5 Mistakes To Avoid When Starting An Online Business At A Young Age
When I was a teenager, I started an online business. At the time, it seemed like a great idea—I could take my love of video games, movies, and comics and turn them into something profitable. But now that my company has grown (and evolved) into an empire with a multimillion dollar annual revenue stream, I look back on those early days with some regret. Here are five mistakes I made when starting out:
Not doing your research
When you’re starting a business, it’s important to do your research. You need to know who your target market is, what they want and how much they’re willing to pay for it. If you don’t know this information, then how will you be able to sell anything?
You can learn from other people’s mistakes by checking out books or reading blog posts on the subject of what not to do when starting an online business at a young age.
Focusing on the money, not the mission
When you’re starting out, it’s easy to get caught up in the money. It’s natural for anyone who has worked hard for something and finally achieved it to want to make sure they’re compensated fairly for their efforts. But focusing on the money can be dangerous because it can lead you down a path where your business becomes more about making money than doing good work and helping others.
The best way I’ve found around this is by focusing on my mission first–the reason why I started my company in the first place–and then building everything else around that mission: my products, services and marketing strategies all stem from this central idea of what I’m trying achieve through my business. If I ever lose sight of this central idea (and sometimes even if I don’t), then I … Read More