5 Mistakes that are crushing your online business

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The 5 most common errors I see business owners make

Only a very small percentage of people who create online businesses hack it. Most of the people you see online today won’t be there 12 months from now.

Many hustle their asses off doing the wrong things (I blame awful advice spewed by inexperienced “success coaches” who have never built anything outside of their coaching business and digital marketers whose job it is to sell a dream – not a reality).

Every day I come across people who pour 12 or more hours in a day trying to make it work.

Isn’t the formula “Get the mindset straight and then hustle your butt off?” <— Simple, right? 🙈

If it were that simple everyone would hire a mindset coach and become a millionaire. Because everyone I see is working hard.

But it’s not.

Here are some very common mistakes that I see people making all the time:

Common Mistake 1:  Giving up too early

I have conversations every single day with people who say “I had 25 people sign up for my optin but not a single sale!” or “My ad ran to $20 and I didn’t sell anything so I shut it off”. They have no clue how many leads they need in order to convert a sale. Zero. They know they need an optin and ads but really aren’t that clear on WHY or how many leads need to filter through those to make things work.

 

Heather Prestanski

Heather Prestanski

Limitless Life & Business Coach

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Common Mistake 2:  Not creating feedback loops

Most people look to their bank account alone to measure the success of a project. Problem is, money in the bank is a lagging indicator of success – it happens AFTER the success is had, not before. You can’t measure how effective a strategy is by money alone! You need to create feedback loops and set concrete targets around leading success indicators like visits and leads to really know if you’re on the right track.

 

Common Mistake 3:  You don’t know your financials

Do you have any clue what conversion rate and CPC you need to hit in order to breakeven or make profit? Do you know how many people need to see your stuff in order to push enough people through your funnel to churn out a single sale? Do you understand how to properly price a product and how your pricing relates to your target market?

Common Mistake 4:  Your idea of testing is throwing it out there and seeing what sticks

No idea how to split test. I once changed the colour of a SIGNUP button and raised conversions by 25%… How would I have known that it was as simple as the colour of a button had I just thrown the whole page out and started from scratch?

Common Mistake 5:  You don’t know how to identify what’s broken

In the last example most people blame the ad, not the landing page when they aren’t collecting leads. Do you understand how to properly break down and understand your analytics in order to find the source of your woes? It sounds scary but you don’t have to look at every number. Just know which ones you are looking for and what they mean.

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