In today’s video blog post I am going to walk you though the top ten mistakes that many online business startup entrepreneurs make and then talk about the strategies you can use to avoid them.
I am happy to do this because if there is any mistake you can make as an online entrepreneur, I have made it and I know how costly mistakes are both in terms of time and money wasted.
It has taken me years to perfect the method and system that I teach today, I guess you could say that I learned from the mistakes I made and that qualifies me to help you.
Prior to creating The Prosper Method™, I launched three websites based on the latest “guru” system and I failed miserably. Each time I was at the brink of giving up on my dream.
It took me awhile to get everything together into what I now call, The Prosper Method™. I have a bunch of information for you that I will share in the next few blogs.
For today, I want to help you understand the top 10 mistakes that many online business startup entrepreneurs make and what you can do to avoid them. I created a short video for you with a simple outline and a couple of links to getting some great resources that you can follow.
Please leave your questions and comments below.
TRAINING NOTES FOR: Top 10 Mistakes Online Business Startup Entrepreneurs Make …And How You Can Avoid Them
Mistakes… the PROOF that you are trying
- Everybody makes mistakes. In this training you’ll learn about the top 10 mistakes that many startup entrepreneurs make.
- You’ll also learn a few strategies you can use for going forward.
Mistakes Happen…
- I’m going to give you a summary of the top 10 mistakes to avoid as a startup entrepreneur.
- Since I’m intimately acquainted with them I can show you how to avoid them.
- That will make me feel great because I know how costly these mistakes are both in time and money.
Startup Mistake #1: Not Building a Business That You Absolutely Love
- Building an online business is one of the most important things you will ever do—it can make a huge difference in your life.
- It’s important to pick a business you enjoy so you stick with it when things get tough.
- Being passionate about your business gives you energy and momentum—momentum is crucial in business.
A wise man once said,
“Do something that you absolutely love to do and you will never work another day in your life.”
Startup Mistake #2: Failure to Follow A Proven Business Model
- Franchise businesses have been successful because they have been proven to work time and time again.
- If you want to build a profitable business with great income, you don’t need to reinvent the wheel.
- Find out what’s working for others and model that—especially important for startups.
Startup Mistake #3: Building a Business That Only You Can Run
- Don’t make your business so complicated that only you can run it.
- Take a long view of your business by building it with an exit plan.
- Maintain a vision of stepping aside one day to let others run your business.
Startup Mistake #4: Not Growing Your Business For Speed
- A stagnant business is no fun for anyone—for you, your team or your customers
- To make sure you grow rapidly, focus half of your time on “money-making activities.”
- Marketing and selling are money-making activities.
Startup Mistake #5: Thinking That All Marketing Methods Are Equal
- Some types of marketing are a complete waste of time.
- Online marketing methods are more effective than traditional marketing methods.
- Don’t copy what big companies are doing—learn Direct Response Marketing
Direct Response Marketing:
Direct response marketing, is designed to evoke an immediate response and compel prospects to take some specific action, such as opting in to your email list, picking up the phone and calling for more information, placing an order or being directed to a web page.
Direct Response marketing uses:
-compelling headlines and sales copy
-targets a specific niche audience
-makes a specific offer
-demands a response
Startup Mistake #6: Not Installing An Automated Lead Generation System
- Automate as much as you can with powerful and inexpensive tech tools.
- Build core products, structures and systems to leverage your time 24/7 and work for you.
- Test your marketing email messages and put them into a sequence to use in future campaigns.
Startup Mistake #7: Not Enough Communication With Your Customers
- You don’t have to worry about sending too many emails as long as you are giving valuable information.
- Most customers are in the education phase—they value learning something useful.
- Send 2-3 educational emails to your customers each week.
Startup Mistake #8: Not Building A Product-Service Value Ladder
- Customers need a path to follow that leads them into additional purchases.
- Some customers have more money than others for additional purchases.
- Make sure your Value Ladder has several products at different price points.
Startup Mistake #9: Not Managing Your Time & Productivity Effectively
- “Time is Money”. Time is your most valuable asset.
- Most entrepreneurs have very little time to waste.
- It’s critical to develop strong productivity habits.
- Let’s face it, it’s easy for passionate entrepreneurs like you and me to fall into the habit of unbalanced work habits.
- If you need help with time productivity like I did, here is a course you can take:
- Eben Pagan’s Wake Up Productive online course.
Startup Mistake #10: Not Growing By Continually Educating Yourself
- Successful entrepreneurs never stop educating themselves.
- Focus your learning on critical key success factors—marketing, product development, buyer influence, productivity and profitability.
- Growth in your business gives you new roles to fulfill and new opportunities for greater growth.
Startup Mistake #11: Not Adequately Planning Your Business
- “Failing to plan is planning to fail.”
- Planning doesn’t have to be complicated or take a lot of time.
- I have a FREE Business Planning Guide to help you develop a simple but effective One-Page Plan.
I’m Here For You!
Feel free to contact me…
Email me: rebecca@theprospermethod.com
Join my Facebook Community: The Prosper Method Group
Don’t forget to leave your questions or comments below!
Get your FREE Business Planning Template Guide here.SEND ME THE BUSINESS PLANNING GUIDE
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