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Top Ten Mistakes When Starting an Internet Business:
Starting an Internet Business? Top Ten Mistakes 1. Immediately Trying to Make Money – It simply is not going to happen tomorrow or next week. Anyone who expects to earn profits with a new Internet business without first learning basic Internet marketing skills and concepts will become very frustrated! Instead of wasting time trying to make money from day one, beginners should devote time to learning skills and building a foundation of knowledge. The desire to make money right away makes beginners vulnerable to the many online scams trying to exploit them. 2. Thinking there are Shortcuts – Beginners often try almost ANYTHING to avoid learning basic Internet marketing skills – like web design. If there is anyone out there who is successful with Internet marketing and does not know how to build simple websites, please let me know; that person is a rare find!
By the way, building a site with a hosting wizard or some other “create a site wizard” does not count! Basic web design skills are a MUST! 3. Looking for a FREE Lunch – Too many Internet marketing beginners, for one reason or another, believe they can start an online business with ZERO money. An Internet business has a MUCH lower startup cost than a conventional business, but it is NOT free! Some of the basic costs involved are web editing software, website hosting, and domain name purchases. Anyone unwilling to invest in these basics is not ready to make the commitment required for success. Beginners insure failure when they opt for free hosting and free or low-cost web design options. 4. Failure to Learn the Art of “Failing” – Too often a beginning Internet marketer tries something which does not work and then becomes frustrated and quits. The truth is that the “failing fast” concept is a required mindset! The cost of “failing” online is very low compared to a brick and mortar failure. Therefore, ALL successful Internet marketers take “failing fast” to an extreme. It is the BEST way to find a path which works! Even with success, “failing fast” is still a core principle used by most successful Internet marketers. A person who can’t accept failure 8 or 9 times out of 10 is in the wrong business! 5. Trying Too Much Too Soon – It happens almost every time a beginner gets some knowledge under her or his belt; they see a dozen different ways to make money online. This is not a bad thing unless the beginner actually starts dividing time amongst all those ideas! Beginners should not pick just one area at first; it is important to test the early waters with several methods. Beginners often have so many irons in the fire that their efforts are simply spread too thin for anything to get traction. It is important to focus on one or two plans at a time! Read my online marketing blog for more tips about this. 6. Discounting the Internet Marketer’s Greatest Asset – “The money is in the list!” Delaying the building of a targeted list is a costly mistake. Many beginners understand the importance of a list but fail to implement the process soon enough. Building a list is often thought of as something to add down the road. The truth is that building a list should be near the top of EVERY Internet marketer’s to-do list! Don’t delay the creation of what will be your business’s greatest asset! 7. Thinking AdWords is the Answer – Don’t get me wrong! AdWords is a powerful tool which I use quite successfully! However, success with AdWords does not come easily. Success requires MUCH study and practice. Unfortunately, practicing with AdWords includes getting a credit card bill from Google! It is VERY easy for anyone to set up an AdWords account. However, the odds of a beginner having success with AdWords from day one are about as good as winning the lottery! It simply is not going to happen. Beginners should only set their daily AdWords campaign budget to an amount they are willing to lose! AdWords will eventually be a part of most successful Internet businesses, but in the beginning PayPerClick is NOT the answer. 8. Failing to Realize the Power of SEO – Search engine optimization is one of the greatest skills an Internet marketer can learn. Anyone who can build simple websites and understand the art of SEO literally has the sky as their limit! I can’t emphasize enough the value of this skill. Honestly, without my SEO skills, I would be working a 9 to 5 job right now. Nothing beats free and targeted traffic that first page rankings produce! Even with only basic SEO skills, it is incredibly easy to achieve good rankings for niche keywords. Beginners to Internet marketing often think there are tricks, secrets, or money involved in getting ranked well; nothing could be further from the truth! Back Porch Income is an excellent starting point for acquiring the SEO skills required for achieving high rankings in the search engines. 9. Lack of Action – Beginners often tell me they have been “studying” Internet marketing for some time now. What? I of course believe in the power of knowledge, but too many (because of fear of failure) take it to an extreme. These people remind me of the “professional” college students I have known who have spent 7 years in school “trying to find themselves” and what they want to do. Knowledge alone produces zero income; success on the Internet requires MASSIVE action! Listen very carefully: The higher your level of Relentless Focused Action (which you can sustain), the higher your level of success will be! Read that last sentence again! 10. Failure to Think BIG Enough – I hear many Internet marketing beginners say they only want to make a few hundred dollars per month when first starting an Internet business. They fail to realize that making the first hundred dollars per month is the hardest money they will ever make. The good news is that the next hundred is easier…MUCH easier! Then, ramping up from a few hundred to a thousand (and more) is not that big of step! Failing to think big enough (because of the fear of failure) leaves the beginner with a severe handicap! The Internet is a HUGE place; failing to realize its potential is a mistake! |
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I think these are mistakes we have all made at one time or another.
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This intel was contributed by zigzagman
zigzagman
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February, 2012
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