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90% of Online Businesses Fail in Less Than 120 Days??? - YouTube
Channel: Anton Kraly - Drop Ship Lifestyle
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- Hey, what's up everybody?
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Anton here from DropShipLifestyle.com,
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and did you know that
90% of businesses fail
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within 120 days?
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Sounds crazy, right?
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Like, nine out of 10 businesses
fail within four months.
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Yeah, I didn't know that either
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until my team and I
started to do some research
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for this video,
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but I have something pretty important
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that you should know about that statistic
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so make sure you watch this full episode
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of Drop Ship Weekly.
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(gentle music)
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So the reason we even started
to look for this number online
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is because we get a ton of
emails to Drop Ship Lifestyle,
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and they're from people that
are thinking of enrolling
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in my coaching program,
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and they're scared 'cause
they say things like
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I know that my odds of
succeeding are so low.
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I know that nine out
of 10 businesses fail,
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and to me, I always thought like,
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you know, I don't think that's true,
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but even if it was, who cares, right?
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And let me just explain.
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I have a quarter here, so a
normal quarter, all right?
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And if I flip this quarter,
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I can say that there is a 50%
chance that it'll be heads.
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So if I'm betting that
it's gonna be on heads,
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then my chances of winning are 50%, right?
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So write in the comments, what
do you think it's gonna be?
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I'll flip it.
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I'm gonna say heads.
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That's what I'm betting on.
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So let's see.
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(hand smacking)
Heads, I won, okay?
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I won.
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50%, that was my chance.
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That was my probability,
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and that is a truth, right?
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If I flip this, over
time, 50% of the time,
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I'd be right if I chose heads.
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Not according to GAME THEORY, though.
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I think it's 51%, but either way,
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close enough.
(quarter clattering)
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Now, that is a truth, okay?
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That's not gonna change over the long run.
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If the stat was true, that
90% of businesses fail,
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is that the same?
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Does that mean that you have a one
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out of 10 chance of
succeeding in the long run?
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No, absolutely not, okay?
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One is based on a fact
that doesn't change.
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The other is based on
probably 10 million variables.
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It's based on you.
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It's based on your business.
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It's based on your work ethic.
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It's based on your eventual team.
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It's based on how committed you are.
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It's based on how much time put into it.
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It's based on what you're willing to do
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that other people aren't gonna do, right?
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So again, even if that stat was true,
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that 90% of people, businesses fail
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within the first 120 days,
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it does not matter at all,
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and don't think, if you have this mindset,
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do not think that that means
if you start 10 businesses,
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maybe one of them will take off.
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That is not how this works at all,
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and even to push further on this,
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again, I never thought that
number was right, right?
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To me, 90% sounded insane,
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and 90% in 120 days, that's like,
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you don't even know what you
have on your hands in 120 days.
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So what we did
(hands clap)
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is we went on Google,
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and we found different websites
that mentioned this number,
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and we saw they all linked to one source.
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They linked to one website.
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Now, I'm not gonna call anybody out,
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so I'm not gonna say what the website is.
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If you Google it, I'm
sure you could find it,
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but on the website, the
source of this stat,
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it says according to many sources.
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So that was their source,
according to many sources,
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not linking any of them,
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and then again, every other
time we saw this stat mentioned,
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it was other websites,
even some as big as Forbes,
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that were linking to this website
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that didn't even give any sources.
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So for anybody that
has this in their head,
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that nine out of 10
businesses are gonna fail,
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again, I do not believe that to be true.
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The only, like, solid
concrete data I could find
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was from the SBA, the Small
Business Administration,
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and I think it was that 80% of businesses
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last past year one,
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which is almost the exact
flip of the 90% myth
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that's out there,
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and then, going on from there,
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you know, more businesses go
out of business in year two,
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year three, year four,
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but nothing like an insane
amount of businesses
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just closing their doors overnight, okay?
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So what does that mean for you, though?
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Well, first of all, it means
your odds are a lot better
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than you might think they are,
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but with that being said,
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it means that you really are
in control of your business.
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With all of the variables,
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with everything that
you're responsible for,
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which is your business,
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there's no reason why
you shouldn't succeed,
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and honestly, if you're
serious about this,
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I think your chance of
success should be 100.
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Now, I was on a podcast yesterday.
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I was a guest on it,
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and I'll link to it
when it gets published,
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I think, next month,
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but the host asked me, "You know,
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"out of everybody you worked
with at Drop Ship Lifestyle,
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"over 10,000 students,
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"what do you think the
thing is, the biggest thing,
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"that holds people back from success?"
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And you know what the
number one thing was?
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It was people not actually doing anything.
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So with Drop Ship Lifestyle,
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I always tell people like, listen,
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if I can't help you make
money, I don't deserve yours.
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I wanna be able to help you get results.
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I want you to build a business
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that can actually make you money
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and give you more freedom in life.
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So what will happen when people email in,
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if they say, hey Anton,
you know, this just,
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it's not working for me,
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I'll say, okay, listen, send
me a link to your store.
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I'll check it out.
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I'll give you some pointers,
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maybe some tips that'll help
with your conversion rate,
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and you know what they say?
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Well, I didn't build my store.
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I say, okay.
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Send me your list of suppliers
based on the research you did
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as you went through the course.
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I'll take a look,
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and I'll see if they're
actually good suppliers
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or if, you know, you need some work there.
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Maybe you need a better list of suppliers
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we can help you out with.
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They email back and you know what,
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I didn't make a list of suppliers.
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Okay, let's go way back to step one.
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Send me a list of niches
you were looking into
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following the criteria I provide,
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and I'll help you pick
one out of your list.
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Well, you know what, I didn't make a list.
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Now, does that count
as a business failure?
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Should that affect the success rate
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of people in Drop Ship Lifestyle
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or people building stores?
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No, because guess what?
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The people that don't do anything,
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they're never going to succeed.
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Now on the other hand,
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you have the people
that build their store,
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that maybe sometimes have
to build a second store.
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Maybe they take three months.
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Maybe they take six months
to get it figured out.
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Maybe it's years in the making.
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We did a poll in our Facebook
group for Drop Ship Lifestyle,
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and we asked how many stores did it take
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for you to become successful?
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Most people said they got
their first store working.
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Some said store two.
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Some said store three,
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but does that mean, for the people that,
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you know, made it work on store three,
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does that mean that one and two,
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are those businesses failed?
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I don't think so.
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I consider it all the same thing.
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It's a journey, right, as
they're building their business.
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So if, again, you're the analytical person
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or you're the person that
looks for statistics,
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if you're out there on
Google and you see that stat
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about 90% of businesses
failing in 120 days,
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again, as far as my team and I could find,
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it is nonsense.
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It is fake news,
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and it's a stat that has now become a myth
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that's been spread around the internet,
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but it's not reality, at
least not from what I've seen,
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and, you know, as far as
whatever stat is true, right,
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80% of businesses making it past year one,
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yeah, that sounds great,
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but that does not mean anything to you
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because it is not the
same as flipping a coin
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and getting consistent results over time.
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It is up to you.
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It is up to the business you build.
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It is up to what you put into it,
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and again, if you're serious about this,
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you're in it for the long haul,
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there's no reason why you shouldn't have
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a 100% success rate in business.
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Now, if you're watching this
and you're thinking like, okay,
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you know, I'm building my store,
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and it doesn't feel like it's working,
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there's some maybe things I could do,
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I've done a video in the past on YouTube
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and Drop Ship Weekly,
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and it's called How to
Save a Failing Store.
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I'm gonna link to that in the cards above.
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I'll also post a link in the description.
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That will give you actual things
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you can implement to your existing store,
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again, if you feel like it's failing
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and you need to improve it.
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So check that out,
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and if you're watching this right now
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and you're not part of
Drop Ship Lifestyle yet,
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definitely go to
DropShipLifestyle.com/webinar.
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I have a free training there.
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It's about 2 1/2 hours long,
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going deep into everything we do,
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my seven-step system for drop shipping.
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It shows you everything that we do
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inside of the Drop Ship Blueprint
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which is my e-commerce training program
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that was voted Best
E-Commerce Course by Shopify,
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so definitely check that out.
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Again, DropShipLifestyle.com/webinar.
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So as always, guys, I'd
love to hear your thoughts.
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Let me know in the comments.
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Let me know if you guessed heads also,
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and yeah, if you enjoyed the video,
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please do give it a thumbs up,
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and definitely click Subscribe
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if you haven't done that
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so you can get notified
every single Tuesday
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when I publish a new video
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right here on YouTube
for Drop Ship Weekly.
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Thank you everybody.
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(gentle music)
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