If you have been online for some time now you definitely have come across a whole lot of #business tips and advice.
The unfortunate thing is that many of these are actually killing many online businesses even before they get the chance of getting off the ground!
With well over 7 years of trying different things online and having subscribed to hundreds of IM newsletters, I can say with confidence that I’ve not only heard these things a number of times but that I’ve also seen and experienced the devastating effects of such “bad” #business advice given with the intention of helping newbie online entrepreneurs.
And so, if you’ve been struggling with your online business my advice is this: take a look again at the type of advice you “swallowed” line, hook and sinker. Chances are you may have fallen a victim of one of these spooky business advice.
3 Business Startup Advice You Must Ignore Right Now!
So, let’s take some careful look at the top 3 of these pieces of advice:
1. Do What You Love And The Money Will Follow
You have heard this a thousand times, right?
Indeed, this one top the list of business startup advise that you hear every day on the net. Read any blog post on how to #start a business online or simply do a search on Google and you will see this being flung left right and center!
Unfortunately, because this is parroted all over the place many think it is the one truth to making money online. But as much as it sounds reasonable, you must understand that following your passion or doing what you love is not the key to succeeding in any business.
The fact is your business or your product is not about you but about your prospects. It is about what pains they have and how you can heal those pains.
Starting a business based SOLELY on what you love is simply laying a shaky foundation for that business because the success of any business is determined by what sells and how well it sells.
So, instead of spending time and resources trying to figure out what you love and building your business around that, spend time rather in figuring out the pains people are looking to heal online and then find a way of providing a solution for those pains using your skills and knowledge while being passionate about it.
This is worth remembering:
There are millions of starving artists, writers, actors, etc in the world who spend their entire lives doing what they love for a pittance. The better thing to do therefore is to choose a business that has good potential for profitability and then position yourself as a loving solution provider. “
In order words, LOVE providing solutions instead of trying to provide solutions that you love!
If you’re still not satisfied with those but you TRULY want to do what you love for the money to follow, then I advice that you get this Kindle ebook:
But then, here’s a review by someone who took that route:
Alright, nuff said…got to move on!
2. Look For An Untapped Niche If You Want A Successful Business!
This is another big one!
Are you not surprised that every blog post you’ve read on starting an online business simply re-echo this same advice over and over again? But have you really stopped to think about this?
Now, here is the simple truth…
Starting a business in an untapped niche is simply a business startup advice from the formative ages of the internet. It is only being re-echoed and circulated by those who really do not know where the internet is right now.
Some 10 or 12years ago that advice may be feasible but today it is simply obsolete!
Truth be told, there is no profitable niche today that is “untapped”. For every niche that is worth starting a business in, there are a million webpages already targeting that niche!
Go and check on Google.com today to confirm this!
I have done extensive product and market research in the past 5 years or so, and I have come to realize that any niche out there with high search volume but with very low competition most times indicate you are looking at a market with no potential for profitability!
And so, if you are looking to start a business in an “untapped niche” you will never start or if you do find one, you may never really make any money from that niche!
Competition is actually a sign that a market is profitable. So, let the competition point you in the direction where others are already making it.
Your assignment is to find a way of breaking into this “competitive” market and getting your own share of the cake. A little twist here and there can do this for you.
3. You Don’t Need Money To #Make Money Online!
Ok, I admit it.
I fell for this one big time when I started!
In fact, my first website was dedicated to teaching newbie internet marketers how to make money online without spending a dime!
Yes, make money without any form of investment. But the irony of it all was the fact that on that same site I was promoting affiliate products which I expected the site visitors to purchase!
Foolish approach to running a business you would say.
But the fact is, back then you could really make money without spending a dime! I actually started that way. I had no website when I started. All I had were:
(a) a free account with Ezinearticles.com; and
(b) a couple of accounts with some affiliate programs
The strategy I was using then was that I wrote informative articles, submitted them to ezinearticles.com and then link from the resource box to the affiliate products I was promoting. Of course, those were the days when ezinearticles.com allowed affiliate links in the articles published on their directory.
We used to call this Bum #Marketing in those days!
But truth be told, those days are gone and gone for good.
If you want to build a business online today you definitely need a website or blog of your own. And for these, you need a domain name, a webhost and some other things like an autoresponder to build a list.
All of these require some investment of money.
And so, if you are still listening to such business advice that you don’t need to invest a cent to make money online you are actually setting yourself up for failure. I’ve come across many who offer such advice but today they have become some statistics in the DotCom waste bin!
Yes, you can start on a shoestring budget but if you truly desire a business that is worthwhile, you need an investment of money.
Besides, remember time is money. Give or take, you’re investing money whether you know it or not!
It is true that how much success you are able to achieve online depends on your mindset most of the time. Also, since what you hear and read online determine to a great extent your beliefs and expectations, it is important that you guard jealously what hear and read.
There are of course other spooky business advice out there but learning to avoid these ones will see you quickly breaking through the barriers to your online success.
Your turn: Is there any business advice you’ve heard that has negatively affected your business progress thus far? If there is why not share with us in your comments below?