It is feasible that the percentages for IM business failures is very comparable if not higher than that for offline businesses. There are too many reasons why businesses fail, and of course a large number of them will never be known. But if there was any one single greatest reason for failure, it would be making errors and miscalculation of all kinds. However, when someone goes down in flames and they have failed, then that is enough for most people to cause them to quit.
Just one mistake concerns the thought that if you offer enough things to your readers, then that will be a broad enough net to cover most situations. We all enjoy having options, so it is an understandable feeling to want to provide them to potential customers. However, alternatives are often a destroyer of sales, but yes it can hinge on the situation. The thing is, it has to do with human nature – in certain situations people have a difficult time with decision making. Buying choices are very tough for a lot of, if not most, people to make. Purchasing indecision is perhaps the perfect killer of sales.
All of us tend to assume others think the way we do; and that is why you should not think everyone is cheap simply because you may be. Look all around you, there are low priced, inexpensive, and outrageously priced goods and services in all markets. Products priced in the upper stratosphere have been known for a long time. The simple fact that they have existed for so long automatically dispels any myth that all people are cheap. People want to spend a lot on certain things for their own motives. The critical thing is for you to understand the marketing psychology behind expensive items. It is possible that a lot of people have had that sort of thought. On the other hand, over the years there have been several products that seemed to appeal to everybody. The justification you have to avoid this idea is it will sabotage your efforts; you will start to slack off and lose the marketing fire. Not everybody will want to buy from you, or your product or service.