COULD THIS BE YOU!! Many would be internet entreprenuers have an idea for an online business, then spend weeks, months, or even years of frustration (not to mention expense) in trying to get things up and running. There is almost too much expert advice, too many helpful hints, and just one more whizzy piece of software that must be had to garauntee success! Let me tell you, there are some serious traps for
well intentioned, thoughtful individual who wants to create their own, online, dream business that can ultimately become massive barriers to their success. If you want to avoid these pitfalls, then read on.
1. Lack of a clear plan
It's all too easy to fire up your computer without clear intentions, and find that after two or three hours of effort you have achieved nothing. Anyone serious about building an online business would be well served to hatch their business plan with
PC switched off. The same basics of business found in
offline world are just as relevent to
internet, a fact often forgotten it seems. Try focusing on these common sense factors:
What am I trying to achieve here, and what are my business goals?
Specifically, what are
returns I desire from
effort I will put in?
Who are
people that can help me to achieve this?
What have I got that they want, and how can it be provided?
Where can I find these people, online or offline?
How will I communicate with them?
Can I appear to be both knowledgeable and passionate about this?
This is really common sense, you'll agree. But you would be amazed at
number of people seeking my help who cannot express their plans in detail, and, through this neglect, cannot focus themselves on
key business building activities required. Your time online may well be limited by other commitments in
early days, so use it well!
2. Confusion over
target market
This is a problem I regularly come across in
offline world, when consulting with clients from
leisure and restaurant industries. It is very tempting, but completely impractical, to offer something for everyone. Any business needs to identify its core customers, and invest time in satisfying their needs. Your infant business will grow to maturity through finding hungry groups of customers, and satisfying them by solving their problems in a timely and cost effective way. The more you refine your understanding of your target (core) customers,
better you will become at solving, and sometimes anticipating these needs. So..........
Where do they gather?
What do they read / listen to / talk about?
What are their common problems?
Do you have / can you develop a solution?
What might their future needs be?
Take time to think this through - because
devil is in
detail. Your aim should be to become
dominant force in a well defined niche,
respected expert in a topic that you should also find passion in. Get this right and you'll soon have people beating a path to your door, get it wrong and you'll wander in
wilderness for a long time!
3. Lack of specialist skills:
Most people hide a small inner fear that others may be better equiped, more knowledgable, more confident than themselves - especially when they are starting out with something new. It's a natural response, an insecurity, that can become another barrier to success if not conquered at an early stage of your business career. It can also be said that every individual comes with their own, unique set of skills and experience that can be readily applied to any arena. So, what do you know?........what can you do?
Your hobbies & interests could provide a rich source of specialist knowledge.
Your offline work life, and relationships, are a priceless experience.
You may have a particular skill to teach, or inform others.
Could something from previous acedemic study be turned into a business opportunity?
Are you involved in charitable works that merit wider publicity?
Do you hold strong beliefs, on any topic, that others may want to share?
Really, there is a market or audience for virtually any topic you can think of,
more specialised
better, (and you have
whole world to shoot at with an internet business!). Find your passion, and
rewards will follow. Especially if you don't yet know what
focus of your business will be (but you know you're going to do something!), make a list of all
things that get you excited. Somewhere in there will be
unexpeceted topic that could be your real winner,
one thing you would do for free every day through sheer enjoyment. How many other people in
world would share your passion!
4. Analysis Paralysis
I confess.......I'm a sucker for information. I like to have
full detail on a product, service or opportunity before I'll act. I've also lost count of
number of internet "gurus" I listened to in
early days of my online business, as I tried to get things started. But there comes a point when you just have to do something, or stagnate. Take
broad, general, themes of
information available to you - then get yourself into motion!