Starting a business venture via the internet is fast becoming a holy grail of sorts lately, with tons of people creating and devising innovative ways to go about doing it and some even managed to crave out hugely successful online businesses in relatively short time spans. There is no real world business model that cannot be replicated on the internet.
Most importantly, setting up an online business is relatively easy and can be done straight from the comfort of your own home without any prerequisites. Most of the information required are readily available from the internet. You could be a stay-at-home mom in Singapore making some income doing data entry jobs outsourced from all over the world or a retiree making a decent side income teaching others how to knit online. The possibilities are truly unlimited.
Another significant advantage of starting an online business is the low operating costs. All you need is a PC and a reliable internet connection and you are in business. Of course, having a comfortable and cozy location where you can concentrate on your work is certainly even more ideal.
Without the shadow of a doubt, there might possibly be more than a million ways to start your own online business, but the truth is that there are also many cases of people failing even to make a single cent online? When you truly ponder and examine the reasons why so many people still fail online, you will be surprised that the odds are somehow rendered to a just a few more well defined reasons.
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.
From my experience, there are about 5 more commonly made mistakes that generally results in so many people failing to make even a single cent online. 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. Would you go by the recommendation of someone or some company you have never heard before? Most probably not, meaning that no Branding means no business, pure and simple as that, period. Overcome that by becoming the "Expert" in your niche. Build online trust and credibility by giving out reliable advice and true value to your visitors and potential customers.
Mistake No. 3 : Helping Build Other People's List Instead Of Your Own. Most beginner business owners often make the mistake of sending referrals directly to their associated affiliated sites without even collecting their visitor's contact information first. By doing so, they are practically giving their potential customer base to other business owners who have an opt in box all set up to reap the benefits of your marketing efforts. This gives them absolutely no benefits for any future marketing opportunities.
Mistake No. 4 : Inadequate Positioning Of Ads. The placement of your ads on your website is critical. If you are sending paid visitors to your site for the sole purpose of promoting products you are selling, then it makes no sense to have ads on your site that might possibly divert traffic away.
Mistake No. 5 : Pay Per Click Dilemma. Pay Per Click advertising can be both the "Life Savior" or the "Killer" of any online business. The key to online business success lies in the mastering of this traffic generating technique. If done correctly it could bring forth a goldmine of targeted visitors eager to buy your product. But if done wrongly, your hard earned cash might be gone even before you realize it.
In conclusion, there are probably many more causes of online business failure that are not mentioned here but the primary concept that any business owner can pick up is the fact that the fastest track to online business success may not necessary lie in the business opportunity they have chosen but to first learn from other people's mistakes and not make the same mistakes when building their business online.
Most importantly, setting up an online business is relatively easy and can be done straight from the comfort of your own home without any prerequisites. Most of the information required are readily available from the internet. You could be a stay-at-home mom in Singapore making some income doing data entry jobs outsourced from all over the world or a retiree making a decent side income teaching others how to knit online. The possibilities are truly unlimited.
Another significant advantage of starting an online business is the low operating costs. All you need is a PC and a reliable internet connection and you are in business. Of course, having a comfortable and cozy location where you can concentrate on your work is certainly even more ideal.
Without the shadow of a doubt, there might possibly be more than a million ways to start your own online business, but the truth is that there are also many cases of people failing even to make a single cent online? When you truly ponder and examine the reasons why so many people still fail online, you will be surprised that the odds are somehow rendered to a just a few more well defined reasons.
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.
From my experience, there are about 5 more commonly made mistakes that generally results in so many people failing to make even a single cent online. 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. Would you go by the recommendation of someone or some company you have never heard before? Most probably not, meaning that no Branding means no business, pure and simple as that, period. Overcome that by becoming the "Expert" in your niche. Build online trust and credibility by giving out reliable advice and true value to your visitors and potential customers.
Mistake No. 3 : Helping Build Other People's List Instead Of Your Own. Most beginner business owners often make the mistake of sending referrals directly to their associated affiliated sites without even collecting their visitor's contact information first. By doing so, they are practically giving their potential customer base to other business owners who have an opt in box all set up to reap the benefits of your marketing efforts. This gives them absolutely no benefits for any future marketing opportunities.
Mistake No. 4 : Inadequate Positioning Of Ads. The placement of your ads on your website is critical. If you are sending paid visitors to your site for the sole purpose of promoting products you are selling, then it makes no sense to have ads on your site that might possibly divert traffic away.
Mistake No. 5 : Pay Per Click Dilemma. Pay Per Click advertising can be both the "Life Savior" or the "Killer" of any online business. The key to online business success lies in the mastering of this traffic generating technique. If done correctly it could bring forth a goldmine of targeted visitors eager to buy your product. But if done wrongly, your hard earned cash might be gone even before you realize it.
In conclusion, there are probably many more causes of online business failure that are not mentioned here but the primary concept that any business owner can pick up is the fact that the fastest track to online business success may not necessary lie in the business opportunity they have chosen but to first learn from other people's mistakes and not make the same mistakes when building their business online.
About the Author:
Derrick Lee has over ten years of experience running his own business. He owns a marketing company & has written many articles on helping others start their own business. Get free tips from his internet marketing blog if you are thinking of starting your own business online. Get Free Info-Products on internet marketing to help kick start your online business.
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1 comment:
Hi,
One of the greatest advantages of home based business to make money online is that as the entrepreneur you are your own boss. No one imposes the time you devote and the way you run the business. Decisions are made by the owner without any external intervention. Not only the business could run 24/7 as it is home based, many formalities of traditional business like the dress code becomes redundant for the home based business. You can either work very hard or you can take it easy working under a completely relaxed environment where there is no boss to wave his batons over you. It is even possible running the business working part time.
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