We are finally approaching 2015 in a few days more.
As our article- Here’s How to Start Online Business in Malaysia in Just 1 Day has received a lot of views and we get asked a lot about what business should you start in 2014, today we are going to flip over to the other side of the coin and talk about what kind of online businesses you should avoid to do in 2015.
1. Illegal business
Yes, we are merely stating the obvious, but some people are still not clear about what businesses are legal and what are not. Before you start an online business, or even an offline one, you should really go through and research thoroughly about the business you are going to venture into. Make sure it is completely clean and not doing anything against the laws, else sooner or later you will get yourself into trouble.
You are still abinded by the local laws and regulations of your country even you are operating an online business. Your online business possess a true business entity and is not something you should fool around with.
Malaysia’s government is also getting stricter and keep enforcing new rules to govern online businesses, so you should take extra precautions if you are going to venture into this world of internet business.
2. Affiliates
Some says affiliates like Cickbank, Amazon, eBay Affiliates are dead or some sort. Well it is not really dead, but in order to squeeze a decent profit out of it by starting in 2015, it’s not going to be easy.
To be honest, affiliates websites are so saturated these days and Google has been punishing affiliates-only websites so hard that they can hardly rank anymore.
So instead of starting off a blog and placing affiliate banners and links, we suggest that you join the reseller programs of other business (in the case you don’t have your own product or service) and build your own business and brand.
3. Things That You Don’t Care
If you personally don’t like the things that you are selling or doing, then don’t do it at all. Your business should be your passion and motivation, if you are doing the things you don’t like everyday, it won’t be long before you get frustrated and give it all up.
Even if you are entering a very competitive industry, it doesn’t matter! What you need is a great passion in what you do and then try your best to differentiate your business from the others.
4. Business That Doesn’t Solve Problems
The purpose of a business is simple – to solve problems that your customers have. A car dealer solves the problem of travelling by foot. A hair salon solves the problem of the difficulty of trimming your own hair. A PC repair shop solves the problem of your computer.
If your business doesn’t solve the problems of your customers have, you might have a hard time promoting the purpose and benefits of your business. Keep in mind ,the problems that you solve should be important for the customers, not an unimportant one.
5. Short Term Business
Many youngsters these days love to seek for “jackpot business” or short-term business that can yield them a big sum of profit in a short time, but it didn’t lasts long.
If you are going to venture into online business, don’t expect to see good result in a short time. Business takes time to build up, it is now and it always will be.
Setting an unrealistic expectation about your online business is not going to help.
6. Facebook-only Business
If you are still operating your ‘business’ with only a Facebook Page, you are going to face trouble in 2015. Facebook is consistently changing its rules and algorithms. It is getting harder for small business or low cost Facebook Page owners to promote and get their posts appear on the users Newsfeed without using Facebook Ads.
You should start to build your own ecommerce online store in 2015, and get out of the leash from Facebook. Say good bye to Facebook restrictions and set your own rules!
Do you have any more to add to the list? Let us know in the comments below!
Sanz Teoh
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