5 Reasons Why Most People Fail To Earn Money Online

If you’ve spent any amount of time online trying to make money on the Internet, there is a high chance that you haven’t made any money online. Or if you have, it’s probably a few dollars here and there.

Am I correct in saying that?

Why do I say that? Am I here to disgrace and discourage you?

Of course not!

You see, according to Business Week, “64.2% of the businesses failed in a 10-year period”.

What about Internet Marketing then? Well, even though I don’t know the exact figure, I can confidently tell you that the failure rate for beginners trying to make their mark at this Internet Marketing thingy is surely higher.

Not only is the failure rate higher, they fail much faster too! :shock:

And usually these beginners or newbie who haven’t made any real money online are skeptical about the whole concept of “earning money online”. But hey, it’s natural for them to feel this way. You can’t really blame them.

I, too, felt the same way 2 years ago when I was just getting started on my Internet Marketing venture.

Anyway, let’s get back to topic of why most people starting out in Internet Marketing fail. Well, there are 5 few reasons why:

1. They want instant results

Most people want instant results. They read some Internet Marketing ebooks or video tutorials today and they expect to be making money tomorrow. They treat these ebooks or video tutorials or home study courses like some kind of magic pills.

Well, well… nothing could be further from the truth…:roll:

When they don’t see instant (or fast) results, they whine and say “I’ve tried everything, but all of them don’t work!”

Sounds familiar, eh?

2. They are VERY lazy and they don’t want to work hard

Typically, people are lazy. It’s fine if they’re just lazy and they don’t expect any results.

But when you are lazy AND you expect to be earning lots of money online, then something must be really wrong with you.

There are no easy money, both online and offline, to be made. If it were easy, everyone would be rich. This is clearly not the case!

There is no Free lunch, my friend. If you want to earn big money online, then you must work hard and work smart consistently. You must be willing to pay the price. :grin:

I paid my dues by sacrificing my TV time, my hangout time with friends, my sleep time, etc.

3. They give up too easily

When these people fail to get any or little result, they simply give up.

They complain (yet again) “I’ve done everything, why is this not working for me?”

To be successful in anything, not just making money online, failure is a process one must experience. There is no one who is really successful at what he or she does who hasn’t had any failures in the past.

Failure is a process one must overcome. Unfortunately, most people do not realize this and they simply give up when their efforts are not yet yielding any results.

Think for a second: when you were a little kid trying to learn to ride a bicycle, did you miraculously manage to ride it successfully without falling off the bicycle at all, or did it take you some cuts and bruises on your hands and knees before you eventually learn how to ride it? :lol:

4. They don’t know where to start

Most people don’t have a clue where to start. They suffer from “information overload”. I sometimes suffer from information overload as well :)

What is information overload?

Information overload simply means that the amount of information you receive on a subject is way too much, so much so that you eventually don’t know where to start and in the end you don’t do anything at all about the information you’ve absorbed.

This leads to action paralysis = NO ACTION = No RESULTS!

5. They try their hands at everything

Today they’ll read an ebook about making money through Adsense, and then they’ll start implementing a few of the strategies covered in the ebook.

A few days later, they stumble upon this site about Forex trading, and they start doing some forex transactions.

Then a few weeks later, someone offers them a video course about marketing on MySpace and they’ll try to implement the tactics in this course.

You get where I’m going right? :mrgreen:

The point is: they’ll try their hands at something new, without going deep on the things they’ve already learned before. Eventually they end up nowhere with a little bit of knowledge here and there.

Now that we’ve taken a look at the 5 reasons why most people fail to make money online, it’s time for 3 tips on how you can reduce your failure rate:

A. You must work hard and smart

Understand that to achieve real results in Internet Marketing, you need to put in conscientious effort, time, and dedication. There are no such things as overnight success! Realize that Internet Marketing is hard, and that you must put in extra hard work in order to make real money online.

B. Do not give up easily

Do not give up easily. Strengthen your mentality. Realize that to achieve success, failures are inevitable. If you fail, you get up and try again. If you fail again, try again.

As the saying goes, “there are no failures, only feedback”. Each failure is one step closer to your goal.

C. Focus on 20% of the work that leads to 80% of the results

Do you know that not all techniques and methods of making money online carry the same weight? What I mean is that there are some techniques and methods of making money online that are more important than others.

Have you ever heard of the 80/20 rule: the Pareto Principle? This is how Wikipedia defines it:

“The Pareto principle (also known as the 80-20 rule, the law of the vital few and the principle of factor sparsity) states that, for many events, 80% of the effects come from 20% of the causes.”

This simply means that 20% of our work determines 80% of our outcome. Conversely, the reverse is also true, which is 80% of our work determines 20% of our outcome.

Your task is to identify the 20% work which will determine 80% of the outcome.

For example, if you’re just starting to learn about Internet Marketing, it would be silly to seek out big name joint venture (JV) partners and ask them to collaborate with you. You’re still a nobody, and they are already somebody. 99.99% of the time your proposal will be rejected.

Try putting yourself in their shoes: what would you do if you’re a well-known Internet Marketer and a guy who has just started to learn Internet Marketing seeks to collaborate with you?

I don’t have to answer that right? :P

If you’re a newbie, it would be a lot better if you learn the basics of Internet Marketing first rather than buying that e-book about how to secure JV partners.

The point I’m getting is: think for a moment and reflect on yourself where you are right now in the Internet Marketing business.

Identify the techniques and tactics that you do not need right now, such as securing JV partners as mentioned above. Once you’ve identified these techniques, be sure not to spend time learning them.

Your time would be better spent on learning the things that matter most to you right now :wink:

NOW it’s time to TAKE ACTION and actually start DOING something that will REALLY help you REPLACE YOUR JOB on the Internet.

Joining my GOLD Coaching will help you achieve that FAST:

CLICK HERE NOW

37 Responses to “5 Reasons Why Most People Fail To Earn Money Online”

  • Dan on February 20, 2011

    Hi Welly,

    Welly I have to congraulate you for being a breathe of fresh air on the internet. You seem to be a pretty straight shooter and tell it like it really is. I have been studying internet marketing for 6 months now. And I have learned an amazing amount of knowledge and information. I have focused purely on learning the basics and the right way to do them. I must say it takes a whole lot of time and effort! But anything worth doing is worth doing well. I have over 30 years experience running a business in the offline world. Offling or online business is all the same. Focus on your customer and the money will follow. Forget get rich quick and get to work! I have a saying that I live by ” nothing in life is difficult, somethings just take more time!” Put that into action and you won’t give up.
    On another note I have a question for you Welly. In your experience do you find a blog the best way to market on the internet? I recently put up a blog site with a lot of blogging info on it. http://blogsitemoney.com I would be curious to know your opinion.
    Thanks for all you do,
    Dan Lyons

  • Omar Pacheco on February 3, 2011

    Another factor I would consider is the poor organization. It is the bigest factor I have struggled.

    I thing if you want to work in home you need to identify and eliminate all of the communs distractions wath you wouln’t have in a office for example.

    Thank you for the post.

  • Christina Saunders on November 16, 2009

    You always get what you focus on! Focus
    means an intense, sustained interest or attention on that, which is what you want.(persistent and consistent attention). See your self winning and let that be your desire. Desire feeds your subconscious mind to show you what to do, so keep looking inward for that still small voice. Listen and then act on what you know you should do. This is better than running around like a chicken that has lost it’s head.
    Good luck!

  • Victoria on October 26, 2009

    I have just started to get in the internet work mode but,talk about information overload! I am a newbie and it is very overwhelming and confusing. This is where I now, believe most people get scatter-brain. Way too many thought’s, ideas, and so called expert’s. What works for one may not work for someone else. I, for one would like to know the basic step’s and grow from there.

  • Mano Rame on October 25, 2009

    IMO the shortest path is to find a good mentor. Even if you’re absolutely focused you need to know if you are heading in the right direction.

    For instance, I wasted so much time promoting make money online ebooks on my blogs. Later my mentor told me that unless you are offering some bonus you’ll be wasting your time writing reviews for these books as people can buy through their links.

  • Rozaidi on October 15, 2009

    Excellent tips Welly.

    I agreed with what being said. I wonder how to proceed if people just give general idea what to do. Why dont they give me step by step in details so that newbie like me can follow exactly.

  • Bryan Hee on October 12, 2009

    Commitment, Consistent and Focus is required to success to achieve our goals!

    To your success,
    Bryan Hee

  • saisubbulakshmi on October 12, 2009

    i am a beginner eager to know the internet marketing, your advise above is very useful to make a continuous effort to succeed, thanks to you and i shall be keep trying till i succeed.

  • [...] I also talk about the Pareto Principle in an earlier post: 5 Reasons Why Most People Fail To Earn Money Online [...]

  • mick on September 24, 2009

    Hi Welly,
    After reading your blog there isnt a truer word said,i hold my hands up and i am one of those people who go jumping from one thing to another expecting to see fast results and not mastering any of them.
    I knew it wasnt working for me so now im going to put all my time and effort on learning the proper way and stick with one product untill i get it right.

    keep up the great work

    mick

  • Albert Grande on September 24, 2009

    Excellent advice. You were able to distill years of learning into a couple of valuable tips.

    I think the most important is to not give up. Have passion and take action. I share the following quote: “100% of the shots you don’t take, never go in”. Wayne Gretzky.

    Keep up the good work. Thanks,
    albert grande

  • Hi Welly,

    Excellent tips!

    I especially relate to moving around from subject to subject! I think it’s time for me to place all my focus on ONE thing, and do it well!

    All the best,
    Laurie

  • Loralyn Tate on August 12, 2009

    You have those steps right down to the wire. I learned a lot from the answers that you gave to comments sent. Thanks

  • Kevin Puls on July 29, 2009

    I could not have written a better post.

    I would also add that most people who want the instant results are often lured by the grandiose income claims of a lot of these so-called gurus & experts.

    When starting an online business, one needs to work it like a brick-n-mortar business, just the same.
    No distractions (kids, family, T.V., phone, etc.).

    Otherwise, it gets real hard to stay focused.

    We might even have to sometimes work at night and weekends while maintaining our 9-5 jobs.

    Best,

    -Kevin

    P.S. Be sure to check out our blog & opt in to get our 1/2 hour interview with Mike Michalowicz, “The Toilet Paper Entrepreneur”.

  • Welly on July 15, 2009

    @Paul: That’s almost everyone’s problem as well. Even till now, I still have the tendency to want to do everything :D

  • Paul on July 12, 2009

    All true but no5 was my problem. Trying to do a bit of everything and end up doing nothing. I’ve learned my lesson the hard way by experience. I now stick with one method and refuse to be diverted doen any other road.

  • Welly on July 10, 2009

    @Peggy, Peter, Irene: Glad to be of help. Keep working and moving forward you’ll get there somehow! :)

  • Irene on July 9, 2009

    Hi Welly, Thanks for all the tips. I’ve certainly been working hard on line – so much so that my kids are calling me a computer nerd! I also have a full time job, so I feel like I have two jobs at the moment. I haven’t made one cent yet, after months of endless hours of work.I’m starting to wonder if I’m a victim of affliate commission theft, I think it’s something to be concerned about. I’ve had 1000′s of hits on my ads but not one sale! I don’t understand what it is that I’m failing in, but I’m not giving up, not yet anyway.

  • peter mcgrath on July 4, 2009

    your advice is oo so true i am guilty of jumping from the latest best thing to make your fortune after many years its only now that im learning to focus

    the reason of course is theres some brillant copy writters out there who know how to push all our physologyical buying buttons

    like instant wealth/lazy mans way of making money you get what i mean and wally i have fallen for them all

    great blog and post
    bye to all
    peter mcgrath

  • Peggy on June 22, 2009

    Hi There:

    Just wanted to say “thanks” for the motivating post.
    I relate to everything you have listed as a problem, and believe me I have experienced all of the newbie no no’s. It is difficult to sort the wheat from the chaff on the Internet. And it is great to hear from someone like you that is honest and hard working telling us to forge ahead. Keep pushing us.

    Later:

    Peggy, The Plain and Simple Girl

  • Welly on June 13, 2009

    @Jesus: That’s how human nature works. We are typically lazy, aren’t we? That’s why we all need the extra push to motivate us to move forward :)

  • Jesus Moreno on June 13, 2009

    Welly:

    At this time I’ll focus on item 2 because I have made some referrals at several programs and I find that most of them, maybe I should say all of them, are: inactive, suspended or free (never upgrade). I suppose we can call them lazy, don’t we?

    I hope that uplines and downlines change their mind in the near future and be more proactive for the well being of we all. Internet marketers or wannabes.

    Regards,

    Jesus Moreno

  • Welly on May 11, 2009

    @Rommel: Thanks for sharing your site. You’re right, it takes either time and/or money to get started in any kind of business. Readers reading this, pay careful attention okay!

  • Rommel Ramos on May 9, 2009

    Hey Welly! These are GREAT INFO. you’ve shared and will be a BIG booster for people in the look for SIMPLE, CLEAR & HELPFUL TIPS on beginning an online career THE RIGHT WAY!

    Let me also add my one penny of advice here. I believe one also need either TIME or MONEY to begin any type of business whether online or the typical “brick-and-mortar”, or traditional business models. It is confusing to see a lot of would-be online marketers not ready to build their businesses in the right way. You either trade one for the other. You start with having a lot of time or money to get your resources, tools,etc. Having both will be a great plus. Any type of business is run the same way – - – it just DON’T HAPPEN OVERNIGHT. It takes time and a lot of work to see the results in the end.

    I like blog posts that are motivational and inspiring like you did with this one. Thanks Welly, and looking forward to hear MORE, ;p)

    ~ rommel ;p)

    P.S. Incidentally, I also provide some quick tips on starting your business using PLR on my site’s URL. A lot of fr.ee and sometimes high-valued stuffs ready for downloads.

    Welly, I’d like to give these out as well.

  • Welly on March 24, 2009

    @Ryan: Sleep time is very important to me as well. I’m saying to sacrifice your sleep time just as a gesture to tell people that they should do whatever it takes to be successful :P

  • Ryan on March 23, 2009

    I agree with everything you’re saying and find myself being a little lazy sometimes. I can get my head around the fact that this takes time but sometimes I wish it would hurry up. The one thing I don’t agree with is sacrificing your sleep time. Sleep is very important. If you’re only sleeping 4 or 5 hours a night or staying awake all night you’re just asking for health problems down the road. Otherwise, you’ve summed it up in a very good post.

  • Welly on March 23, 2009

    @Nando: Yep agree 100%! This is what people need to understand – that the basic model of building a real business online is no different from building an offline business. Yes you still need to put in hard work and time in order to be successful. And yes you need to have leads and turn those leads into customers. :D

    @Fran: Excellent! Be sure to let us know your post man! :)

  • Fran Civile on March 22, 2009

    Welly, you say that
    1. people want instant results
    2. people are lazy
    3. they give up too easily
    4. they don’t know where to start
    5. they try their hand at everything

    I’m looking at those and wondering where the problem
    begins – it seems that it would be #4 and #4 leads
    into #5.

    #1 and #3 seem to go together in a way… but most
    tasks be it cleaning up the kitchen, washing and waxing the car,doing homework and most such jobs have a beginning and an end and they bring some satisfaction of a job well done – except for the category 2 people maybe?

    I’m going to work out these ideas a little more and
    write a post in my blog in response to yours Welly…

    later…

    Fran :)

  • Nando on March 21, 2009

    Hi Welly,

    Love your blog man. One of the main fundamentals people need to keep an eye on with succeeding on the internet is that the overall model is simple.

    I didn’t say easy, but it is simple.

    Identify your market

    Determine your offer for that market

    Set up a leads capture page

    Drive traffic to that page

    Create or offer products related to your freebie

    Duplicate over and over again.

    This is the basic model and whatever you’re doing online will ultimately run off those fundamental steps.

    The key is to stay focused on accomplishing and mastering these steps.

    I like your no B.S. style, keep up the good work.

    Cheers,
    Nando

  • Welly on March 18, 2009

    @Uncle Donald: Hype is indeed a very serious problem that needs to be eradicated. It is sad to see that there are a lot of hype out there. Be sure to watch out!

  • Uncle Donald on March 18, 2009

    Problem is There is so much Hype on the Internet it is Hard to find an Honest program where you do get money to give you the Incentive to Focus on One to Three Programs only.
    One reads the Hype and believes there is money to be made so they jump from program to program in Hope which of course does Not Happen.
    We can all learn from our own mistakes or Learn Faster by someone like you that is both Honest and willing to Teach!
    **************
    Thanks for your Time & Support.
    Regards Don.
    YOU’RE NEVER ALONE WITH AN AUDIOBOOK

  • Welly on November 19, 2008

    Julio – Thanks for sharing your info.

  • julio on November 18, 2008

    Hello there,

    I have been doing a long research if making money online works…well it works reading the five reasons it is true we need to work out asses but becareful who you work for.. http://www.proconsumerguides.org/pcg/Work-At-Home/

    read this information in this website and let me know what u think of this website if it helps. Good luck everybody.

  • Welly on July 23, 2008

    Reg – One valuable tip for you is to concentrate on the 1 thing (YES ONLY 1 THING) that matters to you the most RIGHT NOW! My point is: if you don’t need a Google Adwords ebook right now, then don’t buy it yet. Do only things that will help to get you closer to your 1 goal RIGHT NOW.

    For a start, you can download my FREE report “Your First 100 Dollars Online“.

  • Reg on July 17, 2008

    I have been trying to make some money online in the past few months, but have failed to make a single penny :sad:

    There are so mucch information out there that I don’t know where to start.

    Could you give me some tips?

    Thanks.

  • Welly on July 16, 2008

    Heather,

    Yes, sad but true. Most people are just too naive to think they can achieve results without working eh? :roll:

  • Heather on July 16, 2008

    I can see where you’re coming from.

    Especially for number 1 and 2, they are so true.

    People tend to be lazy in nature and on top of that they want to see results fast without any hard work.

    Duhhh…

    Anyway nice post.

    Heather

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