There are a number of fatal online business mistakes that a lot of people make, in particular online entrepreneurs and bloggers.
Internet is breaking out with a lot of opportunities, and in fact, all it takes is a great idea, and some passion to build a website around it and in a matter of months you could have a real business on your hands, if you’re doing it the right way.
Interestingly, the abundance of chances is also what leads many bloggers and entrepreneurs to fail. Why? Because they end up trying to pursue too many goals at the same time.
The most vivid example is: Someone creates a website or blog, and after a while the traffic and revenues become decent. This someone figures that the creation of 5 more similar websites will bring even more traffic and money revenues. That’s where it all goes wrong.
By creating 5 similar websites you will end up with 5 average sites, each earning some revenues, but with no potential to become a business. If you want to create a real business out of your blog or website you’ll need to focus all your energy and attention on it. Lack of focus is one of the deadliest mistakes that a blogger or entrepreneur can make.
On the other hand, you’re probably thinking: “But I have seen bloggers with several successful blogs, and entrepreneurs with several successful companies, how can that be explained?”
Simple. All of these people you’re thinking about, they all started with a single blog or company, and focused 100% of their energies on that, until it reached a point where it go on its own.
For a blog, this would be a point where you have a large and loyal audience, so that you can keep it going by writing content only (which shouldn’t take more than 2 hours per day, and could even be outsourced).
For a company, this would be a point where the owner can have managers or employees taking care of the operational work, while he steps back and only worries about key decisions of strategic nature.
Reaching that point will allow you to start a second project without the risk of losing your focus. The problem is that most people start second and third projects/websites way before their first one is even close to being completed.
If you are in this situation, do something to fix it. Analyze all your sites and find the one that has the highest potential of becoming a real business.
Then get rid of the others (either by selling them or by putting them on hold), and focus all your energies on the chosen website. It is a tough strategical decision, but in the long term it will pay off. Focus is vital, keep that in mind.