Not all online business strategies work for all businesses. Unfortunately, many Solopreneurs will continue to force themselves to follow a standard. Don’t let it be you. Learn some PROVEN tactics to help you avoid these common pitfalls of assumptions and set up your brand for profitable success.

With more than 4 billion active online businesses, all vying for attention, the Internet has made it possible for businesses of various sizes to compete on a level playing field. The main problem remains that most of these companies are not sure how to get the buying attention of potential customers for their products or services. Building a Power Crew will be essential to your success as a Solopreneur because you’ll need to rely on someone to help you handle daily tasks. Check out these 10 common assumptions made in online business that you need to avoid to get a successful head start.

1. Skimming on investment. There’s a big difference between spending smart and just being cheap. Cheap is Expensive (“Cheap is Expensive” – Judge Marilyn Milian). Reciprocity is very useful and helps you build a secure and reliable network. Everyone wants a deal when they spend their hard-earned money. Most entrepreneurs have heard the saying, “You have to spend money to make money.” In reality, when you take your brand seriously enough to invest in it, be it time or money, you will ensure that everyone in your Power Crew is properly compensated. This could be financially or through barter systems. Either way, you must be willing to give as much or more than you take from others.
2. Remain blissfully ignorant. Are you leaving clients unattended because you refuse to explore new opportunities and creative possibilities? Put some investigative action behind your motives. Ask your virtual assistant or intern to check out some new avenues. Hire someone to manage these new tracks for you and add them to your Power Crew. Typically, they would be focused on these tasks for at least 5 hours a week; 1 hour a day. Ignorance is not bliss, especially in business. there are just too many opportunities for Solopreneurs to get going and dominate some corner of their market.
3. Blind Financing Without Reason. How can you properly guide your brand to financial success or at least avoid bankruptcy if you can’t keep track of how much money is flowing into your business? If you’re shocked at how much money you’ve spent in a year, are constantly looking up all your expenses at tax time, and/or are always living in the red, then you’re doing it all wrong. Do not accept that your business is a financial burden for you. You must have a budget in place to help you stay on track. Remember, you started this out of the FREEDOM to not exchange one set of shackles created by frustration for another.
4. Maintenance is an option. I see many clients who believe that paying someone to manage their website is a waste of time, however, these are the same people whose websites are constantly outdated behind the scenes and left vulnerable. Your carelessness is the hackers dream key to your information buffet. Much of these elements can and should be automated, but you must remain vigilant to protect your online business. If you are collecting customer information, there is no room to be casual about website security and maintenance.
5. Keep up with the neighbors. Going out of your way to follow what the crowd is doing instead of taking stock of what will work for your brand is ultimately a waste of your time. This is not to say that watching your friendly competitors and peers can’t be a learning experience. you simply have to learn to take the knowledge of learning and chart your own destiny.
6. Online businesses don’t need a budget. As an extension of financing your business blind, you need to realize that just because you have an online business, you are not exempt from having a budget. Many believe that because they don’t have the rent of a brick and mortar establishment, they are free to spend a lot. That is not the case. Your “rental” is your hosting provider, your domain name, and your SSL certificate. Your “utilities” are your financial manager (account/apps), email automation services, payroll, and anything else that helps you run your business. You MUST keep track of these and make sure you’re not using all your resources without making some sort of profit to pay your rent or mortgage AND put food on your table.
7. Disconnected from the reality of running a business. Stay grounded and connected to the roots of your business so you are aware of what is happening and ready to rework any strategy accordingly. Even when people consider themselves “successful,” they know there is ongoing work involved in maintaining the level of success they enjoy or want to excel at. Given everything we’ve discussed, these pieces come together to help you face the realities of running a business head-on.
8. Blaming others for your failures. The blame game is a waste of time. Don’t let responsibility become a passive slogan in your business. Live up to how you would like to be treated by customers and other businesses. If you or your brand fell short or messed up, take it as an opportunity to improve and get back on track. Ask for feedback. Failure is not a bad thing if you don’t allow it to become a stumbling block or a crutch. Drive and take responsibility while showing others who work with you to do the same. Showing is much better than telling!
9. Being online is an automatic success. No online business is an automatic success and anyone who tells you otherwise is lying to you. I figured once my website was up and running, I’d be good to go. Well, not exactly established, but most of my work would be complete. I was so wrong and I didn’t even realize how wrong I was. I had to quickly learn about e-marketing, copywriting, and product creation to really make my business work. I’m no expert, but I had to get my butt in gear fast to be able to drive long enough to get things where I wanted them to be. Automation can make things easier for you, but without you putting ACTION behind the KNOWLEDGE you collect, your brand is dead in the water.
10. Disinformation. Stay as informed as possible. “He Said, She Said” doesn’t work when you need to share information with your Power Crew and customers. Never miss out on innovative movements happening within your industry or in other industries. If an app or software didn’t support your business in 2011, check back and see if things have changed. if you didn’t think Twitter, Pinterest or Instagram were a good fit for your business and your customers wouldn’t be interested in a company blog, reconsider these moves. Try things. You may be surprised at the results and new information that flows from these various options.

boss up

Once you’ve figured out what makes your business thrive like a well-watered plant, you’ll start reaping the benefits of an overall profitable business and brand. I think of my business as a well-watered plant because there is energy attached to it. He needs my care to survive. My emotions affect my business and I need to support them both.

Customers want to know that you, as a business owner, care enough to pay attention to the little details while maintaining the overall image of success.

the summary

Put all of you into your business. After all, most of us aren’t here for a one-night stand. Instead, we’re in this to win it! So go out there and build your brand against these 10 common assumptions most Solopreneurs make in online business.

For your continued success and learning!