Business Mistakes: You Want a Successful Business – So Don’t Do This!

All entrepreneurs have to learn from their own mistakes as they build their business, but wouldn’t it be great to have some one tell you what the common mistakes are and how to avoid them? Well here are the common business mistakes – don’t do them!

1. Believing that you will start earning straight away. All businesses take time to establish themselves – even internet based ones. People need to know where you are, what you sell and most importantly, that they can trust your company to deliver what it promises. Expect to spend at least 6 months working away at your business before you break even – sometimes longer.

2. Believing that you can set up a business and it continually earns for you. Even a very profitable business needs continual management to ensure that your profit does not erode. Your products and marketing need to continually change to meet the changing circumstances in the real world.

3. Believing that you can earn whilst you are aware from the office. Even if you fully automate your business and hire really good staff, there is always an element of “while the cat is away”. That is why there are so many “absent owner” sales.

4. Being a single product company. As good as your product may be, markets and tastes will change and so must you. If your product is very good – other companies will quickly take action to seize your market share by bringing in similar products at cheaper prices.

5. Not offering upgrades and enhancements. It is far easier and cheaper to sell to existing customers. You do this by offering upgrades and enhancements to their existing products. You should have a group of products at several increasing price points.

6. Relaxing after your first success. Businesses need continual effort, management and improvements. Although a product launch is hard work, you should start on your next product shortly afterwards. This will give you sustainable success and several income streams.

7. Believing that a business can be established with little capital. Marketing, infrastructure purchases, stock, advertising and staff all cost money and must be purchased in order to make a profit. Cash flow kills more business than anything else.

8. Believing that you know all you have to. Your competitors may have been in the business longer than you have, your customers may be very knowledgeable. Meeting customer needs is a constantly changing landscape and you need to keep up to date on the latest trends and technology. You need to be able to project yourself as an expert in the field you work in. If you do not have this knowledge then learn it or buy it in!

9. Not investing in your staff. Your staff are the public face of your business. They should be well trained, knowledgeable and well dressed as well as fully motivated to sell on your behalf.

Learn these lessons well, avoid the mistakes at all costs you should save valuable time and resources by doing things right the first time. Good luck.

8 Ways to Avoid the Worst Online Home Business Mistakes

Are you building an online home business? If so, you need to be aware of some of the common mistakes that many people make. Here are 8 ways you can avoid the worst online home business mistakes.

1. Avoid trying to market more than one business at a time. This can be a very easy trap to fall into as opportunities are all around and it can be tempting to try and offer a whole buffet of products and businesses. However you must not do this and learn to focus in order to succeed with your online home business.

2. Avoid the temptation to be advertising all the time. If you are not careful this can be seen as spam. Learn what the differences are between advertising and marketing and be marketing all the time rather than advertising.

3. Take the time and spend the money it takes to do it right. Too many people kill their online home businesses by trying to save money or take shortcuts. Spend the money on domain names and website hosting as well as an autoresponder and then learn what you need to do and then do it.

4. Know your target market and know it well. Learn how you can market to your target market and then do it. Avoid trying to market to and trying to please everyone.

5. Avoid putting up a website and then abandoning it or giving up and changing everything on it when you are not getting the results you want. This can cause you to lose search engine rankings, lose income and waste time. While you will want and need to make minor changes to your website from time to time making drastic changes is a recipe for disaster.

6. Avoid buying domain names for which you do not have a website or a clear marketing plan. Again this is another waste of money and you need to resist the temptation to do this.

7. Build a list from day one and have a plan for what you will offer to that list, when you will offer it and how you will build a relationship with that list. Offer insane value and avoid the temptation to spam your list or to send out offers that are not of true value to the people on that list.

8. Avoid paying for information unless you are sure that it is what you need and what you are going to get what you paid for. There are a lot of online home business information scams out there and it is crucial that you do your homework before paying for anything.

Business Mistakes You Want to Avoid Committing

Just as there are many factors that would take your online business to success, there are also several reasons why online businesses fail or opt to take the road to bankruptcy. These sellers were all intent in making their business succeed. They were all passionately sincere, however, the fact is, they were also sincerely wrong. Why? This is because unknowingly, they may have committed business mistakes that they should not have committed. If you plan to join and make it big in the industry of online selling or ecommerce, it is very important that you learn about these mistakes without actually experiencing them. We are taking you to a clearer picture of avoiding these mistakes so you can learn from others’ failures. Now, learning does not need to be costly, if you know how to maximize all the resources you have for your business. Be wise to learn in this area and develop the sensitivity to look out for business loopholes.

The top mistake that online business owners commit is starting up their businesses without appropriate understanding about the industry they are investing in. Of course you do not have to be a genius to start a wholesale dropshipping business but all it takes is completing a business research. On top of this, you can always sign up for a resource link such as SaleHoo and join in on the forums for firsthand advice from other sellers and suppliers. If you are starting up, do not rush launching your business, take it slow as you make calculated steps. On your first months, do not offer too many products or go full blast with expansion. Master the skill of achieving successful sales first.

Another business mistake is not placing much importance on the way you communicate with your suppliers and with your customers. Neglect the finer art of communication and you will soon start losing whoever customers you now have. Have a planned out system for communicating and always be available and accessible to answer quick questions from any of your customers or potential buyers, even if it means giving out your email address or mobile phone number. An opportunity to reach you is your opportunity for a sale.

Do not commit another mistake of not having a carefully laid out marketing plan. Your marketing plan will not only make business management easier but it will also regularly keep you on track. If any decision is not part of the marketing plans you have set for your business, then it will be easier for you to say no to distracting business strategies you will encounter. You can come up with your own marketing plan based on a suggested marketing plan from one of the resource links on SaleHoo. No matter how small your online business is, it pays to have a marketing plan that fits your needs and resources.

Two Business Mistakes You Want to Avoid Doing For Your Online Business

One mistake that most sellers commit as they run their own online business is not preparing for the work ahead. One important aspect of business preparation is searching for items that are high in demand. Take the time to observe what is currently in the market and what most of the customers are searching for to buy. Compare listed items to the number of similar items that have already been sold. You can also measure the demand for an item based on its pricing. You can also find result if you search for popular items listings. Better yet, your best option is to make use of the resource links from SaleHoo. These are just some of the things you can do to be able to tangibly measure the demand for a specific product. Why do you need this piece of information? This is so you can consider having items that are saleable.

After finding the right products to sell, a business owner’s work does not end here. If you think that you have been wise in not spending much investment in making your site or page look excellent, then you are committing another business mistake. Yes, you have saved money because you have opted to go for the cheapest web or page design, however, mediocrity does not attract customers. If your site or page does not attract customers, then your business will stop generating income. The first thing that customers look at from your online display are the pictures, not the product descriptions. If you want the customers to see that you are offering top-quality products, then make use of top-quality pictures. It goes without saying that you should be using a camera and not a scanner.

I have personally invested on a functional and quite expensive Nikon camera to use for my online business. It came with a tripod so that I can take my pictures with ease. At first, coming up with perfect lighting was really challenging. I have taken the time to do my own research on lighting and experiment with my own creativity as I go along.

Make sure you are taking a full picture of your items, then provide a detailed view of each. For a detailed view, zoom in your camera so you can focus on the details. When taking pictures, make sure that you are not catching a distracting background, or taking a picture of it against something that is distractingly glaring. Do not take pictures with distracting and unnecessary items such as empty coffee cups or candy wrappers. Since your customers will be unable to inspect the products for quality before they buy them, give them the chance to see every part of the product by taking pictures in different angles, thus giving them a clear idea of what they are getting as if they have touched and inspected it.