EPP 036: How I Killed My Online Business And How You Can Avoid Making The Same Mistakes

In this episode of Extra Paycheck Podcast I talk about the crucial importance of diversifying your business.

Today’s podcast episode is very special because it’s mainly a personal story from me. More precisely, it’s a a story of how my online business failed on more than one occasion.

Let’s admit it, failure is hard to take. It’s something that we fear greatly and try to avoid at all cost. In fact, we try to avoid failure so much that we often stop ourselves from starting a new project, a new website, a new business, from moving to a new home, from meeting a person, etc. However, failure is unavoidable and the faster you fail the better… because you can get up, understand what happened and try to succeed the next time.

I have been self employed (or an entrepreneur) for the past 8+ years. It all started with a simple idea of making some extra money online. In a relatively short time frame I started making a decent amount of money (at least by my standards) and I thought I got this whole business game figured out. Unfortunately the business went down crumbling faster than Titanic and I was forced to start from scratch… although I must admit that second time around I had a lot of knowledge, experience and some idea. So I started building everything back up only to lose it all again because of my negligence and, in a way, laziness.

It took me a few tries to really understand what I did wrong and how I could have prevented it.  Failure scared me enough to stop trying to succeed online and sent me into a new venture of offering marketing services (such as website design, SEO, blogging) to local businesses… but I still ended up crawling back to online marketing. I am passionate about it most of the time and I feel like if I had to chose a single line of “work” for the rest of my life, it would be somehow related to online business.

Anyway, I shouldn’t spoil this week’s Extra Paycheck episode so scroll up and press that PLAY button. I would also love to read your thoughts in the comment section below 😉

Resources

In today’s episode I mentioned that in 2007 I signed up to online marketing training program. I am still an active member of that platform and that community and you can check out my full review here.

You can subscribe to the Extra Paycheck podcast and review it on iTunes.

You can also follow me Extra Paycheck on Facebook

If you do have any comments or question, please do use the comment form below!

– Alex