Mistakes And Fatal Business Errors And How To Avoid Them
I'd like to talk about some of the most common mistakes that people make when they start an online business. The biggest mistake is going after one big thing. People tend to get focused on how a new gadget works or they get excited about just one product that other people seem to be having luck with. They start chasing after how to make money. This is one of the worst things you can do.
Just jumping into doing an online business without doing any research or looking at the numbers can be another big mistake. Make sure you have a market for what you will be selling. You need to understand that other people might not be interested in the product that you have. I was working with a client and I told her that there was not a market for what she was selling. She sold it anyway and failed.
The product you have might be something that is good, but if you jump in the waters without seeing if there is a market for what you are going to push, you will fail.
Another mistake is not building up your character so that people can relate to you and believe in what you are doing. Make sure that the paths you take that you keep a good reputation. Lot's of people can do research online, so if your path doesn't stay clean, someone will find out about it.
You have to also do more than one thing to push your product. For example just blogging without doing anything else isn't going to work. There are lots of different social media outlets that you can get yourself involved in. You have to be willing to go into areas that you have never explored.
Not having enough money to run your online business is another big mistake. Internet marketing may look like it is free, but it is not.
If you want to test your product to see if people will be interested in it, the best thing to do is a pay per click ad campaign. You have to have enough money to go off and do this kind of testing. Things will go so many ways and you have to be able to stick with it to get your best results.
You can't spend all of your money on just one thing either. I knew of a person that spent $60,000 on a website. That person could have outsourced it and got it cheaper. When the time comes to marketing your website, you won't have the money that you need.
Other mistakes that I see people doing all the time is going into business without making a business or marketing plan. You have to be able to say that this is what I'm going to be doing every day to make this work or it just won't.
by: Reed Slidell.