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18 Sep 11 Online Business Mistakes that You Should Avoid

Online business is not only seeing growing popularity and aspirant entrepreneurs, but also complete failure when fatal mistakes are not uncommon. Here are some of the common mistakes done in online businesses.

Lack of right niche

Often people commit the mistake of not picking up the right niche. If you end up in a wrong niche you may end up wasting your time, effort, money and lose hope. Do your research, before you jump into the vast pool of Internet business. Read more and more about niches, know which you can handle and there’s no dearth of opportunities and growth. Then finalize. But at the same time after a point you need to stop reading and start doing. Unless you start practicing and commit some mistakes you won’t learn the worth of success. Don’t be afraid of failure. Make sure your niche keeps you interested and passionate about the same, so that you can continue with it for years and never get drained out. It should be your choice, not a liability.

Short-term goal

Online business lures many of us because it appears to be easy money making way, ideal for lazy couch potatoes and introverts. Do not take up an online business just to pay your bills and deciding to leave it the day you secure something bigger and better. Such decisions are miserable and will make you end up in hopeless situation. All advertisements circulating on the web claiming ‘Make money online’ promise instant money. It is a big lie. No one can be successful overnight. Always think in terms of a long-term goal. Only when you have a long-term approach you will invest your 100% effort into it single-mindedly and secure assured success. Be persistent, patient and innovative. Do not expect the flower to blossom overnight. Instead of looking for monetary gain right from the beginning, start focusing on the work and it will lead you to success.

Not tracking the traffic

It’s surprising that many small business entrepreneurs simply overlook the traffic or are found to be complete ignorant about web traffic, its source, traffic behavior and the like. Your web business can be successful only when you have large web traffic. A person comes to your site, looks around, reads, develop an impression and then leave, and if really likes your site; talks about it with friends and family. They may come back again and again, only when they remember you. In this clutter there are chances of forgetting you and you lose them forever. Can you afford to lose them? Ask your visitors to register at your site with their name, contact detail and email address. Ask them to sign up for newsletters for good deals. Keep a track of everything: source of traffic, which link was clicked how many times etc.

Be careful and don’t repeat these common mistakes.

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21 Sep 09 Validating A Business Idea

If you have an idea for a business, the most important thing you can do is validate that idea.  You need to validate your idea, and ensure that it really is solid enough for your personal investments of time and money.  Starting a business without proper validation oftentimes means failure, or an inability to hit your target market because of a lack of information.  Many start up businesses fail because of improper preparation, so don’t undervalue the step of validation.  Any good idea should be validated before really put into use, and your business is no different.

You’ll want to take that business idea and fully flesh it out before you begin to gather support for your concept.  Make an outline of your plan, and how the idea fits into accomplishing your goals.  Think of how you can make this concept work for you, and how you’ll carry it out.

Now bring in your friends and even family, ask them to take a look at your outline and see what they think.  Take their input seriously, and make notes of the points they mention.  Whether they see a flaw, or something you could change to work for the better.  Any criticism is good at this stage, and will help you bring about a stronger business idea.

Once you’ve got that idea validated by those close to you, and you’re comfortable with what you’ve got, it’s time for the next step.  You need to find business entrepreneurs.  These are the people that will give you the input you need to be successful, and also the people you can inspire to be interested in investing in your business idea.  They will give you the pointers you need, and expose any holes in your idea that make the business a less than viable success option.  After that you plug up the holes, and keep at it with the entrepreneurs and try to find yourself an investor, so that you’ve got some start up money to really get your idea off the ground.

Plus now you’ve proven your idea is viable, and you can focus on your target market.  Use what you’ve learned to your advantage, and make things happen.

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