Business Mistakes to Avoid

Hey There

Small businesses and entrepreneurs often repeat the same mistakes. If you are an entrepreneur, the following is a list of critical mistakes to avoid in your new venture:

1. Promising The World

Entrepreneurs will commonly make bold promises that are often impossible to actually deliver. It is important that you stay grounded in reality, and only agree to things that you know you can actually deliver.

2. Lack Of Discipline

Owning a business takes commitment and self-discipline. Since you are "the boss" you probably won't be disciplined for things like not showing up for work on time... but such things will have a negative impact on your business. It is important that entrepreneurs treat their business just like a real business, and not like a personal hobby. Act professional, charge for your services, and be accountable for the product or service provided. Self-discipline is critical to being self-employed.

3. Lack Of Focus

Remain focused on your core business philosophy, and don't attempt to be everything to everyone. Decide what your strengths and business focus are, and use that strength and focus to build the foundation for your core business.

4. Doing It All

While most small business owners are jacks-of-all-trades, it is important to know your limits. Do not try to do it all. In many situations, it is much better to hire someone or outsource a project than attempt to reinvent the wheel or do something yourself that you are simply not qualified to do.

5. Undervaluing Product Or Service

Small businesses often make the mistake of undervaluing their product or service. If an item or service is priced too inexpensively, it may be viewed to be of inferior quality. Conduct a cost analysis, and consider split-testing to find the appropriate price point for your product or service.

6. Hiring Family

It is natural for a small business owner to want to hire family members, but this is often a very costly mistake. If you do hire family members, be sure to make it clear from the beginning that business is business. Employment should not effect your personal relationships -- that is very easy to say, but unfortunately it often does effect your personal and family relationships. Additionally, other employees may resent favoritism paid to a family member who is given priority. And sadly, favoritism of a family member can often be perceived by other employees, even when it doesn't actually exist. Think long and hard before venturing down this path.

7. Copying The Competition

Copying the competition is certainly far easier to do than creating something new. However, that does not mean that it is a good thing to do.

8. Tracking Advertising

It is important to track and measure the success or failure of any advertising campaigns. If you do not track your advertising, you will not really know what works and what does not, and you could be throwing good money after bad.

9. Not Having A Plan

It is important that you have goals, and a plan for your business. Use the plan to guide the direction of your business.

10. Failure To Invest

You have to spend money in order to make money. Many entrepreneurs fail to invest in their business, yet expect instant success. Building a business takes time, effort, and both a personal and a financial investment.

11. Inability To Adapt

Many small businesses change over the years. You must be willing to adapt to the changing needs of a business, and to the changing needs of your customers, in order to survive in the the business world.

Launching a business is an exciting and rewarding experience. Just be careful to avoid the above pitfalls on your way to success.

Till Next Time

The Importance of SEO

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Hey There

Just wanted to share the importance of SEO with you guys.

Search Engine Optimization helps you broaden your market share. It results in huge savings on ad-spent using traditional channels of marketing.

SEO is a long term and a permanent answer to you traffic woes. Once a website has been optimized for search engines it can stay on the top for long periods of time. It helps you capture targeted traffic… people who are already looking for the product or service you offer.

Search engine Optimization offers a much better return on investment compared to banner campaigns or pay per click campaigns. It helps your get the share of your market, which you might be loosing otherwise to your competition. There are over 400 million searches done on major search engines everyday, day after day.

Till Next Time

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How to Get Traffic To My New Website or Blog

Hey There

Here are six ways that you might try and get traffic to your new website or blog

• Find keywords which have a high search rate but low competition, target them, and boom Obviously it's not just as easy as that, but it can be done if you do your research
  
  
• Make a page on your site dedicated to the above keyword, but make it quality. Let's call this page our 'high quality high search high profit' page... Promote this page more than anything else on your site for a while, so that you get ranked very high in google for the term you are targeting. Submit this page to as many social bookmarking sites as you can with the anchor text being the keyword you are targeting. Do the same for a few directories.
  
  
• Use free classified sites like Craigslist to your advantage, these kind of sites have hundreds of thousands of visitors per day and they can be highly targeted if you do this properly!
  
  
• Find a forum related to your niche and make quality posts there. After you have made 10-15 posts that actually contribute to the community, add a link to your site in your signature. Most forums will be more than happy for you to link back to your site in your signature if you are contributing. Link to quality content on your site when relevant (and ONLY then), too.
  
  
• Use sites like WetPaint Wiki, HubPages, Squidoo and other user-generated content sites to promote your site. Do this in a subtle way - make your pages on these sites have information that is useful to the reader, but link back to some of your own articles and posts a few times.
  
  
• Comment on other related blogs (if you're running a blog that is) - many believe this is pointless due to the NoFollow tag but it lets other readers and site owners aware of your website, and can bring small leaks of traffic every now and then.

Till Next Time

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