How to Avoid These Five Mistakes When Starting Your Online Business

If you feel like you don’t know which way to go to begin making money online, don’t panic because…Whether you’re adding an online component to your current business or hoping to strike it rich with your own internet business, there is help to take you through the process. Help than can show you how to AVOID the biggest mistakes must people make when trying to start marketing online.When starting a business- any business- there are some basic things that you must consider before you start. Trying to shortcut the process by not following these steps is asking for failure before you even begin.If you add the additional element of starting a business online without really knowing what it’s all about it will complicate the process even further.The following mistakes can cost you a lot of time, money and headaches. If you learn how to avoid them you are already ahead of many who try to start marketing online and fail without even knowing why they failed.Mistake #1- Going forward with just an idea without confirming there is a need for your product or serviceYou come up with an idea for a product (or service) and immediately jump into “let’s get some office equipment, an 800 telephone number, create a beautiful logo, hire some service to create a website, print some business cards, get some inventory, etc., etc.” and, Bingo, you are in business!But after a lot of wasted time, money and effort you end up frustrated and broke because “your idea” either didn’t sell at all or the sales didn’t even cover your expenses.The truth is that you actually failed before you began.Because you forgot to find out
if there were people (buyers) looking for your product or service
If there were enough people looking for it
If they were willing to pay the price you were charging
If you could reach them and at what costMistake # 2- Forgetting about your competitorsLet’s assume that you did your homework and there are buyers for your product or service who are willing to buy what you offer.Why should they buy from you?Unless your product is so unique that competitors can’t “touch you”, the fact remains that you will have to compete with others to attract buyers.What makes you different from everyone else selling the same product or service? How can you make it unique, or different, or better, or what can you offer your prospects so they choose you over your competitor?Mistake #3- Spending a fortune on your websiteAgain, let’s assume you took care of the issues under Mistakes # 1 and #2 above.When you are ready to build your website, you hire a service to design, build and service (any changes, hosting, additions, etc.) the site they create for you.What is the problem?The problem is that most web design companies know how to create a great website with flash images, whatever information you give them, nice pictures, a shopping cart if you need one and information about your company. This may cost you more than you really need to pay just to get started.But, they don’t know much about MARKETING!How do you know that your website can sell your product to those who find your site in the first place? How do you know what’s working now? How do you “sell” yourself as someone the visitors to your site can trust and like to do business with? How do you know what basic information or elements you have not incorporated to your site?Right now there are a ton of free information and resources to learn the what, how, and why you need to have key basic elements and how to position them on your website. If these key elements are missing, your chances of attracting targeted buyers to your site are almost zero.Of course the are products that you can purchase to familiarize yourself with this basic information before you make key decisions that will impact your chances of success. This in itself is a wise investment to make.Mistake #4- Not knowing how to make your site “findable” by the search enginesYour website may be one of 500,000 that could come up when people are searching for what you are trying to sell. How can you make sure they can find yours? How do you do that? How much will that cost you?Not knowing how to market your product or service online will cost you – time, money and a lot of frustrations!I am not saying that you have to become an expert on all things required to succeed when marketing online. What I am saying is that you should do your homework and at least know what to ask before you make your decision to hire someone to do it for you. By doing so, you can save a lot of time and money that would be wasted if you don’t.Mistake # 5- Not investing the required time and money in building your business and thinking you will “get rich” overnightYes, you will have to spend money! This is a business and, no matter what others tell you, you can’t start a business without investing some money.The internet gives people the impression that “everything” you want or need is available with just a few clicks. That is simply not true. It is a great idea to own a business online, however, you will not make money instantly! It will require your investment of time and effort to make it work.So, consider how much of your money, time and serious effort you can invest before you embark in this business venture.In summaryThe harsh reality is that there are a lot more mistakes you should avoid. And the more you know before you begin, the better off you will be. Yes it takes work to have a successful business, but the rewards could be incredible!If you would like to increase your chances of success by investing a little amount of money now, before you get started, there is one guide that could be really useful to you. Check out “How to Start An internet Business for Under $500″ guide. It is a complete step by step guide on how, what and how much to invest when starting online. It doesn’t matter if you are an established brick & mortar business wanting to grow by marketing online or if you are just thinking about creating an online business. This guide will work for you.Remember, a small investment now to educate yourself before you begin marketing online will save you so much time and money you will wonder how you could have done it without it.To Making a Difference