Making business presumptions without taking the time to learn your target market is a serious pitfall for any starting entrepreneur. Research your market carefully in order to avoid missing the mark on what product is needed. Label very specifically who your ideal customer will be. Properly determining the market determines the location, the marketing plan and the product mix of the seller. In addition, avoid basing your business on trends that may soon fade.
Research trends very carefully to determine whether the passing fad has the potential to stay.
Study carefully how you will attract and sell to customers. Formulate your advertising and sales philosophy using the most appropriate media, timetable and budget for your promotion efforts. This is a serious problem on the Web. Some sites have been able to attract huge traffic, but fails to convert this to sales. You can attract six people a day to your site or six million but if they do not buy anything from you, it doesn't matter if a handful or millions came.