If you’re a new small business startup – even if you’re the only person working for you (and none of your family or friends really have much faith in this)- you have high ambitions. You don’t want to be working for someone the rest of your life. You want to be your own boss.
However (yes, someone has to say this) … did you know the vast majority of small business ventures fail before their first year? Don’t misunderstand me … I’m not trying to discourage you. I’m trying to encourage you. How? By stating this simple fact: most of those failed business attempts made some serious mistakes, and most of those mistakes were avoidable. If you can manage to avoid them, then you’ll set the stage for your own success!
You see? I am trying to encourage you! Now, what are some of the mistakes you might make (unless some really cool guy came along and told you to avoid them)? Well, I’m glad you asked, because here are three fatal mistakes you need to avoid with online marketing.
1. Not Establishing Reasonable Goals
If you don’t have any clue what your expectations will be, for example, in three, six, nine, and 12 months, how could you possibly gauge when and if you’re on the right or wrong path? You couldn’t. You need to establish goals. But look at the key word up above … reasonable. Sure, you want to be financially independent by your next birthday, but what does that mean? Okay, you want to be a millionaire. Great. Is that reasonable? No, it’s not, so let’s get back down to planet Earth here, shall we? Set measurable goals that are reasonable. Remember, you can (and often should) change those goals as you get more data in.
2. Getting Impatient
It takes time to build a following and make sales, especially for some types of businesses. You might go three weeks or even two months without a single sale when you first start out. Should you pack it in and give up? Not necessarily. You build momentum and yes, it’s slow at times and yes, it’s frustrating, but the moment you get impatient, that’s the moment you start pushing too hard, burn out, and really annoy whatever following (prospects) you worked hard to gather.
3. Putting All Your Effort Into One Online Marketing Strategy
You know that Facebook ads are successful. So that’s what you focus on to the exclusion of all other marketing methods. So why aren’t you generating any real, solid leads? You need to focus on many facets of online marketing, not just one. You need to respect SEO and those keywords. You need to understand the value of your website’s design. You need to see pay-per-click marketing for what it is. You need to understand the value in email marketing. You need to have a multi-tiered and multi-platform approach. When you have diversity, just like a stock portfolio, you maximise your chances of success!