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To Frustrated Newcomers: The Myth of The One-Hit Millionaire (And What To Do Instead)

by WinstonTian
10 replies
If you're one of those people who are sold into the "Internet
Lifestyle Dream", then this post is for you.

Firstly, it exists, and anyone can live the so-called Internet
Lifestyle Dream... IF, and only if you work like a horse. (Or
create a sustainable business that functions without you)

The concept of "mini-retirements" come into mind. Popularized
by Tim Ferris, mini-retirements is supposed to replace the
erroneous concept of retirements.

All of us are taught to make tons of money, and then cut away
the job and move on in life to enjoy your harvest. I personally
agree with Tim that it's all BS.

Most people work like a horse until they're over 50 to 60, and
then plan for retirement. How much can you really enjoy in life
when problems like time, health and everything else creeps in?

The very first thing anyone needs to do is to take a self-check.

Do you:
  • Treat online businesses like "Businesses" or "Hobbies"?
  • Set down clear income goals for you to work for,
    ie. Your current income per hour AND your goal income per
    hour?
  • Resign yourself to fate when something doesn't work, and
    move on to the next solution? Like, oh it's the information
    overload problem, the missing piece, the imperfection, the
    inexperience, etc...
  • Shift faults to something/someone else whenever something
    doesn't work the way you expected it to be?
  • Erroneously think that penetrating big markets as a major
    player is an easy task?

Treat your business like a business. It's serious, and it's not
something that you play around with. It concerns your bread
and butter.

Stop looking for those one-button push stuff, or those easy
ways out. If you want something, then you need to strategize
and work your way towards it.

Don't react to everything that comes in your way. Be in control.

Be the one that is there at the top of your business. A boss.
Think about whether you really need stuff right at THAT moment.

If you don't, don't get it if it doesn't have an immediate benefit
to you at that present time.

I guess that's just what I wanted to say...
#newcomers #stop
  • Profile picture of the author Young Financier
    No matter how often this advice is repeated, it needs to be heard every single time. I always tell people...there's no substitute for hard work and accurate knowledge. Going along with these so-called prebuilt systems is a recipe for disaster. I actually feel like a lot of this push-button stuff is created to punish people who try to skip the work, not just in IM, but in practically every facet of life. But that's just me.
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  • Profile picture of the author Anonymous Affiliate
    The so-called "internet lifestyle" is closer to "work like a horse" reality than to Tim Ferris' "4-hour a week" BS. I personally dont know any internet millionaire (and I have talked to quite a few) who made it up there without putting in a humungous amount of hours in front of the computer.
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    • Profile picture of the author WinstonTian
      Originally Posted by Sean T Alexandre View Post

      I actually feel like a lot of this push-button stuff is created to punish people who try to skip the work, not just in IM, but in practically every facet of life. But that's just me.
      Ah, someone who understands my pov. I personally find it
      REALLY strange as to why people would intentionally seek the
      "easy" route and harbor faith, as opposed to picking up the
      first brick and stacking it to build their foundations.

      It always starts hard, and it gradually gets easier when we
      build up the skills, and have the assets for negotiation.

      Originally Posted by Anonymous Affiliate View Post

      The so-called "internet lifestyle" is closer to "work like a horse" reality than to Tim Ferris' "4-hour a week" BS. I personally dont know any internet millionaire (and I have talked to quite a few) who made it up there without putting in a humungous amount of hours in front of the computer.
      The "4 hour" thing has been proven to be a marketing gimmick
      of his - you should have seen the huge list of name ideas he
      wrote down. Tim himself works like a horse, while being hugely
      productive by outsourcing a ton of work.

      That's the big thing: People look at the surface, they don't
      know that this "internet lifestyle dream" thing actually takes a
      huge amount of effort to make it work. Sleepless nights, lots
      of networking and tons of stuff before a launch... All that.
      Signature

      Cheers,
      Winston
      The Beginner's Doctor

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  • Profile picture of the author Mark72
    You get out what you put in.

    The trick is to understand the concept of leverage and make your time extremely valuable.

    But you must INVEST time and money in the beginning in order to make that happen.

    A good starting point is to set realistic goals and start moving towards them. Just keep plugging away at it until you start to see results.
    Signature
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    • Profile picture of the author WinstonTian
      Originally Posted by Mark72 View Post

      You get out what you put in.

      The trick is to understand the concept of leverage and make your time extremely valuable.

      But you must INVEST time and money in the beginning in order to make that happen.

      A good starting point is to set realistic goals and start moving towards them. Just keep plugging away at it until you start to see results.
      I know what you mean by that, but really, the growth comes
      when "you get MORE than what you put in".

      That's how real leverage works. For example, you could build a
      huge email list, and if you can exchange those leads for a huge
      conversion in a partner launch, the slanted ratio can drive
      revenues towards a wider profit margin.

      Good point too, making realistic goals. I particularly like setting
      goals at "Income Per Hour".

      When I first started out, it was about like $2 per hour. Then I
      slowly worked my way towards $10... and then so on and on.

      The trick is to squeeze as many profitable activities (that
      highly contribute to your profits) in the span of each hour, by
      utilizing the 80/20 Pareto principle.
      Signature

      Cheers,
      Winston
      The Beginner's Doctor

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  • Profile picture of the author Mark Wightley
    Man, what a great post I think there are so many newbie's out there that should take note from this sort of post.
    Great information and I agree with everything you have said here.

    Keep up the good advice.
    Cheers Mark Wightley
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  • Profile picture of the author MKCookins
    97% people fail to make money online because they simply just try to make a quick buck here and there - without learning the process of how everything works.

    So take your time, work hard and consistent, and above all else help people to your up most best - and you will soon see making money online is actually quite possible!
    Signature
    Fact: Only 3% of people Become Successful Online.
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  • Profile picture of the author Chri5123
    I think another factor is that people don't view making money online as a business when you first learn about it.

    It takes time, dedication and if you can find a good niche that is a good fit and one that is also a hobby you have it made.
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  • Profile picture of the author talfighel
    Yes, you have to work hard but at the same time you need to work smart.

    You can work on one strategy and that one will probably not help you no matter how hard you work. You need to focus on the ones that do work.

    I totally agree that when you get started you do have to work your behind off in creating a system that some how and somewhere will work for you on complete auto-pilot.

    You need to work hard and smart when you get started and then let the system do all the work for you even when you are not there. That is the beauty of the famous "internet lifestyle".
    Signature

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    • Profile picture of the author WinstonTian
      Originally Posted by MKCookins View Post

      97% people fail to make money online because they simply just try to make a quick buck here and there - without learning the process of how everything works.

      So take your time, work hard and consistent, and above all else help people to your up most best - and you will soon see making money online is actually quite possible!
      I don't really believe that they don't try to learn how everything
      works. It's precisely because they try to over-learn things -
      which leads to a huge action paralysis.

      This is highly perpetuated by a ton of "woo-woo" snake-oil
      concepts that are floating around in the market from a lot of
      marketers trying to make a quick buck.

      Originally Posted by Chri5123 View Post

      I think another factor is that people don't view making money online as a business when you first learn about it.

      It takes time, dedication and if you can find a good niche that is a good fit and one that is also a hobby you have it made.
      Exactly. I've seen so many who treat it as a "I'll see how it
      goes" attitude, like they're dipping their toes into cold water.

      Heck, the only way is to jump straight into the cold water, and
      have a feel of the water themselves. Even if you don't like it,
      jump in, and get used to the discomfort... Gradually the
      discomfort fades away, and you're swimming.

      Originally Posted by talfighel View Post

      Yes, you have to work hard but at the same time you need to work smart.

      You can work on one strategy and that one will probably not help you no matter how hard you work. You need to focus on the ones that do work.

      I totally agree that when you get started you do have to work your behind off in creating a system that some how and somewhere will work for you on complete auto-pilot.

      You need to work hard and smart when you get started and then let the system do all the work for you even when you are not there. That is the beauty of the famous "internet lifestyle".
      I think the "internet lifestyle" is too over-hyped, mainly
      because most people don't want a 'rock-star' lifestyle.

      It creates a 'inferiority complex' in entrepreneurs who are
      trying to follow in these 'rockstar' personae. One strategy
      is right, however, as you build your biz, you NEED to
      diversify.

      Spread the costs and diversification is key when you want
      a business to last over a long period of time. You never know
      when a crisis might strike.
      Signature

      Cheers,
      Winston
      The Beginner's Doctor

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