Major Online Business Errors
I modified this article from a PLR. It points the way to avoid failure in your Internet business. I also added some comments to show you how dumb I have been.
1. Being too caught up in the hype and excitement of getting rich quickly.
This can be a very discouraging mistake. The lure of easy money and instant riches leads to hasty actions and poorly thought out strategies for success. Failure can bring valuable experience but those seeking fast riches leave or switch before they learn from their mistakes.
Avoid the hype and excitement and realise that the only way to get rich on the internet is to work hard. Take a look at other people's web sites and their business models and learn what they are doing that works for them. Consider how you can use this knowledge in your own business.
Comment: Have you been cought in a gurus funnel where he drained your pockets?
2. Impatience for success or not knowing how success is achieved.
A key factor causing online business failure is being impatient for success. This usually means that the business owner does not know how success is achieved within the business they are in. They often don't even realize that they are in business. Due to impatience, research is not conducted and time and money is spent on fruitless activities.
Here is what you need:
a. A continuing supply of prospects.
b. A product or service they are prepared to buy at a price they are willing to pay.
c. A way of providing this product or service in a timely and satisfying manner to the client.
d. A way to run your business process at a profit.
You need to know your business and how money is made. Concentrate on the activities that will give you the greatest success.
Comment: Have you thought that just having a website will bring in the dough? Whoops!
3. Failing to determine who your target market is.
This can take two forms:
a. Everyone will want to buy what I am offering.
b. I know they are out there somewhere – I hope they will find me.
In either case, the end result is ineffective promotion and advertising of the business. Time and money is wasted on promotions that do not reach the potential customers.
In every business, a profile can be developed of the likely people who will buy the product or service. When you understand the best targets of your offer, you are then in a strong position to concentrate your marketing efforts on reaching them. This will be more profitable than trying to market to the whole universe.
Comment: Have you built a site with what you thought was useful information and had almost no traffic? Humm!
4. Going for the "big bang" instead of testing .
This can be described best as rolling out a full advertising campaign without having tested the see whether the ad works. The ad variables have not been identified and tested. The result again is usually significant disappointment with the results and wasted time and money.
Always test and fine-tune your efforts. To jump into a major marketing campaign with a significant budget without testing is a sure-fire way to financial disaster. Test and be sure. Change ad headlines, wordings, offers, etc., until you know you have your best chance of success. Test everything – including the target market your ad or campaign is aimed at.
Comment: Have you been too impatient to test? Have you ever thought, "This is a humdinger ad!" and then found that nobody gave two hoots about it?
5. SPAM!
Don’t get caught up in the lure of easy money through sending millions of emails to people who did not request them. The normal thinking in this process is that if 1% of people respond to my offer then I’ll be very rich.
However, your ISP will close you down, denying you access to the internet, your web site and email is bombed, and you are published as a spammer and people are discouraged from doing business with you.
This is not the way that a professional conducts business. A professional is in business for the long run and is keen to develop relationships with prospects and clients. SPAM will NOT enable you to achieve long term business success.
Comment: Have you ever paid $1000.00 for a million emails advertsiing your product and recieved not one penny in return? Darnn!
Always remember that long term business success requires hard work, an ethical and professional approach, knowledge of your market, a success system that works, and flexibility to test and change and grow. To be successful online is no different. Master the basics of online marketing and you will see your business grow for long term business success!
Conclusion:
Our mentors here provide the training we need to succeed. Don't take that shortcut without really thinking it out.
I hope this will remind all of us to be wise in our approach to marketing on the Internet.
Stay focused, Folks!
John
Internet Business Tool Center
Recent Comments
49
You hit pretty much every important major point that causes people to fail. I think the first two are especially insidious and claim so many people before they ever give their online efforts a chance to really work.
Thank you, Barb, and Welcome to the Place to Learn to Earn. I put up a tutorial on this subject which has more detail for our Premium members. John
I'll have to check it out. Your points about testing really struck me, too. I designed and developed web-based training in the corporate world, and we alpha and beta tested to extremes. Of course, someone always still managed to break it out in the real world. It's amazing that people recognize the importance of testing in other areas, but not in the online business world. How else do you know where to put your effort for the biggest bang?
Your business experience is a big advantage. When I started out I thought everything was different for the Internet and pretty ignored a lot of business experience. Dumb! lol J
Thanks John for your info! Always good to hear AND we're never to old or experienced to learn! I always want to stay in the humble mode and listen.....
Ken
When I started out years ago there was not a lot around on how to not get clipped. The gurus are smart I the main body and they know how to turn you up-side-down and shake the money out of your pockets. John
Hey John,
I like your shoot from the hip honesty about your experience and what you think makes good online business.I find myself studying people's websites on WA,learning from there success and failures.An old friend once told me before you speak watch and listen...you might learn something.So I guess while I'm slowly working on my website and all the lessons and details,that's what I'm doing'''listening'' hoping to learn something profound.
Amy
This is very interesting about testing your site mine proberly falls into the category of a info site but what I thought might be interesting for consumers dosn,t seem to be bringing any traffic . I had thought about changing my headlines to test if my phrasing is missing the mark. I have to admit that I have had some doubts as to whether I am on the right track at all plus I think I could have used my keywords and low hanging fruit better, Any help would sure be appreciated as I am running out of ideas
http://eyeglasshelp.org :(
I personally react negatively to the word eyeglasses. It is such a dated term, and frankly I can't remember when I have heard them called anything but glasses. I'm surprised no one is calling them eye candy. PS I enjoyed the video on HD glasses.
Hi, Bob! I looked at your site again. It looks like you increased your posting in Nov. I would post two or three times a week until you get an audience. The think with eyeglasses is that you buy a pair and then disappear for two years. I would suggest that you add accessory items, specials on sunglasses and contacts, etc. You can put out a monthly newsletter too and ask for the names and email addresses of subscribers. You can keep this list yourself until it is too large to mess with then you can move it to Aweber or Getresponse. You could start a sister site that has only glamor eyewear, sunglasses, sports glasses, eye protection for sports, etc. You can find lots of products to sponsor on Amazon. Anyway, keep at it. You can expand your site or add a sister site according to your bend. Look at the markets again before you do anything. Get ideas at ubersuggest.org Hope this helps. Oh, PPC could work well for you for narrow markets on specific items. PM me if you like after you read this. John
I sent you a PM on uibersuggest.org. You will have to enter a lot of different terms like sunglasses, skiing glasses, etc., to find other markets for your site or a sister site. I saw tons of opportunities there. John
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Love, love, love your article!! I've listed them & posted it on my wall which will save me time & help me to avoid marketing errors while setting up and planning my first online business. :) Thanks a zillion John you are an asset to WA. :)
You are a Premium member so go to the tutorials and watch my video with additional helps or warnings. https://my.wealthyaffiliate.com/training/internet-marketing-errors Caroline, fell free to PM me, another benefit of being Premium. John