5 Common Mistakes Online Entrepreneurs Make
Every 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 tails between their legs. Like the fox and the sour grapes, they tell themselves that the entire internet marketing industry is a scam and that everyone who is successful is a scammer.
In reality, most of these beginners make cardinal errors in judgment and sabotage their own chances for success. To become a successful online entrepreneur requires knowledge, perseverance, a pinch of luck, patience, and a whole lot of “mass action.”
There is no other way to succeed online. The illusion of a portable lifestyle on some sun-soaked beach in the Caribbean is exactly that: an illusion. It only becomes a reality when you’ve gotten down to business and installed automated systems that generate passive income day after day, month after month.
To get to 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 mire and mire of mediocrity. Maybe that’s a bit harsh, but it sure drives home the point.
1. Wait until you feel ready
This is the biggest mistake of all. Most beginners are stuck in a hamster wheel of learning but not doing. They put their little paws in every ebook they find, they watch every YouTube video on how to make money, they attend every launch fest disguised as “webinars,” but they don’t do the only thing that matters.
THEY DO NOT TAKE ACTION. This is the most important step. You learn by doing. You can’t learn to swim if you don’t jump in the pool. Start doing it and you’ll overcome your momentum and get the ball rolling. You will start to see results and you will know what else needs to be done to be successful.
2. Your business model is not passive
Initially you may need to do everything yourself because you are just starting out and learning the ropes. You may be starting your business and funds are tight. This is perfectly understandable.
However, your business should be able to function without your presence when successful. You should be able to scale your business online by automating tasks and outsourcing when necessary.
To really succeed online, you will need the help of others. It is impossible to do everything yourself. Hire people to handle your support, do your graphics, or create your content.
Focus on doing only the most important income generating activities. The other weird stuff can be handled by your virtual assistants.
3. Expecting success online because you have a degree
It can be a huge ego blow, but your grades on paper don’t hold much validity in internet marketing. Many newbies fresh out of school with impressive grades expect it to be a doddle online.
When the reality hits that your degree has no bearing on your success, it can be a bitter pill to swallow. Being an online seller is about profit and not salary. If you’re looking to get hired at a company, your college degree will matter.
When you sell online, your customers don’t give a damn if you have a degree or a Dalmatian. They just want products that are valuable and help them. If you can deliver these two, you will get the money. The focus is always on the customer, not the fancy credentials after the customer’s name.
4. Not adopting a profitable business model online
When starting out online, there are many ways to go. Some can scale up and become tremendously profitable, while others have invisible ceilings. If you become an infoproduct creator, you are only limited by your imagination and skills.
However, if you become an article writer at an online content mill, your earnings will be determined by what you get paid. Also, he will only be able to take on so many jobs in a day because his time is limited.
Always choose a business model that allows you to scale and where you can set your own prices.
5. Focus on your strengths
This one is also big. You absolutely MUST stick to 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.
Don’t try to become a writer and struggle to write and sell content because you heard that’s where the money is. Or try jumping into graphic design and spending five hours creating a monstrosity.
Focus on your strengths and exploit them to the fullest. You will shine at what you do and earn 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 your strength to begin with. The vicious circle never ends.
All online entrepreneurs should do their best to avoid these 5 most common mistakes and find success online.