Why Not Make Money Slowly?

by 44 replies
56
I was just browsing through the main forum this morning
and I noticed several threads posing questions around
"How to make money fast?".

So why don't people want to make money slowly?

In my experience, trying to do things too quickly without
proper research and planning often leads to losing money
fast!

Try ignoring all the get rich quick hyperbole and doing
your own thing...

How about taking your time, considering what type of
online business you want to build, investing time
to fully research your chosen niche, getting to know your
ideal customer's real needs and desires and then creating
a product or service that has long term profit potential?

I'm sure you've heard the tale of the Tortoise and the
Hare, think about who won in the end. ;-)

John
#main internet marketing discussion forum #make #money #slowly
  • The main problem is the temptation of the shiny object resulting with moving from one business model to the next with no progress ever made at any model.
    • [1] reply
    • From what I've learned over the last 5 years!
      • Most people just need cash - NOW
      • They never look at this as real business
      • Plus, they never consider building business assets in the virtual world.

      They jump on "quick" every time, and in the end most of them do not make a lot of money, and end up losing a lot of time and money along the way.

      I talked to one guy few months back. He wanted to make quick cash, but when I explained to him all that it takes, he was not happy
  • I fully agree with you, John!

    But I also know from experience how easy it is to fall for all the "push-button-simple" hype and misleading marketing which make you believe that making money quick is easy.

    I made a blog post recently about how I've come to realize this exact thing, and what actions I am taking to succeed online (link in my signature below).
  • I know that story - you mean the one where the hare crossed the motorway and the tortoise got squished for going too slow in all that traffic? or is there a different one.
    • [1] reply
    • Sadly, Andy your sense of humour is as bad as
      your drumming! :p
  • Interesting perspective especially in this age of a focus on FAST results!

    I still think taking action - instead of sitting around coming up with the "perfecr" plan is the best way to generate results
    • [2] replies
    • Welcome to the forum.

      Maybe when you've been a member here for as long as John has you might think differently

      Many people new to IM think it's all gonna happen quickly and buy into the whole "fail fast - take massive action and you will succeed" mentality.

      That's fine IF you're taking the 'right' actions, and unfortunately as John said, most people don't even want to think about that part - they'd rather play the lottery and buy random get rich quick products hoping that if they buy enough of them they'll find one they can just copy and get rich.

      It doesn't work like that.

      Working hard is not what gets results.

      Working Smart is what makes the difference.

      The people John is referring to are looking for the short cut, but there's no shortcut to experience, dedication and persistence.

      You can read how to be a heart surgeon but it doesn't make you one, but people think they can read a few ebooks and be a successful business person.
      • [ 4 ] Thanks
      • [1] reply
    • Strange I don't remember saying anything about creating
      a perfect plan... I said take some time to plan properly.

      It baffles me why people think they can build a business
      based on no planning whatsoever. It doesn't need to be
      perfect, but without a proper plan and set of realistic
      objectives, how can you know where you're headed?

      John
      • [ 2 ] Thanks
  • Hey John,

    Because time is always part of the equation. Let's say I make the statement:

    I made $5,000.

    That really doesn't tell us much. Did I make it today? This week? Or did it take me 15 years to make? Time is of the essence.

    As you know, cashflow is very important in business and getting our hands on the cash is often the difference between a business growing or dying.

    And speaking of stories, how about a real one? Remember in the London Olympics, it was Usain Bolt that got the gold.
  • I'll give my opinion as I'm relatively new to IM.

    As people mentioned above, it's really easy to get into that get-rich-quick hype thing. Thing is though, people who create products, ebooks, guides on how to make money or rather how they made money put it in a way that it seems very easy to do. The concept of $xxxx in y time. What a lot of them don't provide is this information on how long it took them to reach this, let's say, $10k in 1 month. They put it in a way that it's newbie friendly and easy to do.
    Now a newbie comes and thinks it's easy to do, you set up things and money just come pouring from the sky. Sounds easy, doesn't it? People started to see IM as the most easiest way to make a living and in my opinion, as it is easier as you do not need huge capital to invest, it requires a lot of pre-work, research and all other stuff. It really does take time. And in some cases people just over complicate things which leads to failure. Another reason is just laziness... The worst thing about this age of internet is that youngsters who are starting out in offline business see this in the same way as IM - you invest money, all of a sudden there comes clients and profits and dream life. It's just wrong mindset. It's okay to have high goals, but it's not okay to expect them to come the next day without putting any effort. And I don't blame those guru's and people who create informational product of their money making method etc. It's just people became lazy and want riches over night and still believe in fairy tales. People turn to business and IM when they are desperate for money and their mind is so messed up that they believe in every single word gurus tell. It's not a way to start a business, you have to learn, create a plan and work towards it. Otherwise you might as well go to McDonalds and flip some burgers. I hope that makes sense

    P.S. I was the same way, though later in my life I started to treat this IM thing as a normal business and not some quick-overnight-fairy tale riches.
  • Hi John,

    Have to agree with you pal!

    No plan is ever perfect but at least making one gives you a starting point.

    If you are willing to wait as long as it takes to find what you are looking for then you stand far greater chance of finding it.

    We could do with more experienced guys like yourself sharing their wisdom more often.

    All the best John and have a great day!
  • Banned
    If there are legit ways to make money fast, why would they want to make it slowly? All things being equal, if I can make a million bucks in 6 months, why would I chose to do it in 6 years instead?

    Now, as to whether it's POSSIBLE to make money fast...well, that's a different argument.
  • It'd be nice to make money fast. But I prefer to take things nice and slow.

    Chad
  • You are right, John. Its better to be precise than rush in and make lots of mistakes. However, I think sometimes people get worried that they will miss the ship if they don't board it in time because they worry IM is too fast changing.
  • I guess it's the giving and getting thing. A vast majority of people want to get, and not give. Getting it fast equals getting it without giving something first. I wouldn't blame them, they are trained that way by our society, advertising etc. All this "use now, pay later" just has had its effect on people's minds.

    They should retrain themselves, get out of this consuming getter bubble, and start giving, serving. A good start would be to read Science of Being Rich by W.D.Wattles and Think and Grow Rich by N.Hill.
  • While I agree with John about having a plan and thinking about the details, I'd be willling to bet that in reality a bigger problem than being in a rush is that people lack a sense of urgency, causing procrastination.

    When you are doing IM, unless you are contracting for work, no one tells you that something has to been done today. When you have a job, you "have to" go to work today, or your boss will fire you. To work for yourself, you need that same sense of urgency where during part of the day YOU HAVE TO get something done.
    • [ 1 ] Thanks
    • [1] reply
    • And that hype about making money fast is so so misleading. And newbies will keep falling for it.
      • [2] replies
  • The "slow" concept deepens with age. When you are
    young (chronologically and business wise) you want
    everything today, right away. With age comes the
    wisdom that the strongest buildings take the longest
    time to build.

    -Ray Edwards
  • Well spoken like a recovering millionaire John lol...
  • nice post... but how slow is slow? lol... nah, kidding aside, I think the thread starter has a point....
    • [1] reply
    • Banned
      Pardon me playing with words as usual.

      Good to see you again by the way John, how the hec have you been lately? Are you still planning your motorhome trip to Europe? Btw Scotland was stunning! I loved it up there during my month spent touring around your staggeringly beautiful part of the world. (Now back in the Westcountry).

      So guys... you want to make some money fast huh? Well, there is an 'easy' way to do it but as Andy alluded to above you're going to have to work a lot smarter to get your hands on it.

      Many people think to start in business you need to start small. However there is a downside to this. For if you think too small, in other words loose change trifling amounts of money, it's going take you a month of Sunday's and then some to see a reasonable return on your investment for the time put in to your new business.

      By all means making money slowly and surely is certainly better than going for the quick fast money, where as John quite rightly stated, you're just as likely to lose it again just as quickly in this industry.

      However, there is a way around this if you do want to make a lot of money fast, if this is your goal. It means raising the bar though. Drastically.

      Look! Don't be fooled into thinking you always have to operate at a small level. By which I mean selling or promoting goods, products, and services below on average a $100 price point.

      A few ways you can go about this to make a lot more money faster...

      Consider putting together the ultimate training package in the IM industry specific to your niche.

      Coaching materials including a very in depth range of materials packaged up like the gurus do it with a minimum price tag of $1,000. Get affiliates on board, big name promoters and you could have a million dollar launch on your hands. 'Could' being the operative word here.

      Obviously this will require a hell of a lot of work and research on your part for at least the next 12 months if you do not have the necessary knowledge and skill to put such a package together immediately. Such is life. But if you want it badly enough - you'll do whatever it takes right, to get you from where you are now towards your target financial destination - correct? Yeah?

      Still with me? Good.

      That's just one model you could go for.

      Another thing you could consider is to play at a much higher level, where the stakes are much, much higher.

      Forget trying to get rich quickly promoting or selling cheap ass products.

      Go for markets where you can help sellers of exceptionally high ticket value are looking for buyers of their products and take a commission for helping these sellers connect with their ideal target buyers.

      Think about islands for sale, farms or large land acreage parcels for sale, aircraft for sale including airliners, ships for sale, mines for sale - any product or business niche where the ticket item starts at a rock bottom minimum half million dollars to name your price.

      Here you go, could you find a buyer for these businesses for example?...

      At $15M - Sandy Cay - Bahamas, Caribbean - Private Islands for Sale

      At £1,995,000 ($3,200,000USD) - 5 bedroom Farm House for sale in Little Hadham, Near Ware | 50019051 - Fine & Country United Kingdom

      Bombardier Global Express jet for sale - Exclusive Aircraft

      At $32,300,000 - Boats for sale China, Used boat sales, Commercial For Sale 55000dwt bulk carrier - Apollo Duck

      You get the idea?

      Connections, connections, connections - it's all about the people you know or can make a connection with / to. Basically matching needs. You're a marketer damn it! Get out there and do what you do best. Building bridges between people with different wants and needs connecting them to the people they want to do business with.

      Don't be put off by the high price tags. People are people wherever you go. Driven by the same emotions experiencing the same wants and needs and all wanting to make a profit.

      Think about different countries, for example China where rich people are looking for high end luxury items such as top of the range sports or luxury cars. What you want maybe is to find a way to connect these buyers in this instance with the ideal product they're looking for.

      You could charge a finders fee on the one end and a sellers fee on the other end, together making up a very sizable chunk of cash if you can pull the deal or deals together.

      You don't need to believe (if you don't want to) that the only way to make money online is by dealing in chump change. Do this and it might happen, it might not, one thing is for certain though when you deal at the low end of the business market it might just take you one hell of a lot more time to make some serious dollar.

      Time which better spent on connecting just a few people together rather than thousands of people together over a much longer time frame could yield much better results depending on your personality type and the personal skills you can bring to the table.

      Possibly something to think about.

      Now get out there and do some research!

      Smoking hot,


      Mark Andrews
      • [ 2 ] Thanks
  • I agree completely John, but in our "instant" society everybody wants it right now. This causes many to market products promoting lottery winning incomes overnight.

    It's funny, you mention the Tortoise and the Hare. I just completed Financial Peace University from Dave Ramsey and he uses the same example for paying off debt and building wealth.

    Benjamin Ehinger
    • [1] reply
    • While I totally agree with you John some times people can be in some really desperate situations and NEED money fast.

      Unfortunately most of them have been lured by the gurus to believe that the internet can provide overnight riches. Which is not so.
      • [1] reply
  • It's that shiny object syndrome again. I tell you now days people would rather gamble on a

    hoping chance than to learn a system and put in a little old fashion hard work. Thank God I

    Have a rational and sound mind. I knew when I first started in this business if it was so

    easy to become wealthy online everyone would do it. It would be all over social networks,

    on CNN breaking news, and people would be shouting from the roof tops but since it

    means you have to bucket down and work like any other job most people lose interest,

    sad.
  • why?

    Laziness, Procrastination, and then Desperation.

    People are too lazy to do what they know they should be doing throughout the month to make money, and because they keep procrastinating things that they should be doing, or bills they should be paying build up, and while they are procrastinating time keeps moving forward inching along and before they know it they are in a position where they are behind on their bills and don't have the money to make ends meet, or they are at risk of losing their car, or losing their house, etc, so they become desperate and try and search for a way out.

    And they think the way out is "quick cash"

    but the real way out, the true way out is to change their habits of procrastination, lazyness, etc.

    Like a friend of mine said, "People use fear, pain, and desperation force them to do what they should have been doing the whole time."
  • Just one more thing.

    I do think it is important that each business person have a few strategies that can bring in a quick flood of cash.

    I think it's important to have both slow and fast strategies in your toolbox.

    I have no problem with people wanting to make money fast.

    But I think there is a big difference between that IMer or Business person who has the knowledge and skill to bring in quick cash, and the newbie who has no skills or knowledge about even the basics of IM thinking that they can make quick money. Or thinking that they are going to be able to make quick money without effort.
  • I got bills to pay. I got rent, food, clothes and a car that need to be paid for. Earning slowly won't cut it no more.
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    • ^^^
      ...Just wanted to draw attention to this boulder of gold laying
      on the ground so that nobody walks by without chipping off
      a few chunks of it for themselves on their way to trying to
      find all that "fast" money...
      • [ 2 ] Thanks
  • I agree with you.These were the cause why I was a failure in my early days trying to make money online fast.Lack of focus on a particular business is another major problem for new people trying to make money online.Making money fast is only possible if you can spend couple of thousands dollars to buy a revenue making site from Flippa.
  • In addition to losing money, going after the dream of making money online with the intention of getting there in a month's time will also drain your hope and drive. You're simply setting yourself up for failure. A well oiled business will not arrive at your doorstep in a few days.

    Making money quickly is a money maker for those selling a "proven" solution. That's all it is. Otherwise, it's a notion worth tucking away. You've got to invest quite a lot of time into your plan, figuring out how things will operate, giving yourself a checklist of things to do, and actually sticking to the plan.

    When the concept of making money online was new to me I went after the dreams of fast cash like most others. But when you finally realize you're attempting to run a business things are going to shift around when it comes to perspective. Otherwise, you're caught up in a cruel cycle of failure.

    I think it all comes down to people getting ahead of themselves in terms of expectations.
  • Yeah you're right John taylor, not like everyone that want to make money want, i'd rather make it slowly and take my time on learning and knows better about the industry.
  • I agree. The 'fast money' is an emotive and well trodden path. Its what elicits a buy response from many who are not looking for a business/brand - they want instant gratification and push button systems that promise the world...
  • Because life is too short ...............................
  • I agree John you said it all here. I have been marketing for around 2 and 1/2 years and spent the first 1 and 1/2 years just on education and that has really paid off. I now create a good income on the knowledge I have attained and I did it all very slowly and carefully making sure I wasn't wasting money along the way.

    My advice to people is to stay in your regular job and do this slowly to save yourself any major disappointment. People that jump straight in and believe they can buy some crap push button riches software and then repeat that over and over because they quite their job believing that they will be an online millionaire in a matter of weeks usually get to stressed because of the pressure that they have put on themselves and quit.

    I agree take your time and doing it right the first time.
    Thanks for the post John.

    Cheers Mark Wightley
  • The more I learn about the IM and AM business the more these words resonate with me. You can make money fast, but it won't last. If you do it slowly - step by step - you can build something more stable
  • There is a reason 97% people fail to make money online... They don't take time to learn the necessary skills and the process of how to actually do it!

    Internet marketing is a Business! Like any other business it takes time to set up, but in terms of building an offline business it is much faster to do it online.

    I believe this is where people get the idea that you can make money fast online. As many other people have stated there is no "shiny magic button" to get you rich fast - only way is through work and consistent effort.
  • My best revenue streams stem from models that took quite a bit of legwork.

    I've gone for the easy buck many times, but I'm sure glad I also put in the time and effort in 3 models that now generate stable and long term income.

    Recently I launched an online service. I never thought I would. But it's a really good model and dovetails perfectly with my niche.

    For a long time I didn't want to get bogged down with customer emails/ support, etc. Anyway, it's turning out I really enjoy the interaction. I'm pretty generous with my time.

    My service is pretty basic, but within 3 days of launching, I'm getting all kinds of premium/custom service requests which increases the revenue 3 to 5 fold ... and all of it can be outsourced. Should have done this a long time ago.

    My point is it's a viable business model that took quite a bit to set up. I researched it a lot, lined up outsourcing, planned and executed a marketing strategy, etc. It's been a decent success financially and is a long term model, but more importantly a lot of fun.
    • [ 1 ] Thanks
  • I was taught that the hard way myself. I tried so hard to earn money as fast as I could with PPC marketing, but blogging, forums, and the social network take time, but pays off big.
  • There are so many great responses in this thread, and what a great thread to start. It seems no one sees this as real business, and real businesses take time to grow. If I were starting again in IM, I would take the philosophy of lean start-ups: fail fast and often, but still take it seriously as a business. Get it out there and work it hard, and if you fail, then tweak or abandon and start working the next. Now, I'm wholly against chasing after WSO after WSO, but I'm talking about putting your focus into one project and working it. If you fail, you need to realize that fast, and recognize what needs to happen.

    Great comments, though.

    Be well,

    Lane
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