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Starting a Business Online? Learn What Mistakes You Need to Avoid.

start a business onlineI usually get at least one message a day from people asking me how to make money online. It is funny  because I think I get asked this question more often than law of attraction/self improvement questions.

When I first started getting those questions I was kind of shy answering them. I would ramble something like: “Well, I don’t know much myself yet, you better look around and find someone who knows more and ask them.” Then after talking more to people I found out that I can help a lot of them and that my advice does make a difference.

Then I attended a seminar where one of the speakers said something that changed my outlook on this matter. He said “You should believe in yourself as an expert. By denying people the knowledge that you have, by keeping all that knowledge to yourself, you are being selfish, even though you might think that you are doing it out of modesty.”

So after thinking about it more and talking to more people I now give my advice to everyone who asks and really enjoy it. I even started putting together an information product that will show people who are just starting out online how they can create a business around things they enjoy doing.

But, anyway, back to the making money online thing. There are several mistakes I see people make when they start online that I wanted to talk about. I’ve been making some of them myself.

1)     Doing it just for the money.  A lot of people who start online are anxious to start making money as soon as possible. That is how I was in the beginning. Self development was always something I was very interested in and wanted to do long term but I realized that it would take a while to start monetizing this blog, build a list of subscribers and to create a product of my own.

 

So I started doing affiliate marketing with pay-per-click. This is the quickest way to make money online in my opinion, if you know what you are doing. If you don’t, don’t do it just because I said it is the quickest way, you can lose lots of money with Google Adwords if you don’t know how to do pay per click the right way.

 

I did start making money almost at once, but selling some affiliate products that I didn’t know much about nor cared about was not much fun at all. Plus it took so much of my time, that I hardly had any time left to devote to this blog, my newsletter and creating my own self development product.

 

If this business model is for you though, go right ahead, I know lots of affiliates making a fortune running adwords campaigns and enjoying it.

 

Another quick way to start making money is site flipping.  Building sites and selling them for profit. Brand new site with no traffic and 3-4 pages of content can be sold for $100-$150. If you are good at it and it takes you couple hours to build a site, that is a decent pay for couple hours of work. Rinse and repeat or better outsource and you have a nice income online. Again if that is something you enjoy doing, great. If not, don’t do it just for the money.

 

There are of course many other ways of making money online fast, but those are the ones I tried and they worked. I didn’t enjoy them though and could have better spent the time building the business I enjoy.  Well, we all learn from our mistakes.

 

2)     Treating your business as a hobby, not as a business . This is another big mistake I often see. When you are your own boss and can make your own schedule, it is very easy to skip certain tasks or to start procrastinating. Again you should choose the business you really enjoy, only then will you be motivated enough to not procrastinate.

 

3)     Not having a Vision. Often times I talk to people who have no idea where they want to go with their businesses.

 

What are your long term goals, what is your Vision? Where do you see your business 3-5 years from now? Write it all down for yourself. Even though you might never need to look for investors for your business, write a business plan. Specify all of your milestones, short and long term goals.

 

Have you ever heard the saying “Without a Vision people perish”? Well, without a Vision, or business plans for that matter, businesses perish too.

 

 

4)     Buying into one get rich quick scheme after another. I was lucky enough not to do that, but I see people all the time buying one product after another, looking for some magic pill that will make them rich over night.

 

Understand that there are no magic pills. Like with everything else in life it takes time to build something of value. You are very unlikely to start making millions overnight.

 

5)     No implementation. This is a big one. Lots of people keep learning and learning and never implement anything they learned. They think they need to be perfect and know everything before they start.

 

There is no good in your knowledge if you don’t take action and start implementing what you have learned. You will never know it all, you need to start now and learn more on the way.

Those are the mistakes that I see in others and I made some of them myself, so I wanted to share them with you.

And the two rules that I think you should follow and I will always follow myself are:

1)     Do what you love. Always Always Always do what you love and enjoy. Life is too short to do something you don’t enjoy doing.

2)     Don’t worry about making money. Think about bringing value. Money always follows value.

That was quite a long post. But I hope that some of you who are just starting online found something useful for yourself.

It takes time and persistence to build a real business, so do what you love and enjoy the process. I cannot wait to hear your big online success story!

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posted in: Entrepreneurship
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