7 Deadly Mistakes People Make...2020/04/07  · 7 Deadly Mistakes People Make When Taking There...

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Transcript of 7 Deadly Mistakes People Make...2020/04/07  · 7 Deadly Mistakes People Make When Taking There...

Page 1: 7 Deadly Mistakes People Make...2020/04/07  · 7 Deadly Mistakes People Make When Taking There Business Online And what to do about it INTRODUCTION Most people who start an online
Page 2: 7 Deadly Mistakes People Make...2020/04/07  · 7 Deadly Mistakes People Make When Taking There Business Online And what to do about it INTRODUCTION Most people who start an online

7 Deadly Mistakes People Make When Taking There Business

Online And what to do about it

INTRODUCTION

Most people who start an online venture fail.

This is true whether they are starting a new online business or taking an existing business online.

In this guide, you are going to learn seven deadly mistakes that people make when taking their business online.

You will also learn what to do to combat those mistakes.

You can use this as a checklist to ensure that you don’t make the same mistakes when you start your online business, or when taking your existing business online.

The principle behind these seven points is that your online presence must support the business process of getting leads and clients, as most businesses fail because they don’t make enough sales.

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MISTAKE 1: THEY DON’T HAVE A SYSTEM

All a business really is, is a system that gets leads and turns them into clients or customers.

In order for a person to become a client or a customer, you need to have something they are willing to pay for.Most people starting businesses focus just on the thing they are selling.

But, without having a system to turn leads into customers, you won’t make any money, no matter how good your product or service is.

The first mistake when going online is that people do not set up a system that repeatedly, consistently and affordably turns leads into clients.

The result is they don’t make enough sales and eventually have to close.

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MISTAKE 2: THEY SET UP A WEBSITE

Yes! That’s right!

Setting up a website is mistake number two.

A website is the wrong place to start, yet that is the first thing people do when they are starting an online business, or they are taking their offline business online.

A website does not by default support the business process of turning leads into clients or customers.

A traditional website is like a brochure, giving the potential clients lots of options and links to click on.

They may be ready to become a client, but you give them so many options that they get tired of browsing and clicking that they leave.

You need to implement a system that gets leads and turns those leads into clients. 

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MISTAKE 3: THEY PUT EVERYTHING ONLINE

Whenever I speak to offline business owners, i.e. those with a shop, office, or workshop, they use e-commerce and online synonymously.

But going online with your business does not mean setting up an e-commerce store.

Starting an e-commerce store as the first step when taking your business online is the wrong thing to do.

If you have an offline store, rather think about how you will get more people into your store, and what you can do online to get more people into your store.

If you want to start selling online, you could take your best selling product and try to get people to buy that first.

Once they’ve purchased from you and you have their contact details, you can then sell them other things.

Then when your e-commerce website is set up, you already have a list of existing customers to promote to.

If you are selling services, you could still deliver your services in person and just get leads and clients online.

Or you could deliver your service via video calls, if you work one-on-one with clients. e.g. If you are a coach, consultant, psychologist, etc.

So before you think of putting everything online, put in your client acquisition system online first.

Once you are getting more leads and clients and earning more money, you can then move more things online, when you are ready.

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MISTAKE 4: THEY DON’T MAKE THE RIGHT INFRASTRUCTURE CHOICES UPFRONT

Both over-investment and under-investment in infrastructure upfront are problems.

Over Investment

It’s so easy to be lured by all the online technology available today.

You could easily over-invest in your website.

There is design, premium hosting, SEO and lots of other Website costs that set you back thousands of dollars without any return on investment.

Then there are fancy CRM tools, Software, Automation Services and other tools, where you can easily blow all your money.

These are major mistakes that a rookie online business owner can easily make because of all the slick salespeople out there seducing you with the next best thing.

Remember rule Number One?

Everything must improve your ability to get leads and clients.

Under-Investment

Then there is the opposite, under-investment.

By not ensuring that you invest in systems that can scale, you end up setting up something that limits your ability to get more leads and clients, instead of helping you.

This is very common when there is too much ‘DIY’, which is covered in the next point.

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Constantly thinking about your infrastructure and getting help with what you should invest in, and when, is important when going online, just as it is in the physical world. 

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MISTAKE 5: DOING IT YOURSELF (DIY)

Doing everything yourself is great, as it saves you money.

But, if the result is an amateurish setup that looks like it was put together by a ‘man and his dog’, then your online venture is sure to fail.

Closely coupled to this is the desire to want everything for free.Thinking that you can build a scalable and automated business for free is one of the biggest lies online.

You will have to make some investment at some time.

But, doing it at the right time is important.

Start small, make some money, and put some money back into your infrastructure.

In that way, your infrastructure grows as your business grows.

In the beginning, you can set up your lead and client acquisition system for free with an Email Autoresponder Landing Page service.

I recommend starting with MailChimp, as it’s free for an audience of up to 2,000.

And once you’ve got some clients, you can move towards a full online infrastructure that is flexible and scalable.

You can read my free book, 90 Minute Business, on what you need to do, and what you could do if you needed some help to set up your online business properly at the lowest possible price.

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MISTAKE 6: SCALING TOO EARLY

When people go online, the dream is often to have thousands, if not millions, of people visiting their website.

Online visitors are called traffic in ‘Internet Marketing’ speak.

You could buy traffic, or earn traffic, but you could also get the wrong traffic.

Getting thousands of people to you when you are selling thermal underwear in the desert, may not be a good strategy. Even if you get lots of traffic.

A more important thing to measure is conversion.

How many visitors are converting into leads and customers is a far better metric than just traffic.

The mistake is thinking that you need more than you really need.

Most businesses can only service a relatively few customers.

If you are in a service business, a handful a day may be enough.

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MISTAKE 7: LACK OF ONGOING INVESTMENT

The biggest advantage, in my opinion, of the online world, is that you only invest when you need to.

You can start with free, and then move to paid services as an when you need them.

As your business grows, you add a bigger and faster infrastructure.

Or you can add better tools.

Or more automation.

It’s unlike the physical world, where you have to invest in tangible assets to start a business.

Your fixed costs can be low, even zero.

Costs vary as you grow, which is perfect when starting out and don’t have a lot of money.

The mistake here is to not invest when the comes time to scale.

This happens when you are not consistently putting money back into systems, or not spending on growing your infrastructure, as your business grows.

Also, not investing in automation is also a big mistake.

Online tools and services make it easier than ever to implement automation so that you can focus on delivering good products and services to your client.

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CONCLUSION

These 7 Deadly mistakes that people make when taking their business online can kill any business.

Write down each of these mistakes and make a list under each one documenting how you will mitigate each one before you take your business online.

It will save you lots of heartache and money.

And it can bring you lots of joy and lots of money if you don’t make these mistakes.

The solution to these mistakes is to set up a lead funnel.

A lead funnel is a set of landing pages and automation that gets leads and converts them to clients.

The details of lead and sales funnels are beyond the scope of this guide.

But, here are the basic components of a Lead Funnel designed to turn leads into clients:

• A Lead Magnet to attract your ideal customers

• A Landing Page to sign up for the Lead Magnet

• A Delivery Page to deliver the Lead Magnet

• Follow up Emails

• Sales Pages to make sales

This is exactly what you went through when signing up for this book.

You can copy the process I used and implement it for your own online venture.

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Copy the process, not every word and image I used. That’s plagiarism!

If you want to set up lead and sales funnels quickly, to combat the seven deadly mistakes, here are two ways I can help you:

1. A 2-Hour Online Business MasterClass.

You can get it by clicking on the link below:

Online Business MasterClass

2. 90 Minute Business

Or, if you want to set up a more scalable infrastructure, my book, 90 Minute Businesses, will help you get your online business set up properly with just 90 minutes of your time.

You can get the book by clicking on the link below:

90 Minute Businesses

If you have any questions about taking your business online, please email me.

Don’t sit with the questions in your head and let them loop. You will never go forward like that.

Email me:

[email protected]

Avoid these 7 Deadly Mistakes to increase your chances of success.

Best wishes for your online ventures!

Faizel Mohidin