The wrong venture capitalist is going to want too much of your company or too much control. This means that you are going to feel like you are fighting someone who has been giving you money to help you grow your business. You have to make sure that you are going to have someone to work with who is not going to want too much control. You want to make sure that the management style of your business is going to be under your control. Anyone who loses control of their business is going to lose the online income that they have put into it.
Not Controlling Your PR When Starting An Online Business
Not controlling your PR is going to be the worst thing that you can do for yourself. You have to know what is going on outside your company. People are writing about your business, and you need to know what they are writing. You will be in big trouble if you are not even aware what is being written about you, and you will not be able to control it. You can close down false information, and you can respond to things that might be true. You have to stay on top of this as much as you can to maintain your online income.
Not Responding To Customer Service Complaints When Starting An Online Business
Not responding to customer service complaints is going to sink your online income really fast. People are going to start telling their friends that you cannot even handle a simple complaint. You have to give everyone the kind of service that they need, and you need to make sure that you are going to offer as much service as you can. Anyone who is getting customer service from you after a complaint may come back in the future.
Treating your Employees Poorly To Get More Productivity
Treat your employees badly when you need more productivity is only going to force them to quit. You will lose all the people in the office, and then you will end up on a list of companies that are hard to work for. You do not want to have that kind of distinction, and you do not want to be in a position where you cannot hire people because no one wants to work for you because of your reputation.
Ignoring Obvious Trends In Your Industry
The trends in your industry need to be right on the tip of your tongue. You need to move with the industry, and you need to make sure that you are doing the same things others are doing. Just do these things better, but always know what other people are doing. You get to be different, but you are going to have major problems if you just ignore all the things that are happening around you. Being aloof or oblivious is a good way to lose online income.
Marketing Improperly
Your marketing has to look good, and it cannot be controversial when you want to make online income. You cannot lose market share when you do not have any, but anyone who thinks your company is controversial is not going to want to deal with you because you put out marketing that might have been a little too much. This means you have to think about it and use focus groups so that you do not get yourself into trouble.
Everything on this list is going to happen in the first year unless you are planning the right way. Everyone who wants to have a good business needs to read this list carefully to make more online income.