1 year, 6 months ago
via ask.inc.com
Online business owners: what were some of your mistakes?
I'm considering expanding my own (home-based) business online and I firmly believe that I can learn from others' mistakes. What were some of your "biggies" and what steps did you take to fix them? I know it isn't easy to admit goof-ups but I'd appreciate any insights others can provide.
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M$1 Answer
I can recall two things that looking back on now I regret: not having a niche and not promoting my business. Having a niche would have allowed me to stand out from the pack from the get-go rather than just falling to the end of the pack. With the stiff competition for online companies these days, that is one mistake I'd never make again. Secondly, we failed to promote the business sufficiently. We set up a good product and just expected to have customers come to us. Wrong! A little promotion and advertising would have done a long, long way. Those two things really stick out to me as something I would recommend to others to think about, while are by no means all that should be considered, like providing a good product or service, presenting it well, etc.
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