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

If you are interested in starting your very own online business it 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 start up 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.

Finding Business Focus

Get focused on Your Dream Business AND find Your Own Money Miracle.

Having a general knowledge of what your journey will look like will help you direct your energies like an arrow directing you on a quicker path to profitability.

“Visualize this thing you want. See it, feel it, believe in it. Make your mental blueprint and begin.” Robert Collier

When you are ready to leap forward and step out bigger in your life and business, you start to create the happiness and success that you are soooo wanting to have now.

  • Vision Your Dream to Reality: In order to have, do or be anything you must first be able to SEE it as a possibility.
  • Voice Your Vision from Imagination to Certainty: Once you BELIEVE you must set the vision into ACTION with focus and clarity.

Do you want guidance and support to move forward and then maintain the changes you are making? Then…

Get ready to leap forward in your business and life. Have clarity of purpose and focus.

Three of the biggest challenges facing people in business are:

a. Time
b. Financial pressures
c. Having a routine and having that linked with “feeling right” – that’s the incentive for keeping it going.

Focus helps us link our time and finances into a routine of feeling right and relieving the pressure of what we are suppose to be doing.

– When we have a list of key action steps to move our business forward;
– When we are in tune we start to see good results in our business and our lives;

Then, and only then, do we have power of focus working with us.

– We start to learn how to key in and eliminate the noise and clutter so we can accomplish great things in our business.
– We can be successful at anything in half the usual time by learning how to get focused and remain focused.

  • The power of focus and clarity keeps us on track to building our own successful business.

“Your ability to focus is the most important success skills you can ever develop… “ Brian Tracy

It’s time to take action!

  • Make it your intention to focus on action – motivation and… Know that it’s not just about mindset. You need to take the right steps to create what you desire.

Steps or leaps? Ready, Set, Jump into your Dream Business.

Now –

Value Our Business: This is where we have to invest – money, time, energy, commitment, faith, trust in our belief to success. It is also seems to be where most people get STUCK because part of VALUING what we want is ALLOWING OURSELVES to actually HAVE it!

Which means that you have to ALSO VALUE YOURSELF and BELIEVE that you are able to ACHIEVE AND RECEIVE Your Dream Business and YOUR Money Miracle.

“No one drifts to success.” Napoleon Hill

Do you need a business ‘start over’ – Visit: http://donnalward.com/coachinggroup/

Are You Working In Your Business, Or On Your Business

One of the biggest challenges faced by business owners is finding a balance between being directly involved in running the company and taking a strategic and management approach where valuable time is spent planning the company’s marketing, HR and financial strategies.

While you may need to work in your business to ensure that things run smoothly, it’s extremely important to take the time that’s needed to work on your business too – here are a few useful ideas that will assist you in finding the right balance for your business:

WHAT TYPE OF BUSINESS DO YOU OWN?

In the 1970s, two business scientists from the University of Wisconsin by the names of Filley and Aldag created a framework that allows small businesses to be classified into three groups: Craft Firms, Promotional Firms, and Administration Firms. These categories are very useful in deciding what type of business you are running at present.

Craft Firms – These include bakeries, service centres, and any type of business where the owner using a specialized skill to generate a product or service.

Promotional Firms – This type of business is typically owned by an entrepreneur who is excellent at marketing the products or services which the business offers to its clients.

Administrative Firms – These businesses are usually run strategically, with regular meetings and fixed job descriptions. The responsibility is shared by staff and management and the business slowly develops the ability to run without the owner being actively involved all the time.

LEARNING TO WORK ON YOUR BUSINESS

If you recognize your business as a Craft or Promotional Firm, you may be interested to know that businesses of these two types often struggle to grow substantially until the owner takes a more managerial approach to running the company and allows members of staff to take on the tasks of day-to-day administration, client service, and creation of products – simply put, the owner needs to delegate to create a successful business.

Working ON your business means taking a step back and viewing the business from an outsider’s perspective. You may need to ask a colleague or financial advisor to assist you as you study your business to identify how well your marketing, product development, administration, and finance plans are working.

By freeing up your valuable time from the everyday tasks of running your business, you will have the opportunity to create an organisation that is efficient, well-managed and is geared for growth and expansion, laying the foundations for great success.