There is only one way to earn money online – put an offer in front of people who want that service or product, and convert them into buyers. There are, of course, many different sub-niches of how to do this… you could be involved in selling the traffic that people need, you could be selling your own info-product, you could be sending traffic to Amazon, you could be directly selling a physical product on Ebay… but all of these involve selling a service or product to someone
Now, there are only two reasons that you don’t earn anything online … and I’d like to delve into them to see if you can judge which of the two reasons you fall under.
Reason #1 – Why You Don’t Earn
This is the most common – you haven’t done the work needed to earn anything. Simply putting up a video or two on Youtube, or setting up a niche affiliate website – isn’t enough to do the job. People often misunderstand the online process… thinking that you merely ‘push a button’ and money will start to flow to your Paypal account.
This is the idea that’s pushed on everyone by people selling to the lazy. People want money without working for it – look at how popular the lottery is!
It’s true that you can earn far more money online, for far less effort than it takes in the offline world – where 40 hour work-weeks are common… but you cannot build a meaningful online business with 10 minutes a day online, no matter what anyone says.
If you aren’t dedicating at least an hour a day, 5 days a week, and 4-6 hours a day on the weekend – then you really aren’t even trying to build a business. This does not include the time you spend reading forums or your emails. I’m speaking purely of time you spend creating content online.
Since people are often misinformed about how long it takes to move your online business into earning money – they often switch to the next ‘shiny thing’ they find online. The vast majority of ways you see online to earn money will work – provided you put in the time. The best ways to earn money online are methods that involve creating a real service or benefit for other people… such as what I teach, which is to develop an Authority site that helps people with a specific topic.
By constantly switching to the next project, and never investing the time to make the initial project work, people get the idea that nothing they’ve tried actually works – when the truth is often quite different. It doesn’t matter if you agree with me that building an Authority blogging site is the best way to drive traffic in order to build your own list… whatever method you use to earn money – you must invest enough time and commitment until you start to see profit.
There’s also an inverse relationship of money to time – if you are capable of investing more money into your online business – it won’t take nearly as much time. But if you’re attempting to bootstrap an online business with the least amount of upfront investment possible, then it’s going to take more of your time to do so.
Since many people cannot afford to spend very much money – times aren’t easy for many people – you’ll have to invest the one thing that you can afford to invest – your time. However, one of the reasons people fail is because they fail to understand that if they don’t invest money they must invest their time into building a business.
This lack of understanding – which is encouraged by many ‘Make Money Online’ Info product sellers – causes people to fail to spend as much time as is really needed… then they end up moving on to another method because they think they’ve failed with the current one.
Do you fit into this category? Are you misunderstanding just how much time is needed to get a real online business going? Or do you fit in the next category…
Reason #2 – Why You Don’t Earn
The second reason – one that I once had – is that you’re failing because you MUST fail before you succeed. Let’s face it, many people have no idea whatsoever how to install an set up a website – and that’s critical for an online business – you have to have a place where customers can find you.
So your failures are really just steps in learning what you need to learn in order to eventually succeed.
Sometimes people give up at this stage, because they have a series of failures – not realizing that each time they’ve learned a little bit more of the knowledge they need to ultimate create a successful business.
Ironically, you should embrace each failure – because it means you’re that much closer to success! But human nature being what it is, I certainly didn’t rejoice each time I failed – but I did learn from each failure.
- I learned that I can pick a niche so narrow that my sales, while nice, would never support me.
- I learned that I can make a very healthy amount of money, until a resource I counted on changed their rules. (Ebay, Google, Amazon…)
- I learned that you cannot build a website, and simply hope people will come.
- I learned that you cannot trust your income to tactics designed to fool Google into giving you a higher ranking that you deserve.
- I learned that ultimate success virtually always requires you to build a list.
- I learned that the best content is material you create and post yourself – that robot derived content is virtually worthless.
- I learned how to quickly install and correctly setup a WordPress site without spending weeks or months trying to make it perfect.
- I became very familiar with HTML, MySQL, PHPMyAdmin and WordPress – tools I need on a daily basis, and to a lesser extent, PHP and CSS.
All of these lessons came from successes, and more importantly, failures I’ve had over the years. Even my prior successes were ultimately failures – as I lost the income I’d developed due to rule changes… but all of these failures led to my current success.
I hope that the reason you don’t earn online currently is because you’re still learning through failures, and that you don’t get discouraged. It’s a learning process – and if you spend enough time, learn how to do things, you cannot help but be successful if your ultimate goal is to help other people.
So What Should You Do?
You didn’t think I’d leave you hanging, did you? I’m going to give you my personal opinion here… I’m very happy with my choice of building an Authority Blog, but I understand that this isn’t for everyone. So here’s my suggestions:
- Pick just one method of earning money online
- Learn everything you can learn by searching the net… be sure to search such goldmines as the Warrior Forum, as you’ll often find the best nuggets of information in forums.
- If you don’t have enough money to invest in your business, you’ll have to invest time. Set aside at least one hour every day to work on your dream – this does not include your forum & email reading… and reserve 4-6 hours on the weekend as well.
- If you can afford it, find a mentor who is already earning money using the method you’ve chosen… Mentoring is very difficult to find under $300-500 or so – but can jumpstart your online success if you can do this.
- Don’t shoot for perfection – it doesn’t have to be perfect – people don’t care as long as it answers or solves their problem. Working on a website until it’s “perfect” is a time-wasting job, trust me, I know!
- Outsource whenever you can… Fiver.com will save you lot’s of time on many web-related tasks… make use of them!
- No matter what method you chose, traffic will be your biggest problem, as well as your greatest asset when you learn how to drive traffic. Later, when you’re making a nice chunk of change, you can buy traffic with PPC, Banner, Facebook, or other paid methods – but to begin with, you’ll need to learn how to drive traffic.
- Probably most critical of all – don’t underestimate the amount of time it will take you to be successful. Unless you have a good deal of money to throw at an online business, you’ll have to do it the old-fashioned way, with lots of sweat equity.
If you follow these suggestions – and have a reasonable amount of patience and work ethic – you can’t help but succeed if you just remember the most important strategy of all – help other people.
What do you think?
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