How long do you think it will take to earn $1K, $5K and $10K per month?

9 years ago

One of the main points is taking action. Many people simply don't, or stop when they hit a roadblock. Success in this business comes from knowing that setbacks are coming, but not to be defeated by them and press through them.

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AlexGoodall 9 years ago

Originally Posted by yragcom1

Success in this business comes from knowing that setbacks are coming, but not to be defeated by them and press through them.

"Continuing despite setbacks" - an obvious one that I missed!

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Alex
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Steve B

9 years ago

Originally Posted by AlexGoodall

My question is - WHAT does it depend on?

It depends upon many variables including the market you are in, the skill sets you bring to the table, your experience and ability to analyze markets, the timing and current economic environment, the audience that you're targeting, your ability to drive very rabid buyers to your offer, the sales copy in your ads, the level of trust you can muster in your prospects, the value of the proposition that you're making, the selling system you have in place . . . and that's just the first few variables.

How in the world is anyone going to be able to tell you how long it takes until you make X amount of money? They can't. It's a guessing game and it's not worth speculating about it.

Steve

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AlexGoodall

9 years ago

Originally Posted by Steve B

It depends upon many variables including the market you are in, the skill sets you bring to the table, your experience and ability to analyze markets, the timing and current economic environment, the audience that you're targeting, your ability to drive very rabid buyers to your offer, the sales copy in your ads, the level of trust you can muster in your prospects, the value of the proposition that you're making, the selling system you have in place . . . and that's just the first few variables.

How in the world is anyone going to be able to tell you how long it takes until you make X amount of money? They can't. It's a guessing game and it's not worth speculating about it.

Steve

Making that level of income in online marketing is not so dependent on the economic environment, and many of those variables are pre-defined.

I agree it's impossible to be specific, but by going through a semi-serious assessment process, people will be made to think about what the important factors are.

And there are some factors which are so important that, unless they score highly on all of them, the result is "probably never".

Also, I include a "confidence level" to indicate the level of confidence in the result. The confidence level" depends on some of the factors, and in any case can never be close to 100%!

Alex

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kilgore

9 years ago

Originally Posted by AlexGoodall

Making that level of income in online marketing is not so dependent on the economic environment, and many of those variables are pre-defined.

I agree it's impossible to be specific, but by going through a semi-serious assessment process, people will be made to think about what the important factors are.

And there are some factors which are so important that, unless they score highly on all of them, the result is "probably never".

Also, I include a "confidence level" to indicate the level of confidence in the result. The confidence level" depends on some of the factors, and in any case can never be close to 100%!

Alex

Why would an online business not be dependent on the economic environment? Every single other business is. What's more different types of online businesses might do better or worse in different types of business environments (just like offline businesesses!) For instance, someone peddling "Get Rich Quick" IM schemes might do better during an economic recession as there are more people looking for work and thus needing to make money, whereas someone targeting hobbyists might see their income decline during the exact same period. Regardless, to say that your income isn't in any way dependent on the economic environment is plain silly.

And as to variables being pre-defined, isn't that part of the point? After all some people just bring more to the table than others whether it's skills, talent, work ethic or creativity. For instance, before starting my online business I had over 15 years web development/DevOps experience and my partner had a similar amount of experience doing online marketing and project management. Both of us also had professional degrees in management. Is that not relevant to the calculation? Or do we just assume that some 18-year-old fresh out of high school or some 75-year-old who's looking for a new career after spending his life as a construction worker is going to have the same income trajectory?

And that's just one variable -- and one of the easier to quantify at that. What about something like creativity, which vanillawoods rightly identifies as probably the most important determinant of online success?

Yours is an interesting idea, to be sure, but I think it's frought with problems as it reduces success in online business to a bunch of quantifiable factors and steps that a would-be entrepreneur can check off. The problem is that when it comes to any business -- online or offline -- it's more often than not the non-quantifiable and intangible factors that have the greatest impact on success and thus any system like yours is destined to be counterproductive as it diverts the entrepreneur's focus to the wrong things.

Unfortunately Steve -- who I should add has years of professional experience working to support and advise real small businesses -- is absolutely right: It's a guessing game and it's not worth speculating about it.

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Barry Unruh

9 years ago

and don't forget to ask..

How much time and MONEY can you invest in building your business?

Someone who can devote 8 hours per day and a few thousand dollars can make things happen much faster than the person who has 1 hour per day and no budget.

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AlexGoodall

9 years ago

Originally Posted by Barry Unruh

and don't forget to ask..

How much time and MONEY can you invest in building your business?

Someone who can devote 8 hours per day and a few thousand dollars can make things happen much faster than the person who has 1 hour per day and no budget.

Yep, got that - that's certainly important.

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vanillawoods 9 years ago

What you have to realize is that Internet Marketing is dynamic it's not static.

It's like putting 2+2 together to make 4. Then 'creating' something that makes sense.

Out of thin air.

When you are creative like this the sky is the limit on your income.

It is the creativity that will make you money, not following a 1-2-3 step by step system -
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- AlexGoodall 9 years ago
  
  Originally Posted by vanillawoods
  
  It is the creativity that will make you money, not following a 1-2-3 step by step system -
  
  Well, I agree that the concept of a step-by-step system that you can follow and make money fromwithout any experience is a myth - and that's something I teach.
  
  But not because you need to include creativity, but because you need to include judgement at some of the steps - and making the right judgement can only come from experience.
  
  Not that you can't make very good money by being creative and doing things differently - it's just more risky because it's unproven.
  
  Alex
  
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Tyler Pratt

9 years ago

It depends on the amount of time you can put into learning. Then acting on what you learned.

It also depends on your level of learn and then do what is learned.

Some people it takes loner for them to see the big picture inside of network marketing.

It took me years to really grasp the whole "tripwire" marketing concept. And once I did, well my income took off.

But for some understanding the tripwire would take only a few days.

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AlexGoodall

9 years ago

Originally Posted by Tyler Pratt

It took me years to really grasp the whole "tripwire" marketing concept. And once I did, well my income took off.

But for some understanding the tripwire would take only a few days.

That's interesting, Tyler.

Could you explain a bit what you mean by the "tripwire" marketing concept.

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talfighel

9 years ago

It is possible to create a $5,000+ income per month for someone new.

Here's what they need:

1. Their own website.
2. Since they are new, they need to know that it will take money to make money. They have to be ready to invest money every single day.
3. An Affiliate offer that can earn them between $100-$1,000 per sale.
4. A business owner MINDSET.
5. Make a strong commitment to never giving up no matter what.

Once they have all 5, they can make $5,000+ very fast.

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Joan Altz

9 years ago

A lot of the timescale for "how long" has to do with the same variables as running a typical business. Most business start-ups fail, and most newbies to IM fail also for the same reasons:

1. Lack of proper mindset (that would include the ability to adapt to sudden changes in the marketplace and the willingness to adapt)

2. Lack of money

3. Lack of experience (over time you develop an "eye" for what will work and what won't, saving you time)

4. Lack of commitment (people who want to get into IM for the purpose of quitting their jobs, for example, already have a "quitter" mentality coming in - maybe this would be filed under proper mindset, but I see it as a lack of commitment to what they have going on now; also people who typically quit anything easily - diets, relationships, school...)

5. Lack of education (you can always learn, but if you really don't know what 1+1 equals or how to comprehend what you read, it's going to take awhile. Included with this should be the big one: Parental education - direct lesson and by example - what did your parents teach you?).

6. Lack of focus (starts many projects, finishes none of them. Distractions of kids, dogs, the news, who dies on The Walking Dead, the weather, makes them procrastinate)

7. Lack of time

8. Lack of good decision-making skills (how many stupid decisions do they make in any given week, month, year? Do they repeatedly make the same mistakes? A dummy is a dummy - not much you can do for them)

9. Lack of motivation (generally lazy, perhaps despondent, won't mow the lawn when it needs it, rarely cooks their own meals [microwave oven/fast food dependent], doesn't clean up after themselves)

10. Lack of good health

I don't think lack of confidence fits independently. It's more of a derived symptom from some of the others.

But I composed this off the top of my head, so it's rough draft. If I thought about it more, I might change some things or add to them.

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How long do you think it will take to earn $1K, $5K and $10K per month?

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