystal

1. Goal  or clearly defined plan - you must have a goal, or else you can end up pushing in the wrong direction.

2.Target Group - the group you will target for the sale of cars will not be the same as the ones you target for chewing gum (well hopefully).

3. Focus - as with everything else, you must not be easily distracted and be spasmodic if you want to achieve your goal.

4. Committment - there must be a conscious decision to achieve, and to carry through with those things that a necessary to achieve.

5. Appeal - if you are selling a house, it must be presented in such a way so that the buyer will want to ignore the rest and choose yours.  Whatever it is that you are selling, whether its ideas, service or goods, it must have appeal.  The benefits must be apparent.

Now these are by no means a complete list, or given in order of importance, they are just noteworthy.  So I hope you’ve noted them.

Mb

Five Star Executive

Among my favorites is twittering and virtual assisting.  Twittering because it puts you in touch with friends, colleagues, relatives, anyone, in real-time.  Its a micro-blogging service, or I’d prefer to say tool, that keeps you in touch with no hassles, no formality.

Virtual assisting because it benefits both the virtual assistant and the small business person who decides to hire one.  With the advantage of time, which now becomes quite flexible, and each loving what they do, I think it doesn’t get much better than that.  Well of course, the computer will always take first place since without it, most of us will be terribly disadvantaged.

Mb

Five Star Executives

Sharing your ideas and listening to those of others is a great “recipe” for growth and expansion.  For example, the idea of a virtual assistant can only work if small business owners see the need to focus on business building and expansion

So the point to glean from all this is merging ideas can result in powerful resource tools as the virtual assistant is to small businesses.

Mb

Five Star Executives  

The feeling to quit is probably a natural feeling, but that’s all it is; a feeling.  Something that comes and goes.  This now brings me to the real point.  Making the most of any given situation means going beyond feeling and acting rather on principle.

The world of business is operated on a principle, and as a virtual assistant, that principle bears a whole lot of relevance.  As a small business owner, that principle, depending on how its applied, determines success or failure.

So when the obstacles roll in, find a way to ignore the feeling, but instead maintain your focus, become creative, even innovative, whatever you do, just press on, and do make the most of it.

Mb

Five Star Executives

1.  Did I do my very best in all the circumstances that I had an opportunity to?

2.  Did I make my customers feel that they are special and give the quality of service I’d give if that was the only customer I had?  Cause as a virtual assistant, the best temtimonial is the one from a deeply satisfied customer or client.

3.  Did I use my down time to improve the quality of service I offer?

4.  Am I satisfied with my work ethics?

5.  Do I love what I do, because if you don’t, the answer to all the above will be no.

As always, have a great weekend-time is precious, spend it wisely.

Mb

Five Star Executives

If you are building your own business, make it worth the while.  Utilize every relevant tool, every good method, every valuable opportunity, as long as it will be worth the while.  One thing I should warn you about though, is taking for granted the effectiveness of simple tools and methods.

Getting help is a simple tool and it can make a world of difference.  As I said, whatever it is, just make it worth the while.

Mb

Five Star Executives