Common mistakes in starting an online business

There are various online business models that you can adopt, and it all depend on how you want to make your money. However, there are mistakes that people make that cost them the businesses. Find the mistakes below:

  1. Waiting too long to launch a product/service. Have the idea, implement it and launch it IMMEDIATELY. Don’t wait. The longer you wait the less the chances of implementing it. Hit the nail when its hot.
  2. Solving an unimportant problem. You must be solving a problem that has been bagging your market bigtime. The only way i can be able to buy from you, is if you are solving my problems.
  3. Not really listening to customers. You business must be customer-centric. Focus and listen to what your customers need. Don’t offer what you think will sell.
  4. Not being different. This world is competitive. Whether at home, school, work, market or even social life, you will always find competition. The only way to beat it is by being different.
  5. Choosing a field or market that you don’t care about. If you choose a field that you think has money or potential and not that you are passionate about it, you will definitely fail. Online business is all about passion.
  6. Starting with vastly wrong expectations. Yes. You set a website or blog and expect to make $50 dollars the following day? No way! Online businesses just like other businesses are built through sheer hardwork. They are not quick money schemes. There is not short-cut, just work your business out.
  7. Spending too much time thinking and not enough doing. Its called paralysis analysis. You will spend a lifetime strategizing about your business. You will end up over analyzing it and eventually you will not start it. My take is, implement it, hit the road, learn on the job.
  8. Going it alone. You can never do it all. You need people. To help you with the work, to motivate and inspire you and to be accountability partners.
  9. Confusing “blog” with “business” Most online entrepreneurs sets a blog and assume it will bring money. Nope! A blog is a platform for making money. But you have to integrate products into your blog that will make you money. No product or service, then no money.
  10. Quitting. The worst you can do is to quit. Most successful business people don’t quit. They re-engineer their businesses. They will mostly change their business models as change creeps in. Never quit, just adapt. Patience pays.