There have been plenty of Internet business success stories. But there have been even more “failure stories”. (Which isn’t a term I hear often, but it’s definitely fitting.) It’s time to take a serious look at the misconceptions that lead budding Internet entrepreneurs to fail.
Internet success doesn’t require a lot of time and effort
Every time I see someone reading a book with “FOUR HOUR WORK WEEK” on the cover, or something to that effect… I cringe. Publications like this have always been hot sellers. They convince people that with little time and effort, you can have a successful Internet business.
Wrong, wrong, wrong. You can’t just set up a .com and let the whole thing run on autopilot. You’re going to have to put in a lot of time and effort. It’s going to involve a lot of long, arduous, even boring hours. Hopefully, it will all be worth it in the end.
“Business” is just a buzzword
A lot of people who start setting up an Internet business completely forget about the “business” part of that term. They seem to think that it’s going to be fun and games, or at least not much more than a bunch of typing. This is a common and dangerous misconception. An Internet business has to function like any other business.
You need a business plan before you even begin your online venture. It’s not a case of “you don’t have a boss” – you are the boss. That means you need to discipline yourself. If you don’t have a deep understanding of some business basics, you could be setting yourself up for a colossal failure.
A lot of focus on one platform is enough
(see also: minimal focus on several platforms is enough)
This is a double-barrelled section. You may think, as many do, that simply having a lot of Facebook or Twitter followers is enough to have an effective marketing campaign. But not only should you be focussing on both Facebook and Twitter. You should also be putting focus on a lot more platforms.
Of course, the other extreme is that you spread your focus too thin, and you end up not paying enough attention to all your platforms. You start putting in minimal effort for each one instead of getting innovative with all of them. Take YouTube, for example. It may be a good idea to buy fast YouTube views. But you shouldn’t just do that then move onto the next social media platform. Make sure you’re also thinking up new content and interacting with video subscribers!
You can do it all by yourself
Businesses usually involve more than one person. But a lot of people believe that Internet businesses are exempt from that sort of thing. They see an Internet business as something so free, simple, and independent that someone could do it single-handed. Even those who know it will be long, hard work still fall for this misconception.
It’s certainly possible for you to run a small-scale Internet business by yourself. But if you’re looking to enter bigger leagues, you’ll probably want some help. Don’t be scared off of hiring some employees, even at the startup stages. Otherwise, you end up spreading your entrepreneurial skills and focus too thin. And I’ve already written a section about why spreading things too thin isn’t a good idea!