People are flocking to the internet by the millions, seeking a way to make money online. Some are only looking to make extra money to help pay bills, provide for their children’s college, or supplement their retirement. Many are seeking to make enough money to quit their job and make a fulltime living from home.
While all these goals are certainly achievable online, you need to know the facts about making money online. Without knowing the facts, you will be victim to the myths and lies that are prevalent in this industry.
The Facts:
If you are new to internet marketing, full of hope and excitement, you may not want to hear this, but 95% of all internet marketers fail. Is it really that hard to make money online? No, but it’s not that easy either. The good news is that you can be part of the 5% that are successful.
But you need to know why 95% fail, and more importantly, you need to know what the other 5% do differently to succeed.
So why do 95% fail? Well, there are many reasons people fail online, but here are the top 3 in my mind:
Ignorance: People simply have no clue how to make money online. There is a huge learning curve in this industry.
Can you imagine what would happen if hospitals recruited surgeons off the street without experience? What would the mortality rate be? At least 95%! Starting an online business without knowing what you are doing is the same thing. Ok, so nobody looses their life from a failed business. But you could easily loose your life savings. You should make educating yourself in this industry one of your top priorities.
Lack of Driving Desire: Many people dream of the financial freedom they can have through their own online business.
But few are ready to make the commitment necessary to realize their dream. This business takes work. It is an emotional rollercoaster full of ups and downs. If you don’t have a real burning desire to drive you through the obstacles and challenges, you will not make it. Rate your desire to succeed from 1 to 10. If you’re not at least an 11, forget it.
Now I’m not trying to frighten you out of your dream, but you need to be honest with yourself. This is a great business. It not only rewards you with financial freedom, it really develops you personally as well. The best reward this business gives is the person you become in the process.
***** NOTE *****
This is taken from a very knowledgeable friend from InternetMarketingSingapore.com. He’s called Ben and he made over US$1million from eBay last year and you SHOULD be listening to him on internet marketing man!
Read his full post here!
http://www.internetmarketingsingapore.com/forums/resources-reviews/1698-can-you-really-make-money-online.html#post13496
I totally aggree that most marketers fail. They just too lazy and don’t want to do any research. They really think that making money is too easy and try very little. After that they get burned and start thinking that there is no money there. My advice is - work harder!
Hi Ramin,
thanks for dropping by.
disillusioned by the scammy & spammy products are sometimes at fault here.
which is why my mentor, Stuart and I and another colleague started this coaching program called the Internet Marketing Academy: http://www.imahub.com
It’s meant to build a solid foundation in Internet Marketing and be a competent internet marketer.
Working hard, in my opinion, just doesn’t cut it anymore, we need to work smarter also.
Cheers!
Ming
Ming,
You are right. No matter in what business it is, most would fail due to their lack of focus and most of all, commitment. And these are two of the few important elements they would need in order to make things happen.
But you know that statistically it’s good for you, right? Lesser competition.. You are so mean, man.. hehe
Good article, in summary, attributes required
1. hard working,
2. right business plan,
3. eager to learn new idea, technologies…
Agree, absolutely not an easy process.
I absolutely agree. I think there are more reasons why most people fail in their online business. But, your three points is enough. These systems cannot work well if not studied well. In order for a system to work, one must be familiar on how it works and choose which is the best way to do it.