MISTAKES TO AVOID WHEN STARTING AN ONLINE BUSINESS.


Lately, every conventional business now has an online side to them. This is because the ‘e’ side of almost every sector is now important if the sector is not moving towards extinction. Starting an online business is not as much as a challenge as maintaining it and doing the right things to get the right paying audience. Here are few avoidable mistakes people make when starting an online business and how you can avoid them.
IMPROPER PLANNING: so many people start an online business without having the proper plans to carry out the business efficiently. There is need for feasibility study. Know who your target audience are and have a laid down plan on how to capture the right audience for your online business.

CAPITAL SHORTAGE: always know at the back of your mind that budgeted fund is hardly ever enough. You will always need a little extra fund outside your budget. Plan ahead so that capital will not hold you back from reaching your target.
UNDERVALUING YOUR PRODUCTS: this is challenge that every newbie is bound to encounter. Set your price at what needs to make it a profitable business for you and don’t undersell or undervalue yourself.  Either new or not, underselling in a business killer.

IGNORING CUSTOMER SERVICE: just because your market is not the conventional method of marketing, does not mean your customers are less valuable. Find a way to keep a record of your contacts and have a good customer relation. Bear in mind that they are likely to come back if they had a good experience.
DONT OVER ADVERTISE: as a starter, it’s important not to invest the higher percentage of your revenue on advertising. Find the right audience and target them by creating the right awareness. You don’t have to be everywhere at everytime as a starter to prove you are doing it right.

Be certain that every business has its risk and mistakes are inevitable for a starter but knowing about these few avoidable ones can help you scale through the toughest part of your business experience.