10 Common Mistakes/Errors That Can Be Made When Starting an Online Business

31/12/2012 13:48
If you are interested in starting your very own online business is extremely important to learn from the mistakes that other people have made in the past. Creating your own Internet startup will be a difficult process and it’s very important to do the research ahead of time so that you can ensure a much better success with your business. Many Internet startups will fail within the very first year so it is extremely important to avoid some of the more common mistakes and errors that are made in online business. Here are 10 common mistakes that people make when starting an online business.

1. Committing to one idea: if you have one specific idea for your marketing plan, client base, or even areas to sell your products it may not be wise to simply stick with just one plan. Creating backup plans as well as trying a number of different online services to market your products will help to ensure that you get the best value for your money. Trying just one service, or listing your products on just one website may not give you the exposure that you need to succeed.
2. Not looking into free resources: there are a number of excellent free resources online that can help you with SEO, creating a webpage, marketing your products and more. Using these free resources is much more cost-effective for a startup company than hiring a third party to promote your products.
3. Not creating a business plan: a plan is extremely important, in an Internet startup you will need to be able to think far into the future as well as create a few backup plans for how to adjust your business should your existing plan fail to work.
4. Not creating business goals: strong goals will be what motivates you to continue your business. If you are interested in making $1000 worth of sales within your first month, this will be the goal that drives you forward. It’s extremely important to make your own goals as you are your own boss and will need a way to motivate yourself to succeed.
5. Not doing research into the competition: there may be a number of companies that are doing the exact same thing that you are planning on doing. If you cannot create a unique service or method of improving on their service, you may not have the same success that your competition has had in your market.
6. Not having the right amount of startup money: although some Internet startups have been created using minimal amounts of money, you may need to invest a bit of money to create a professional looking website or to promote your products. There are some excellent resources available online but trusting an expert will help to make sure your idea gets off the ground quickly.
7. Printing promotional material and business cards: it’s very important not to produce this type of material until you are an established business. If you can land a few contracts do this first so that any potential client that you give a business card to will be able to consult people who you have done great work for to hear about your services. Printing this type of promotional material can be very expensive for a start up.
8. Stopping your marketing or expansion: once you begin getting a few orders it’s very important to continue promoting and to continue marketing your products. Just because you may be busy completing orders for clients, this does not mean that you should forget about getting future work.
9. Thinking that your product will promote itself: the Internet contains billions of websites and thinking that your product will get any sort of special treatment or that your website will be able to rank itself all on its own, is a bit preposterous. You will need to work to market your skills and you will really need to work to get clients and to fill orders.

10. Quitting: just because you face a minor setback such as a customer wanting a return on your product, does not mean you should quit. It’s very important to continue on marketing and selling your product and services online. You are the one that dictates your future and whether or not your business will succeed, quitting is just opting out of your future success.

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