#1 Mistake for Startup E-Commerce Web Sites - VIDEO

I finally figured it out!  Here's a video explaining the #1 mistake that most new web site startup entrepreneurs make.

Unfortunately, I see new online entrepreneurs make this same beginner's mistake over and over and over. 

After my recent "Fake Progress" post, many of you wrote to tell me you get stuck in "Analysis Paralysis" when starting a new web business.   Research is okay, but I've realized that it's a particular type of analysis that can KILL YOUR PROFITS.  (Hint: It's demand you should be researching, NOT supply!) 

Watch this short video to see how just this one change in your business strategy can help your new online business successfully make more money online a LOT faster. 

[You can watch more Scott Fox business-building videos here .
Or subscribe to my YouTube Channel here.]

Does this shift from 20th century thinking make sense to you? 

Am I right about this or making too big a deal of it?

What do you think?

(And if you'd like my suggestions on how to SOLVE this problem, watch my video "Customer Mind-Reading: How to Find Customer Demand BEFORE You Launch" here.)

  

 

 

 

 

 

Comments

[Carlos Gutierrez]

Hi Scott, I think you're spot on. I've seen this with some start-ups in the tech space we advise. They are in love with their technology and arrive looking for a market to address with a "solution"--- it should be the other way around. We inform the companies that we advise that it starts with an acute customer "pain point" (the customer need) that they need to identify and quantify. Then go about meeting that need in a compelling, defensible, and sustainable fashion.

--Carlos Gutierrez
Larta Institute

[Karen Furst]

Scott, I think you are totally right about this. But - please tell us how to find out what the demand is for the product we have in mind. Thanks! - Karen Furst, HippoMojo.com

[Scott Fox, Click Millionaire]

@Carlos - Exactly! Thanks for dropping by and inviting me to speak to your USDA Technology Commercialization Entrepreneurs group recently.

@Karen - Here are 4 quick suggestions:
1. Talk to customers and potential customers A LOT before launching new products.
2. Use keyword research tools like Google's free Traffic Estimator to find the number of searches on topics/products/services you are considering launching.
3. Run PPC text ads to gauge consumer interest (as demonstrated by various click-through rates) in different topics/products/services.
4. Run a survey using Survey Monkey to ask customers and potential customers about their interests and needs.

It looks like that's enough material for me to do a video on this topic. Check my YouTube channel at http://www.youtube.com/scottfox1 for a short video of more details on these strategies.

Best,
Scott Fox

[Scott Fox, Host of ClickMillionaires.com]

Thanks to Karen's great question above, I followed up on her question to create a new video.

Visit my channel on YouTube to see the video titled "How to Find Customer Demand to Increase Sales". It's here:
http://www.youtube.com/watch?v=TxSryR8LLpA

While you're there, please click on the "subscribe" button to be notified when I post new videos, too.

Best,
Scott Fox

[Hunter Farris]

Makes sense, but I'm wondering how do you figure out the problems that aren't being solved?

[Scott Fox, Click Millionaires]

Hi Hunter,
Your question is a good one that is discussed extensively in my first book, Internet Riches.

If you would like more detail than that, please feel free to submit a question for the Click Millionaires Show at http://www.AskScottFox.com and I'll try to share a more detailed answer next time I'm on the air.

Thanks for visiting.

[Peggy]

Yes, Scott Fox, yes! A very logical and no-nonsense video. Also enjoyed the laugh about dying broke and alone. ;~)I'm off to have a look at the new video. Thanks!