After 5 years in online business I’ve seen a few things that would make your hair stand on end, your toenails curl, and your stomach sink.
I’ve heard just about every business idea and crackpot scheme and met the full range of online geniuses and hacks.
Whether they sell a $40 ebook on toe fungus slot removal or 5 million dollar yachts to Arab oil sheiks, the difference between the successes and the failures comes down to making s few simple mistakes.
Mistake #1 – Looking For The Undercover Market
Ask any bank robber why he robs banks and he will tell you, because that is where the money is!?
Yet, in the online world, thousands, even millions of people try to build a business on undiscovered markets. The problem with doing it this way means you will take longer to succeed and operate with a much higher risk of failure since you don’t know the market has proven itself profitable.
Always pursue proven markets where customers already spend money online and view competition as a sign of a healthy market rather than something you should avoid
Mistake #2 – Focus on the same old techniques in a different dress
Many people fall into the deadly trap of spending a lifetime (or at least a few years) using the same advertising techniques to perfect their product whether its a book, a video, or literally a new mousetrap.
They spend all their time creating the perfect product then use the same advertising methods whether they work or not. .Then, the instant they try to start selling it, reality smacks them upside the head when they do not produce adequate results They lose interest once they must get down to the serious business of marketing. Even worse, some adopt the attitude that selling is distasteful and all they want to do is create.
So what’s the solution? Try sponsored advertising. This is a little known yet highly effective way to get your product into the hands of prospective buyers without using any of your own money.
The way this method works is a company will advance the cost of marketing your product in return for a percentage of the profits. This is not new. There are many companies that will do this depending on the product. However they aren’t going to beat a path to your door. You have to know how to find them.