Would you like to know what mistakes to avoid while scaling your Online Business?
This article can help you…
These words come from Matt Lloyd, an Online Entrepreneur who has generated over 9 figures in the online space.
I made SO many mistakes when first starting out as an entrepreneur… But those mistakes are also the reason I’ve done so well in this industry.
That’s why I’m writing to you today, because I want you to learn from my example and avoid these 4-common mistakes…
Mistake #1: Not getting everything in writing
If you ever go into a business partnership or a deal with someone else – where they’re going to represent your company or your products and marketing, the most important thing is to get everything in writing. When I say get everything in writing, I mean to the point where it’s in EXTREME detail.
You should get all details in writing to set the expectations of the agreement, as well as what happens if something doesn’t work out.
Mistake #2: You depend on just ONE Staff member
When you’re scaling very fast, things will be very chaotic. You never want to be too dependent on any one thing…
For example, you never want to be too dependent on one particular employee having knowledge in your company, where if something happened to them or you had some disagreement, you would be screwed.
So you should try to have at least two people who can take care of your problems, because it will save you a lot of stress in the long run.
Mistake #3: You depend on just ONE Customer Relationship Management (CRM) System
You won’t just have problems with your staff… You’ll also have random problems happen with your systems as well.
For example, at one point in time, I had my entire company connected to one CRM. And if something went wrong, it would shut down my entire business.
You need to make sure that you DON’T have all your eggs in one basket. Cover your bases so if one part of that system goes down, it doesn’t bring your entire business to a grinding halt.
Mistake #4: You depend on just ONE merchant account for credit card processing
Unfortunately, I’m still learning these same lessons even today…
Right now I’m going through a new challenge where I’ve discovered we’re too dependent on this one merchant account.
So now we have to rebuild that part of the business. We’ll be fine, and we’ll get through it like always, but it’s also another big mistake you should avoid as well.
So just remember, if you’re scaling, make sure you’re in a position of strength – and you NEVER want to be too dependent on one thing.
Make sure to cover all your bases with your contracts… your business partners… your staff… your CRM… your call centers… and even your merchant accounts.
Its like that old saying, “If you fail to plan, you’re planning to fail.”
I hope this helps you avoid the top-four mistakes people make when scaling their online business. And if you want to cut your learning curve even more, I want to tell you about a really good opportunity today…
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