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Earning $50,000 per month from the comfort of your home might seem like a dream to most. However for a selected few it’s actually daily life. So why do some online marketers succeed but most fail miserably?
If you are just starting your online ventures you are probably already lost. You hear about setting up WordPress on a hosting plan, using an autoresponder, figuring out a proper SEO strategy, finding a good niche, building quality content, etc. You have never heard most of these words – let alone understanding what to do and how to do it.
I know this because I went through the same problems in 2007, when I was just starting to learn the basics of IM (Internet Marketing). I was completely overwhelmed with all the new information. I was lucky enough to stumble upon Wealthy Affiliate Business Community. They had everything laid out, step-by step. Their training and support helped me staying focused instead of being lost.
I would say that 9 out of 10 beginner marketers fail at this stage – before they actually start doing anything. Proper guidance is important.
Lack Of Persistence
If I learned something over the years – it’s the importance of being persistent. Online business isn’t much different from a typical offline business. It takes time to see the results.
Lots of people in the online world “quit” their business after a month of “trying”… “I have been at it for a full month and I haven’t made any money, it doesn’t work”. When you actually ask that person to describe what they did in that month you’d often realize they haven’t done much. They probably set up a one page site and published half a post on it. This is when they expect to earn $1,000 per day, just by looking at their screen. Sorry, it’s not going to happen.
I really don’t understand why folks treat business in such way. When a baby tries to walk but falls – that baby doesn’t say: “Screw that, I tried and it didn’t work”. When you go to school and start learning how to read, you don’t say: “I have spent a full month at school and I still can’t read properly. Reading doesn’t work”. No! You try and try and try until you see progress and success. Most times it takes years to learn a skill or become good at something. The same rule applies to business.
You don’t expect to see instant results in other aspects of your life. Approach online business with that thought. Don’t give up until you start seeing the results.
Looking for Perfection
Being a perfectionist might be considered as a quality in certain cases however it will destroy you if you are just starting up. I have seen way too many people consuming the information for 2-3 months, trying to figure out the perfect plan of action. Here is an eye-opener: There is no such thing as “perfection”. You will never learn EVERYTHING there is to learn. This is exactly why you should start building your business from the day 1.
Unfortunately I don’t remember who said this but I love this phrase: “Ready. Fire! Aim.” You need to start taking action as soon as possible and only then you should start thinking about “aiming”, perfecting your work. Do not waste time trying to build a perfect website. Just pick a theme, put it out there and concentrate on creating good content for that site. Once your website starts being active – this is when you can spend a little extra time making it look better.
I must admit that I still do this sometimes. Whenever I try to get into a new niche I tend to make sure that my website is perfect before I launch it. Now that I think about it, I don’t really care for “perfection”, I just use it as an excuse for my lack of motivation. This is when many of us waste our valuable time on unimportant things instead of taking action and building a business.
Don’t repeat my mistakes. Ready. Fire. Aim.
Being a Master of Nothing
The Pareto principle states that 80% of the effects come from 20% of the causes. In our case it means that 80% of our income comes from 20% of our efforts. This is why you should concentrate on the 20% of your work that brings most of the results. The other 80% of work that brings 20% of the results can be outsourced.
Most Internet Marketers are the jacks of all trades. We can build a website and edit it, we can do search engine optimization, we can create amazing content and share it on our favourite social platforms. However, if we do it this way we’ll always be mediocre at everything instead of becoming great at 1 thing. I highly recommend concentrating on just a few aspects of your business and paying someone (who’s better than you) to do the other things.
For example, whenever I need to edit my WordPress theme, I do not start learning how CSS works. I simply go to the support forums and I always get my answer instantly (or almost). This only costs me $40 per year. Well worth it.
You can get amazing graphics, videos, music and a lot more for as low as $5 on Fiverr. If you spend 5 hours trying to create a perfect banner for your site – you are paying yourself $1-$2 per hour (because that’s what you’ll pay someone to make that banner for you). Is your time that cheap?
Fear of Failure.
This is a big one for most people. We are all scared to fail but this fear prevents us from succeeding.
Success represents the 1% of your work which results from the 99% that is called failure.
I didn’t come up with that, it’s a quote from Soichiro Honda. You may not know but Honda was turned down at a job interview at Toyota which felt like a big failure to him. This is when he started making Honda motorcycles; you know the rest of this story.
I have built dozens of websites that failed. But I didn’t give up, I would make more websites and try out other niches. Sure, most failed but the few that succeeded made a nice chunk of money. Some of them have been making money on “autopilot” for the past 6 years.
Remember, the faster you fail (and you will), the faster you can move on to success.
It might sound very cliché but I must say this: Never give up. Keep taking massive action and you will see the results.
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