Do you make 5 figures/month online? Answer this...

Simple... lack of focus! I did it for a while and see others doing it everyday... going from one hot product to the next and never mastering one skill/method. Focus on one thing and become the best at it. That is how to make real money online.

Good point, Phil.

It's no good being a 'Jack of All Trades, Master of None'.

I have trained thousands now in affiliate marketing and the number one reason is they're on a never ending search for the magic pill or short cut or "one missing piece" that just doesn't exist. Instead of accepting that in order to make big money, you actually have to work for it and work hard, they get suckered into the "earn $100,000 with 30 seconds of work" mindset which just kills any hope of them succeeding. I put the blame on marketers who exploit that known weakness in virtually every newbie. It's funny how they buy something that will show them the way, then it doesn't work and they buy the next thing that will show them the way and they get into a neverending cycle of self destruction.

While it is certainly true that you can go on cruise control once you've succeeded, getting there requires focus, determination and WORK, which is something that is lacking in quite a few people.

What is the difference? 5 figure is just a 10X scale of 4 figure, if you know the way to 4 figure, you can reach 5 figure.

Steven W,

I should have clarified.

I've been asking some top guys who I know and consider 'experts' this very question.

I figured I'd ask on the forum too, just to get more answers and discover trends and key ideas.

My 'qualifying' is simply to attract the key players. I apologise if you find this offensive, but I don't see a problem with it. I believe it would be and is helpful.

To PPC-Coach, Tanya, and those answering, this is appreciated (by me at least).

They are under the illusion that knowledge will make them rich.

More specifically they try endlessly to get that next piece of knowledge that will make them rich.

The reality is only taking action can make you money in this business and the value of knowledge is waaay overrated.

Most of the people on this forum have more than enough knowledge to make 5 figures a month but most simply won't DO what it takes to make that money.

To make $10,000 a month (as an example) you must take action that can conceivably make you $10,000 a month.

It really is as simple as that.

Kindest regards,
Andrew Cavanagh

Uhm, why 5 figures? I think it should be more like 6. But people who do 4 figures are also successful online marketers.

The answer to your question: It's a lack of system. You simply cannot run a high income business without a system in place. A system is a roadmap that translates your business activities into doable tasks that equals the overall outcomes.

Okay, before this gets out of hand, or anyone else gets insulted, let me just say that I don't believe if you 'only' make $2000/month you're unsuccessful online.

In my initial post, the word 'success' isn't even mentioned. But, the qualifying of five figures guarantees we get answers from people who have "proved" themselves.

No hard feelings, I hope.

You have to figure out what works and then just duplicate the process, many people go from one method/business model to another and that is why they fail, if they don't have success instantly in one thing, it is the next thing, and the next.

Stay with one skill/model master it and you an make money online, there are many ways to make money online, people just need to find their niche/skillset and keep moving forward.

#1 reason is fear of failure.

Most successful entrepreneurs (online or not) have failed numerous times in their career before hitting it big. If you can think big, execute, and try again once (not if) you fail, you will eventually succeed.

FYI I answered this question, but I don't make 5 figures a month yet (or anywhere close to it), although I keep trying

I don't know why you ask this.. But I personally feel that the question would be better reframed as "People who do this full time". Look in terms of Puchasing power Parity, I made an equal amount of money when I just made $2500... Coz I can get for 2500 what you would get for 10K. Well, at least for most things.

And there are people on this forum who I know make 1K a month and a rich in their respective countries. They have a right to give an opinion.

With that said, I will go on and say that the single most important reason most people fail is that they never try enough.

More or less all the replies you will find here will refglect the same theory.

-Lakshay

Simple (and it's already been stated in this thread)...

1. Lack of action
2. looking for the next big thing and BUYING every IM training type product out there. STOP buying stuff and DO stuff...

A few reasons:

1. Internet marketing is fundementally no different to working for yourself in any line of business offline. Those that are successful are disciplined, have a clear understanding of what they can and can't do, really get to know ther customers, build trust with them and stick to what they are good at.

2. Many have never had experience of running a business, so having a solid business model, processes and system in place is not seen as important. Many who jump into internet marketing see it as something they can do "while sitting with their feet up drinking tequilas on the beach" - Mainly due to the dubious promises spouted by other internet marketers.

3. Being a lone wolf does work for some - But we made massive leaps in our business when we started getting rid of the stuff we didn't enjoy or were frankly not very good at. We concentrate on what we are good at and manage the rest out.

4. Track everything - when something starts to work leverage the hell out of it.

Cheers.

Aside from the "Action" component, it takes:

1) Promoting what actually converts

2) Leveraging the web

It's just as easy to build a list (or a product) as it is to be a full-time squidoo/EZA writer.

Which one makes more sense and creates more profit?

Most people gravitate to tricks, magic-buttons and trends.

Smart marketers who really make it are (usually) building assets. Not just doing PPC, or the latest traffic trick solely.

They're BUILDING something with the traffic they drive

-Chris

The only way that held ME back was there's too many ways to make frikken money!

Seriously I was making £'s from every angle so I'd put my focus on every angle and in turn I was really focusing on NOTHING.

Site flipping/ adsense/ affiliate marketing/ product creation, and niche marketing to name a few. so I'd choose one and then someone would come along and explain how they're killing it with BLOGS??

Back to the drawing board

Anyhoo I make what I make today by focusing on no more than 3 profit generation methods which are CPA and Adsense, my own products, and affiliate products. All are promoted the usual way or FREE traffic and I'm starting list building

I've got a headache!

Louis

When I used to mentor people in both IM and the offline small business world, I discovered that the number one reason why they failed boiled down to one word:

mindset

You can break that down as far as you want such as limiting beliefs, negative attitude, laziness, lack of focus, no support structure, ignoring fundamental business principles, not willing to pay the price, etc.

If you don't have the right mindset you won't take consistent action. If you don't have the right mindset you won't find ways to reach your deep motivation to keep you going.

Most of the problems / issues / challenges that people encounter that I've talked with can usually be traced to their way of thinking. I saw a post the other day where someone wrote "niches will eventually dry up" (an example of having a scarcity mindset). I saw another post a few weeks ago where someone said to stay away from competitive markets because you cannot succeed in them.

On a deeper level, if you look at an individual's mindset, we are all guided by our values and our belief system. We are very unique in that way, but we also share many commonalities. As one example, we have an inner thermostat and we all react to stimuli differently. When a person starts a business they have certain expectations.

Our belief and value system will guide a person on how they will react when they encounter the inevitable obstacles that will occur. When things get tough, when frustration or uncertainty begin to set in, some people get more focused and plow through while others quit. This one subject fascinates me to no end.

I'm living proof of this whole mindset issue. About 9 years ago I was struggling to make any money online. I thought because I was an offline professsional that I knew more than the online marketers that I met (or from their products I bought). So that ego was coming from a faulty mindset. And even then it took me 18 months before I earned 1k a month consistently simply because my own mindset was holding me back.

So I routinely invest in books that deal with psychology, influence, sales techniques, customer service, leadership, etc. all in an effort to continually feed my mind.

IMO, if you can fix / work/ focus on your own issues first, no matter what it may be, you give yourself a much better chance at succeeding. When I first started out my own mindset issues were:

* Faulty belief system
* Lack of focus
* Ego
* Not coachable
* Tried to do everything myself
* Procrastination (which is a result of mindset)
* Jumping from program to program
* Rarely finishing the e-books and IM products that I bought
* Allowing myself to feel overwhelmed
* No cogent plan of action

.....and the older I get, the more and more I believe this. Mindset is absolute King & Queen in my book.

My one nickel and 4 Pesos,

RoD

Rod and PPC coach nailed it.

Action action action...before you get to action you have to decide to take action.


The fundamentals of 1) present a good offer and 2) throw traffic at it
...does not really require several months of buying products that are never read or acted on.

Offer up...go buy some hits, create some hits, borrow some hits...

-S

I think the lack of confidence and the expectation to become rich overnight are the biggest obstacles. People need to realize that online business is like any other business - you need to invest countless hours before you will start enjoying any benefits of it.

Also, people do not take initiative to learn and apply the proven techniques. All one need to do is to READ - there is no need to buy anything, just read what is available - read this forum, read forums.digitalpoint.com and you will get all the ideas in the world for making any amount of money your heart desires. Just pay attention to what people say - become a good listener a sponge for information and always think how you can apply what you just heard.

I have been coached by a great mentor who is also a warrior

and I am really happy with my income even it's around 1,500$ a month

the difference is I buy less products and have a production plan for each week, planned every sunday afternoon

Mary

I think many people see successful marketers earning huge amounts of cash and try and copycat their exact structure.

With this being a good idea initially (copying methods that are proven), many people fail to see that earning money wont happen overnight.

You need to build trust, an online resume, Internet marketing friends and other aspects you cannot just grab and copy from a successful sales page.

I agree with many here that a 5 figure monthly income shouldn't be seen as successful (albeit impressive), but we should all see an online success story being one of an original goal achieved.

For example: If your main goal is to work from home (and for yourself) and you managed to do this (regardless of your income).. then you have your very own success story.

The obvious answers are this:

Demand (make sure people want it)
Copy (make sure you can communicate the benefits, your credibility and a good price)
Promotion (Master PPC & SEO and viral strategies)
List (continue to grow a trusting readership)

Do your research, follow & track your competitors and above all, don't stop!

Everyone runs after knowledge, but knowledge alone can't get you anywhere.

APPLIED Knowledge is Power...

People underestimate what is involved.

The reality is it is a business and must be run like one. This means systems, effort, discipline, persistence, strategy, measurement, relationships, investment...etc...

Most "hobbyists' lack all or some of those components. They just grab one tactic after another and can't grow it.

You have to treat IM like any other job and knuckle down.

Find a plan that works and stick with it. Don't get side tracked..

The problem is not everyone is self motivated and most people need a boss to push and motivate them.

The number one atribute when it comes to working alone is Self Motivation and a drive to complete tasks at hand..

To conclude - You need to be a highly Self Motivated Person to succeed big time with IM..

Hope this helps some,

Ross Kenny

Hey folks,

Some fantastic responses, and I'm really encouraged.

You have no idea how powerful this information is, when it's consumned and applied in the right way.

JK

For me I think the main reason why people fail online is their mindset.

colleen

Hi Guys, the main reason why people fail is because they struggle to stay a float monthly. Monthly subscription fees and marketing costs can add up and eventually bring you to your knees and people just give up! The aim is to stay in the game whilst you are building your profile and downline - in any business.

You need to firstly pick a great product and have a good strategy with the right system and focus on that. Build a decent downline and residual income to keep you going monthly. From there you can advance to other products/tools that allow you to make great profits.

So having the ability to have multiple income streams and being able to automate this process is key!

Not trying to sell here but for those that are interested please see my link and plug into the right system today. Learn more from my FREE training videos!

Sin Boutkaska

99% of struggling newbies try to copy EXACTLY what they are taught, copying case studies, etc verbatim. Meanwhile hundreds/thousands of others just watched the same video or read the same ebook.

But the real successful people take what they learn and put their own spin on it, make it better, easier, more appealing or more functional. And many of those people are now considered "gurus" themselves.

Kelly

Simple...

They fail to apply the correct skills in the correct manner
on a consistent daily basis.

Tsnyder

"Once an internet marketing newbie gives up on all the "shiny" systems and fancy promises of easy earnings...and then starts to really apply themselves to a solid system, they start to make money."

Jennifer, this should appear in a pop-up for every new visitor to this forum. It would save a lot of people a lot of time. A classic!

JK

I think action is often stymied by the fear of failing in a very public venue - and in front of friends and family. Put aside the need to impress everyone, and figure out what YOU want - and then go for it. You may not hit a home run every time - it really doesn't matter. It's all about taking those first steps and soaking up the education along the way. Keep putting one foot in front of the other long enough and consistently, and your odds of succeeding are excellent.

But for the vast majority of us - it's not overnight, and it's not without some long hours in the meantime!

BUT - the payoff has been well worth the effort!

If you are new to IM and just starting off you may have to greatly adjust the figures you want to make per month because it is difficult and you will most likely become discouraged. Set achievable goals, and keep pushing yourself to aim higher and success will follow

I'm probably wrong.

I think if you have been at this for more than
6 months...

The number one reason you fail is because you
don't do...what you know you should be doing.

-You know you should be in a market where
people buy like crazy...are you in one?

-You know you should have your own website
after you know your niche will buy...You got one?

-You know you should be building a list
and relationship...Are you doing that?

-You know you should use video...are you using it?

-You know you should be using upsells...are you asking for more?

-You know you should have a backend...Do you got junk in the trunk?

-continuity?...

-Customer reactivation?

Peace,
Travis

There is not one top reason or anything like that.

The thing is that you have to find what you enjoy and at the same time is productive... And then do it as much as possible.

Learn from others who have been there, done that... You will always find someone.

Making 5 figures a month after that is as difficult as it is to cut butter with a knife...

OK

OK

I am exaggerating it a little, but the thing is...

People who are not successful online might be moderate consumers, or mild consumers... or even super consumers.

But with regard to production... well they are always mild producers or lesser.

Content is king, its aloso the KONG. Its the PM, prez and secretary of Internet. Be it iun the form of articles, products, videos, lenses, websites, sales copy, email marketing, blogging, videologging or even just chit chat on forums and social networks.

Successful marketers are super consumers and SUPER PRODUCERS.

Start being a super producer... and sooner or later you will be successful.

There is no magic pill; and no magic formula. You can not invent one short concept/result thingy and expect to be known as Einstein Part 2.

You have to keep producing content.... FAST, and High quality. Do thaqt and you pretty much guarantee a big bank balance.

-Lakshay

This is an excellent thread and should be not just read, but studied. It will take time for some of the great thoughts that were expressed to sink in.

I feel having a successful entrepreneurial mindset pretty much covers it. Some are born with and some can develop it.

Are you?...

• Focused
• Self confident
• Determined
• Tenacious
• Non-procrastinator
• Quick to make decisions, slow to change them
• Self-motivated
• Not a perfectionist
• Good at delegating responsibilities
• Insightful planner
• Able to recognize the best opportunities and resist the rest
• Goal oriented
• Action oriented
• Etc...

There are several areas above that I definitely need to work on.

John