{"id":2403,"date":"2016-01-25T09:00:40","date_gmt":"2016-01-25T15:00:40","guid":{"rendered":"http:\/\/teamprojectmayhem.com\/blog\/?p=2403"},"modified":"2016-01-25T06:12:16","modified_gmt":"2016-01-25T12:12:16","slug":"top-3-mistakes-when-starting-an-online-business","status":"publish","type":"post","link":"http:\/\/teamprojectmayhem.com\/blog\/top-3-mistakes-when-starting-an-online-business\/","title":{"rendered":"Top 3 Mistakes When Starting an Online Business"},"content":{"rendered":"

With the development of various e-commerce platforms, social media, and the wide reach of the Internet, everyone and his Aunt Betty is talking a good game about starting an online business.<\/p>\n

Geographic barrier is for most part a non-issue. You can put up a website (or not) for peanuts and sell ebooks on obscure subjects. Nobody has to wait for some big wig in some big company to give the \u201cgo-ahead.\u201d<\/p>\n

We can blaze our own trail and write our own ticket \u2013 live the American Dream! Or so we are led to believe.<\/p>\n

So many \u201cmarketers\u201d or \u201ccoaches\u201d are pumping their fists about the \u201cjust do it\u201d and \u201cfollow your passion and the money will come\u201d bit.<\/p>\n

Unfortunately, what separates those who actually make it, from the ones who are just talking about it, is some good ol\u2019 elbow grease.<\/p>\n

So forget about \u201cif you build it they will come\u201d and take a moment (or two) to make sure you are not making these 3 critical mistakes in your online business:<\/p>\n

 <\/p>\n

Mistake #1 \u2013 Not Sticking Your Neck Out<\/h2>\n

Bad news: if you build it they probably won\u2019t come \u2013 because they don\u2019t know you exist.<\/p>\n

Good news: there are more ways than ever to let them know you exist \u2013 if you are willing to stuck your neck out.<\/p>\n

If you don\u2019t promote, you don\u2019t get traffic. If you don\u2019t get traffic, you don\u2019t get to sell anything. If you are not generating revenue, you don\u2019t have a business.<\/p>\n

You can\u2019t hide behind \u201cwriting more blog posts\u201d or \u201chaving to create this product first\u201d before you promote yourself. Your stuff is just taking up bytes if it\u2019s not benefiting anybody.<\/p>\n

There are many fears and stigmas around self-promotion holding us back from finding the people we can help and telling them how we do it.<\/p>\n

Yes, promotion is that simple \u2013 nothing pushing or yucky needs to happen. You validate your idea, find the people who need your help, and tell them about what you have to offer.<\/strong><\/p>\n

The key is talking to the right people \u2013 promote where the demand is, and you will get a response.<\/p>\n

Self-promotion goes against many of our conditioning \u2013 don\u2019t toot your own horn, be humble, be seen and not heard, don\u2019t speak until you are spoken to\u2026<\/p>\n

Reframe your fears. Nobody is judging (until you get really big, and by then, you won\u2019t care). Be way more relentless and persistent than you think you have to.<\/p>\n

Know that your solution is needed. If you can help, it\u2019s your OBLIGATION to tell your potential buyers.<\/p>\n

 <\/p>\n

Mistake #2 \u2013 Not Loving Them Up<\/h2>\n

Money IS in the list \u2013 if you do it the right way.<\/p>\n

A majority of your revenue will come from a small segment of your list \u2013 they\u2019re the loyal clients\/customers who will buy (almost) everything you put out, which means they have a high lifetime value.<\/p>\n

The higher the lifetime value each customer has, the more you can invest in generating lead \u2013 which means you can invest more money in marketing and promotion (see #1)<\/p>\n

Big question is: how do you get your subscribers to stick with you and buy from you?<\/p>\n

Optimize for the relationship<\/a>, not the sale.<\/strong><\/p>\n

\"connection<\/a><\/p>\n

When you build a relationship, you are not just competing on price and feature. You create loyalty.<\/p>\n

Don\u2019t jump right into selling when someone joins your list. Take the time to build trust by giving value, and let your subscribers know that you give a crap<\/a>.<\/p>\n

Set up a system so you can nurture the relationship before you \u201csell.\u201d<\/p>\n

Don\u2019t speak like you are some big faceless corporation. You are a human being, making a connection with another human being, so you can understand their needs and help them with your expertise.<\/p>\n

\"when<\/p>\n

 <\/p>\n

Mistake #3 \u2013 Not \u201cMarketing\u201d From the Get-Go<\/h2>\n

Marketing starts on day 1, before you create a product.<\/p>\n

Marketing involves listening to what your customers\u2019 problems are, so you can create a solution they want to buy<\/a>.<\/p>\n

Marketing involves building relationship with your list, so they know you care and pay you (instead of the next guy) for your solution.<\/p>\n

Marketing involves letting your ideal clients know about your expertise by sharing your knowledge, so when you launch a product, it becomes a natural continuation of the process in the conversation.<\/p>\n

The more connection you build with your audience, the more likely they\u2019ll buy from you, and the easier the actual \u201cselling\u201d becomes.<\/p>\n

By asking and listening to your list, you\u2019re validating your product idea.<\/p>\n

Many people make the mistake of creating an epic product behind closed door, only to find out they wasted 6 months of their lives making something they *think* people want, but not what they are willing to pay for.<\/p>\n

Start small, listen, have something to sell, validate your idea while you make money\u2026 rinse and repeat.<\/p>\n

 <\/p>\n

Online business is an opportunity, not a magic trick. You can\u2019t hope a few nifty little plug-ins will make your website the best thing since sliced bread.<\/p>\n

Like all profitable and sustainable businesses, it\u2019s about PEOPLE. You are building relationship with people, who pay you for your products and services.<\/p>\n

The Internet offers us the opportunity to reach more customers at a larger scale and faster pace. The rest is up to YOU.<\/p>\n","protected":false},"excerpt":{"rendered":"

With the development of various e-commerce platforms, social media, and the wide reach of the Internet, everyone and his Aunt Betty is talking a good game about starting an online business. Geographic barrier is for most part a non-issue. You can put up a website (or not) for peanuts and sell ebooks on obscure subjects. … Read more<\/a><\/p>\n","protected":false},"author":36,"featured_media":2424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[5],"tags":[399],"class_list":["post-2403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing-training","tag-marketing"],"jetpack_publicize_connections":[],"yoast_head":"\nTop 3 Mistakes When Starting an Online Business - Team Project Mayhem<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/teamprojectmayhem.com\/blog\/top-3-mistakes-when-starting-an-online-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Top 3 Mistakes When Starting an Online Business - Team Project Mayhem\" \/>\n<meta property=\"og:description\" content=\"With the development of various e-commerce platforms, social media, and the wide reach of the Internet, everyone and his Aunt Betty is talking a good game about starting an online business. 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