Why Most People Fail To Make Money Online
When I look back at the live event I attended last month, I start to realize why most people don’t even come close to making a few hundred US$ per month. (I know it’s a small sum but that’s how most of us begin.)
In case you missed the updates on World Internet Mega Summit Singapore, here you go:
- What I Learnt From Mark Joyner & Jay Abraham
- What I Learnt From The Other Speakers
- Photos Of The Speakers & Friends
You would probably agree with me that marketing online is a REAL business, even though it can be done from home, without a single employee.
Doesn’t that make an online marketer an entrepreneur? Yes, I’m talking about you!
At the event, the speakers were treated like celebrities, people were crowding round & asking questions non-stop. Some questions that were being asked almost all the time were:
- is there a step-by-step, start-to-finish guide I can follow to get things started?
- does your method work for my particular market?
- what kind of business model should I follow?
- can I really make money online?
Here are your answers from my past experience & personal observation…..
- is there a step-by-step, start-to-finish guide I can follow to get things started?
Thank God that there’s no such thing! If there was such a guide, everyone would be able to follow it & everyone would become millionaires.
Hey, you’re an entrepreneur, everyone has his or her unique way of getting things done, how can anyone write such a guide for you? You could write it yourself but it probably will only work for you! You’re unique!
- does your method work for my particular market?
Go test it for yourself! How would you know if you don’t even test?
- what kind of business model should I follow?
This sounds like an employee asking for instructions on what to do on the job! I’m gonna remind you again that you’re an entrepreneur, you’ve gotta be independent. There are probably no fixed rules for you & you make up your own instructions as you go along.
- can I really make money online?
Yes, many people have done it & so can you. If you don’t even believe you can make money online, just forget it.
Information Overload (a.k.a Digital Disease Without Cure)
There’s no cure, my friend! But it can be controlled!
Most people when they first start out, they suffer from information overload, so did I. Everyday you get emails telling you 101 different ways to make money online.
It’s nice to know that there’s no end of opportunities to make money online.
The real problem comes in when you realized that you’re totally overloaded with choices! (Eg. AdSense, AdWords, Affiliate Marketing, MLM, Information Products, Cost Per Action, Auction Ads, SEO, Black Hat Tools, Bum Marketing, etc)
Pick something that you like & learn one thing at a time.
Too Many Experts, Gurus, Anti-Gurus, etc
There are also more & more “experts” coming up, promising you easy riches with little or no work! Sorry, it doesn’t happen that way!
We listen to way too many experts & got confused, we keep trying to follow other people’s business models instead of coming up with our own unique way, we also fall into the trap of buying way too many new courses or software.
Here’s a harsh reality - when you’re reading or learning a new software, you’re not making any money! Most of the times you learn much more than you can implement, you buy more software than you can use.
You’ve gotta focus on a few basic stuff….. (ya, boring, non-sexy, plain stuff that makes you money)
- who do your serve? (your audience, your market)
- where are you gonna find these people? where do they hang out? (traffic sources)
- what are you gonna offer them? (what will they buy)
- what else you can do to make money? (what value can you offer that they’ll be more than willing to pay)
Another thing that I discovered is that you’ve got to mix & match different types of traffic, content, conversion strategies.
- One expert says, “use squeeze pages”, another says, “Google slaps all squeeze pages”.
- Some say, “sales pages are dead”, some say, “no”.
- Some say, “buy as much traffic as you can”, some say “why buy traffic when you can get them free”.
Who are you gonna listen to? Hope I’m not confusing you by saying all that!
Examples of what I mean by mixing & matching is….. (Something for you to ponder about)
- Some people give the impression that you can bookmark only blog posts, not true, you can even bookmark sales letters & squeeze pages.
- Tag & ping sounds easy right? Have you thought about your audience? If they’re not that savy online, do you think they’ll use social bookmarking services?
- Google slapped you? You used to send traffic to squeeze pages with AdWords, now they’ve increased your bid price! Have you tried sending traffic directly to your sales page?
- You’ve got a few profitable campaigns on AdWords, did you move them over to Yahoo Search Marketing & MSN AdCenter? Or even other smaller ppc engines?
- Some blog posts get you lots of comments, many clicks on your affiliate links & a decent amount of affiliate sales. Since these type of content get you sales, are you writing more of such content?
- What do you put on your download page after someone ordered something for you? Have you tested different backend offers?
- Look at your stats, which sites gets you the most traffic?
- Look at your tracking software, which sites refer you the most sales? Which keywords converted the most for you?
Guess it’s a long list for you to think about. Feel free to drop a comment & let me know what you think.
May You Prosper & Be In Health,
P.S. Here's how you can have money-making blogs, quickly & easily.....
4 Responses to “Why Most People Fail To Make Money Online”
Hi, thanks for all these great hints and tips, I think all good internet marketers say almost the same thing though. I have tried many different gurus and all, Jay Abraham is someone I really respect. Keep up the good work, Samuel.
Hi, I totally agree. Everyone call themselves experts nowadays.
Hi Rajeev, I agree with you, I also respect Jay Abraham a lot, even though I know that he has been sharing the idea for more than 20 years
Thanks for the compliments. If you like my content, do subscribe to my RSS feeds.
Hi Gavin, some people call themselves an “expert” after reading 3 - 5 books on a topic. Just imagine, how can one person become a swimming coach after reading a few books on swimming but has never gone into the water before! Totally outrageous!
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