It is said that before we learn how to run, we must first learn how to walk. And in the process of learning how to walk, we stumble from time to time. No big deal, though. It’s part of the learning process. Experience, as many claim, is the best teacher, and experience entails some failures here and there. In this light, it is not uncommon to see startup Internet business ventures making some mistakes of their own. The sad part however, is that other businessmen actually capitalize on these mistakes to earn some profit for themselves at the expense of the novice online entrepreneur who would just be left bewildered by so many promises that are bound to be broken.
Though mistakes are but natural, and oftentimes necessary for eventual success, there is a clear need to take some precautions to avoid those errors that might prove fatal for the business. Indeed, we can learn from our mistakes, but there are those that produce dire results from which we may find hard to recover, if we could recover at all.
Here are 7 common mistakes that beginners in online business usually commit. It is hoped that by knowing these errors, better judgment can be observed to avoid them.
Believing that you can earn overnight. Though there are instances when Internet businessmen do earn within the first 24 hours after they go live, this should be taken as the exception rather than the general rule. The fact is, online commerce needs some patience on your part. A sustainable business will require some time before it could fully spread its wings to take flight.
Believing that you can earn even while you sleep. Though this is very, very possible, do not expect it to be instantaneous. You will first have to automate your business system. This includes fine tuning the performance of your website as a traffic generating machine, polishing up your sales page or pages for a profitable conversion rate, and building a mailing list filled with quality sign-ups through a reliable autoresponder service.
Being a one trick pony. You cannot rely on one income stream alone. Try to incorporate as much as you could for your online venture. For example, overdependence on but a single product would leave you in the dumps when the market life for the same runs its course. Try to develop new products at a consistent rate. If the engine of your business is a Pay Per Click (PPC) program, try to update your content often, as this is what your visitors will be after.
Resting on your laurels after initial success. Remember, you shouldn’t after a onetime success. You should strive for sustainable success, meaning, success that would serve you for a long, long time. This would require a certain degree of commitment from you, as well as a passion to always do better regardless of your previous conquests.
Believing that online business can be established without having to spend a single penny. There are essential expenses, of course, and unless a friend or an acquaintance would provide these for free, you would have to pay for them. These include domain names, web hosting, autoresponder subscription, products to package as bonuses, viral marketing paraphernalia and other things beneficial to the successful operation of your online enterprise.
Failing to invest on knowledge. Most online businessmen would spend their initial earnings on things that they have long wanted, without reserving any funds for matters essential to the business. Knowledge is a continual investment. The online business landscape is a constantly changing field, and failure to update your self of the latest trends would be a very big mistake indeed.
Failing to improve your business. Your online enterprise should always keep up with the times. This would have to include regular adjustments and tweaking to optimize its performance and guarantee continuous success. You have the leeway, of course, to commit these mistakes, as you will eventually learn your lessons anyway. But prior knowledge of what should be done would make those errors unnecessary, and you would be able to save valuable time and resources by doing things right the first time around.
About the author:
Paul Duxbury is a successful online entrepreneur with a number of income generating websites. He has recently launched http://www.web-success.co.ukwhich provides advice and information to online homebased business owners and those who want to be online entrepreneurs.
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