5 Common Mistakes Online Entrepreneurs Make
Every single year, thousands of people try their hand at online marketing. The unfortunate truth is that most of them fail miserably and leave the scene with their tail between their legs. Just like the fox and the sour grapes, they tell themselves that the whole internet marketing industry is a scam, and all those who succeed at it are scammers.
In reality, most of these beginners make cardinal errors in judgment and sabotage their own chances of success. To become a successful online entrepreneur requires knowledge, perseverance, a dash of luck, patience and a truckload of “massive action taking.”
There is no other way to succeed online. The illusion of a laptop lifestyle by some sun-kissed beach in the Caribbean is exactly that – an illusion. It only becomes a reality when you’ve put in the work and have automated systems in place that generate passive income day after day, month after month.
To reach this stage, there are 5 common mistakes that you absolutely must avoid. Failing to do so will almost always guarantee failure and leave you stuck in the muck and mire of mediocrity. Maybe that’s a bit harsh, but it sure drives home the point.
1. Waiting To Feel Ready
This is the biggest mistake of all. Most beginners are stuck in a hamster wheel of learning but not doing. They get their little paws on every eBook that they find, they watch every YouTube video out there on making money, they attend every pitch fest disguised as a “Webinar”, but they don’t do the one thing that matters.
They don’t TAKE ACTION. This is the most important step. You learn by doing. You can’t learn to swim if you won’t jump in the pool. Start doing, and you’ll overcome your inertia and get the ball rolling. You’ll start seeing results and know what else needs to be done to succeed.
2. Your Business Model Is Not Passive
Initially, you may need to do everything yourself because you’re just starting out and learning the ropes. You might be bootstrapping your business and funds may be tight. This is perfectly understandable.
However, your business should be able to run without your presence when it is successful. You should be able to scale your online business by automating tasks and outsourcing where necessary.
To truly succeed online, you’ll need help from others. It’s impossible to do everything yourself. Hire people to handle your support, or do your graphics or create your content.
Focus on only doing the most important income generating activities. The other extraneous stuff can be handled by your virtual assistants.
3. Expecting Success Online Because You Have a Degree
It may come as a huge blow to the ego, but your paper qualifications do not hold much water in internet marketing. Many newbies fresh out of school with impressive qualifications, expect it to be a cake walk online.
When reality hits them that their degree has no bearing on their success, it can be a bitter pill to swallow. Being an online marketer is about profits, and not wages. If you’re looking to be hired at a company, your university degree will matter.
When you’re selling online, your customers can’t give two hoots if you have a degree or a Dalmatian. They just want products that are of value, and which help them. If you can deliver these two, you’ll make the money. The focus is always on the customer, and not the fancy credentials after your name.
4. Failing To Adopt a Profitable Online Business Model
When starting out online, there are many paths to follow. Some can be scaled up and become wildly profitable, while others have invisible ceilings. If you become an info-product creator, you’re only limited by your imagination and skills.
However, if you become an article writer at a content mill online, your earnings will be dictated by what they pay you. You’ll also only be able to take on so many jobs in one day because your time is limited.
Always choose a business model that will allow you to scale up, and where you can set your own prices.
5. Focus On Your Strengths
This is a big one too. You absolutely MUST follow your strengths. If you have a good personality and can make interesting videos that get a lot of views, that’s your strength. Go with video marketing and make a killing there.
Do not try to become a writer and struggle to write and sell content because you heard that’s where the money’s at. Or try to jump into graphic design and spend five hours creating an eyesore.
Focus on your strengths and exploit them to their fullest. You’ll shine at what you do, and make enough money online to be considered a success. You’ll probably end up influencing other beginners to do what you do, when that’s not their strength to begin with. The vicious cycle never ends.
All online entrepreneurs should do their best to avoid these 5 most common mistakes and they should find success online.
