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.
Tags: Advertisements, Aspirant, Big Lie, Business Entrepreneurs, Business Mistakes, Couch Potatoes, Dearth, Easy Money, Hopeless Situation, Internet Business, Introverts, Long Term Goal, Monetary Gain, Niche, Niches, Right From The Beginning, Short Term Goal, Term Approach, Time Effort, Wasting Your Time
05 Jun 10 Niche Product Marketing Guide for a Small Business
Starting a small business online may seem easy, but with inadequate marketing strategy one can fail miserably and lose financially. It is the niche marketing which holds the key to success. With careful, step by step approach, a small business can create its internet presence influentially.
Here is a niche product marketing guide that one can consider while beginning a small business.
Research
To begin with online small business one needs to conduct an in-depth research of the available niches to work in and then segregate the niche which suits one best. Not everyone can work in every niche. It is important to build an interest in a niche and work towards it with a passion to own it. It should be a marketable product that one decides to reach the customers with. There has to be a gap between demand and supply for the small business to flourish. To make profit it is necessary to conduct a second level of research in order to gauge the market reality of the product selected. A well researched niche combined with apt marketing may take time to pick up as a business, but reaps long term benefits.
Focus on niche marketing
Once the small business in online, a lot of work needs to be done to establish it by marketing with the right note of self-proclamation. The focus should be niche marketing and in order to stick to it one needs to follow ones customers closely. Making an effort at figuring out the customers’ likes and dislikes through magazines, conferences, chat sessions, and seminars can be a rewarding time investment for the business. It is best to be specific in ones approach at targeting the customers rather than being general through niche products. It is of utmost importance to provide the client base with best services, especially those that the big brands ignore. Anticipating the customers’ requirements, one needs to act fast to create an impression of the customer being on the centre stage.
Tackle competition
A general perception of the competition being healthy does not always hold true! For small business marketing niches much competition can prove to be a hard nut. To escape the cut throat competition, it is advisable to opt for such a niche which is not very popular amongst the business groups, but has ample scope for innovation and improvement. Who knows, some big names in the business may become customers of a small business online. Considering the flip side, absence of competition can pose as a red alert too. Other people might have given up on the niche that one thinks to be good. It could have been a failure or incapable to lure the required number of clients. The riddle can be solved only after an avid research. Mc Donald’s is a known brand and people know what sells there. An online small business ()needs to advertise well, so no need to be scared of competition, just market and market more.
It is the prolific research and a clearly defined niche that forms a strong foundation for any online small business. One need not spend too much on advertising ones small business if the niche marketing strategy is intellectually carved out to raise the brand popularity. Yes, a small business can become a brand name online for ones clients to feel proud to be associated with.
Tags: Careful Step, Centre Stage, Demand And Supply, Gap, Internet Presence, Market Reality, Marketable Product, Marketing Guide, Marketing Strategy, Niche Marketing, Niche Product, Niche Products, Niches, Product Marketing, Rewarding Time, Small Business Research, Starting A Small Business, Step Approach, Time Investment, Utmost Importance
01 Aug 09 Creating an Information Product
Growth of the Internet has kick-started the whole new industry of information products. Every Tom, Dick or Harry is jumping on the bandwagon and creating e-books, how-to guides, how to videos, tutorials, etc. without even knowing the exact structure of their information products? Why? Because most of so-called infopreneurs, entrepreneurs who deal in information product, doesn’t plan their product before hitting the market. They just do it, and you know what, they fail. And they fail miserably. This is what prompted me to write this article. Here we will discuss what we need to ask ourselves in order to make a top-selling information product.
Is there a problem?
The best information product is never me-too and nor are the top-selling ones. The creator of these products first goes out in the market and then finds if there is any problem in their niches, which they can solve. If your product (information or otherwise) does not solve any real problem then why would anyone buy it? Have you ever bought something that did not meet any of your biological, social, psychological, financial, or security need?
Do many people have this problem?
To create a successful information product, you do not need to spot a problem only because there are many problems in everyone’s life that every one of us wants to get solved, but you need to spot a problem that is faced by many people. A market of 10 people is not at all a market.
Can you be remarkable?
There is a problem, and that problem is faced by many people, but can you solve this problem in a unique way? In order to get noticed, you do not need to be the best, but you absolutely need to be remarkable, as Seth Godin puts it. There is much wisdom in this thought. No one wants the same product packed in the new box. They want something really unique. Can you do this?
Can you show it?
Can you show the benefits of the solution you are providing? Can you showcase it? If you cannot demonstrate the features, you do not have customers.
Is it Simple?
No matter, how complex my problem is I want a simple solution. I do not want the solution to look like a complex problem. This is what every buyer of your product thinks. Can you deliver a simple solution?
These are the basic questions you need to ask before you start making a product. If you can do this, you can succeed, but if you cannot do this, you will never succeed.
Tags: E Books, Exact Structure, Industry Information, Information Product, Information Products, Jumping On The Bandwagon, Niches, Product Information, Seth Godin, Showcase, Tom Dick, Wisdom
