8 mistakes to avoid when launching an online business
There are many reasons why people love the idea of starting an online business. One of the most attractive points is that you can have freedom and you are not confined to one location. You’ll also be your own boss and have ultimate control over your time. However, just like any other business, it is not necessarily easy. As an online entrepreneur you will have to dedicate a lot of energy and time to make your venture a success.
Here are 8 mistakes you need to avoid when launching an online business:
Taking a lot of time to launch
In business, time is an important factor. Therefore, once you realize that there is a business opportunity, you should seize it and launch as soon as possible before other business people do it. You will have to research about the market, competition and other aspects of online business, but don’t take a lot of time before you launch. Remember, you just need to be good, not excellent when you start because you will become better with time.
Failing to plan well
Before you start anything, you need to have a plan that will help you understand your business, objectives, what you want to achieve, your audience and more about your products or services. Some of the things you need to have planned to include the following: marketing strategy, your niche, name and tagline, design and your persona. If you don’t have a clear plan right from the start, you won’t have a clear direction for your online business and hence end up wasting a lot of time.
Too much keyword stuffing
You will have to implement some sort of SEO weather it’s onsite or offsite SEO. SEO will help you gain a bigger online presence in the organic results and ultimately help you drive a lot more traffic to your website. However there is misleading and outdated information on the internet that encourages you to stuff keywords in your content, however this is not good practice anymore.
Over the years, SEO has evolved and you need quality content to rank higher on search engines. Hence, if you want to draw more traffic to your site to sell more products, your content should be informative, fun and helpful. Ultimately we suggest finding out how to teach yourself SEO by doing lots and lots of reading and youtube video watching. On the other hand you could consider hiring an SEO expert or company to do the work for you.
Failing to advertise on social media
Social media platforms have a huge effect on businesses, especially online business because you can reach a lot of people without spending a lot of money. You will have to know where your customer base is to avoid spending resources and time on wrong platforms. Facebook and Pinterest are good in product sales while LinkedIn can be used to build your brand/personality.
Giving away too much at first
Although offering something for free can help you get long-term customers or a lot of sales, you will have to be cautious because the cost of these products can add up. Instead, you should start offering intangible things in exchange for the e-mail address of a customer. Guides, checklists, recipes, eBooks, webinars or instructions can be some of the things you give away because they won’t affect your budget too much.
Dismissing negative feedback
A prudent business owner listens to feedbacks because they can help him/her offer better services. You will definitely have loyal fans, but on the other hand, there will be those who will critique your product/services. Don’t dismiss negative comment, instead, consider it to offer better customer services in the future.
Failing to define your target audience
If you fail to define your target customer, you will not be able to market directly to them and vice versa. Not every business will meet the need of every consumer, but you have a target audience by identifying your niche. Remember, if you are going to look for investors, you will have to include your target audience in your business plan.
Ignoring legal stuff
Sometimes you may have legal requirements depending on the nature of your venture. Therefore it is advisable you carry out research and find out what you need to put in place. If you are in doubt contact a lawyer or an expert on your field.
The internet has offered unprecedented opportunities for people to start their own businesses. Hopefully the above tips will help you get off to a good start and you’ll avoid making mistakes that many people. Good luck.