What was your biggest business mistake?

What was your biggest business mistake? What did you learn from it?

Share your story below! Let's learn from one another!

 

1- taking customers for granted
2- thinking online business is easy
3- having an "ego" for customers, like they own me something.

Good things that i learned.
To quote gandhi.

“A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our work. He is the purpose of it. He is not an outsider in our business. He is part of it. We are not doing him a favor by serving him. He is doing us a favor by giving us an opportunity to do so.”

 

1) without proper research, don't ever invest large amount just because your competition are making money!
2) Do open PPC campaign time to time, don't just set & forgot!

These are my two biggest mistake, I've made just recently on previous year.

 

1) not colo my own equipment, whom who have given you access to there server are very extreme, and unfortunately. are not very knowledgeable about the Linux system.

Has cost me quite a bit of money hosting with other firms.

 

My biggest mistake in my online business was getting complacent with success. I had an excellent affiliate network that started out with a single site and expanded into over 20 that were bringing in a decent revenue on a monthly basis. For the first 18 months I constantly worked on the sites and developed new ones, exploring ideas. I came up with a methodology to try new sites and niches, following it religiously for almost two years.

And then I sat back, cashed my commission cheques and let the whole thing fizzle. Eventually I closed most of them down and sold anything remaining that had some value for a fraction of what it was worth once upon a time.

I still have a successful online business in a service capacity, still do well on freelance projects but am now working on restarting that affiliate network from scratch.

Lesson learned? Don't get complacent. Keep setting new goals when you've accomplished the ones you previously set for yourself.

 

Not researching a niche and not planning. Planning and research is crucial to success in business. I'm sure many of us have made this mistake, but it cost me a lot. I learned from it though, and I'm now very efficient when doing keyword research and creating business plans.

 

Lost almost $3k buying websites and they had no value and all scams.

 

My biggest business mistake was to assume that I couldn't start up on my own. My parents being *very* successful convinced me to go to work for them after I left university. It was difficult as employees around me felt that I was being favored. My parents wouldn't take my ideas without picking them apart and criticizing them.
When I left there were hard feelings, but here I am and I've done quite well.
Lesson learnt is to have enough confidence in oneself to go it alone. Also think twice before attaching your horse to your families wagon.

 

Probably getting to focused in a current trend and following it until it ran out. The internet is always changing if you are not constantly looking for the next trend you will get left behind.

 

Not taking action when first starting out.

 

Thinking webdesign and web development meant the same thing. The rest were not mistakes but valuable lessons.

 

Perseverance is key. I have been on internet business for more than 7 years and I am yet to make a dent in any major way. The reason is simply because I did not have perseverance to get one thing done at a time. I always jumped from one idea to another. It is only over the past 6 months that I have started realizing this and have started working towards it. That's showing great promise already.

 

Yes, if you wait too long to jump on an idea, you might lose your chance to make a fortune. I myself had a tendency to take on too many projects at once. I learned to stay organized.

 

In my starting Days. I started a website but earning more quickly I have done lots of experiments
with that site and one day I delete it and again redesign but got nothing not a single penny.
and wasted lots and lots of time.
SO, Final message is that there is no shortcuts for earn more We have to do Work hard and Implement
thos With SMARTNESS.

 

1. Not bravely invest on a profitable project when opportunity came - sometimes, excessive carefulness may harm your business.
2. Not build email lists at the beginning - when start building email list, Not split test and optimize sale funnel
3. Get distracted by people and other stuffs - stay focusing's always the key.

 

Trusting a freelancer for making my website that was the worst decision i made and was a complete waste of time and money. I guess it is pretty easy to find writers but not easy to work with a freelance web designer.

 

Yep plus if you don't take action right off the bat, you might not start your project at all.

 

Believing in every sales page that I opened. I wasted time, money, and effort. If I'm going to meet the me 3 years ago, I'd slap him in the face - using a sledgehammer.