Some people will set up a work from home online business foolishly thinking that they will make millions in a matter of weeks. Most of us know that is not a reality. But even those who do understand that it takes time to build an online business still struggle when they try to make money online. Here are the 5 most common mistakes everyone makes when they first start a work from home online business.
1. Not Having A Solid Business Model.
A clear and solid business model will have an identified target audience who are looking to buy the products or services that you are selling. You are not going to be very successful if you start a work from home online business without any idea of what you are going to sell, who you are going to sell it to and how you will sell it to them.
2. No List Building Strategy.
If you have been looking at how to make money online for any length of time you will have heard the saying “the money is in the list”. To earn money from the people on your list it’s important that over time you engage with your list and get them to know, like and trust you. Give the people on your list solutions to their problems, answer their questions and aim to improve an aspect of their lives. They’ll soon start to look forward to your emails and to trust your opinions and recommendations.
3. Having A Poor Marketing Funnel.
A marketing funnel is the process that starts from the time when a prospective customer clicks on your link to them becoming a customer who regularly buys from you. The traditional marketing funnel starts where you offer your prospects something of value to them for free (like a free report or ebook) in exchange for their email address. If they like the free report and as you guide them through your marketing funnel, they may consider purchasing a low, medium or high priced products from you.
4. Not Generating Any Traffic.
The biggest problem that most people have when they try to make money online is generating traffic. There are two main routes to take when it comes to website traffic. There’s free traffic or paid traffic. The best traffic strategy for your work form home online business is to use a mixture of both free and paid strategies.
5. Not Prepared To Learn From Others.
It is surprising how many people try to start a work from home online business believing that they know everything there is to know. They dive in head first, get overwhelmed, waste time and money and then throw in the towel, thinking that the whole idea of making money online is not possible. Think of it this way. If you started a new job working for someone else, you would assume that somebody would show you how the business runs and how to do your job properly. Why should it be any different when you want to make money online from home?