How to lose TONS of money and time with internet marketing
Something that I haven't thought about much recently was how do you lose all your money and time while engaging in internet marketing. I thought that this would be a good topic to talk about as this forum already has quite an agglomeration of content that deals with making money online, so I believe that "how individuals lose money online" is something that definitely needs to be discussed.
If you follow movies and read books, then you'll soon learn that individuals lose all of their fortune by self-indulging and spending it on the many luxuries that life has to offer. However, when I thought about it, this is far from the truth.
When I dug deeper, the reason that most people lose all of their fortunes is through poor investments. For example, let's look at the typical beginner in internet marketing. The reason why most of them lose money is that they build websites that are NOT profitable.
Maybe they don't pick a lucrative niche market, or are utilizing an inappropriate business model in a market, but of these can assail your funds in a dramatic fashion. Now, let's look at how internet marketers can lose a whole bunch of time.
If your business model simply doesn't work in a market, then you have to know when to pull the plug. There are a lot of methods that an individual can use to generate website traffic to their website. However, one of the quickest is by using a paid service such as Google adwords.
The problem with this is that many beginner internet marketers consider this too "risky" and opt in to use free methods such as article marketing, social bookmarking, social networking, social media, and the list goes on. These methods may not cost an individual any capital upfront, but it does require the individual to invest a generous amount of time into the process, and if your website is not profitable, then you can literally waste months of doing something for nothing.
There is no surefire method that I can tell anyone to use to make the right investments every single time, as even though I'm a seasoned internet marketer, I don't consider myself to be an oracle. What I do recommend is to study your market well and to do the proper market research/marketing plan implementation.
Learning how to make good investments in your business comes with practice as it's very counter-intuitive.
Doug
If you follow movies and read books, then you'll soon learn that individuals lose all of their fortune by self-indulging and spending it on the many luxuries that life has to offer. However, when I thought about it, this is far from the truth.
When I dug deeper, the reason that most people lose all of their fortunes is through poor investments. For example, let's look at the typical beginner in internet marketing. The reason why most of them lose money is that they build websites that are NOT profitable.
Maybe they don't pick a lucrative niche market, or are utilizing an inappropriate business model in a market, but of these can assail your funds in a dramatic fashion. Now, let's look at how internet marketers can lose a whole bunch of time.
If your business model simply doesn't work in a market, then you have to know when to pull the plug. There are a lot of methods that an individual can use to generate website traffic to their website. However, one of the quickest is by using a paid service such as Google adwords.
The problem with this is that many beginner internet marketers consider this too "risky" and opt in to use free methods such as article marketing, social bookmarking, social networking, social media, and the list goes on. These methods may not cost an individual any capital upfront, but it does require the individual to invest a generous amount of time into the process, and if your website is not profitable, then you can literally waste months of doing something for nothing.
There is no surefire method that I can tell anyone to use to make the right investments every single time, as even though I'm a seasoned internet marketer, I don't consider myself to be an oracle. What I do recommend is to study your market well and to do the proper market research/marketing plan implementation.
Learning how to make good investments in your business comes with practice as it's very counter-intuitive.
Doug
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