The truth about IM from successful IMer

32 replies
Hey guys. This post is not to bring you down or for you to lose hope but I want to be clear about IM in general.

Here are some pointers and what to expect.

1. I would definitely start selling on Ebay or Amazon since the sites are very popular and established however don't make any mistakes whatsoever! What I mean is that a few back to back mistakes will get you kicked off the site. My cousin was making $8000 a month on Ebay for many years and he took a small vacation, a few negative feedbacks came in (back to back) and he was booted. Poor guy lost 90% of all of his income.

2. Its a good idea to open a site but be prepared to work on it forever. You have to push and push and push. Each push will bring you an inch closer to your goals and pushing a custom website takes a LOT of pushes to make popular. I've pushed a few sites and got 2 to popularity level but each one took at least a year of pushing before it got to that point. The idea is to make money on amazon/ebay while your pushing your sites.

3. Be prepared for catastrophes. There are people who make $10,000 a month and lose it all over night. It happened to me once when I was at 15k a month. When you lose it, its gone. It can happen for no reason at all! One dude had a squidoo empire where he spend every day writing articles and the whole thing sunk with NO explanation as to why he was shut down. Another guy lose a million dollar Ebay account. It CAN happen so don't put all of your eggs in one basket. Spread it out as much as you can.

4. Pay your taxes asap. I understand that some people have children and are making $500 a month but you really have to get into paying taxes asap to avoid future problems. For example, some IMers make $5000 on year one, $50,000 on year 3, then all of a sudden they make $150,000 on year 5 but they never paid taxes and it can become a problem. Paying is your best bet even though it sucks.

5. Always check your emails/phone calls every day even on Sunday. Buyers don't care about your days off. Keep them happy and avoid bad feedback.

6. Be prepared for lots of fraud. People will use unauthorized cards all the time to purchase. Learn about online fraud control.

7. Be careful when in a dispute with buyers. They usually in UNLESS you provide massive amounts of proof to back your claim. You will usually lose though. I am hoping this changes in the future.

8. Remember that is certainly is possible to make a 6 - 7 figure income every year but its not easy to get to that point. You have to climb the wall of chaos to get there. Just keep at it but make sure you are properly funded in the meantime for regular life stuff (food, rent). Don't just quit your job. Stay in your job until you have seen a steady income for AT LEAST 3 months straight.

9. Get into something you like. If you hate writing, don't go writing all kinds of blogs for an income. Do what you truly love and you will excel at it. There are tons of options so pick the one you love most.

10. If you want to really pursue this. Don't give up. Keep on pushing and building on 1 - 2 projects but I would recommend just 1. Once you get the 1 right, start a 2nd but don't overwhelm yourself.

This is truth of it all. Its not easy and it can be catastrophic. Many lives were ruined and fortunes lost but even then, some continued to pursue IM until they were successful. You can do it, but put your war-face on before getting into this.
#imer #successful #truth
  • Profile picture of the author Reda Lagrana
    Good tips, thanks for the share Albert.
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  • Profile picture of the author Kasparas
    I agree, this is excellent advice, especially 10 can't be stressed enough, as this is where many newcomers fail. They spread their attention and other resources on a number of projects and don't get far with any of them.
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    • Profile picture of the author NetJunkie913
      Originally Posted by Kasparas View Post

      I agree, this is excellent advice, especially 10 can't be stressed enough, as this is where many newcomers fail. They spread their attention and other resources on a number of projects and don't get far with any of them.
      This was my issue in the beginning. I was drowning in opportunity. "Win the battles you are in first, before moving on to other battles." -Mark Cuban
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  • Profile picture of the author DavidOlsen
    Excellent post!

    Sadly, the real internet lifestyle is all about staring at a computer screen not laying on the beach.
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    • Profile picture of the author greenowl123
      Originally Posted by DavidOlsen View Post

      Excellent post!

      Sadly, the real internet lifestyle is all about staring at a computer screen not laying on the beach.
      I would say staring at a computer screen for about 3 to 5 years (less if you are a genius, which I am not).... then laying on a beach after your list is big enough or your blogs are getting mad traffic.
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    • Profile picture of the author Taniwha
      Originally Posted by DavidOlsen View Post

      Excellent post!

      Sadly, the real internet lifestyle is all about staring at a computer screen not laying on the beach.
      You can't lay at a beach while staring at a computer screen?
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      • Originally Posted by Taniwha View Post

        You can't lay at a beach while staring at a computer screen?
        lol

        Win the battles you are in first, before moving on to other battles." -Mark Cuban
        STICK TO ONE STRATEGY.
        Thanks 4 all great advices !!
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  • Profile picture of the author chall
    Thanks for the advice.Just goes to show ...if you want it bad enough, then you have to work hard to get it.
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  • Profile picture of the author AdamPayne
    Some great tips there. All important but #5 really hit home.
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  • Profile picture of the author workoutstuff1
    Nice. The IM world is definitely a jungle!
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  • Profile picture of the author JCorp
    The internet, "virtual lifestyle" that we all dream about IS possible... but as already stated... it takes work... what business doesn't? Anything worthwhile takes effort... takes work.

    I'd like to add another point... stick to it. Don't jump around from one thing to another, to another and then another... sure, get an idea of the different strategies, and then move into the direction that you see yourself working in for the long haul... then stick to it. Work it like a business, every day... and you'll succeed.

    The PROS, the benefits... the lifestyle that can be had... is well worth any effort it takes to get there.
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  • Profile picture of the author datingworld
    5. Always check your emails/phone calls every day even on Sunday. Buyers don't care about your days off. Keep them happy and avoid bad feedback.
    That's very true.
    Buyers / Customers / Clients; they don't care about your time off while they themselves enjoy their free evenings, Saturdays and Sundays.
    If you are online business, people expectations are high and they expect your customer service to be available 24 / 7 (not a pleasant expectation from online businessess )
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  • Profile picture of the author athlon24
    And the reality, only 10% or even lower keeps on pushing. That's why only 10% IMers succeed...
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    • Originally Posted by keyforge View Post

      And the reality, only 10% or even lower keeps on pushing. That's why only 10% IMers succeed...
      Sad Fact, but no pain no gain.

      Thanks for the advices & tips Albert12
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  • Profile picture of the author kencalhn
    good points. another one, thinking about my wife for example, is you really need to become comfortable with technical things, at least a bit, like using html/css, ftp, and more...even if you're just doing wp blogs you still should know css tags, plugins, troubleshooting, a lot more tech than you might think at first, can present a challenge for newer folks.

    i like your point about focusing, and pushing, that's key
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  • Profile picture of the author StanHyeck
    Originally Posted by albert12 View Post

    1. I would definitely start selling on Ebay or Amazon since the sites are very popular and established however don't make any mistakes whatsoever! What I mean is that a few back to back mistakes will get you kicked off the site. My cousin was making $8000 a month on Ebay for many years and he took a small vacation, a few negative feedbacks came in (back to back) and he was booted. Poor guy lost 90% of all of his income.
    I disagree with you completely here. Someone getting started should sell niche products as an affiliate (clickbank, commission junction, clicksure, etc). Selling on Ebay or Amazon ties your income to that one company and that's never a good idea.

    2. Its a good idea to open a site but be prepared to work on it forever. You have to push and push and push. Each push will bring you an inch closer to your goals and pushing a custom website takes a LOT of pushes to make popular. I've pushed a few sites and got 2 to popularity level but each one took at least a year of pushing before it got to that point. The idea is to make money on amazon/ebay while your pushing your sites.
    ...or ...

    You could learn about PBN's and rank your sites quickly.

    I will agree that making it online over the long term really is about "stick-to-it-ness".

    Create an "online business asset" every single day (I talk about them at this post here) ... EVERY SINGLE DAY ... no excuses, no bs, no checking your email first.

    This probably is what you're talking about with "pushing" ... however ranking well really doesn't (and honestly shouldn't) take a year of time.

    3. Be prepared for catastrophes. It CAN happen so don't put all of your eggs in one basket. Spread it out as much as you can.

    4. Pay your taxes asap.
    Agree with both of these absolutely. Multiple streams of income ... pay your taxes. The government has proven to be "unkind" to those that don't.

    5. Always check your emails/phone calls every day even on Sunday. Buyers don't care about your days off. Keep them happy and avoid bad feedback.
    ...or ...

    Pay something like $40 bucks a month for a service to do it for you. Most of us really don't get that many calls.

    6. Be prepared for lots of fraud. People will use unauthorized cards all the time to purchase. Learn about online fraud control.
    Honestly this has been a tiny bit of a problem, but only a tiny bit. Learning about it helps and using a payment processor that does much of the work for you helps more.

    7. Be careful when in a dispute with buyers.
    I agree ... be VERY quick to issue refunds!!! Chargebacks can become a nightmare with your payment processor.

    8. Remember that is certainly is possible to make a 6 - 7 figure income every year but its not easy to get to that point. You have to climb the wall of chaos to get there. Just keep at it but make sure you are properly funded in the meantime for regular life stuff (food, rent). Don't just quit your job. Stay in your job until you have seen a steady income for AT LEAST 3 months straight.
    I disagree that it takes a year to get to a 6 or 7 figure income ... sort of. I struggled for NINE years, but that was because I didn't focus, kept chasing launch hysteria, kept buying crap, never did anything for long enough to allow it to work.

    However once I actually FOCUSED, it happened in 3 months.

    So I disagree that it takes a year, but I agree that someone should keep their job and their regular income flowing until their online business is making enough.

    9. Get into something you like. If you hate writing, don't go writing all kinds of blogs for an income. Do what you truly love and you will excel at it.
    AMEN to this one! If you get into something that you wouldn't mind doing ANYWAY, even if you weren't going to get any money for doing it, then success often happens quite a bit faster.

    Plus, if you keep your job you can afford to outsource the things that need to be done but you just don't want to do.

    10. If you want to really pursue this. Don't give up. Keep on pushing and building on 1 - 2 projects but I would recommend just 1. Once you get the 1 right, start a 2nd but don't overwhelm yourself.
    Another solid piece of advice. The number one cause of failure is not sticking to it long enough and quitting when you're five feet from the largest gold find in US history (yes, that happened)

    You can do it, but put your war-face on before getting into this.
    I don't know about the "war-face" bit either. Look, it's about simply deciding you're going to make it and doing what it takes to make it. Build an online business asset EVERY DAY.

    The first thing you should do when you get up is ask yourself one simple question.

    "Today I can make excuses or I can make money, which one am I going to do today?"
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  • Profile picture of the author oneseo
    Banned
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    • Profile picture of the author StanHyeck
      Originally Posted by oneseo View Post

      IM is the fastest changing industry ever.
      Not really.

      What worked in 1996 didn't in 1997 and the game has evolved so much that it is almost changing in huge ways daily.
      Not true at all. Drive traffic to a landing page that captures email. Sell to your email list. That same model worked in 97 and it works today.

      That same model is in use by EVERY IM guru there is.

      At most you might say that the ways you drive traffic have changed ... but even then not really. SOURCES have changed but the methods are largely the same.

      Ezine advertising worked in 97, it works today. Google PPC started around 2001, it worked then, it works today (though I have shifted to using facebook, but I'm liking what I'm seeing with google+ so I might shift back at least some).

      Banner ads (so-called "media buys") worked then, it works now.

      It's a little late to get into the game, since a 10 year or even now a 20 year veteran would have forgotten more than a newbie will ever learn.
      Baloney. False. It is no more difficult (or easier) now than it was 10 years ago.
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  • Great post. It is good to hear the negatives once in a while rather than just all the smoke most IMers try to post.

    Thanks

    Michael
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    • Profile picture of the author insidmal
      +1, from experience.

      The 1 Project is absolutely key. I made a huge error of starting 2 products back to back and it was a nightmare, I was learning so much still from the first that the second had little hope, and splitting the focus hurt both, it slowed things down a lot. Focusing on one thing until you've mastered it is definitely the key, and will get you to that end point faster than trying to juggle multiple things simultaneously.
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  • Profile picture of the author Sarah Operman
    Great tips, thank you for sharing.
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  • Profile picture of the author christophercuna
    Great post.

    I realized that it took me a lot of time before my content service took flight. I had 6 months of work where I barely had any pay. When you reach the point of profit. It will keep going higher unless of course, you make a mistake or things go an unfortunate turn like OP has stated.
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  • Profile picture of the author kevin timothy
    Very, VERY good read for me. It's always
    nice to have a perspective from someone
    that has seen the results.

    Could you touch on what you think the
    direct connect is with having eBay/Amazon
    experience to getting IM success?

    What do you think that is?

    What's gained from eBay/Amazon selling
    experience that helps the most in IM?
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  • Profile picture of the author aaronblevins
    Love this post Albert. Number 8 and 10 are my favorite!
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  • Profile picture of the author clever7
    This really is a great post!

    Your third tip really is important. Many people are making money thanks to an online company, but many strange things happen online… You can really lose everything in a day.

    I was a victim of Squidoo recently. They locked my 82 lenses ‘by mistake’ for almost a month, and than they simply unlocked them, without any explanation.

    I also was a victim of Amazon’s ridiculous review system. My Kindle book was attacked when it was at the top after a free promotion, and I got four offensive negative reviews that were not about the book, but Amazon doesn't remove negative reviews. They force us to cover the reviews from anonymous aggressors with new positive ones… because this movement helps the site make sales.

    All these companies are tricky and nobody can investigate what they are doing. It’s a bad idea to depend on them.

    I also was a big victim of Google’s algorithm changes and their ‘sudden’ interest on organizing the messy web, like almost everyone else.

    Working online is a dangerous matter. You never know what can happen tomorrow. So, spread your eggs everywhere. You should never depend on one or two online companies.





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  • Profile picture of the author lastreporter
    All true. I have had several online incomes drop 60% overnight because of changes in search engines, Amazon and eBay policies. Also fraudulent customers are growing and getting slicker at ripping me off.

    I have found, on average, I have to change my businesses every three years tops. So far, my best online income has lasted four years before it evaporated.

    That's the nature of the beast. Things change, monopolies rule and you have to learn to navigate around them and stay a step ahead of them. Not easy, but possible.
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  • Profile picture of the author Geri Richmond
    Hi,

    Being in the IM niche, just like any niche is time consuming but, before you do anything, do your research. You want something solid and you want to be able to make passive income. Once you have put in the work, you can collect money for years to come.
    One of these venues is Article Marketing. Big passive incomes are made with Article Marketing but, you have to be able to write at least 5-10 articles a day, including Saturday and Sunday. The whole idea is to saturate the market with your articles. In 6 months you will have enough articles to coast through the next 6 months. Nothing is guaranteed, but, article marketing has been around a long, long time.
    Good luck on what you decide.
    Geri
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  • Profile picture of the author Randall Magwood
    Shoot... mistake number 1 was trying to sell on Amazon.
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  • Profile picture of the author TimothyTorrents
    I agree with all of these points. There are too many people out there who quit their jobs to start working online only to realize that its quite difficult to make a considerable amount of cash in a short period of time.

    I would add another point, one that most of you are familiar with, but some newbies might find useful.

    STICK TO ONE STRATEGY.

    That's it. Stick to one strategy and work at it - focus - don't change your mind half-way through.
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  • Profile picture of the author Gordon King
    Nice post and thanks for the honesty!
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    • Profile picture of the author Dani78
      Great advice! that's why I strive not to depend on just one income source. one is the worst number in business.
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  • i'd prefer a smart work rather than work hard.that's the im bolded line.
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