The internet has given birth to an entirely new breed of info-preneurs out of ordinary people like you and me. Some have managed to crave out successful online businesses out of ideas that would have been deemed impossible or not realistic in the real world. The boundaries of the internet are limitless and there is virtually no business model that the internet cannot support.
The best part about having an online business is that you don't really need any prior experience of any sorts. All the information you need can be found online for free. There are so many success stories from all walks of life, even cases where a 59 year old grandmother is able to make $8500 per month doing what she really loved, giving home decorating tips! The possibilities are indeed limitless.
Another distinct advantage of starting an online business is the low costs of operations. The basic setup is simple, a PC and a reliable internet connection is all that is required. Top that off with a suitable environment where you can concentrate on your work will definitely be even more ideal.
However, along with the endless business opportunities, there can also be flips and setbacks too if you are not careful enough when starting your own online business. Undoubtedly, there are indeed many ways different ways people can make money online, but when you really examine the reasons why still so many people fail online, the reasons for their failure are somewhat more well defined.
And if you were to further examine this issue, then you will probably notice that maybe the fastest track to online business success may not lie in the massive opportunities available but to first determine what are the reasons causing so many people to fail online, identify and learn from their mistakes and avoid making them ourselves.
In my book, there are around 5 commonly made mistakes that generally makes up the bulk of most online business failure. And these include the following.
Mistake No. 1 : The "Illusion" That No Work Is Required. This might be the most appealing as well as the most hyped up factor of most Get-Rich-Quick programs intended to lure unsuspecting people to buy their products and start their own online business. Perhaps in the short term, one can make a small profit but it's highly impossible to sustain such a business model if no work is required right?
Mistake No. 2 : Lack Of Branding For Your Online Business. Failure to establish your business's online branding might just be the downfall for most internet start-ups. It's a well known fact that most consumers prefer to buy products from more established companies rather than from those they have never hard before. Establish your online branding by becoming the "Expert" in your niche. Provide reliable advice and give real value to your visitors and potential customers.
Mistake No. 3 : Helping Build Other People's List Instead Of Your Own Some inexperienced online marketers have the tendency to send their visitors directly to other affiliated sites without even collecting their visitor's contact information first. Technically speaking, it is as good as giving your up potential customer base to other business owners who have already have an opt in box set up to reap the benefits of your marketing efforts. It basically robs you of any future marketing opportunities with these potential customers.
Mistake No. 4 : Inadequate Positioning Of Ads. Where your ads appear on your website is important if you are sending paid traffic to your website mainly for the purpose of promoting products you are selling. It is not logical to place any form of ads across your site as it might possibly divert traffic away.
Mistake No. 5 : Pay Per Click Dilemma. Pay Per Click advertising can be a double edged sword when it comes to making or breaking your online business. PPC advertising is undoubtedly one of the most effective traffic generation tool on the market today. It is in itself a skill that needs to be learned and mastered if it were to work wonders for your online business. Unfortunately, most business owners fail to realize this and often waste tons of advertising dollars with no apparent results to show for.
In fact, we have barely scratched the tip of the iceberg when it comes to the reasons why so many people fail to make even a single cent online but the main lesson that any business owner can benefit from this is the fact that the fastest track to online business success may not necessary lie on what business model they chose but to first learn from other people's mistakes and mot make the same old mistakes when they start building their own business online.
The best part about having an online business is that you don't really need any prior experience of any sorts. All the information you need can be found online for free. There are so many success stories from all walks of life, even cases where a 59 year old grandmother is able to make $8500 per month doing what she really loved, giving home decorating tips! The possibilities are indeed limitless.
Another distinct advantage of starting an online business is the low costs of operations. The basic setup is simple, a PC and a reliable internet connection is all that is required. Top that off with a suitable environment where you can concentrate on your work will definitely be even more ideal.
However, along with the endless business opportunities, there can also be flips and setbacks too if you are not careful enough when starting your own online business. Undoubtedly, there are indeed many ways different ways people can make money online, but when you really examine the reasons why still so many people fail online, the reasons for their failure are somewhat more well defined.
And if you were to further examine this issue, then you will probably notice that maybe the fastest track to online business success may not lie in the massive opportunities available but to first determine what are the reasons causing so many people to fail online, identify and learn from their mistakes and avoid making them ourselves.
In my book, there are around 5 commonly made mistakes that generally makes up the bulk of most online business failure. And these include the following.
Mistake No. 1 : The "Illusion" That No Work Is Required. This might be the most appealing as well as the most hyped up factor of most Get-Rich-Quick programs intended to lure unsuspecting people to buy their products and start their own online business. Perhaps in the short term, one can make a small profit but it's highly impossible to sustain such a business model if no work is required right?
Mistake No. 2 : Lack Of Branding For Your Online Business. Failure to establish your business's online branding might just be the downfall for most internet start-ups. It's a well known fact that most consumers prefer to buy products from more established companies rather than from those they have never hard before. Establish your online branding by becoming the "Expert" in your niche. Provide reliable advice and give real value to your visitors and potential customers.
Mistake No. 3 : Helping Build Other People's List Instead Of Your Own Some inexperienced online marketers have the tendency to send their visitors directly to other affiliated sites without even collecting their visitor's contact information first. Technically speaking, it is as good as giving your up potential customer base to other business owners who have already have an opt in box set up to reap the benefits of your marketing efforts. It basically robs you of any future marketing opportunities with these potential customers.
Mistake No. 4 : Inadequate Positioning Of Ads. Where your ads appear on your website is important if you are sending paid traffic to your website mainly for the purpose of promoting products you are selling. It is not logical to place any form of ads across your site as it might possibly divert traffic away.
Mistake No. 5 : Pay Per Click Dilemma. Pay Per Click advertising can be a double edged sword when it comes to making or breaking your online business. PPC advertising is undoubtedly one of the most effective traffic generation tool on the market today. It is in itself a skill that needs to be learned and mastered if it were to work wonders for your online business. Unfortunately, most business owners fail to realize this and often waste tons of advertising dollars with no apparent results to show for.
In fact, we have barely scratched the tip of the iceberg when it comes to the reasons why so many people fail to make even a single cent online but the main lesson that any business owner can benefit from this is the fact that the fastest track to online business success may not necessary lie on what business model they chose but to first learn from other people's mistakes and mot make the same old mistakes when they start building their own business online.
About the Author:
Derrick Lee is an experienced business owner with over a decade of experience in the field of marketing. He owns a marketing company & has written many articles on topics such as how to start their own business. Get more marketing tips and advice from his blog. Derrick is also giving away Free Info-Products on online marketing, so grab them before its gone.
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