You have seen some legitimate money-making mobile app such as Swagbucks, CashPirate, Fronta, iPoll, Field Agent, ShopKick, Streetbees, Curious Cat, Citizen me, Feature Points, Roamler and Foap, or celebrated e-commerce sites such as Amazon, and you want to try your luck online. You want to build an online business empire that will help you achieve your life goals. Wise move!
You have read in blogs and sites that starting a business online starts with satisfying the needs of your target market and building trust and credibility. Nonetheless, you need to know that the factors that affect whether your investment will be a smashing success or not don’t stop at that. There is more than meets the eye.
Starting an online business doesn’t have as many stumbling blocks as starting a physical store, but ironically, a majority of people who start them fail terribly due to some mistakes that seem obvious. Some of them include;
Not having a plan
Just like everything else on earth, you cannot succeed in your online business if you do not have a plan from the word go.
Whether you want to become a freelance writer or you aspire to have a huge e-commerce store, you first need to have a meeting with yourself and come up with a strategy of attack that will have well-defined goals and objectives.
In your plan, determine how you will sell your old phone and other devices, and buy new ones that will supplement your quest to building a successful online business.
Of course, you will not need a business plan, but you will need to answer the following questions:
- What are the short-term and long-term goals for my business?
- Who are my target customers, and how will I get to them?
- What job boards do I need to target?
- What will I do to ensure all transaction is secure?
If you are starting a business that will require initial capital, look at the amount of money you have right now, plan for it, and determine the amount of time it will last.
Ignoring customer service
Since you are earning good money online, you might forget that your clients are real people who have feelings, and the experience you give them might lure them to come back for more, or go away for good.
Whether you sell goods or services, or you are just a freelancer on Upwork, how you handle your clients is as important as the quality of services you offer to them.
Develop a culture of good communication practices, and embrace interpersonal skills that will help you develop a rapport with your customers. In the end, you will; delight in new and repeat business, which will in turn speed up the achievement if your personal and business goals.
Undervaluing your products or services
Some people will tell you to undervalue what you are selling when starting your business and hike the prices when your business grows. This is one of the biggest mistakes you should avoid!
The goal of your online business should be to make a profit from the word go. Nothing less!
Therefore, let no one lie to you that you need to sell your products at half price, or charge a few cents per word as a freelance writer so that you can get ratings that will attract new business.
When starting, you can give discounts to your clients or give free shipping, but regardless of what you do, make sure you are making profits!
As you avoid the mistakes mentioned above, engage your target market through social media and other avenues. Let your clients feel that they will get value from your business, and you can rest assured that you will get the business success you have always desired in no time.