Cox Padmore Skolnik & Shakarchy LLP
866-716-3813 Blog Contact

Mistakes for New York entrepreneurs to avoid

The Internet has made it easier for entrepreneurs to start their own companies and for customers to find the products that they sell. However, starting an online business requires good business sense and a long-term vision. When online entrepreneurs first start out, they may decide that a cool website is more important than the features it provides. This is a critical mistake that can turn customers off.

Another mistake is failure to gather and manage an email list, which are one of the best ways to find interested customers and get them to buy over and over again. Failure to build a list means paying for advertising to get your site in front of customers. It could also be the sign of a poor marketing or promotion strategy. Entrepreneurs may not understand the value of a good partner who can manage an email list or an advertising strategy.

This can have the effect of increasing marketing costs while reducing the return on investment for each dollar spent. The same is true when negotiating a contract. Although contracts are rarely enforced when things are going well, they will be enforced to the letter when things aren't going well. Ultimately, it could result in lost money and a lost customer for the life of the company. Therefore, it is important to understand what the company needs out of a contract and hold firm when necessary.

Being an entrepreneur may provide an individual with the chance to make money from his or her ideas. However, being a small business owner may also come with risk. Therefore, it may be beneficial to hire a business attorney to protect a company's interests.

Source: Entrepreneur, "The 7 Mistakes Entrepreneurs Make When Launching an Ecommerce Startup", Stephen Tanenbaum, August 13, 2014

No Comments

Leave a comment
Comment Information

Consult Our Skilled, Pragmatic Manhattan Commercial Litigation Attorneys

Tap To Request An Exploratory Consultation ยป

Entrepreneurial, Corporate and Individual Legal Services For Domestic And International Clients

To Request A Consultation By Phone, Call: 917-512-4332 (NY/NJ) | 917-512-4332 (CO) | 866-716-3813 (Toll Free)

New York Office
630 Third Avenue 19th Floor
New York, NY 10017

Toll Free: 866-716-3813
Phone: 917-512-4332
New York Office Map

Great Neck Office
98 Cutter Mill Road, Suite 310N
Great Neck, NY 11021

Toll Free: 866-716-3813
Phone: 917-512-4332
Great Neck Office Map

Hackensack Office
27 Warren Street, Suite 304
Hackensack, NJ 07601

Toll Free: 866-716-3813
Phone: 917-512-4332
Hackensack Office Map

Denver Office
1060 Humboldt Street
Denver, CO 80218

Toll Free: 866-716-3813
Phone: 917-512-4332
Denver Office Map