Mistake No 3 - No Marketing Strategy

This one is huge and one that I am proud to say I actually did my home work on.
The big thing here is to know your market and the best ways to access them.
Knowing your demographic is an important part of how you market your product.

Using the internet to access a demographic of 60+ will lead to failure unless they have children or grand children to go searching around the net for them.
I have experience in this area since my father has been trying to use the internet for nearly 10 years and still has issues with typing in a web address.
Sorry Dad, but you're probably not going to read this anyway...
If you are aiming for a demographic in the 20-45 market then  internet, social networking and blogs will allow access to this market along with the traditional forms of marketing, such as newspaper, television ads and catalogue marketing.
Never under-estimate the power of social networking sites like Facebook, My Space, Care2, Twitter,etc.
Like word of mouth was back in the days before computers (yes there was a time that everything was on paper in the written word!!) the internet now provides a medium where you can reach friends, friends of friends and so on.
An unlimited and tappable market which can offer credibility and an arena for anyone to openly review your business and products.
This sort of marketing is priceless and if you are providing an exceptional service you will be rewarded by this type of marketing.