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5 Common Mistakes Every Online Business Owner Should Avoid
Copyright 2005 Peter Dobler
Starting an online business is probably one of the simplest things to do. You make the decision that you want to make some money on the internet. You join a few free affiliate programs, maybe a couple of free mlm programs and if you're really into it, you get your own domain name and web site.
So far your business expenses are peanuts and you can close shop anytime without any regrets. You don't have a vested interest in your business due to the lack of a financial commitment. That's how about 80% of the so called 'online business owners' operate. No concept, no plan and no future.
Then there's another group of 'online business owners' who are all fired up about their new Endeavour and nothing can stop them. They do everything they've been told by whom ever they listen to and they also spend a considerably amount of money to get their business going. There's really nothing wrong with this other than that they are too eager and too motivated to get their business off the ground. Unfortunately most of them will quite after a few months. Unfortunately this is mostly due to avoidable mistakes.
The third and smallest group are the folks who actually made it. Well, let me define 'made it' for a moment. I call a business a success if you can make a profit after you paid all the expenses and I mean all the expenses. Now you can argue if it is worthwhile to put in so much work for not much in return. This is a call that every one of you has to make on your own.
I purposely left out the group with the guys who are making more money a day than most of us make in a year. First, it is completely unrealistic to assume that you actually will achieve the same results as the 'big ones' with the limited resources you have. Second, these guys may have started as a one man show, but today they are a corporation with many employees like every other company doing big business on the internet.
Back to the 3 groups I mentioned before. Group #1, the no concept, no plan, no future group, is not even worth mentioning. They are just a waste of time. Group #3, the guys who 'made it', is out o reach at the moment. The fact that you're reading this article puts you into the group #2 category. You're eager to build your business and you're determined to make it happen. I hope by pointing out the pitfalls you will actually avoid the mistakes I made and it will bring you a step closer to your ultimate goal. Be your own boss.
Here's a list of common mistakes every startup online business should avoid.
1. Not Having a Plan
Set yourself a goal on where you want to be in 12 months after starting your online business. Without a plan, even the simplest plan, your ambitions are poised to fail.
2. Not Having Your Own Web Site
Get your own domain name and web site. There are many marketers who want you to believe that you can make lots of money without having your own web site. Make a professional staement and get your own domain name and web site.
3. Too Many Activities to Manage
Pick your affiliate and mlm programs wisely. Most newcomers fail due to the lack of focus. Too many programs will not increase your chances of hitting the jackpot. Focus on the most effective programs and stick with it. You will be rewarded in the long run.
4. Spending Too Much Money Too ......
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