Social Media Mistakes: Are You Forgetting Your Fundamentals?
It’s interesting as a marketer to watch how the Internet has changed over the last ten years, especially what has changed for solo entrepreneurs and small business owners.
When I started investigating how to make money online in the late nineties, most strategies were e-commerce focused, or built specifically to take advantage of the dot-com bubble.
You either set up a website to sell something physical like Amazon.com did for books, or you set up some kind of service and focused solely on user-acquisition, since most entrepreneurs were more interested in growing fast rather than making profits. The logic being you could figure out a way to make money after you built a huge user-base, but you usually get bought out way before that happens, so you exit rich, even if the company doesn’t make a dime.
I was keen to cash in on the dot-com bubble myself, though being in Brisbane Australia, not exactly a hot-bed for Internet start-ups at the time, it wasn’t easy.
I remember calling a mastermind meeting at my friend’s house to discuss opportunities. We had some good ideas, and some bad ones, but nothing really cemented together. My friends went off and started or continued their careers, while I went back to fiddling around with different web projects in my spare time.
Back then there was no blogging, or social media, or even Google. AdSense and Adwords didn’t exist yet, and affiliate programs were only just becoming readily available in different niches.
That’s why so many people had to focus on selling physical items using online stores. You could make money with advertising or information publishing, but most people didn’t have a clue how to do it. There weren’t courses or all the free information we have about these subjects today to help guide you. You had to figure it out yourself.
Fundamentals Stay The Same
As I’ve watched things change over the previous years I’ve noticed a few key fundamentals that haven’t change, namely –
