You might already be familiar with the survivability stats for new start-ups that are commonly cited by entrepreneurship evangelists…
Out of every 10 new start-ups every year, 5 of them will go belly-up in the first year.
Out of the survivors making it past year 1, another 50% of them will cease operations at the end of year 2.
And so on, until only the top 1% make it at the end of year 5.
[The stats are across all industries and according to the company registrars that help these companies and sole proprietorships incorporate]
I don’t exactly know the stats for individuals coming into internet marketing, but I think it could be something similar.
A case in point, I’ve helped sell coaching programs, where we work 1-on-1 with new internet marketers, or people who say they want to make a living on the internet. These guys shell out close to $10,000 a head to enroll in these programs. They’re all fired up in week 1, just raring to go.
You ask them to research 5 websites, they research 50. But somehow when it comes to implementing the project later in the program, there’s some resistance and inertia to getting started.
Some may blame “affluenza” or middle class syndrome. If there (more…)