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4 Mistakes While Starting The Internet Business
iDevSpot
post Oct 22 2010, 04:33 PM
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I think it is difficult as a beginner to even know where to begin. The internet is so vast and the opportunities are truly endless. It is easy to make pretty much any business idea look like a good business idea.

I think the best chance for a successful online business is choosing something that you are ridiculously interested it. We all know that you will be spending VAST amounts of time on the computer.

So I think to add to the list of biggest mistake while starting a business is this:

Choosing a business simply because you think it will make you money. You have to choose something you love so that when things are not going well..you still have some motivation to continue.

Thanks for the tips everyone!

smile.gif)


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ithuku
post Nov 17 2010, 12:30 PM
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Hi,

Reading the post and comments on this page is very encouraging. When I started, I made more mistakes than I do these days, got scammed but I decided to start easy again. These days I do my paid emails, Paid to click ads, Paid to promote pages on exchanges and at least I can say I have made some cash.

Now am working on growing my downlines on these programs, they may not make you thousands of dollars but at the end of every week or two I get something in Paypal, guaranteed.

Those who have messed up, don't give up try and do it right the second time.

Good luck!

Isaac


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goldguru
post Dec 3 2010, 01:51 AM
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QUOTE (truhomebiz @ Aug 25 2009, 10:56 AM) *
I definitely know of a few personal mistakes, back when I was newbie. Here are some lessons I have learned.

  • Do your homework! Don't let the emotion of a "quick-fix" end up giving you nothing more than "Buyer's Remorse"
  • Find a mentor with a proven track record of HELPING their team. If they have that, they will be surely making long-term income. Big bucks is NOT a true indicator of a leader.
  • Never lead with your product/service/company...and don't follow those who do.
  • Set up a business plan with short-term and long-term goals and get together with your mentor to discuss what ACTION STEPS are necessary to reach those goals.
  • NEVER GIVE UP.
  • Mistakes are inevitable-learn from them and IMPLEMENT the lesson you learned.


To your success!
~Joy~



This is particularly good advice in my opinion.
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John15
post Dec 16 2010, 11:54 AM
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QUOTE (chrisdina @ Jul 17 2009, 12:54 PM) *
the third: give up after trying only once
Many people give up quickly because the results have not appeared. Suppose a new post the article once, then immediately want a blog make money. follow-up once, then never do it again. Hopefully this never happens to you.

Solution: try again, again, again and again.
Never give up! continue to post consistent.


Very true. You only fail when you quit, because then you've guaranteed yourself never to make it.


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Fairlinks
post Dec 25 2010, 07:33 PM
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When I started IM three years ago, I had a feeling that it was too late to try it on internet. So, I rushed to every shining thing that came my way and wasted lots of money. It took me more than a year to learn that what I required was patience, focus and the willingness to learn and acquire new skills and apply them effectively.


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RobB
post Mar 31 2011, 05:28 AM
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Here are the four reasons I think people fail online

a) Beleive the hype, (they dont make ten grand in ten days and then quit)

b) Do not invest in their education ( i.e. learn the correct process of marketing online)

c) Have a poor business model (1 x stream of income and it is a low ticket product)

d) Try and do it all on their own ( have no help and support from a mentor)


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JohnBe
post Apr 7 2011, 01:07 PM
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I especially agree with the idea that so many fall for the "traps" out there. The ones that make the sellers money and the buyers left with nothing but regret!


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Bannaz
post Apr 13 2011, 12:48 AM
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I would say the biggest mistake is to throw your eggs all in one basket at the start. smile.gif


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Edelweiss
post Aug 18 2011, 03:35 AM
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QUOTE (spookycc @ Aug 13 2009, 10:42 PM) *
Some more mistakes people make when starting out:

Do you have an online business that is not performing as well as you would like it to? If so, you could be making one or more of the following online business mistakes. Let's look at each one and ways they can be avoided or rectified.

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. When success is not instant, discouragement sets in and the business person quits or moves onto another venture without learning from their experience.

To avoid this mistake, you need to stand back from the hype and excitement and realise that the only way to get rich on the internet is to work hard. Study successful web sites and internet business models to see what they are doing that works. Then consider how you can use this knowledge in your own business.

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. Due to impatience, research is not conducted and time and money is spent on fruitless activities.

In each business, there is a process involved in making money. In simplest terms, you need a continuing supply of prospects, a product or service they are prepared to buy at a price they are willing to pay, a way of providing this product or service in a timely and satisfying manner to the client, and to be able to run your business process at a profit.

Make sure you know your business and how money is made. Then concentrate on the activities that will give you the greatest success.

3. Failing to determine who your target market is

This takes one of two forms: "everyone will want to buy what I am offering" or "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. Significant time and money is wasted on promotion that does 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 world!

4. Going for the "big bang" instead of testing

This can be described best as rolling out a full advertising campaign without having tested to 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.

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.

6. Conclusion

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!


Colleen


Edit: Links belong in your signature

I totally agree with your advice!
I'm lucky to be currently under a great mentor, teacher and friend.
My greatest desire is to be able to share as much of his teachings, and what Ive learnt from him, with as many people as possible.


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johnywalter
post Aug 18 2011, 04:44 AM
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With all of the wrong information or missing ones posted all over the internet, relying on what you see on Google could be one of the mistakes that you would make when starting your online business. Not everything that you read on forums, blogs or other resources are true in regards of the different ways to be successful in the internet industry.


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Rhyker
post Aug 27 2011, 08:56 PM
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biggest mistake is developing / creating something that YOU like, instead of focussing on your customer. KISS = Keep It Stupid Simple.


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carlmarl
post Aug 28 2011, 09:02 PM
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My mistake was not doing enough research in the beginning when I started out. You have to research your target market and understand exactly what it is they are looking for otherwise you are wasting your time.


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