Top 10 mistakes I have made building my Internet business
Since the basis of this blog is about mistakes and how we can learn from them to become more successful, I am going to share with you some of the biggest mistakes I have made developing my Internet business.
I started building my own internet income just over 4 years ago when I began the transition from Web designer and developer to online entrepreneur.
I was getting fed up working for clients just to pay the bills. If I didn’t work, I didn’t make any money. Ironically it was just at that time when I came across the book, “Rich Dad, Poor Dad”.
After a big dose of inspiration from that book and a better understanding of what I had to do, I got to work on building my online ‘passive’ income stream.
Here are the 10 biggest mistakes I made starting my business:
- Trying to make money anyway possible instead of trying to offer a valuable service in exchange for money.
- Trying to run 5 different websites at once while still doing freelance work (5 different businesses!) instead of focusing all energy, though and financial resources on just 1 Website.
- Keeping profits from my Websites instead of reinvesting them in labor to grow the business faster.
- Not measuring and testing the results of my work and projects developed.
- Starting projects with no clear viable and realistic plan to monetize and generate revenue from them.
- Doing very little significant market research on competitors and related services before launching ideas.
- Getting involved on some projects where I am not passionate about the service being offered or niche.
- Not planning and projecting clear intermediate timely goals to work towards.
- Holding the belief for too long that I could create a high income lifestyle business in a short period of time without significant work and dedication and a commitment to be the best at what I do.
- Hiring virtual workers before testing them with small projects first.
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