MOST COMMON MISTAKES OF NETPRENEURS AND HOW TO CORRECT THEM (Part IV)

Common Mistake #4: NOT Having An Articulated Business Plan Or Strategy For Their Online Business.
This mistake is probably the most common, and the #1 reason why many African internet marketers never make any serious money online. Most do not have a written business plan and simply chase after currently hot opportunities, and call themselves successful internet marketers simply because they made a little money on Fiverr; Odesk; or Hubspot. Yes, they may make the odd $50 here and there, or maybe even a $500 once in a while, but without an
articulated business strategy, most simply become slaves to their computers, without making any major money in
the long term Many people simply approach the internet as opportunity seekers and not as business strategists. In order words, they go into the business without having a clear overall business strategy driving their activities. Instead, they ebb and flow with whatever internet opportunity is hot for the day, week and month.

So, they promote a video product today on weight loss today, and tomorrow they are promoting article
marketing on how to make money online. This week they will join the crowd to promote the latest book on eBay from a guru, only to turn around tomorrow and start promoting a product on relationships or selfempowerment.
At the end of the day, because most do not have a business compass or strategic focus to direct all their activities, they become triers of everything and masters on none. Yet when you look at all successful internet marketers,
they don’t run helter-skelter. They do not market on emotion. They do not chase after the latest ‘hot’ idea making the rounds at online forums. They ALWAYS have a strategic direction that guides everything they do.

How To Correct This Mistake
You simply must develop a strategic business plan. This plan needs to be written and well thought out. Strategic
Entrepreneurs always have a clear vision of where they expect their business to be 3yrs; 5yrs and even 10yrs,
from now.

They then let that vision guide their daily and weekly activities on the internet. This involves doing a S.W.O.T. Analysis (i.e. analyzing your Strengths, Weaknesses, Opportunities and Threats) of yourself and your business and then choose a marketplace strategy that will help you maximize your strength, minimize weaknesses and take maximum advantage of opportunities on the internet; while mindful of any emerging the threats to your business survival.

I discussed this strategic business focus issues extensively in the chapter on Success Secrets Of The Internet Gurus Exposed below. Please make sure you read and analyze that chapter extensively. Your long term future business success depends on it.

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