Business Mistakes: You Want a Successful Business – So Don’t Do This!

All entrepreneurs have to learn from their own mistakes as they build their business, but wouldn’t it be great to have some one tell you what the common mistakes are and how to avoid them? Well here are the common business mistakes – don’t do them!

1. Believing that you will start earning straight away. All businesses take time to establish themselves – even internet based ones. People need to know where you are, what you sell and most importantly, that they can trust your company to deliver what it promises. Expect to spend at least 6 months working away at your business before you break even – sometimes longer.

2. Believing that you can set up a business and it continually earns for you. Even a very profitable business needs continual management to ensure that your profit does not erode. Your products and marketing need to continually change to meet the changing circumstances in the real world.

3. Believing that you can earn whilst you are aware from the office. Even if you fully automate your business and hire really good staff, there is always an element of “while the cat is away”. That is why there are so many “absent owner” sales.

4. Being a single product company. As good as your product may be, markets and tastes will change and so must you. If your product is very good – other companies will quickly take action to seize your market share by bringing in similar products at cheaper prices.

5. Not offering upgrades and enhancements. It is far easier and cheaper to sell to existing customers. You do this by offering upgrades and enhancements to their existing products. You should have a group of products at several increasing price points.

6. Relaxing after your first success. Businesses need continual effort, management and improvements. Although a product launch is hard work, you should start on your next product shortly afterwards. This will give you sustainable success and several income streams.

7. Believing that a business can be established with little capital. Marketing, infrastructure purchases, stock, advertising and staff all cost money and must be purchased in order to make a profit. Cash flow kills more business than anything else.

8. Believing that you know all you have to. Your competitors may have been in the business longer than you have, your customers may be very knowledgeable. Meeting customer needs is a constantly changing landscape and you need to keep up to date on the latest trends and technology. You need to be able to project yourself as an expert in the field you work in. If you do not have this knowledge then learn it or buy it in!

9. Not investing in your staff. Your staff are the public face of your business. They should be well trained, knowledgeable and well dressed as well as fully motivated to sell on your behalf.

Learn these lessons well, avoid the mistakes at all costs you should save valuable time and resources by doing things right the first time. Good luck.

Learn the Way to Avoid Key Online Business Mistakes

Is your online business not doing as great as you would like it to be? There could be several different online business mistakes that you might be making. By looking at the various ways, you can attempt to rectify or avoid them.

Reason 1- You are too immersed in the hype, as well as the excitement that comes from trying to get rich fast.

This mistake can really bum you out. It is easy to leap before you look, and use strategies that haven’t been properly thought over, when you have been blinded by the thought of getting money easily. People get frustrated many times, when their success isn’t instantaneous, so the business person usually quits, or attempts to try something else, when they haven’t even learned from their mistakes at all.

To make a successful business on the Internet, this can only be accomplished by working as hard as you can, and staying away from the lies and excitement. You must learn from websites and Internet business models that have been successful, and do what they are doing. Your own business can incorporate this into it.

Number 2- Not being aware, or too impatient to succeed.

One of the main reasons that online businesses fail, is because people don’t have the patience it takes to wait for success. Most of the time,this is caused because the person running the business doesn’t know how to get success from the business that they are doing. Because of this, no research is done, and much money is wasted on activities that yield nothing.

There is always a certain process that is involved in making money. A constant supply of prospects are needed, and also a service or product that they will purchase for a good price, and a way has to be made that will allow the product or service to be gotten to the client in the right amount of time, as well as in a manner that is good for the client, and lastly, your business has to be able to make money at the same.

You must know how money is made, as well as everything that you can know about your business. After this, use the actions that allow you the best success.

Number 3- Not knowing who your market is

This is usually done in one of two ways- “I know that people are there, I just hope they are able to find me”, or “I am sure that everyone will love to buy what I am selling.” What happens in each example, is that you have a promotion that is not effective, as well, your business will not be advertise the right way. Tons of money and time is used to promote your business that doesn’t ever get to the customers.

For every business that is out there, when a profile is made, then it is more likely that your product will be bought. By knowing who the best people to buy your products are, you are in a better place to get your marketing to reach them. This is much better and more profitable than attempting to sell to the entire world.

Number 4- Instead of testing- going for the big bang.

This is akin to starting and going through with an entire advertising campaign that has never been tested, in hopes that the ad will work. None of the variables of the ad are known or tested. Much time and money is wasted, as well as the frustration and disappointment that you are sure to experience, is the most likely result of this.

Everything you try has to be made the best it can be, and tested thoroughly. To insure financial catastrophe, go into an expensive marketing campaign with a huge budget, and fail to test it first. To be positive, test it. Switch things around, like wordings, offers, headlines, and many other things. Everything needs to be tested, like any ad campaign, as well as your target market.

Number 5- Spam

The lure of quick and easy money, by sending millions of emails to people who don’t want them, is something that should be avoided. People think that if only 1% of the people reply to the offer they are sending, they will be rich. But you will closed down by your ISP, which means that you will have no access to the Internet, everyone in the world will know you are a spammer, and people won’t want to have anything to do with you.

Professionals don’t choose to do business this way. When you are a professional, you have to think of the long run, and make many good relationships with prospects, as well as clients along the way. You will not be able to get long term business success by spamming.

Ending

Long term business success has to have hard work, a very professional and ethical approach to business, knowing your market well, a system of success that works, as well as making certain that your business is always tested, so that it can adapt and get larger. Online success is the same thing. Your business will achieve long term success, when all of the basics of online marketing are know as well as they can be.

How to Kick-Start Your B2B Content Marketing Strategy

Developing a B2B content marketing strategy that aligns content messaging with your target audience is no small task. In fact, 88% of B2B marketers currently use content marketing as part of their overall marketing strategy, yet only 32% have a content marketing strategy.

The development of a fundamentally customer-focused marketing strategy will blaze a trail for a B2B content marketing strategy to reach new customer engagement and acquisition goals. By ensuring value is delivered to your customers, the B2B content marketing strategy will fall into place.

Here are a few key tenets of B2B content marketing strategy to kick start the process for you and your team:

1. Determining your content point of view. Here’s a hint: Make it customer-focused.

2. Ensure once you start executing on content creation, you can measure your efforts. Another hint: Make sure it’s driving a tangible business outcome as well.

3. Align your team’s talents with the type of content being created. Last hint: Not all marketers think the same way.

Customer-Focused Point of View for Content Pays Off

Content marketing strategies developed to engage customers with your brand start by aligning content with the point of view of your reader. Delivering information both that the customer sees as valuable and that aligns with your brand should be the underpinnings of every B2B content marketing strategy.

In a recent study from Forrester Research, they provided the example of Kraft Foods launching a site (kraftrecipes.com) to share recipes and food ideas using their products. By shaping purchase decisions, encouraging buyers through the journey through value-driven content, Kraft Foods had buyers that were all-the-more inclined to purchase cream cheese for “that casserole recipe I saw online”. They delivered value to customers by encouraging a purchase decision as opposed to pushing a coupon.

With a customer-focused point of view regardless of the buyer type (B2C and B2B buyers), position your content to deliver value to your customers. Similarly, through customer-centered content, you can actively shape purchase decisions through a B2B content marketing strategy that drives leads which, in turn, fuels revenue.

Prioritize and Set Content Goals

In a recent survey of content marketing maturity, Forrester found that 52% of B2B marketers were in the early stages of assembling a content strategy and executing it. While B2B marketers seem to be embarking on a more customer-focused approach to content development, a key tenet to a closed loop model for your B2B content marketing strategy is tracking buyer interactions with content at each stage in the purchase life cycle.

Providing buyers with content that is useful and valuable to read, watch, or interact that encourages forward movement in the buying cycle is a B2B marketer’s dream. And yet if those interactions are not measurable, how do you know your content strategy and supporting tactics are effective?

To kick start your B2B content marketing strategy that produces customer-focused content, ensure your team is taking a practical approach to content creation aligned with short-term goals. Meeting and rewarding these short term goals will push your team to drive increasingly buyer-aligned content. This will inevitably result in customer interactions that contribute to increased revenue. These longer-term objectives ensure content drives tangible business outcomes.

Align Talent with Content Creation

Balance your team to align strengths with content creation requirements. Buyer-aligned content that captivates, inspires and challenges is a different focus for most B2B marketers. Marketers whose background include a mix of product marketing, sales positions and even direct marketing may be challenged to make this shift.

Climbing to new heights requires planning and preparation but it also mandates physical and mental stamina. Applying that principle to strategy development versus plan rollout and execution, B2B marketers need to consider skill assessment and training as a critical tenet of B2B content marketing strategy. When the team is ready to hit the trail, talent needs to be aligned with a type of content creation that sees through the buyer’s point of view, interweaves a compelling story and is appropriate to the content application.

So, begin with your team to consider what content will deliver value to your customers. With this customer-focused lens, a B2B content marketing strategy will achieve the following:

  • Address buyer concerns to engage
  • Motivate them through the buyer journey
  • Build support from bottom-line-thinking executives.