Why do so many people fail to make money online?
What are the reasons why so many people try but fail at making money via the internet? Considering the fact that it costs very little to put up a website these days, there has to be some reason why most pople fail to make money. After all, it seems like it should be so easy. We’ve all heard about people becoming millionaires from their online businesses. Anyone who uses the net regularly will come across adverts that direct them to sales pages that promise easy ways to make thousands of dollars, heck even tens of thousands of dollars weekly, just by following their advice or using a simple system or program that will generate them huge incomes. First of all, be realistic. Some people are suckers for talk about easy riches. Ok, there are thousnds of very clever individuals who can make a lot of money online. They are usually very astute and have a knack for marketing. They can see very clearly the path they need to take in order to succeed. And they are also very well organised at outsourcing their work to others very cheaply, thus saving them time and money and making quick progress towards achieving their goals. To reach this level of success however, for most of us, will take time and a lot of determination to succeed. You need to learn what works and what doesn’t. There is so much information being sold or provided for free on the internet, it’s hard to get a clear vision of what you need to do to make it work. Perhaps the following advice might help you define the direction you need to take. First of all, let’s consider the problems that most people face. 1. A limited budget. A lot of the people who are desperate to make money, can’t afford or don’t want to spend any money to gain the knowledge they need to build an online business effectively.
Unfortunately, in most cases it will be necessary to make some investment in both learning what works and then implementing the steps you need to take to get your business off the ground and put the right system into place. Yes, there is plenty of good free advice online but it may be hard to find the best advice for you. So first it’s important to define what you want to achieve and then find and obtain the right type of advice you need. To actually get your web business up and running doesn’t necessarily need a big investment. In most cases setting up a website that can start earning you money can easily be achieved on even a very small budget. 2. Not having a clear plan of action The problem with most internet related business manuals is that they don’t always provide a full and detailed explanation in simple step by step detail all the knowledge that is required to put their plans into action. It’s more a case of learning a bit here and a bit there and eventually putting all the pieces together like a jigsaw puzzle. The problem is there are many different ways that can be used to generate income online that if you try to combine more than one procedure or ‘system’ then things can start to get complicated. So a lot of people suffer from ‘infomation overload’ when they try to piece everything together themselves, infomation that they have gathered and tried to learn from different sources. Unfortunately, this leads to confusion and to a certain degree ‘paralysis’ and they make very little progress. Ideally, you should find one good mentor who can teach you a simple but effective system that will make money. Once you have achieved positive results you can then proceed with more confidence and build up your knowledge of other web-based methods that will generate more income. If you find a good mentor that gets you up the first step of the internet marketing ladder then stick with them until they have taught you everything you need to know about how to expand and build up your business. 3. Lack of determination to succeed I believe it was Napoleon Hill the writer of ‘Think and Grow Rich’ who said... “a quitter never wins and a winner never quits” That’s good advice. But you also need to know when something is working and when something isn’t, and then decide whether you need to change direction. For example if you’re tracking the results of an ad campaign and you’re getting very poor results, do you quit? or do you try a different approach? Perhaps tweaking the headline or copy of the advert could bring better results. But unless you try you won’t know. No successful business person ever gave up when faced with a few minor obstacles. Their determination to succeed just makes them stronger and more detrmined to find an alternative way to solve the problems they face. And believe me, there will always be some problem that you will have to overcome at some time during your business. One of the problems that you should no longer have to face, at least in the early stages, is to get some kind of web presence that you can establish and start creating an income from. At least from the standpoint of the costs involved. Affordability is no longer a problem. Gone are the days of expensive web hosting and domain names, and hard to learn web design software.
Registering a domain name can cost less than the price of a takeaway meal (I recommend GoDaddy who are one of the biggest and best domain registrars online)
Web hosting for your website (an absolute must if you want your website turn into a serious business tool) can cost from as little as $5 per month - (Hostgator provides one of the best web hosting services available at very competitive prices)
Website and blogging software is now widely available and free to download and install on your web server. (Many web hosting companies now provide very easy to use Wordpress installation procedures for example)
A variety of basic Wordpress templates to spruce up your site are available for free online. If you want something with more design flair you can purchase more professional ones at very reasonable prices. (ThemeForest.com and woothemes.com sell some nice WP themes)
You can even design your own Wordpress templates using a program such as Artisteer (I use this regularly as a design tool to build some nice looking niche websites) So as you can see, there is no major hurdle to overcome in order to get started. And the internet is still in it’s early stages and expanding at a phenomenal rate, where those with the right knowledge and guidance can still take advantage of the opportunities available. Perhaps some general guidelines might help give you some extra confidence and make you feel more comfortable about getting involved in this type of business. I recently read a very good article which outlined some of the reasons that could turn your failure into success.
It basically went on to say that the keys to online success are ..
1. Avoid getting into debt This is a good rule for new businesses. You should avoid spending money that you can’t afford whenever possible. Even though a lot of businesses get started through borrowing money, this shouldn’t be required when starting up a small internet based business. Once your simple little website starts to make you an income then you can start to self-finance the business without the need to borrow. 2. Pick a market in which you can win. Having knowledge of your chosen market gives you a good foundation on which to build your business. Study the market carefully though. If there are too many ‘big fish’ competitors already well established in your niche then you may need to decide whether you have any chance of competing with them. Do some research into specific areas of your niche and take a look at whether you can get a smaller slice of the pie by specialising in a less competitive sub-niche related to the main subject. That way you can use your knowledge to better effect. 3. Choose a good mentor. This is one area that is essential if you’re a complete newcomer or have very little basic knowledge of internet marketing. There are many so called ‘mentors’ who profess to being able to teach you everything you need to know to succeed on the internet, but my advice is to do a bit of background research on them first. One person I will recommend without hesitation is Chris Farrell who is widely respected and whose membership site is regarded as the “No.1 Internet Marketing Service” in this field.
His teaching style is exceptionally good and you can get some good free advice from his website through the video tutorials and articles he provides. Signing up to his membership site (see below) will give you a great foundation of knowledge for starting and running an online business. Other guidelines mentioned in the article referred to above advise you to.... ‘value your time’ ... ‘connect with others and build good relationships’ ... ‘do not let excuses prevent you from getting something done today’ ... plus, once you have a profitable system in place... ‘keep investing in it until the returns begin to diminish’ Remember these few rules and apply them to your business.
As I come to the end of this article another well known quote from Napoleon Hill comes to mind... “Patience, persistence and perspiration make an unbeatable combination for success” |
