The Most Common Mindset Mistakes Of Online Entrepreneurs
Online Entrepreneurs, If you want to set up or improve an e-shop, you usually read articles on making things better and more efficient. However, you rarely read about what NOT to do. This is the delusion of a survivor rather than an embroidered one. So you only know about the influences that have worked for the few people who have succeeded. You would be amazed – there are far more failures. So you better avoid them.
You only want to go to the e-shop.
Business is a risk. And there is no profit without the risk. Therefore, such an attitude is not realistic. The e-shop needs to be dedicated – if you want to do it properly and make a profit. Investing in money and effort, taking risks can often fail. And finally, maybe. Above all, however, you must act when the market or clients need it. Not just when you’re free. You have to act like a hunter waiting for prey – keep yourself charged and shoot at the right time. Not until you finish your baguette.
You can’t sit in job security and wait for a miracle with minimal risk. You better buy a draw. If you want to do it with higher goals, you will eventually find that you should have “cut it” a long time ago and devoted yourself entirely to business.
You want to earn 2000 euros for 300 euros in advertising costs.
Again, an unrealistic idea. In business, the path to profit is most often winding and expensive. Steve Jobs also lost his company first, only to return later to become an absolute unit. It is a long-term journey and full of costs, the existence or amount you have no idea at the beginning. A successful business stands on several legs: it is about a well-known brand, the quality of what you create/sell, visibility in the market, good product or service, competitive prices, or the difference or advantage that attracts the target. For 300 euros a month, you can cover the cost of just one of these legs. Standing on one leg is very uncertain and shaky. Unsustainable in the long run.
Be prepared that some necessary marketing costs will not bring you a quick profit immediately and will be an investment in the future. You will invest hundreds to thousands of euros in the company without immediately visible profit, but you will gradually build a solid foundation for the future.
Example: Increasing brand awareness will reduce the cost of your daily hardware communication over time because the visitor will say, “What I know, I’m not afraid of that. Over time, your visitors are faster and easier to persuade to buy from you, returning visitors to buy for more money than the first visitors, etc.
It’s like a residential house – do you want to save on heating because energy is more expensive? You must first invest in insulation. You also need to invest in brand knowledge over the long term to use your future marketing costs more efficiently.
You want to be at least zero in half a year and have a high net profit.
You will not. It is a similar problem as above. Unexpected costs are waiting for you around the corner in your business. Many of them you can’t even influence, because in addition to you, there is also a lot of competition on the market, and especially the opinions and moods that change consumers who need more persuasion. Despite a few miraculous online success stories, supernovae most often have a short life.
The vast majority of business (not excluding online) is a long-term affair where profits need to be made in incremental steps. There are no shortcuts. They don’t exist. Let the over-motivated gurus tell you otherwise. To grow to heaven later, you must FIRST build the solid foundations on which your entire business is to stand. Every house has a solid, expensive, but invisible foundation because, without them, it would fall.
The analogy with building a business is the same – you will invest in marketing, sales, development, and brand building for a long time (years), and it will seem endless. You will finance costs from which you will not see a tangible result for a long time. Later, however, you’ll be glad you made it and your house didn’t collapse on the first issue. On the contrary, it has helped you grow taller. If you are serious about your business, be patient for a more extended period of systematic investment of time and money into your business until you see real and lasting results.
You expect immediate results.
You have already invested almost all your funds in your new business, and you have a new, fragrant e-shop. You just have to let it go and fill your bank account. Passes the first week, two, and no order. A month passes, and you have two. How can it not work? Why doesn’t it sell as soon as we turn on ads?
Businessman hand holding thumb finger on chrome stopwatch with seconds arrow. Flat style vector illustration clipart.
Until you have been in business for one whole trading season, at least one year, you have no idea about the seasonal behavior of the market. You don’t know when to add your marketing budget, when to take it off, in advance, etc. After the first year-long cycle, you will be able to plan your marketing budget more realistically over time and set more realistic expectations.
It is necessary to experience the whole business season – at least one year. You will find out something about the seasonal behavior of the market, and you will figure out when to add a marketing budget, when to take it off, in advance, and so on. After the first year-long cycle, you will be able to plan your marketing budget more realistically over time and set more realistic expectations.
You think you are unique.
You explain your business in words: “We do an exceptional service with such parameters combined with these services. Other competitors do a different variety, but no one does the same as we do. So we are unique, and we don’t have competition. “
You are not unique. You are all the same on the trade battlefield for a potential client—most of the differences you, the professional professionals, do not even notice. You blend in with your offer in his field of vision with other competitors. Here comes the role of good marketing that sets you apart. It is important to note that the client does not recognize you at the beginning of their search.
He has no idea about your uniqueness, and it is not as clear and important to him as it is to you. No one has time to study the whole industry and get to know all the nuances before buying. People often shop uninformed and impulsive. They use sympathy and emotions. What do they provide to your client?