Let's Air Our Dirty Laundry... Whats Your BIGGEST Internet Marketing Mistake?!

40 replies
Okay, so I've just finished watching a great program on the BBC called 'Business Nightmares With Evan Davies', in which he talks about some of the biggest companies in the UK and reveals the biggest mistakes which have cost them millions.

As Richard Branson quoted (from someone else): "If you don't make mistakes, you don't make anything!"...

...so with that in mind, what business mistakes have YOU made that have cost you time or money?

I think we could have a great discussion (and laugh) about the fact we ARE human and we do make mistakes... plus we can learn from the mistakes of each other!

I'll start things off... I recently paid out $3,000 in commissions to my affiliates by ACCIDENT - as they had already been paid those commissions, but I hadn't quite gotten my head around Infusionsoft's payout system. Oops.

Who is next...?!
#air #biggest #dirty #internet #laundry #marketing #mistake
  • Profile picture of the author dark witness
    Buying 400 domains without the resource to build and manage them properly...

    Ya, I won't be making that one again.
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    • Profile picture of the author raindog308
      Originally Posted by dark witness View Post

      Buying 400 domains without the resource to build and manage them properly...
      I'm curious...what were you hoping to accomplish by having 400 domains?
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  • Profile picture of the author Shannon Tani
    In general, my biggest mistake is getting excited about something, then letting the idea fizzle out.

    Money-wise, though, many many years ago, my first introduction to IM was "Google Cash" which was about direct linking to CB pages. I was intimidated by the competition for some of the more popular niches, so I decided to try to find a product that nobody else was promoting. I settled on some kind of recipe book. Anyway, it sold for like $5, so I only got $3 for the sale and was promoting with Adwords....not smart. Fortunately, I gave up before I lost too much money...

    Love,
    Shannon
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    • Profile picture of the author EdBryant
      "Shannon Tani-In general, my biggest mistake is getting excited about something, then letting the idea fizzle out."

      I have this exact problem as well. The world of IM is so treacherous for a newb ( I am one) because whenever you try to find good info on something you are so easily distracted by all the different ideas and sales pitches you have to navigate to find the info you need. So easy to get sidetracked.

      I write more about my experiences with this stuff at Spartan Boxes.
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  • Profile picture of the author fonoi
    My biggest mistake was not taking action, I was one of those people who read internet marketing ebooks, forums and even courses but did nothing.

    That mistake has been my most costly, I see that now that I am getting results.
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  • Profile picture of the author Shane Hale
    Running Pay Per Click ads without knowing what I was doing at the time. After money came out of my bank account. I learned very quickly to research and stick to a converting offer,targeted traffic and a budget.
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    • Profile picture of the author Steven Wagenheim
      Waiting 3 years to build my list (whacks head)
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    • Profile picture of the author JustinBrooke
      Not building my list sooner and faster...

      Focusing on more than one website/project at a time...

      Focusing on making money instead of building a business...

      Warring with competitors instead of turning them into allies...

      Trying to be like other people instead of myself...

      Taking too much advice instead of following my gut & my research...

      Over complicating everything instead of coming out with the simple version first...

      Thinking people cared about me, when all they really care about is their problem getting fixed...
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      • Profile picture of the author oneplusone
        The "my way or the highway" mindset.

        I used to argue all day long with people who didn't share my beliefs on certain marketing issues.

        I'm a bit more mature now, and understand there are many different ways of doing things.
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        'If you hear a voice within you say "you cannot paint," then by all means paint and that voice will be silenced.' Vincent Van Gogh.
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      • Being stupid enough to fall for scams. A very big lesson learned here and taught me a lot. I deserved it and probably needed the wake up call at the same time. I paid the price for trying to cut corners. Although this was costly, I believe it was necessary to experience this lesson pretty early.

        Another huge mistake is the age-old focusing on too many things at once. This is such a frustrating trap that a lot of newbies, not just in IM, but entrep's in general. They see one good opportunity after another and go after every single one. The thing that's very wrong with this is that you dont get to focus 100% on any of those opportunities.

        It's sad, because what usually happens is that one tries to succeed in one field and starts learning. Then along the way, they see another venture and start learning that. Then the cycle repeats, nothing gets done, and then one ends up cursing each method and say they dont work and badmouth the industry to be a scam and then never really succeed in anything while blaming the method instead of realizing the fact that the only downfall was that they didnt focus 100% into the said venture.

        The message I really want to deliver home in this post is to please, PLEASE get clear on your values before starting a venture rather than doing it for some quick easy cash. I learned this the hard way - but learned nonetheless.
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  • Profile picture of the author NestZone
    Patiently waiting for opportunities and not creating them for myself.
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  • Profile picture of the author Andyhenry
    My biggest mistake was believing the BS income figures people quoted when trying to sell me their stuff. Having that false expectation made getting calibrated to 'realistic' expectations a hard journey at a time when I had enough problems already.
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    • Profile picture of the author x3xsolxdierx3x
      Originally Posted by Andyhenry View Post

      My biggest mistake was believing the BS income figures people quoted when trying to sell me their stuff. Having that false expectation made getting calibrated to 'realistic' expectations a hard journey at a time when I had enough problems already.
      It's the amazing just how far some will go for the all mighty dollar (or, insert any other applicable form of currency)...
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      • Profile picture of the author Andyhenry
        Originally Posted by x3xsolxdierx3x View Post

        It's the amazing just how far some will go for the all mighty dollar (or, insert any other applicable form of currency)...
        There's an element of supply and demand there also though - if we weren't so desperate to believe that stuff people wouldn't be able to use it against us, so it's really an ecosystem which requires false hope in order to thrive.

        I guess it's one of those things in life that you learn best after it's bitten you.

        The up-side of that is that it made me promise myself never to do it to anyone else, so I never make promises to people about anything I don't control or that they can't control, so I guess it's one of those "be the change you want to see things" and you have to hope that people don't get lost in the noise.
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        nothing to see here.

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  • Profile picture of the author sloanjim
    Me? Diversifying. Lost money every time. Stick to what I am good at from now. Grow it.
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  • Profile picture of the author sloanjim
    My biggest mistake was believing the BS income figures people quoted when trying to sell me their stuff. Having that false expectation made getting calibrated to 'realistic' expectations a hard journey at a time when I had enough problems already.
    Yeah that's a lesson hard learned throughout my life. Shame so many seem to think B*S* on the Net is fine.
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  • Profile picture of the author Bryan Douglas
    WOW, I have a lot of mistakes.

    I would say the biggest mistake is taking someone's word and paying for a service without doing my research first. I published a book and used a "book shepherd" to help me with the design, formatting, publishing, etc. later to find that I could have done almost everything myself. They fill your head with high hopes and dreams but they have a big price tag. It's all B*S. I paid a number that would make your teeth grind to have something that was virtually a loss ( except for the experience and lessons learned )

    I would have to say my #1 mistake would be investing in a business that I didn't fully understand and trusting someone to help that was untrustworthy.
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  • Profile picture of the author mavmav
    Selling my money making adsense website for a quick buck but hey what doesn't kill you makes you stronger(hopefully richer).
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    • Profile picture of the author The Content King
      Listening to too much conflicting advice, not sticking to one method, giving up too soon before I saw results, trying to do everything myself, avoided spending money, and not participating on the WF more.

      Oh, and the biggest one, I forgot to have fun with it.
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  • Profile picture of the author Lou Diamond
    Hello,
    I had the chance to buy a domain name with a friend and flip it and I said no,
    he sold the domain for a small fortune and he is threating to tell my wife on my bad move.
    Signature

    Something new soon.

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  • Profile picture of the author Karen Barr
    My worst mistake (and one I still make every day!) is getting distracted by new ideas and not keeping focus on what I'm doing.

    I also get discouraged when I don't see immediate results - which makes waiting for Google rank to improve VERY FRUSTRATING for me. I have a terrible tendency to only give something 10 days, then decide it's not working and drop the whole thing.

    My partner also says I am too much of a perfectionist and should sometimes just say "it's good enough already", but I prefer to see that as a good thing!
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    • Profile picture of the author dark witness
      Originally Posted by Karen Barr View Post

      My worst mistake (and one I still make every day!) is getting distracted by new ideas and not keeping focus on what I'm doing.

      I also get discouraged when I don't see immediate results - which makes waiting for Google rank to improve VERY FRUSTRATING for me. I have a terrible tendency to only give something 10 days, then decide it's not working and drop the whole thing.

      My partner also says I am too much of a perfectionist and should sometimes just say "it's good enough already", but I prefer to see that as a good thing!

      I put my hand up as well. I am guilty of said offense too.
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  • Profile picture of the author J R Salem
    Good topic.

    I think the mistake many people make (and I used to make) is trying to do things too quickly. Everything needs to be NOW NOW NOW!

    I feel like if you slow down and think before taking action on something, it helps clear your mind and bring things into focus.

    I remember I used to always try hard to build businesses in a day or two. Then I realized if I just slowed down, thought things out, THEN took action, I saved time and ultimately, MONEY!
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  • Profile picture of the author visimedia
    I think my biggest mistake was not to do something. What a waste of time. Then after that time, I planned and I did my plan. It's fun right now in doing IM, since this business is giving result (money surely) and more flexible of your time.
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    • Profile picture of the author mavmav
      Originally Posted by visimedia View Post

      I think my biggest mistake was not to do something. What a waste of time. Then after that time, I planned and I did my plan. It's fun right now in doing IM, since this business is giving result (money surely) and more flexible of your time.
      I agree, doing nothing and waiting for things to happen is THE biggest mistake in IM.
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  • Profile picture of the author Joe Benjamin
    Biggest Mistake?

    Getting SUCKED into the mindset of the average
    affiliate marketer...

    selling, marketing, & promoting low-ticket items...

    I thought VOLUME was the key. But, later found
    out in my own research that reaching an income
    larger than $15k a month was borderline suicide &
    back-breaking work.

    ...discovering that I couldn't realistically earn 2-3
    million dollars a year selling $100 or less clickbank,
    WSO, or self-created products.

    I naively thought I could make $50k - $150k+ per
    month selling low-ticket products... that, when I
    was FORCED to look at the numbers, not only did
    it not make sense...

    I would have to sell 500 $100 products to make a
    50k monthly income...appx 125 per week.

    ...I would rather slit my wrist.

    Of all the mistakes I made in my life doing business...

    that was the biggest.

    Luckily, I've learned big-time for it, and all it really
    took was a switch in mindset.
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  • Profile picture of the author Nickolie0990
    Spending to much time developing OTHERS peoples websites. Basically what I'm doing right now. However, now I have the time and luxury to do it.
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  • Profile picture of the author Rod Cortez
    ...so with that in mind, what business mistakes have YOU made that have cost you time or money?
    GREAT topic! I could write a trilogy of novels based on all the mistakes I've made.

    * My first mistake was buying into the hyperbole on how push-button easy it was to make money online from the get-go. The "easy" part only comes after a lot of hard work, determination, being coachable, and focusing on one system at a time.

    * I also made the mistake of spamming our very own Paul Myers somewhere between 1998-1999 by sending him an unsolicited offer. He replied in a very professional manner and asked me if I could send him proof of where he opted in to receive the information. I came clean and told him I didn't have any and that I was new to all this. He was really cool about it.

    * I started building websites with no real idea of what I was doing and with no real plan.

    * I started way too many projects, never really finishing any of them.

    * I started off by promoting only one product, when I should have started with no less than ten.

    * I took too long to automate and outsource things once I started making money, so I bogged down my time with a lot of administrative tasks when I could have been focusing on product creation and actual promotion.

    * Back on the day I spent way too much time playing Everquest, Everquest II, and Horizon's of Istaria when I should have spent more time on building and growing my business......

    RoD
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  • Profile picture of the author robbdogg30
    Trying to market high-end products on youtube was definitely a big mistake.
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  • Profile picture of the author WeBJamming
    Well, I have made so many, or at least I guess I did because I have yet to make any money with all the websites I have and all the affiliate marketing that I have participated in. What gives? Since December I have been on the computer every day, reviewing a million different systems that claim to be better than the one before. I have reached the frustration level of an atomic explosion. Now, I am ready to go out and play in road traffic and hope some driver puts me out of my misery.

    GRRRRRRRRR
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  • Profile picture of the author Jimipedia
    Like many people, my biggest IM mistake is to buy too many eBook and tutorial but ended up not doing anything about it. Even after I read those eBook, I always sceptical whether it can actually work or not. Because of that, I just felt that I wasn't going to give it a try and waste my time or money for that matter.

    Now, I'm a full time IM and making living from the Internet using a method that I created myself. I never spend a dime again buying those eBook or tutorial.
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    • Profile picture of the author westgateok
      I think that my biggest mistake so far (hopefully a few more good ones to come) would be to read and try to learn too much. Information overload is what I ended up with, without much to show for the hours that I spent "learning"
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      • Profile picture of the author Sean Doody
        I think my biggest mistake was buying program after program on how 'YOU, YES YOU TOO CAN MAKE $356,987.87 IN JUST 3 WEEKS' B.S.!!

        Basically I would buy one of these waste of time programs get really excited, even convince myself that yes this one was different to the others, this one was actually going to work.

        Find out painfully quick that NO it doesn't actually work quite as easily as was made out in the sales page

        What would I do then?? Give up on that after a couple of days and buy another one of course

        Lucky for me I stumbled upon a really great membership site that took you by the hand step by step on how to genuinly make money online. No, how to make $1m by xmas fluff!!

        If there is anyone totally new to all of this I would say look around before you buy any product. Generally the one you will want to go with will be the one that DOESN'T tell you how to make '$625,876.87' in 3 or 4 weeks

        All the best fellow warriors,
        Sean
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  • Profile picture of the author BloggingPro
    My biggest mistakes.

    1. Not building a list earlier.
    2. Not accepting Facebook was as popular as it is. Put off social marketing for too long.
    3. Not utilizing Youtube properly to drive traffic, sign-ups and most importantly sales.

    If I would have known three years ago what I know now... I wouldn't have a namecheap account with a ton of domains in it!
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    You're going to fail. If you're afraid of failure then you do not belong in the Internet Marketing Business. Period.
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  • Profile picture of the author redrabbitt67
    Chasing too many different methods to make money and not focusing on one strategy. Look at all of the different systems, decide what you like, what you're got at and stay doggedly focused on building it up. Just about any system will work, but it takes consistent hard work.
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  • Profile picture of the author markowe
    Not joining the WF earlier!!

    Seriously, not to start another "we love WF" thread, but I spent several years on the WRONG forum/s (can you guess which in particular?) before FINALLY realising the incredible knowledge and value that gets shared around here. Spent a couple of years learning what DOESN'T work, at least. Now my IM business is coming on in leaps and bounds.
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  • Profile picture of the author David Crutcher
    I think my biggest mistake is not doing direct type marketing.. A lot of folks with as many domains as I have try to sell their domain names to end users but I just can't bring myself to contact businesses and try to explain to them why they need a certain name. I would be horrible on the phone trying to sell something. I've had 2 people contact me about 2 names over the past 5 years that bought one name each lol. Both were end users.
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  • Profile picture of the author raindog308
    Following other people's recipes.
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  • Profile picture of the author SergioFelix
    My main problem was not being able to recognize when to get out of planning mode and start taking action.

    I thought it would be really naive to try to create an online business without following a concise plan first.

    I kept buying courses, learning, jotting ideas down, signing to every guru list I could find and preparing myself for "rockstar success".

    To my eyes, learning stuff was taking action so I really wasn't concerned that the money wasn't still rolling in... yet.

    When I finally decided to "take action" I got sucked into perfectionist mode only to find out that my "great ideas" were already obsolete in the IM industry.

    ---
    The mere fact of planning and learning without ever taking action is WORTHLESS.

    Finally jumping to action only to try to be a perfectionist about everything and never get anything done, is even WORSE.
    ---

    What's more embarrasing is that it took a while to be able to figure this out for myself. *facepalm*
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