The common statistic that gets thrown around a lot is that 95% of people fail to make money online. It’s because of this that I often get asked what the secret to my success is.
I could give you my secret now. However, I think it’s better worth your time to know the main reasons why those 95% fail, so that you can avoid their pitfalls.
1 – Quitting Too Soon
I know a number of people who have made the effort to start something online. Then at the first hurdle they stumble, fall and walk away.
And that hurdle is different for everyone. It could be that they didn’t know how to create a web page or set up their autoresponder.
People don’t fail because they don’t know how to do something. They fail because they don’t figure out another way of getting that job done.
I’m not a technical guy. I don’t enjoy writing code or doing any form of programming. And don’t get me started on creating graphics. I don’t know how to do these things. But I’ve never let it stop me from moving forward.
For everything you can’t do, there will be a talented individual who can.
This should never be a reason to give up on your dream of making money online. There are plenty of places you can go to find the right people to complete tasks professionally and efficiently for you.
2 – Picking The Wrong Niche
Now there’s no such thing as a right or wrong niche. What I mean is that the niche you pick has to be right for you.
So many people get into this business and go for the biggest, most lucrative niche out there. But they have zero knowledge about it and absolutely no interest in it whatsoever.
As much as we talk about creating a passive income and living the dot com dream, the truth of the matter is you have to put in a lot of work before you reach that point.
If you’re not doing something you are passionate about, your time online is going to be painful and difficult.
3 – Thinking It Will Be Fast and Easy
It takes months to reach a stable income from online endeavors. Many people fail to realize that. Nearly every day I’ll receive an email from someone asking “How do I make money online?” What possible answer do these kinds of people expect from a question like that?
A one word answer that will solve all their problems?
I’m afraid it doesn’t work that way. I earn $40,000 a month from my blog. But it still took me two years to reach that point. And it was during that time that I made mistakes, lost money, kept learning and continued to improve.
It was a bumpy ride. But I never quit. Every failure was a lesson that made me better.
Many people go out and buy a ton of products and expect to be making money overnight because of that purchase.
Making money online is neither easy nor fast, however it can be fun. I’ve always said that it’s not the destination but the journey that matters. Realize that you have to be consistent and committed. And most importantly, don’t give up.
￼4 – No Planning
A lot of people rush into Internet marketing without an action plan. They have all these ideas that they want to implement but no system to follow.
So some do everything all at once and their business becomes one big mess. They aren’t able to focus their efforts properly, so in the end nothing is fully executed. Others do things in sequences that just don’t make sense. And they lose out on so much potential cash because of it.
You must plan your schedule ahead for the coming weeks and months. Figure out what your short term and long term plans are. Then write down all the steps you’ll be taking to achieve them.
The key to making money online successfully is to follow a proven system.
5 – Information Overload
With so much stuff available on the Internet, it’s tough to know where to start. Information is abundant, both free and paid. In truth, everything you need to know about making money online is online.
For a lot of people who are interested in earning an income from home, they take one look at the millions of websites, countless tips and tricks, products and programs and software, and they just get completely overwhelmed.
And here’s what happens.
They suffer from information overload.
Now I don’t blame these people for getting lost and feeling overwhelmed by the sheer amount of information out there. But this is the worst excuse to not being able to make money online.
Imagine that you needed to drive to a certain location but didn’t know the way. So you asked friends and checked your GPS. And you received multiple routes from different sources. Instead of logically going through the answers, trusting the most reliable source, looking for someone who had been there before who could help you, you give up and stay home.
It’s the same concept with making money online. Yes, there are a lot of products out there that promise riches and websites that promote different techniques and strategies. It’s hard to separate the wheat from the chaff.
But there are also reliable sources of information from guys like me who have been around for ages and seen it all. If you’re still looking for a system that will get you proven results using time and tested methods, you could give my new program, IM John a whirl.
Don’t let a fear of getting lost stop you from leaving the house.