General

Business

When we look at some of the things that we do as business owners and entrepreneurs, especially on the online world, there are tons of things that matter.  Recently, we have talked about how to rev up your social media marketing, as well as what you should be doing for providing excellent customer service.  Well, there are some important things that we can focus on avoiding as to make sure we are more successful in our businesses online, and things that should be done in really any business, especially if you have a website and online presence that provides a good medium of communication.

I recently had a discussion with a few of my associates that have started both successful and unsuccessful businesses, about this specific topic.  One thing that we were able to conclude almost unanimously was that if you end up starting a web-based business, and end up going into too much debt, or relying too much on debt, you will end up tanking most of the time, in a truly spectacular manner.  At least with a brick and mortar store, you can sell the building and the physical product.  Online, this may not be the case, especially if you are a service-based business.  Typically, when you end up going into gobs of debt, the money goes FAR faster than if you had to work your butt off for all of those dollars beforehand.  Look for some alternatives such as crowd sourcing, your own savings, and grants to get you out of having to mortgage your life to start your business.

Another thing that online business owners fail miserably at is online marketing.  I have posted many articles about this in the past, and if there is one thing that I see people doing terrible at, is focusing on their online presence.  If you started a business in 1990, you wouldn’t have had to worry about it.  But in 2015, think of it this way:  Why do you choose where you are going to rent a hotel room, go out to eat, or go for entertainment?  How do you decide what website you are going to buy your new gadget or toy from?  You are going to be relying heavily on what you see. Take this into account when you are starting a new business and are less that excited to get your marketing plan going.

When you start a business, especially an online one, make sure you are asking your customers for feedback and for their constructive criticism.  This is not for customer service always.  Sometimes, they will tell you exactly what they want to spend their money on. A good example would be Glock.  They had customers left and right tell them they wanted a small 9mm pistol for concealed carry, one that would be comfortable to carry and not heavy.  This has been the case for quite some time.  If I had my bets, Glock will be releasing this pistol in the next 2 years, and GOBS of people will buy it.  It makes it easy when your customers tell you exactly what they want to give you money for.

Image Credit: Flickr – Yoann JEZEQUEL

Category : General

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