I just have to ask this, what is missing?

28 replies
I'm trying to put my fingers on the pulse but for some reason I can't
understand why internet marketing doesn't work for such a large
portion of the IM community according to most top marketers...

Some say 95% of the IM people or running businesses online are
not make any kind of really money to talk about and most are
struggling, even with all the ebooks, mentoring and coaching
programs available today..

So I guess my question is what is really missing or stopping such
a huge crowed from making money online today in this economy?

Is there something missing from the mentoring and coaching programs
that just isn't clear enough?

Let me know what your feelings are on this or if you just want to
get something off your chest post it here, I'm waiting to see what
sort of feedback is gonna pop up here...

--David
#missing
  • Profile picture of the author Tenzo
    In my opinion, it's lack of systems. People focus on techniques, and eventually move on to the next shiny thing. Learning new methods is to be applauded, but should be approached with a thought process of " how can I fit this into my blueprint".

    At least, this is what has been holding me back. It started to come together for me when I started trying to put it together. YMMV.

    Regards,
    Kevin
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    • Profile picture of the author jayden.fellze
      Originally Posted by Tenzo View Post

      In my opinion, it's lack of systems. People focus on techniques, and eventually move on to the next shiny thing. Learning new methods is to be applauded, but should be approached with a thought process of " how can I fit this into my blueprint".

      At least, this is what has been holding me back. It started to come together for me when I started trying to put it together. YMMV.

      Regards,
      Kevin
      I would agree with Kevin. The number of ideas that are thrown (literally) at you by the coaches, gurus or whatever you might call them, makes you think that its all doable, but you don't think about whether the techniques could be beneficial for you or not?
      One more thing is that once you start listening or following people, your own innovation takes a vacation and you start thinking on the lines as they profess. This in turn, makes your thinking foggy (due to the multitudes of gurus and ebooks etc available) and you cant decide which tool would be better for you.
      So, it makes the task all the more difficult for anyone to decide....
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  • Profile picture of the author Mike Bogowski
    It's "all the ebooks, mentoring and coaching programs available today"
    If anything there is too much of it and this sidetracks lots of people I think.

    It isn't bad coaching or bad programs or too many programs thats to blame though. Most people don't succeed for the same reasons that they sit in traffic and go to jobs they hate. Its easy and there is no urgency to change.

    Put a gun in my crotch and tell me you'll fire if I don't make 1 million dollars next year, I guarantee you i'll find a way to make 1.5million. Its all about complacency and urgency. Theres too much of one and not enough of the other for most people.
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  • should I dare say it:

    People don't want to be successful. They are happy right where they are.

    Broke and wishing their lottery numbers hit.

    the systems are there, I've seen them down to do this and do that

    people are just lazy, or try once or twice and fail so they don't try as hard next time.

    or they'd rather watch the sports games....
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    • Profile picture of the author Joanne Greco
      I have several theories....

      1. People are just lazy and want the easy way. They quit when something involves having to work at it.

      2. Then there are those who will read everything they can but never actually get started.

      3. Some want instant results and quit to soon.
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  • Profile picture of the author Mike Hill
    No one wants to work and put forth the effort.

    Whatever happened to people's determination..? Almost every system on the internet will work to some degree, if you put forth an effort for a long enough period of time.

    instead of people saying "...this has to work no matter what" they simply give up and move on. I guess for them it's much easier to just give up then to really sit down and give it an honest effort.

    Mike Hill
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    • Profile picture of the author ShelbyC
      I think it has to do with Pareto's Law.
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      • Profile picture of the author David_Thompson
        I'm really getting some diverse feedback here today for sure
        this is awesome thanks guys...

        Some people are saying it's laziness, lack of focus, info overload,
        Pareto's Law - I have to look that up, they just want fast results,
        lack of determination, don't want to work hard, don't want to be successful, people getting sidetracks.

        And the list goes one man..

        But how come these product aren't helping, they say it is
        suppose to but a vast majority don't make them work or
        can't make them work, I guess it all goes back to the list
        above...

        But some how I fell there is something else that is holding
        people back from making a good living online and these
        product, mentoring and coaching programs have a major
        roll to play in it.

        --David
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  • Profile picture of the author onera
    People lose focus and overwhelmed with all those free and paid info. The simple formula is to focus on something before you move to the next. But don't try to do the same thing and expect it to work. If it does not work, it does not work, or at least you cannot make it work.
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  • Profile picture of the author barrytan
    Hi
    I think there are too many marketeer selling the same kind of products or using the same methods to promote their products. So the chances of making money is not there. Most ebooks or coaching teaches you the same methods. If you can find unique ways of promoting your products to new groups of potential buyers, there your success rates will be higher. There are definitely such people out there who can provide this type of coaching.

    Cheers to your success !
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    • Profile picture of the author David_Thompson
      Originally Posted by barrytan View Post

      Hi
      I think there are too many marketeer selling the same kind of products or using the same methods to promote their products. So the chances of making money is not there. Most ebooks or coaching teaches you the same methods. If you can find unique ways of promoting your products to new groups of potential buyers, there your success rates will be higher. There are definitely such people out there who can provide this type of coaching.

      Cheers to your success !
      I don't think it has anything to do with how many marketers
      are selling the same products, it's about you being more
      creative than the next guy and market your products a little
      differently so it stands out and at the sametime deliver value
      to your customers.

      --David
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  • Profile picture of the author jasondinner
    It's not just 95% of people trying to succeed in their online business that fail.

    It's 95% of everyone that tries anything that fail.

    And there are millions of reasons why, but the obvious ones were already
    mentioned, so i'll leave it at that

    Jason
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  • Profile picture of the author tfy
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    • Profile picture of the author Jenni Mac
      FOCUS! Or lack of focus.

      I know for me, who's been working at this for year and only now, in the last 2 months, been seeing a regular amount of money coming in, it's been a lack of focus.

      What that means is not that I've been sitting home in front of the tv with a plate of chips in one hand and the remote in the other. No I work really hard, not always smart, but hard.

      I drop my kid off at school by 9, some mornings I go straight to the gym for a hour, come home and by 10.30 I'm working and I work online until 2.30 when I have to stop to go and pick her up.

      Once she's in bed at about 7.30, I don't kick back and watch tv, I'm back working until 1.00 in the morning. I then wake up at about 6.00, work in bed on the laptop for a hour or two, get my girl up and take her to school and so begins my day again. I even work most weekends!

      My point is, people who are struggling at IM are NOT always struggling because they're lazy. It is sometimes because they are not working smart i.e. sticking to one thing long enough to see the results.

      If one of you bright young gurus could come up with a product that MADE someone stick to one method/business model until they were making regular money, then you'd be a fine and very rich guru indeed!

      What I think, anyway!
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  • Profile picture of the author Colin Evans
    I went from earning +US$750 per week online to earning nothing by focusing on the wrong thing.

    Nothing is static and if you don't go with the changes you lose. Just because it worked last month doesn't mean it will work this month...

    The basics are for the most part timeless, but some of the specifics can be "flavors of the month" - if you focus on last month's flavor you've lost before you even start.
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  • Profile picture of the author Bev Clement
    David, the quote about 95% isn't about IM but it is about businesses in general. The stats are that any new business 95% will fail in the first year. That is offline business as well as online businesses.

    Most people who fail, fail because they have started the wrong business, didn't take the right advice, didn't do their homework, and understand what their strengths, weaknesses, opportunities and threats were.

    In IM too many people want to earn money overnight without doing anything, so it is a case of some people will quit before they have even started.
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  • Profile picture of the author Mari_Quint
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    • Profile picture of the author jacstone193
      Originally Posted by Mari_Quint View Post

      My thoughts:

      - Failing and not having enough motivation to pick oneself up and try again.
      - Procrastination. Not prioritizing the business.
      - Focusing on too many things at the same time.
      Yes good points - from all of the above too....
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  • Profile picture of the author Monetize
    Many people wanting to make money with internet marketing
    focus only on IM, when they should gear their efforts towards
    a more viable market - people searching for solutions to their
    everyday needs and problems - while using the IM methods
    that they acquired here and elsewhere. Because the IM niche
    is so competitive, the vast majority will fall by the wayside.

    The same is true with affiliate marketing - most people think
    they'll get rich in a few days, when the reality is that it takes
    several months or even years to become successful with aff
    marketing.
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  • Profile picture of the author Devan Koshal
    Focus, people ie me, tend to jump around on projects. Really bad habit. Only just starting to slow down. if i get an idea now i just write it down and work on it mentally while i do some other work.

    Sometimes its best for us to just stand back and give our selves advice as if we where "gurus" ourself, its pretty amazing what comes out..

    Devan
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  • Profile picture of the author John Taylor
    Let's be blunt..

    How about a complete lack of business understanding?

    There's no such thing as an overnight success, all my overnight
    successes have been preceeded by weeks and months of hard
    work from inception, through proper planning to implementation
    and follow up.

    Yes, you need systems and procedures in place, but without the
    fundamental knowledge on how to build a business you are at a
    real disadvantage.

    It starts with in-depth market research, is followed by a detailed
    business plan and the time and resources to build the appropriate
    infrastructure to implement the plan.

    John
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  • Profile picture of the author blakekr
    I don't have the answer to this but I wish I did. I am surrounded by people who are ten times more talented at their gifts than I will ever be at anything in my lifetime. I can see huge business opportunities in people everywhere, and sometimes I can't even shut up about it, and they have to hear what they "should" do. But virtually no one I know exploits their amazing abilities to make the kind of money they should be making. Everyone seems to lack confidence / be waiting for some kind of engraved invitation.
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  • Profile picture of the author Melkor
    Instruction materials can shorten the learning curve but there's no substitute for experience - the difference between success and failure lies in the old "get knocked down seven times, stand up 8" recipe that's older than Napoleon Hill. On average an entrepreneur will try and discard 53 different businesses, ideas or business models before hitting on 1-3 that are workable for them with their particular combination of background and interests. The 95% failure rate leaves out how many people who learn from their first 52 failures and go on to become an overnight success with their 53rd project. (source: the Small business Administration and SCORE.org).

    There are a million proven templates for how to make money in various ways and they all work for some value of work, but do you have the requisite skill set and background to pull it off? Tiger Woods makes a mint playing golf - do you think anyone can pick up a set of clubs today and win tournaments/get endorsement contracts tomorrow? Or even get a job as a golf shop pro? Did Hemingway win the Nobel prize for his first "What I did on my vacation" in second grade?

    Overnight success stories tend to be ten years in the making as you plug away and accumulate the necessary experience and business knowledge. The ones who really do fail are the ones who keep on jumping on to the next thing instead of mastering one thing - the ones who don't put in their 10,000 hours of practice to master their craft.
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  • Profile picture of the author iwebtopia
    Lack of time. There's not enough of it to do what I want to do.
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    Cindy

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  • Profile picture of the author tomw
    Hi David,

    Most IMers focus on tactics rather than strategy. Everything from article marketing to arbitrage are merely tactics. Yes, they can yield an income and often quite a good one, but nowhere near as good as a solid business built on strategic thinking and planning. As has been said, many jump around following the latest and greatest hot tactic, make a quick buck and then search for and hop onto the next one. This will produce short terms gains but has the result of producing an unfocussed, ephemeral "business" that needs constant hands on work and forces the owner to search for the next hot tactic in order to sustain a constant stream of revenue.

    This is simply opportunistic, tactical thinking and execution. Not a real business.

    To those that make a good living from such a mindset and practices, and who would say "well I do alright!" I would reply by saying,

    "Great! You know how to make money, you know how to exploit and profit from many of the tactics. What a wonderful head start you have. But imagine how much you would make with a focussed goal oriented business plan built on strong strategic foundations."

    Without this sounding like a pitch...a few weeks back, there was a great thread by Keith Kogane, and through a discussion he and I had I was inspired to create a product all about strategic thinking, planning and application for IM. We should have it ready soon and it will be out some time in the New Year.

    Why do I feel qualified to do this?

    Well, it's what I do and have done for years as a strategic marketing and advertising consultant with more household brands than I can remember. In fact, I am writing this post as a little distraction (Monday morning syndrome and as I drink my eleven o'clock Wu Long tea) from writing a marketing plan for the repositioning of some key savings products for Lloyds TSB Bank.

    Strategic thinking really is what is missing. Without a strategic overview many lose sight (and motivation) of which direction to go in, what the short, medium and long term goals are, and of course lack a coherent focused roadmap of how to achieve them. All they are really building is a job often disguised (even to themselves!) by the fact that they have an LLC or Ltd company as the framework, maybe with some outsourced, or rather "out-TASKED" elements, but it is a job nonetheless.

    A real growth oriented business with real long term viability and true scalability and that can run without the owner being hands on day in day out (read: the IM Dream that so many covet) can only be achieved though strategic planning. In the IM space you just have to look at how the "gurus" do it to see this obvious fact.

    Thomas.
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    • Profile picture of the author David_Thompson
      Originally Posted by tomw View Post

      Hi David,

      Most IMers focus on tactics rather than strategy.
      Thomas.
      Thomas this one thing here says it all, that statement
      rings thru to the core of most of the problems people
      not just in this industry but in every major marketplace.

      --David
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      • Profile picture of the author tomw
        Originally Posted by David_Thompson View Post

        Thomas this one thing here says it all, that statement
        rings thru to the core of most of the problems people
        not just in this industry but in every major marketplace.

        --David
        Thanks David...and you're right...hence the decision to make a product. In fact, the IM variant will be just one of a complete range of products focused on business and marketing as a whole, not just IM.

        Like any good business we're looking to diversity our offering.



        Great thread.

        Thomas
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      • Profile picture of the author Killer Joe
        Hi David,

        One of the largest hold-backs I see people afflicted with is pre-conceived notions or ideas.

        Regardless of the type of training or education they are embarking on, they still want the results to fit their idea of how the world should work.

        It's equivelent to having a pair of glasses on that only lets them see the the same scenery regardless of the road they are traveling on.

        This malady stifles creativity and skews the eventual outcome to a point where even the most detailed directions on how to accomplish a given goal will be misinterpreted and ultimately lead to failure.

        The solution may call for a round peg, but if all you understand are square holes your chances of succeeding go down hill fast. It's the ability to adapt your thinking to truely match the task at hand that helps determine success or failure.

        KJ
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  • Profile picture of the author borilbogoev
    the mentoring programs are different - some are good, some are scam. But the final and ultimate element that's missing is the one that applies these mentoring programs. Here are some of the reasons for the massive failures:

    - Procrastination
    - Paralysis analysis
    - Lack of specific skills and knowledge (web design, management, marketing)
    - Lack of persistence
    - Lack of motivation (desperation, lack of belief in success)
    - Thinking small, not seeing the big picture

    I think these are the main reasons why most of the internet marketers fail.
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    • Profile picture of the author David_Thompson
      Originally Posted by borilbogoev View Post

      the mentoring programs are different - some are good, some are scam. But the final and ultimate element that's missing is the one that applies these mentoring programs. Here are some of the reasons for the massive failures:

      - Procrastination
      - Paralysis analysis
      - Lack of specific skills and knowledge (web design, management, marketing)
      - Lack of persistence
      - Lack of motivation (desperation, lack of belief in success)
      - Thinking small, not seeing the big picture

      I think these are the main reasons why most of the internet marketers fail.
      Dude that's a great list you have there man
      some have already been mention but good
      anyway bro...

      --David
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