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The FIVE Biggest Mistakes When You Start An Online Business

Discussion in 'General Internet Marketing' started by randynguyen, Sep 13, 2018.

  1. randynguyen

    randynguyen Affiliate affiliate

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    When you think of starting an online business, what comes to mind? Build a beautiful website? learn some of the tactics from the expert? Or create a powerful ad?

    Yes that's right, but that’s not important, starting an online business begins with filling a need and building credibility, if you ignore it, that will be very dangerous for your business especially when you just start.

    there are a lot of mistakes that you can get into, especially when you’re new to eCommerce and don’t have much experience.

    So I decide to do a lot of research and find out the five biggest mistakes that are over 80% small business make, they ‘re repeated in many different posts with different interpretations,

    But they all talk about the same problems, and if you know them, that will help you go ahead of 80% remaining

    Now let start


    NOT HAVING A PLAN

    Many People think it's just only for big business, because they do not know if their business is going to be there or not, and they think they just to start, when their business grows they will find out what to do next, but that's not true, you have to build a plan before you start.

    You don’t need a formal 20-page business plan to successfully plan a business, but you still need a plan.

    A business plan will help you know what's working and not, divide available funds to reach specific business goals.

    For example, if you sell fitness machines and you’ve identified 20-year old males as your target audience, a marketing approach built on social media marketing like facebook, twitter and Instagram might be more effective than using magazine ads.

    Your marketing plan will help you understand the amount you’ll need to spend, how many people you can reach, and how many potential customers you’ll have to convert to generating a profit.

    FAILURE TO DO RESEARCH TO SEE WHO IS YOUR CUSTOMER

    This mistake will lead to identifying the unimportant problem and target wrong audience, Imagine if you created a great product, spend an amount of money to promote it but no one buys, How do you feel?

    Simply because it's not their problem, Remember customers are buying for themselves, not for you

    Take the time to do research to identify who you are trying to reach, what are their important problems and the actual gap in the market before you take things further.

    NOT DIFFERENT ENOUGH

    You have no idea what your competitors are doing with their marketing, that’s a mistake. In most markets, customers have different options to choose from. Your business needs to be distinctive.

    If your business has competition and you then realize that your business idea isn’t unique. You have to ask the reason why people should do business with you instead of your competitors.

    If you can not create a different product, you could change the way of marketing, like Guy Kawasaki explain in the book The Art of the Start: “Most of the new companies use the same terms to describe their product or service.

    It's as if they all believe that their prospective customers have been living on a desert island and have never before heard a product or service referred to as "high-quality," "robust," "easy-to-use," "fast," or "safe."

    A better way to distinguish your product is to offer concrete proof points so that people can deduce its unique qualities.

    Find unique language or offer scientific proof points, and don't be tempted to think that you have the only product described with such overfamiliar adjectives as intuitive, secure, fast, and scalable.

    BUYING A BUNCH OF LITTLE STUFF

    When you have a business, you need a some of the promotional tools, that will help your business look more professional and more attractive, right? Yes, but you don’t want to go overboard.

    In most of the market, maybe except for the fashion industry, your customer just care about: Can you solve their problems and how do you solve it?.

    So instead of spending a lot of money and focus on things like how your business cards look or the design of your logo, founders are wasting valuable time and money. You should concentrate on your content that will help your business go to the next level.

    But don’t make me wrong, you should still buy some promotional items because it’s also a factor to attract your customer, but keep the quantities and your budget on the small side.
    Here is my suggest
    · Business cards
    · Marketing materials
    · A cheap giveaway item

    NEGLECTING GOOD CUSTOMER SERVICE ON THE SITE

    Businesses lose as much as $41 billion a year from bad customer service, don’t let yours join those notorious ranks, you’re selling on the web and rarely meet face-to-face, that’s the reason why customer service becomes more important.

    A good customer service will help you educated potential customers to realize the benefits of your product, that help you know to reason the ones who ask for refunds or buy your product but don’t use it and why the people who tell you they won’t buy, and find out why.

    You should establish your contact info which displayed on your site, so your customers can always reach you with feedback, questions or complaints.
     
  2. Golden Goose
  3. msulcs

    msulcs New Member Marketplace Seller affiliate

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    You need a plan A, B, C, D, and even E in case the plans A,B,C,D don't work. I has happened to me many times. I think of an interesting idea. Try it. Something doesn't work as planned, and then I'm stuck because I didn't think of options what to do if the plan fails.
     
  4. affmarketer101

    affmarketer101 Affiliate affiliate

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    Well done post for reminding me things to avoid.
     
  5. Graybeard

    Graybeard Well-Known Member affiliate

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    Good basic points ...

    Understand your market is the most important thing --and also the most difficult.

    Take a Pizza Take-out delivery: Nothing original here.
    But how do you compete? Domino's guarantees (-ed) 30 minute delivery ;)

    You need some unique selling point -- or you may end up broke or out-of-business
    [​IMG]
     
  6. randynguyen

    randynguyen Affiliate affiliate

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    thank for your ideas, they are very useful

    In business it is difficult to say what is effective or not.

    However, we can minimize the risk or prevent major losses by some proven methods
     
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