4 Common Mistakes That New Online Business Owners Make

Welcome to Episode 12 of Season 1 – 4 Mistakes That New Online Business Owners Make

Season 1 of the podcast is all about how you can start your first profitable online business. This season draws its shows from the free downloadable resource 'The 13 Steps to Creating Your First Profitable Online Business.'

In todays show we cover 4 Mistakes That New Online Business Owners Make. 

To be honest, it's not just new online business owners who are making these mistakes. So let's dive in and get you back on track to serving your market place.

Mistake # 1: Trying To Come Up With The Perfect Plan

If you're someone who isn't taking action until you have the perfect plan then here are 3 reality checks:

1. There is NO perfect plan
2. No matter how good your plan is, it will need adjusting once it gets implemented.
3. By the time you've crafted this perfect plan... conditions have changed! We live in a world that has an incredible pace of change. Be quick or be left behind!

Mistake # 2: Wanting To Be Perpetual Learner

Now don't get me wrong. I believe in learning and growing everyday. I even close out the show saying 'kaizen' (Japanese for 'continual improvment').

What I'm talking about here are the people who never take any action because they always feel like they don't know enough and therefore need to keep on learning. They mask their fear of failure by needing to learn more, and so they go from course to course to course and never implement anything.

This is why getting coaching is so important, because a good coach will see through your rationalisations and give you a good kick in the behind to get you doing what you should be doing. (If you're interestead in my coaching offerings then CLICK HERE. so you don't  fall pray to these mistakes that business owners make.)

Mistake # 3: Assuming You Know What The Customer Wants

"The graveyard is littered with brilliant business ideas that no-one cares about."

Clive Smit

So how do you know what your customers care about?

You ask! Ryan Levesque wrote a great book called Ask. grab a copy of his book. I personally have the audible version.

Here are some examples of questions that you can ask your clients:

• What challenges are you facing?
• What fustrates you the most in your day to day _____ ?
• If you could change one thing about _____, what would it be?

But what if you don't have any clients yet?

Talk to people who fit your target market. Let them know that you are thinking of creating a product / service and ask if you can get their opinion.

The mistakes that business owners make here is that they ask people if they'd buy their product / service and people, beeing polite, will say yes. Then, you rush out and spend a heap of resources building a product or service and then no one buys from you.

Let me make it clear. The only way that you know if someone will really buy your product is if you get them to pre-order it! 

Tell people that you're thinking of putting together a product and service if you can get X amount of pre-orders, and give them the link. If people pre-order, then you know you are on to something!

Mistake # 4: Giving Up Too Soon

Unfortunatly, the online space is filled with a lot of BS marketers who tell you that if you buy their program that you too can be making 6 figures in 6 months. The difference between you and them though, is that they have an extensive list and network, not to mention experience.

Learning requires an investment of time and finances. We understand tis when we go to university, but we forget it when we start our online business.

"Success is inevitable if you are consistent."

Clive Smit

So don't give up. Persevere. Instead of comparing yourself to others success who have been at the game for 10 years, remind yourself that they too started from scratch. They too experienced many failures and had to continually take imperfect action. Remind yourself that they persevered and that if they can get there, so too can you!

Leave a comment and let me know what you thought of this episode and what your greatest challenges are that you are facing.

In The Next Episode:

In the next episode we'll  look at Systems That Create Stress Free Success

I look forward to reading your questions and comments!

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Show Sponsor:

This show is brought to you by my coaching program: Business Success Foundations.

This is an 8 week coaching program that covers all the essentials so you can start your first profitable online business.

Stop dreaming about being your own boss and design the life you love by getting your online business off the ground!

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