What mistakes have you made in your online Business.? what you think how to improve your business? What major mistakes do i see other Internet entrepreneurs make? that There are a lot of them and I discuss them in great detail in the course, but I will briefly mention a few here. 1) Having an ineffective web site that does not turn visitors into sales. This is a very tricky thing to do (that most people do not understand), and I devote a lot of time in my course in how to make a web site profitable. 2) Putting all your eggs in one basket. Trying one technique and thinking it will make you a fortune. You need to diversify your marketing efforts into different promotions to see which ones pull the most net profit, and then concentrate on those. 3) Having a poor "sales process" in the marketing campaign. That is the manner in which you interest the client into coming to your site, then lead him into a good rapport with yourself, and then - and only then - asking for the order. Most people break the link at some point and lose the sale. That is why most sites only see one sale out of every 200-400 visitors (and some even worse).
Some I have seen cry about the lack of traffic and sales, yet they do not apply themselves to getting back links and promoting their business. There are very few businesses that you can create, online or off, that you can just open and get customers with little effort.
My biggest mistake are probably failure to target the correct segment for my site. I run a free classifieds and social networking site, so I initially targeted just about everyone. Which was a big mistake, and costly one. Later I narrow down my target segment and keyword "free classifieds", and our conversion rate is much higher now.
I bought more domain names than I had time to develop. I had some good ideas, but unfortunately, only 24 hours in a day.
My largest mistake was not planning everything out dollar for dollar before hand. Make sure you have enough money before you get in too deep.
I did not do my last post right, mistakes I have made. Well, let me make a short list here. Back when I first started the lack of an overall plan really goofed my up. I felt I had to get everything done at once, jumping from project to project, and getting no where. Relying on others to accomplish some tasks is okay, but I would delegate a bit too much, putting people in to a position where they could make or break me. Natural human laziness usually made for the worst. Working with too many people, each wanting the project(s) to go their way, usually ends up being a goat rope. Too many partners that are all equal does not work. Always make one person the senior partner and layer everyone like a cake. Having a plan that you stick to, but is flexible enough to be adjusted as markets change, is a must, and time management is an absolute. Buying the domains isn't the problem, letting them sit idle is.
One of my biggest mistakes is... I spent some unnecessary money obtaining some backlinks that did not send me very much traffic.
I am just now starting to ramp things up on my first site. However: 1) I seem to have acquired a lot of domain names that are not doing anything right now 2) My assumptions about my intended customer may be wrong. That would be quite bad! However, the votes are not all in yet, so I am going to see this thing through. For me and people like me just starting out, you sometimes have to go through these stages and make some mistakes just to get yourself going. I waited a while to even try my first site (for lots of reasons). Now that I am at least moving in a direction, I am able to see what is wrong (or at least what I THINK is wrong) and make corrections. I think the BIGGEST mistake you can make is to spend so much time analyzing what it is you want to do THAT YOU NEVER DO IT! Presumably, those of us here have made it past that point.