Why Most Fail To Make Money Online & How To Avoid Being One Of Them

Unfortunately … most people who turn to the Internet to start a business will fail.

Sorry I hate to be the bearer of the cold hard truth but there it is.

It’s not surprising really as you have probably heard the stats often quoted that only 5% of business will succeed beyond the five year mark. These type of stats have been around for longer than Internet businesses.

You would think though that with the abundance of opportunity online today that the % of successful businesses would be higher.

When you think about it … we live in the time of the greatest opportunity in the history of the world. We are so blessed to be right here and now with a computer and an Internet connection. Practically any fool can start a global business that can potentially reach and serve millions of people and automate large parts of the business with a few clicks of a mouse and some well thought out strokes of the keyboard.

Plus … now you can outsource nearly everything you need to do to set up, launch, run and support the business.

Mindboggling!

The only real skill you need is the ability to think strategically, develop a plan and follow through on the plan

So why don’t more people create success online?

With so much opportunity how come so many wind up frustrated, cynical and in a worse financial position than when they started?

Well I think there are only a handful of reasons … or hurdles that stop people from reaching success.

Over the more than 10 years that I have been successfully earning a living online I have of course come across many people who have made a start, reached a sticking point and then quit.

Heck … at times I have done this myself.

So here are the key reasons I think most people will fail to make money online and what you can do to avoid being one of them:

1/ Not Treating It Like A Real Business
The first biggest mistake I see people make online is that they do not treat this as a real business.

For some reason people get online and think that somehow they are going to make bucket loads of cash for doing bugger all.

Too many people are looking for the magic button to push. And I guess part of the reason for this is unethical marketers use these sort of tactics and headlines to attract buyers to their products.

So let’s take a reality check here …

… building a successful online business is bloody hard work!

You either bite the bullet and get busy doing the work that’s required … or jump from one broken promise of quick riches to the next.

Best solution is to get busy doing the work … ie creating a blog, building a list, creating products, developing your sales funnel, building in automation, rinse and repeating.

It’s not rocket science but it is hard work.

2/ Focus, Commitment, Planning And Action
The next thing that holds too many people back is a lack of focus, commitment, planning and taking action.

I mentioned before that the only real skill you need is … ‘ the ability to think strategically, develop a plan and follow through on the plan’

That is it really … you don’t need to know how to set up a website, configure Aweber, create an ecover for your ebook or even write the ebook. Now it helps to know all of that … but it can all be outsourced.

All you really need to know is how to think strategically, develop a plan and follow through on the plan.

To do that it requires focus, commitment, planning and action.

Here is what I recommend:

* First decide on how much time you are going to invest in your online business each week. 10 hours, 20 … it doesn’t really matter just decide on a number
* Then grab your calendar and block out chunks of time through out the week until you have the number of hours allocated
* Then during those blocks of time all you are going to do is build your online business
* And you let nothing else distract you … no checking out posts on Facebook or watching funny videos on You Tube.
* Just focused work
* Set goals for your business for one year, 3 months and 1 month
* Then create a plan of all the things you need to do in the next month to reach your one month goals
* Then order the list of things you need to do
* Then start with the first thing on your list … and do it
* When it’s done check it off, pat yourself on the back and move onto the second thing on your list
* Repeat until all of the things on your list for the month are done or you reach your one month goals
* Then reset your goals for the next month

This takes focus and commitment to follow through on … but if you can discipline yourself then this is the key to moving forward and making progress

3/ Distractions & Bright Shiny Objects
The next thing that holds people back from building success online is the distractions.

It’s the bright shiny new object that everyone is talking about the distracts our focus away from the core fundamentals that account for most of our success.

You know what I am talking about right?

You check your email inbox and its full of emails from other Internet Marketers.

You notice that lots of them are promoting a new Facebook Fanpage technique for automatically extracting email addresses and putting them into a spreadsheet so you can upload it into Facebooks advertising system for more targeted promotion to sell more of your products. Plus there is a little known secret for getting 10 cent clicks.

You start salivating at the prospects. Everyone is promoting this so it must be good.

Maybe this is the thing you have been missing that if you could just get your hands on it you could finally start to make some money with it.

So excitedly you start to investigate it. Now don’t jump in to quick because all these different marketers are offering their own bonuses to make this thing fly even higher. So you spend hours deciding who to buy from so you get the best possible deal before making the plunge to invest the $27 plus upsells and downsells etc.

Excited you grab a beer so you can start going through this money making system.

After going through it all its now 1 am and you are getting tired, work tommorrow, so you tell yourself you will get back to starting with this to make money tommorrow.

Three days later you have forgotten you even purchased it because today everyone else is promoting some new Pinterest software … and the whole cycle starts again.

Okay … I know you have not done this but you probably know people who have right Damn … I have done it more times than I care to remember.

So you buy all this stuff you think you must have, that might be the key, and none of it makes any difference.

Why?

Simple … all of these things are the 1% of what it takes to be successful.

They are not the main game.

One of my early mentors Jim Rohn used to say ‘Usually about a half dozen things account for 80% of your success in anything’

And its true with Internet Marketing … so few people follow the half dozen things because they are distracted by the millions of bright shiny objects placed before them on a daily basis.

You need to break out of the cycle and focus on the half dozen things that will make the most difference to your success online.

I will share with you what these half dozen things are in a future article.

For now though … I would love to hear from you.

What has been your experiences online? What has held you back do you think from making money and reaching your goals?

If you have achieved some success … what do you think helped you get there?



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