7 Mistakes To Avoid When Starting An Online Business"

Like I have said in my previous posts, in the light of the economic situation of the country, it is important to begin an online business now. If you have decided to join other Nigerians in enjoying the fruits of online business, there are certain mistakes that you should avoid.

1. Learning voraciously:

This is a very important mistake that most people make. It is what you know that will give you continued relevance in the online world. You need to therefore read wide on the niche that you have picked and stay up to date about current trends in the industry. The more you learn about your niche, the more you will be able to solve the problems of your audience and meet their needs which will give them a reason to come back for more. Don’t just rely on copy and paste, research and present your information to your audience.

2. Build something better:

A lot of times, the inspiration to do something comes from another person who is already doing it. The irony is that, doing what someone is already doing will not give you success irrespective of the efforts you put into it. The ideal thing to do is to research on those who are doing what you are about to do. Search for the secrets of their success and the areas they are failing. Then build on it and produce something better.

3. Don’t switch niches:

Pick one niche and stick to it. When you try to create your business as a brand, people need to be able to associate it with one thing. YouTube is known for videos. Instagram is known for pictures. On our own local scene, Linda is known for gossip blog, ImportExpert is known for Affiliate marketing/mini importation etc. Pick a niche that you have interest in and then become extremely good at it.

4. Invest in a coach/Mentor:

Online business is more than what you see on threads. For instance, there is more to blogging than knowing how to write a post. Every online business has intricate aspects that you may need to learn. Do not be in a haste to rush into it. Seek a coach or mentor or get their materials. It will give you precise information that you need and save you time you may have wasted trying to figure out what went wrong.
5. Start and email list from day One:

It is important that you build an email list from the start of your business. An email list helps you maintain contact with your audience and keeps you visible in their minds. To make them want to give you their email addresses, you need to have constant good content and promise to keep them informed of new content as well as exclusive offers.

6. Dismissing negative feedback:

When you are starting out, you are obviously in high spirits and enthusiastic about the prospects before you. There is therefore the temptation to listen to your fans and ignore your critics because their feedback is crushing. It will however be wise if you learn from their criticisms and use it to build something better. Rather than take criticisms personal, use them as tools for improvement. As bill gate has popularly said, "your best customers are those that are not satisfied with your products because they show you where you can improve".

7. Waiting too long to start:

This is one of the reasons why many people delay their launch of an online business. They keep waiting for the perfect moment. The fact is, every moment is perfect if you will only look at it from the right perspective. No time will ever be perfect enough for all the lights to be green. Decide to start something and go ahead with that decision irrespective of the seeming odds.

Conclusively

As a wise man has popularly said, those who wait will get only what those who act have left behind. a popular babylonian proverb says, "The goddess of good luck goes to the men who refuse to sit and wait for it but hustle while they wait".