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!
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…
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.
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?
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?
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?
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
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:
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