What's the biggest challenge for most business when going on line?
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It takes a lot more than just a nice, new and flashy website to start an online business. In my line of work, I come across all sorts of different entrepreneurs who are ready to give their 110% in order to launch the next biggest online businesses. Although they all seem eager to succeed, more often than not, I recognize the same patterns in their behavior. Most of their takes on owning a successful online business are full of some serious holes and inconsistencies. They all look far into the future, without ever considering the fact on how they’re actually gonna get there.
All newbies make the same mistakes. They all focus on gathering as much advice as possible from experienced entrepreneurs while completely ignoring the fact that every business is a story for itself. Those tips on how to avoid some of the more common mistakes in business that veterans share with these beginners are only useful if their ship is fully ready to sail. If not, their words are nothing more than just plain old jibber.
Creating a successful online business is not an easy task. It doesn’t matter how good or unique your products and services are, you’ll have to compete with a lot of other businesses for your targeted audience’s attention. It’s a competitive world out there, and everyone is looking to make some money from their expertise.
I know that this might seem a bit much at first, but there’s no need for panic. Every 60 seconds, Google receives 4 million queries. Next to that, every minute, there are 2.5mil Facebook updates and 3000 tweets. These are some pretty scary numbers. These digits indicate that even if there are thousands of businesses out there who offer the same products and services as you do, there’s still enough room on the internet for you to make some serious money by doing what you do best.
Most people fail with their first online business. There are just too many factor that you need to think about if you’re interested in making some profit. In order to help you better understand where you need to go, and on what kind of elements you need to focus if you want to see some real fruits of your labor, I have decided to make a list of few of the biggest challenges that every entrepreneur comes across when starting an online business
1. Painful Start
Once you have chosen and tested your idea to see if there’s a real market out there for it, it’s important that you stick with it, even when things get a little rough. It takes time for businesses to grow and start making a profit. Most of the companies don’t make a single cent over what they invested until the end of the first year.
A lot of experienced online business owners say that the 60-day mark is the hardest. It’s where the real challenges start. If you survive this period, then you’ll have a real shot of owning a successful business.
2. Self Doubt / Self Realisation
“Am I really cut out to be an entrepreneur?” – Everything boils down to this. Not everyone is cut out to be an entrepreneur. If you don’t have that specific mindset, that confidence when you talk about your work, and that stature, things will get really hard for you. Real entrepreneurs think a little differently from people who are not cut out to be on their own in this cutthroat business world. They use effectual reasoning opposed to causal reasoning. They are like a bartender who makes you a great drink out of everything that he has already in the bar, opposed to the guy who has to out and shop for items for the “perfect cocktail”.
This thinking allows them to develop strategic relationships, sell before they buy and only risk what they can afford to lose. Further, they don’t have a set goal in mind, they go with the flow and change with the times.
3. Unrealistic Expectations / Uneducated Management
Founders of young and exciting companies tend to grandiose views of themselves and think that they can handle every single position within their company. Development, marketing, sales – they think that they can do it all, which you and me both is wrong. Most young entrepreneurs have huge ego problems that cloud their vision and judgment. They don’t realize what they lack or that their internal biases and opinions are creating problems in why they can or can’t succeed.
All newbies make the same mistakes. They all focus on gathering as much advice as possible from experienced entrepreneurs while completely ignoring the fact that every business is a story for itself. Those tips on how to avoid some of the more common mistakes in business that veterans share with these beginners are only useful if their ship is fully ready to sail. If not, their words are nothing more than just plain old jibber.
Creating a successful online business is not an easy task. It doesn’t matter how good or unique your products and services are, you’ll have to compete with a lot of other businesses for your targeted audience’s attention. It’s a competitive world out there, and everyone is looking to make some money from their expertise.
I know that this might seem a bit much at first, but there’s no need for panic. Every 60 seconds, Google receives 4 million queries. Next to that, every minute, there are 2.5mil Facebook updates and 3000 tweets. These are some pretty scary numbers. These digits indicate that even if there are thousands of businesses out there who offer the same products and services as you do, there’s still enough room on the internet for you to make some serious money by doing what you do best.
Most people fail with their first online business. There are just too many factor that you need to think about if you’re interested in making some profit. In order to help you better understand where you need to go, and on what kind of elements you need to focus if you want to see some real fruits of your labor, I have decided to make a list of few of the biggest challenges that every entrepreneur comes across when starting an online business
1. Painful Start
Once you have chosen and tested your idea to see if there’s a real market out there for it, it’s important that you stick with it, even when things get a little rough. It takes time for businesses to grow and start making a profit. Most of the companies don’t make a single cent over what they invested until the end of the first year.
A lot of experienced online business owners say that the 60-day mark is the hardest. It’s where the real challenges start. If you survive this period, then you’ll have a real shot of owning a successful business.
2. Self Doubt / Self Realisation
“Am I really cut out to be an entrepreneur?” – Everything boils down to this. Not everyone is cut out to be an entrepreneur. If you don’t have that specific mindset, that confidence when you talk about your work, and that stature, things will get really hard for you. Real entrepreneurs think a little differently from people who are not cut out to be on their own in this cutthroat business world. They use effectual reasoning opposed to causal reasoning. They are like a bartender who makes you a great drink out of everything that he has already in the bar, opposed to the guy who has to out and shop for items for the “perfect cocktail”.
This thinking allows them to develop strategic relationships, sell before they buy and only risk what they can afford to lose. Further, they don’t have a set goal in mind, they go with the flow and change with the times.
3. Unrealistic Expectations / Uneducated Management
Founders of young and exciting companies tend to grandiose views of themselves and think that they can handle every single position within their company. Development, marketing, sales – they think that they can do it all, which you and me both is wrong. Most young entrepreneurs have huge ego problems that cloud their vision and judgment. They don’t realize what they lack or that their internal biases and opinions are creating problems in why they can or can’t succeed.
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