How NOT to Earn Money Online!

Here is the third of four parts to 17 mistakes to avoid business failure. These are tips for all businesses large and small. Here is part three on how NOT to earn money online!

I know that is strange, but there are so much "information" on how to make money online, that sometimes it’s much better learning to know what NOT to do!

Read part 1: Successful Home Business
Read part 2: Money Making Business

Here are four more critical errors to avoid if you want to increase your chances to making money on the internet. BUT, before you learn what they are…

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Now, here’s four crtitical mistakes to avoid…

It’s the old 80 / 20 rule. 80% of success or failure in business relies on the research and analysis phase. If you fail to plan, you plan to fail. Before the first efforts are made to do anything with a new product or service, you need to make sure you do your homework. So often, I have watched businesses venture off into new markets and verticals without having a clue as to a clear direction and a plan to accomplish what they are trying to do.

In almost every instance, I have watched these businesses fail in that market. It is so important to do your homework to help you to know who your competitors are, how you will enter and capture the market and what your efforts will be to make money in that market.

Make sure you do your homework and research and don’t become another statistic in business failure and do your research.

If you need assistance in market research, keyword research and vertical market analysis for your business, my firm offers business solutions, SEO, SEM, and SMO consulting, services and solutions. Contact me through my site at: Chad Maslak.

So often I have found it amazing that decisions for a website, product, or idea is based upon a "gut feeling" just because someone knows how people are, or knows how a certain group of people think just because they have been associated in that profession. (Or know "two" people in that profession!)

I say this is absolutely ludicrous. The best thing to do is to survey the market and find out what the market is saying in regards to their needs, desires or thoughts in your market. How can you present to your target audience a solution when you are not listening to the problems or issues of the market as a whole?

Go into your target market and find out what the issues are and then determine how you can place your product or service in front of them as a solution to their needs.

If something doesn’t work. Don’t do it! All too often, business owners or project managers hold onto products, projects or ideas for far too long and it ends up costing them in the long run. The reason they do this is because of the emotional attachment to their products or ideas. They don’t know when to cut loose of a losing proposition. Not everything in life is worth holding onto. That’s why we all have boxes full of junk that we have compiled through the years and it usually ends up in the trash.

The same is true in business. Not every idea or product is going to be a hit, is going to last or even be worth holding onto because there is just no way it’s going to succeed. You need to be wise and make sure you can spot the things you need to hold onto and work with those things that have potential and discard the ones that do not. Know where you need to invest and invest in the things that will work and the things that do not.

Even if there is a product or idea that is working but needs change, don’t let your ego or pride get in the way of making that change. This simple de-egoing, (if that is even a word), will go a long to helping you earn money online and even earn money from home.

This simply means to overvalue or undervalue people, ideas and products.

Have you ever heard someone talk highly of someone that you just couldn’t stand? Have you ever thought someone may have been a thief and a crook, yet others thought the person was the greatest thing since sliced bread? Perhaps you thought a product was complete junk, only to hear the boss say, surely this is going to make us millions!

These are all things that most of us have come across in our life. The problem in business is you have to make sound business decisions based on sound business logic, facts, figures, careful analysis and not merely from a feel good emotion or from a positive way of thinking about things. I know there’s always the element of having the "gut feeling" call, but the point I’m making is don’t base things based on a "feel good" experience.

Be careful of judging things such as people, ideas or products on a whim or because you may feel good about it. Remember, bad mistakes in business can kill a business. Don’t make the mistake of placing to much value on people, products or ideas. However, on the flip side, be very careful that you don’t undervalue people, products or ideas. Don’t treat people as a number and in a way that makes them feel they are expendable.

This will kill their morale. Make sure that you do not mis-analyze or over analyze situations with your employees, and certainly do not make the mistake of placing too much value or to little value on these issues. Keep a balance.

In attempt to make cash online or to get cash online fast makes this to be a very common mistake made by small and large sized business owners and executives. 

So avoid these four critical mistakes and learn to earn money online!

Now learn what to do with step-by-step Internet marketing strategies THOUSANDS of regular people are already using to start and grow profitable Internet businesses, click here now!

Here’s to your success!

Chad Maslak
Author: “THE “ULTIMATE” INSIDERS SURPLUS, LIQUIDATION & WHOLESALE BUYING TO RESELL FOR MEGA PROFITS GUIDE”

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