You're going to fail if...

16 replies
Who are the people that are most likely to fail in IM?

If you believe the hype, it seems like anyone with a credit card to buy a WSO can become an internet millionaire. Unfortunately, reality is a little different. I've read estimates that the failure rate in IM is 95% or more -- estimates that are probably completely made up, but that sound plausible to me nevertheless.

If you believe the hype, it seems like anyone who works hard, stays motivated, "takes action", (and of course buys the right WSO) will become an internet millionaire. But let's face it, people have different skills, abilities, interests, work ethics and resources that they bring to any undertaking, IM included. I can work as hard as I want to, stay as motivated as is humanly possible, take all the action I want, and even hire a great coach or buy fantastic books on the subject, but I'll never, ever be able to dunk a basketball. With practice, I might learn to jump higher and I might get closer and closer -- but I'll never have what it takes to rise above the rim. Likewise, it seems to me that there are people who will never succeed in IM -- no matter how hard they work, how motivated they are, how much action they take or how much they learn or know about theory.

Obviously none of the above describes anyone on this forum So let's talk about other people. Who are the kinds of people that are most likely to fail in IM? Are they people without certain skills? Are they people without money or other resources? People who lack motivation? Or just people who don't buy the right WSO (namely yours) or hire the right coach (namely you)?

Or maybe you believe the hype...
#fail
  • Profile picture of the author Tom Addams
    You're going to fail if...

    - You have a low IQ;
    - You're lazy.

    There are many useful prerequisites to being successful in IM, but if you're smart and hard-working, you can make it. I've seen it time and time again over the last 2 decades.
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    • Profile picture of the author HostZealot
      Originally Posted by Get Rich Methods View Post

      You're going to fail if...

      - You have a low IQ;
      - You're lazy.

      There are many useful prerequisites to being successful in IM, but if you're smart and hard-working, you can make it. I've seen it time and time again over the last 2 decades.
      Pure gold it is. Be persistent, and a true Jedi master will become you, young padawan. Just don't get spoiled by the dark side - when money begin to flow in it's time to double your efforts, not to kick back and relax
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      • Profile picture of the author Barry Cross
        you get distracted easily, don't take daily consistent long term action, sign up to too many lists, don't find a successful mentor & are impatient.

        Cheers
        Barry
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    • Profile picture of the author Steve B
      Even though no one knows, or can know, the exact small business failure rate, I think the number quoted is probably as good as any I have seen.

      My career of 35 years was in local small business development. I used to track the IRS statistics for small business start-ups in the U.S.

      Only one start-up in 5 made it to a 2nd year. And of those left in business after 5 years, it was only one in 5. Hence, 20% made it past one year, and of those only 20% made it to 5 years. 20% of 20% is 4%. So of 100 business startups, 4 make it to 5 years. That's a 96% failure rate.

      The actual numbers are probably worse because those are the figures for businesses that paid income taxes to the fed. How many entrepreneurs start a business but fold before they ever claim to be a business or show a profit?

      Whatever the online small business success rate is . . . IMO, it's an ugly number.

      Steve
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  • Profile picture of the author eternalworm
    I think the only thing that will effect your success in ANYTHING is how much time and work you are willing to put into something. Sky is the limit if you have the determination.
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  • Profile picture of the author Brent Stangel
    but I'll never have what it takes to rise above the rim.
    There's the difference. You accept reality.

    American Idol contestant who sucked so bad the judges were cringing, back stage after their "performance" tearfully complaining, "I know I can sing!"

    Why are there so few (per capita) rock stars, movie stars, Nascar champions, pro sports athletes, etc. ?

    Internet marketing is accessible to the masses who live on fantasies.
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    • Profile picture of the author John Pagulayan
      Originally Posted by Brent Stangel View Post

      There's the difference. You accept reality.

      American Idol contestant who sucked so bad the judges were cringing, back stage after their "performance" tearfully complaining, "I know I can sing!"

      Why are there so few (per capita) rock stars, movie stars, Nascar champions, pro sports athletes, etc. ?

      Internet marketing is accessible to the masses who live on fantasies.
      I was about to reply "You fail if you give up too easily..." and then I saw this. lol!

      But yeah, this is true to some extent.

      However, even if if you totally suck at it, the real question is ... what are you going to do about it?

      You can work at it to get better or get a coach!
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  • Profile picture of the author DPM70
    Who are the people that are most likely to fail in IM?
    The ones like you who hang around philosophising these kinds of questions when you could be getting on with some damn work! You obviously know how to write and how to think about things, so why not put up your own blog with your own thoughts. Given time and some creative content, you'd come good.

    "but I'll never, ever be able to dunk a basketball." - but you don't want to do that. It's a nice cliche to use but ultimately a waste of time.

    Go after what you want to do. And do it.

    I realise there is ulterior motive in your question - but, huh, I stand by this. Sue me (for wasting my own time here!)
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  • Profile picture of the author writeaway
    I'd like to add this:

    If you fall for FAKE coaches/gurus

    It's better to do your own research. There are TONS of free materials out there. Take baby steps. No need to waste your money.
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    • Profile picture of the author kilgore
      Originally Posted by Steve B View Post

      So of 100 business startups, 4 make it to 5 years. That's a 96% failure rate.
      Steve, that's really interesting -- but not all that surprising. My interest has always been more in the tech startup world, but even there the numbers aren't pretty. According to Harvard Business School researcher, 3/4 of venture capital backed startups fail -- and obviously VC-backed startups are the cream of the crop, already having demonstrated to some extent that their team and product were solid.

      Somehow I don't think the 96% of businesses you track or the 75% of failed VC-backed startups failed only because they weren't smart enough, motivated enough or didn't "take action".

      Originally Posted by Brent Stangel View Post

      There's the difference. You accept reality.
      True. To some extent. Though, I must admit like most entrepreneurs I probably have an over-optimistic view of my own prospects for business success

      Originally Posted by DPM70 View Post

      The ones like you who hang around philosophising these kinds of questions when you could be getting on with some damn work! You obviously know how to write and how to think about things, so why not put up your own blog with your own thoughts. Given time and some creative content, you'd come good.
      Thanks for the complement about my writing -- though I actually think I'd be a terrible blogger. It's really not my thing. And anyway I already have a company to run...

      Originally Posted by DPM70 View Post

      "but I'll never, ever be able to dunk a basketball." - but you don't want to do that. It's a nice cliche to use but ultimately a waste of time.
      I think it's a pretty good analogy actually. The point is that there are some things that given our skills, talents, resources and interests we will never be able to achieve no matter how hard we try. But if you don't like the basketball analogy, I'll choose something more business-related. No matter how hard I work or how hard I try I would fail at creating the following businesses:
      • High end restaurant (I'm a good cook -- but not thaaat good)
      • Auto repair shop (I know very little about auto repair and my mechanical ability is definitely subpar)
      • Tree trimming (I don't like heights)
      • Door to door salesman (I just don't have the personality for it)
      And I'll point out that all of the above, I'd likely fail at even if I really, really wanted to succeed. The point is it's not enough to want to succeed. Success at business isn't a matter of making a wish on a genie's lamp. You need skills. You need drive. You need luck.

      Anyway here's my short list of people likely to fail:
      1. People without the right skills. "Right" admittedly is subjective and there are lots and lots of ways to make money online, but undoubtedly there are certain skills you need to be successful. For instance, if you're blogging or doing article marketing, you had better be a damned good writer. SaaS? You better know something about code. Affiliate marketing? You had better know something about sales. Etc, etc, etc. If you don't want to fail, you had better figure out what you're good at and you had better be better at it than your competition because on the internet the whole world is literally your competition.
      2. People who are only motivated by quick money. Businesses take time to develop. If you're looking for fast cash, you'll likely be disappointed and not put in the time and energy to succeed.
      3. People who can't (or don't want to) think for themselves. So many people here seem to be looking for get-rich-quick systems or methods. The fact is that 99.9% of those systems are crap and the rest of them will be crap after the next Google algorithm change or other game-changing technology comes out. Even if you're lucky enough to find a money-making system in the short-term, what works today will likely not work tomorrow. You need to be able to think in order to anticipate and beat the competition.
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      • Profile picture of the author savidge4
        I think in Internet Marketing Failure is not an option, but in many ways a right of passage. You might Fail Once Twice Three times... heck 30 times. Its perseverance that gets you beyond the failure.

        The basic principles of what we do is very easy. We get traffic, we qualify that traffic and then we sell to that traffic. However, if one of these steps is not working, or simply missed, that is where failure takes over.

        Once these 3 principles are understood individually as well as how they work together, that is where success occurs.
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  • Profile picture of the author nuworld
    People that don't have the right mindset of IM/AF. The skeptical ones asking if their lives are pyramid schemes. Ones that expect everything given to them on a silver plate.
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  • Profile picture of the author ikontent
    Originally Posted by kilgore View Post

    Who are the people that are most likely to fail in IM?

    If you believe the hype, it seems like anyone with a credit card to buy a WSO can become an internet millionaire.....

    Likewise, it seems to me that there are people who will never succeed in IM -- no matter how hard they work, how motivated they are, how much action they take or how much they learn or know about theory.
    Success or failure? That depends on what is the definition of success, and who's defining it.

    If being a successful swimmer means winning the Olympics, or swimming the Channel - it's a no- brainer, I'm a biiiiig failure. If success means being able to make the shore when my boat sinks in the middle of the river - I'm a thumping success. That's my definition, by the way - someone else might define it as being able to make the shore in half the time!!!!

    Part of the reason why so many consider themselves failures is because of the "millionaire" myth; I know a few people who managed to get a few thousand a month going, but then gave up because "it's not growing any more; I've tried everything, but failed.". Many more who went down the route of "I spent a couple of thousand dollars and got back just $50".

    I know one person who considers herself a successful "internet entrepreneur". She doesn't have a website of her own, nor a list, nor any of the other stuff most IM'ers would consider the basics. What she does have is a set of profiles on a few freelancer sites, a linked in profile, a set of repeat customers - and an income of a few hundred dollars a month (I'd guess in the 300 - 500 range). Would you call that successful?

    Depends ;

    If your yardstick for success is earnings in the millions and all the trappings (squeeze page; one time offer; blah blah), she isn't.

    Her yardstick's quite different. A typical office worker in her country / city earns the equivalent of $200 per month as a salary; that's what she was making, before she quit work after her first child was born.
    She could go back to working that way, find help for the home (childcare + home..) - probably make that amount, and pay some part for the home help. Or she could go on this way; she makes more, spends less time, has help in the home which she pays for, has time with her children (right now, the count's up to two). Less stress, more happiness.

    By all means, I agree with you - be realistic about what you can achieve.
    But even more - be realistic about what makes success or failure - for you.
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  • Profile picture of the author forsure12
    if you use forums more than 15 mins a day
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  • Profile picture of the author Abe Archer
    You're going to fail if:

    - You're not on the right road. No matter how fast you're going or the action you're taking, you won't make millions if you're running a lemonade stand.
    - You don't have your focus nailed down. If you don't know the right techniques here then this can take a lot of time to get right, like it did for me.
    - You procrastinate. If you don't get started, nothing will get done. But this can be much more complicated than "Just Do It"

    Abe Archer
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  • Profile picture of the author nooman ahmed
    .... you have a goal but to not take the necessary steps every day to reach that goal.
    The key is consistency and a long term vision and having small targets along the way.
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