Getting into online business in 2017 is the new thing. Everyone want’s to get in the entrepreneurial mode and set up online properties, even those that manage a brick and mortar business are starting to get their services online.
However, starting online doesn’t mean that everything will be nice and easy. There are so many factors that will determine your path to a successful online business. These factors are different for every industry, so honestly, we can’t give you a general solution for success – yet we can let you know the common mistakes entrepreneurs do when starting an online business or start to sell online.
- Over expectations
Avoid reading those ‘How to Become a Millionaire from Your online blog” type of posts and ebooks. Seriously, it’s not happening. The internet is over-competitive, you either need a really unique solution to a problem or some serious cash for you to set up a new trend where you will be the leading business.
- Incompetent Partners or Employees
Having the right crew is crucial for your business, regardless if this is the right staff or partners. Hiring friends for staff or as partners, with same knowledge like you or no knowledge is a bad sign. After all, even if it’s online, it’s business. You must approach seriously to it and find professional labor.
- Not setting up a Business Strategy
Like physical businesses, you must set up a strategy for your online business as well. Analyze the market, do your marketing plan, business objective, promotion plan and so on. The online market is huge, you can easily get distracted and wander onto things you don’t fully understand, and this can become a huge drawback for your business.
- No communication with your customers
This is not a new mistake, but it’s still happening. Entrepreneurs don’t really listen to their customers and ignore their needs. You must improve your service or product and tailor it to your customers, listen to their complaints. To manage the whole situation you need a good customer support as well.
- Wrong Market
If you don’t do your market research right, you may enter the wrong niche or market and your investments will instantly fail due to the fact that you don’t offer a good solution for this market. Make sure you focus on your analysis or get a consultant since this is a crucial moment for your online business – especially if you are limited on resources.
Is there any mistake you’ve done or heard, that is missing? Even entrepreneurs are people, mistakes are to be done, yet the idea is to learn out of someone else’s mistakes and get the right practice for your online business in 2017.
— High Risk Holdings (@HighRiskHolding) 23 de junio de 2017