Is Making Money Online is in a BOOM? & Why 98% Will Fail...

14 years ago

I hope whomever created that chart doesn't trade stocks. That's some terrible technical analysis.

I'm sure you're correct that more people search for alternative ways to make money when the economy is bad and unemployment is through the roof, but that chart is worthless.

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Michael Oksa

14 years ago

While I appreciate your efforts here, Chris, I think there is a major flaw here.

And that is...

The Internet is too new in popular culture to make any kind of meaningful analysis. Looking at the trend for stocks, you will see two major sections (the 2nd starts in early 2008). However the line for making money online has seen steady growth the entire time.

I think there are a few reasons why the red line is going up. These include: more people going online, more people realizing online money making is an option, news outlets covering stories of people working online.

Now, that doesn't mean your conclusion is wrong. It just means we don't really have enough long-term data to draw an accurate conclusion, one way or the other, at this point.

That being said, I DO think you're general theory is sound. When stocks suffer, or unemployment go up, people are more likely to find other ways to augment their income. The Internet is one way to do that in today's world.

All the best,
Michael

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Chris Munch

14 years ago

I think there are a few reasons why the red line is going up. These include: more people going online, more people realizing online money making is an option, news outlets covering stories of people working online.

Yes this is very true. It is a growth industry so it will always lean towards growth.

Consider the following...

1. News media coverage has increased, but the media tends to produce content that the public is interested. So rather than driving interest it is responding to it.

2. Look at the data going back to 2004...
Google Insights for Search

The growth in interest in making money online acceleratedonce stocks started to top in 2007 (real estate topped about a year earlier).

The peak in interest occurred shortly after stocks bottomed in March 2009.

The graph in the original post also shows that a lot of peaks and trophs in demand occur with peaks and trophs in the stock market.

I hope whomever created that chart doesn't trade stocks. That's some terrible technical analysis.

I certainly agree that it is nowhere near conclusive. The graphs show there is certainly potential for a link herel, which obviously makes sense given that more people would look to make money online in a poor economy when jobs are less available.

Its not technical analysis, more of an indication that a link potentially exists.

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Michael Oksa

14 years ago

Originally Posted by ChrisTew

Yes this is very true. It is a growth industry so it will always lean towards growth.

Consider the following...

1. News media coverage has increased, but the media tends to produce content that the public is interested. So rather than driving interest it is responding to it.

But, it does BOTH at the same time. While it may be responding in one regard, many people in the audience will become interested, thereby contributing to that interest.

2. Look at the data going back to 2004...
Google Insights for Search

The growth in interest in making money online acceleratedonce stocks started to top in 2007 (real estate topped about a year earlier).

The peak in interest occurred shortly after stocks bottomed in March 2009.

I see the same general thing in the other graph. It is a more steady growth, even going back to 2004.

The graph in the original post also shows that a lot of peaks and trophs in demand occur with peaks and trophs in the stock market.

Its not technical analysis, more of an indication that a link potentially exists.

The graph also shows a few points where the peaks and troughs match.

There are just too many other variables at play to make a sound conclusion. Again, that doesn't mean you're wrong. And it does make sense that if people are losing money that they would turn to other resorces, and the Internet is one such resource.

It's not so much a question of what the lines on the chart show, but rather a question of whether or not they really mean anything. Give it another 20 years to see if the correlation exists. As I've said, it may already exist, and there are indicators that it does.

What it comes down to, for me, is that there is enough interest in the topic to make it a worthwhile niche to be involved in - no matter how the stock market or economy are doing at any given moment.

All the best,
Michael

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Chris Munch

14 years ago

Originally Posted by Michael Oksa

What it comes down to, for me, is that there is enough interest in the topic to make it a worthwhile niche to be involved in - no matter how the stock market or economy are doing at any given moment.

Over the past few years times have changed very rapidly, so what is happening at any given moment might not be happening in a couple of years.

So I think it is worthwhile to be able to anticipate and quickly react to changes so that you can best serve your audience and time actions for your business.

The companies booming at the moment have done this very well (or by chance stumbled upon growing trends).

You can use Google trends and trends in the economy and stock market to anticipate growing and declining niches. Couple that with some niche industry knowledge and it can open you up to a lot of low competition niches that are about to boom.

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Steve Peters Benn

14 years ago

Originally Posted by ChrisTew

Yes this is very true. It is a growth industry so it will always lean towards growth.

Consider the following...

1. News media coverage has increased, but the media tends to produce content that the public is interested. So rather than driving interest it is responding to it.

2. Look at the data going back to 2004...
Google Insights for Search

The growth in interest in making money online acceleratedonce stocks started to top in 2007 (real estate topped about a year earlier).

The peak in interest occurred shortly after stocks bottomed in March 2009.

The graph in the original post also shows that a lot of peaks and trophs in demand occur with peaks and trophs in the stock market.

I certainly agree that it is nowhere near conclusive. The graphs show there is certainly potential for a link herel, which obviously makes sense given that more people would look to make money online in a poor economy when jobs are less available.

Its not technical analysis, more of an indication that a link potentially exists.

That is a weak link, one that there, but I think we kinda know that?

"OMG! Bill lost his job"
"Yeah?"
"Yeah, now he is looking for ways to make money online"

That's about the level of my analysis. Drawing on charts is fun too though

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King Shiloh

Banned 14 years ago

So, you are telling me that this is the reason why someone that has never made a dime online should put a screamer headline in his sig file:

Make $$$$$$ Online within 24 Hours Using A Simple and Proven Method.

Really, it beats my imagination. Can you really give what you don't have because people are looking for it?

Go figure out a suitable answer.

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tonis 14 years ago

I second the post by King Shiloh.

And 98% people DON'T FAIL they quit!

Most people think that making money online is EASY, maybe because it is advertised exactly this way. By using these titles and other methods:
Make $$$$$$ Online within 24 Hours Using A Simple and Proven Method.

And when people find out that making money is really a lot of work and time consuming then they quit! People want things handed to them they want an easy life etc...

So what i wanted to say is that people don't fail they QUIT!
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osamabindrinking

14 years ago

Just my 2 cents... most newbies here tales of 100k per month or more and wonder why they aren't earning that after a few months so they quit, if you have a full time job at mcburger how can you devote time to your project? and the only people I believe making 100k pm are super affiliates selling/recommending products to newbies, and its a clique (you know who you are)

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tonis

14 years ago

This is exactly why they quit. People who are making 100+k a month are mostly those who sell products to marketers and newbies promising them a lot of money in no time at all... I Have personally bought products from Mike Dillard and Jonathan Budd, Mike Filsaime etc.. and really taken their courses to pieces, and my honest opinion is that you can find the same things for FREE online if you really but your mind into it!
Example Magnetic sponsoring Ebook is all about promoting the book itself. Yes it has some encouraging text in it. But the core of the book was "You can make a lot of money by selling this book", And maybe the REAL information was in the upsells he offered don't know never bought those books, because i was really disappointed from the first book i bought.

PS: I'm not saying that they don't offer value(Maybe they offer value in the books they sell you after you bought the first book). What i wrote here is my personal opinion!

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EvolBaby

14 years ago

Originally Posted by tonis

This is exactly why they quit. People who are making 100+k a month are mostly those who sell products to marketers and newbies promising them a lot of money in no time at all... I Have personally bought products from Mike Dillard and Jonathan Budd, Mike Filsaime etc.. and really taken their courses to pieces, and my honest opinion is that you can find the same things for FREE online if you really but your mind into it!
Example Magnetic sponsoring Ebook is all about promoting the book itself. Yes it has some encouraging text in it. But the core of the book was "You can make a lot of money by selling this book", And maybe the REAL information was in the upsells he offered don't know never bought those books, because i was really disappointed from the first book i bought.

PS: I'm not saying that they don't offer value(Maybe they offer value in the books they sell you after you bought the first book). What i wrote here is my personal opinion!

The Fonz once said "Bull makes the world go 'round.".

You can make all sorts of outlandish claims in advertising. You lie and it is considered a danger to the public or outright fraud you end up broke or in prison. If you have alot of money you just get fined.

Bull**** is the fertilizer of our economy globally. That's why the majority of politicians are lawyers. The average guy wouldn't stand a chance in court doing what lawyers do.

When it comes to marketing the big money is selling marketing to people who believe marketing is going to make them money. It's called in law circles as "feeding sheep the fleece" meaning if the public is hungry, feed them what they produce and charge the hell out of them.

That's why I stayed out of IM because it was so full of more crap than a constipated elephant and there's still a major part of the industry that is still that way. Not enough cops to police them 'but' the government is aware of this and are empowering more of the public to hunt these creeps down and make BIG money burning them in courts.

When you have 60 million cops, there's nowhere to hide.

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l_christopher

14 years ago

tonis,

You're right as well. What people just don't seem to get (as I believe it was said earlier) is that it takes WORK.

You can make money online. I've done it...but you have to work. I think it takes a little but of time for people to kick start themselves. And the people that can't and need someone else to motivate them get jobs.

The economy is kind of shot here stateside lol. I meet people starting to do Avon, throwing parties, and everything else in-between. Hearing about bloggers that make all this money and become pseudo-celebrities doesn't help either.

In short Chris....I agree.

I like the technical analysis, but you probably could've got away with just the logic of it

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vok

14 years ago

I think affiliate marketing will collapse under it's own weight, which is why I'm looking for an alternative industry so I'm not on the boat while it's sinking.

Noobs are diluting it even more every day. It's like a disease and it's only way to stay alive is to recruit and spead, I can think of another industry that follows the same patten you know what it is, a pyramid scheme.

1 person makes a "make money online" product teaching 100 people to make a product of how to make money online

100 people make a "make money online" product teaching 10,000 people to make a product of how to make money online

10,000 people make a "make money online" product teaching 1,000,000 people to make a product of how to make money online

1,000,000 people make a "make money online" product teaching 100,000,000 people to make a product of how to make money online

100,000,000 people make a "make money online" product teaching 10,000,000,000 people to make a product of how to make money online

10,000,000,000 <-- more than the worlds population

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DogScout

14 years ago

Originally Posted by chriswick

I think affiliate marketing will collapse under it's own weight, which is why I'm looking for an alternative industry so I'm not on the boat while it's sinking.

Noobs are diluting it even more every day. It's like a disease and it's only way to stay alive is to recruit and spead, I can think of another industry that follows the same patten you know what it is, a pyramid scheme.

1 person makes a "make money online" product teaching 100 people to make a product of how to make money online

100 people make a "make money online" product teaching 10,000 people to make a product of how to make money online

10,000 people make a "make money online" product teaching 1,000,000 people to make a product of how to make money online

10,000 people make a "make money online" product teaching 1,000,000 people to make a product of how to make money online

100,000,000 people make a "make money online" product teaching 10,000,000,000 people to make a product of how to make money online

10,000,000,000 <-- more than the world population

You forget, maybe 1% will act on the 1st product. Some take 10-20 products before they act. Some never act. Things change and new methods need to be taught to currently successful IMers. Not to mention the 'MMO' niche is but one of millions.

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vok

14 years ago

Originally Posted by DogScout

You forget, maybe 1% will act on the 1st product. Some take 10-20 products before they act. Some never act. Things change and new methods need to be taught to currently successful IMers. Not to mention the 'MMO' niche is but one of millions.

Yeah of course that was just an example less than less than 50% of the people that buy those products will take action and less than 1% of the people who buy the product will be successful but it still shows you that there will always be more losers in this industry than winners it's a proven fact affiliate networks will tell you 95% of the people who ever sign up make nothing.

The noobs that do take action are still diluting and every time another person is trying to make money in this game if they are profitable they're talking someone elses profit. They maybe new but they have access to the same tools and information as you do, the only unfair advantage you may have is experience.

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Chris Munch

14 years ago

Originally Posted by chriswick

The noobs that do take action are still diluting and every time another person is trying to make money in this game if they are profitable they're talking someone elses profit. They maybe new but they have access to the same tools and information as you do, the only unfair advantage you may have is experience.

That's just competition, it exists in every industry and is not just restricted to IM. It doesn't matter what business you are in there will always be new competitors entering the market and trying to dilute your market share.

If you want to keep making money then you need to leverage your existing network, provide more value than anyone else, and that in itself creates a strong barrier to entry for anyone trying to copy you.

If anything those already making money in the IM world is really helped out by all the so-called gurus and Make Money Online scammers as it is building up making money online to be a myth or a scam, and those that do buy into the idea get burned pretty quickly and demotivated, or sent round in circles form one IM get rich quick scheme to another.

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mark587905

14 years ago

The historical data is just not there for this kind af analysis.

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tribros

14 years ago

YES, MMO industry is booming and it will boom more in the coming days and years to come as more and more people comes online. People will always look for the alternative income source and they surely will end up on IM. 98% people will loose money and only the few of those who are lucky, well disciplined, patient and hard working will earn a fortune.

MMO is here to stay for long years and so are the 98% peoples who surely fails.

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JaisonG

13 years ago

The reason I find that this is so interesting is because early on even when the stock market was doing okay, people still wanted to get into the market

Trust me, Internet Marketing is something that alot of people look into because it gives them a sense of relief!

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travlinguy

13 years ago

Many of your points are greatly flawed. The swinging sixties? A boom time? Hardly. Much of that decade was an economic hangover from the real boom of the 1950s where prosperity was flourishing after World War II. The sixties were a time of turbulence and trouble punctuated with some partying.

The conclusions you draw from your graph are also way off. You've taken random and pretty much irrelevant stuff like horror movies and fashion and tied it to a rising interest in IM and the stock market. Okay, if you say so.

One thing you do have right is pretty much obvious to anyone with their eyes open. That is, people look for alternative methods of earning money during down times. There is no need for charts or graphs to know people are hurting. There is no need to make a formal study of the reality of the rising costs of food and gasoline. And despite what the harlots on both sides of the fence in our government say, unemployment is at record levels and getting worse all the time. Consequently, people gravitate to other opportunities.

And the reason so many fail online is because they believe it's easy to make a fortune marketing on the Internet. They don't realize it takes work to succeed. They read a story about some 13 year old kid who somehow managed to pull down a million selling video game cheats and come to the conclusion it must be easy. There's a trend you might want to look at. The rising gullibility trend...

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Chris Munch

13 years ago

You've taken random and pretty much irrelevant stuff like horror movies and fashion and tied it to a rising interest in IM and the stock market. Okay, if you say so.

Its not random. In fact it is very calculated. The link is simple --- people's general mood shifts from positive to negative, and the expresses itself in fashion, media and many other actions.

Take a stock market graph of the last 100 years and without knowing nothing about history you could point out when
- when skirts were shortest (peaks)
- when horror movies were popular (busts)
- when wars took place (just after a crash)
- when people got angry with authority (during and after a crash)
- when incumbants were revoted in (upward trends)
- when people were angry at corporitism (busts)

The list goes on and on. It is all linked together in a very complex way that is at the forefront of current social science, something only just beginning to be understood.

The stock market forms a road map of how people are feeling at a given point in time, and if you look you will find strong trends which you can use in your business.

I'm not saying the trend I have provided is proven or statistically robust, just that it makes sense form a common sense point of view, and it looks plausible, so worth keeping an eye on. Combine it with the past proof of how people react in such times, and apply it to the current climate and how it might unfold and you can accurately predict people's behavior, such as a boom in popularity of a certain salty site run by a droid.

I've been able to predict growths and declines in various niches using this method, and how that niche may change if the stock market goes up, down or sideways, and its very effective.

As for the 60s not being a boom time, look at the data. You are right, it wasn't as boomful as the 50s, and that is exactly how a bubble unfolds - economy still grows, but weaker than the previous boom, but people feel way more optimistic about it, and buy into it despite it not being as strong. An example being the 90s compared to the 80s, and 2004-2007 compared to the 90s.

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