Irrespective of what the current economic conditions may be there remains one constantly booming market place that has also become the economic wasteland of so many people – the Internet.
Far too often there is so much wasted time, effort and money online!
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Every day thousands of people flock to the internet seeking their fame and fortune only to reinforce the crude statistics that less than 3% will survive even 90 days online let alone achieve their lifestyle dreams.
Its true there is a plethora of ways to make money on the internet in almost any market niche you could imagine.
Sadly, despite all the initial enthusiasm and huge opportunities that promoted almost daily, many if not most of these budding excited online entrepreneurs will fail and in very quick time!
The internet is full of horror stories about people being duped and losing everything.
Thousands of people every single day make irrational and stupid decisions that can and often does eventually ruin them financially and emotionally.
But don’t think for a second that this is the major cause of so many online failures.
The problem is not their lack of skills or their limited time or money to invest in their new venture. By far the biggest reason people completely fail to make money online in any niche is that they fail to take action.
People may have invested hundreds or even thousands of their hard earned cash into whatever business opportunity or product that took their fancy. And despite their initial enthusiasm they simply fail to fully implement what they have just purchased.
This is simply where for whatever reason, people rush from one opportunity or offer to the next like crazy robots never giving themselves the chance to maximize their return on investments.
In fact more often than not their ROI is zero and always will be!
This unfortunate trend is not helped by some less-than-honorable internet marketers who prey on people just like this with promises of untold overnight wealth and luxury with the simple click of a mouse button.
And these desperate people believe this!
People just seem to lose all common sense when online.
If you are a new online marketer accept that you don’t have to be an expert and know everything there is to know about something before making a start.
Just make a start and get going, even with imperfect action – otherwise if you wait for perfection it will never happen and you will fail…again!
The other thing is you don’t have to do everything yourself. Those new online marketers who do succeed more than often either come up with a new product or offer that the market craves for or they work with someone more experienced or both.
There are lots of free tools available on the internet to help you and you can even outsource some of the more mundane tasks very cheaply using a virtual assistant.
Simply by doing this will at least keep you focused on the main tasks you have.
Your primary actions every day must focus only your income producing activities. These are driving targeted traffic to your site of offer; converting the leads that arrive at your site by encouraging them to take the actions you desire and finally make sales to these leads.
These 3 “must do” daily actions are usually unknown or ignored by most new online marketers who are busy chasing the next business opportunity or spending wasted time and effort perfecting the look and feel of their site, their video, their blog post etc.
Taking focused action will also help overcome that other huge “failure magnet” for new online marketers – information overload. The internet bombards you every day with information and with new marketers also constantly searching for that next “sure winner” it’s no wonder that people end up totally confused, frustrated, angry and broke!
Too much information will absolutely destroy all that initial enthusiasm and literally kill even the most eager of entrepreneurs.
The message here – keep focused!
Many new marketers fail to appreciate that in order to survive online they must provide quality sought after content. Value is usually in the form of solving someone’s problem in the niche you have elected to focus on. If you don’t provide this valuable service to your website visitors then you will fail online.
Most marketers fail to realize the web is “information driven” and you must supply quality information or content in order to truly succeed.
Some new marketers claim they failed because they lacked the skills to make a success online. But really you do not need many skills apart from the ability to communicate.
One other major reason why most online marketers fail is a lack of persistence.
These new marketers so often just give up too soon. They try something for a few weeks, even for a few months and then decide that it’s not working as they planned and the result – they give up often when success for them may have been just around the corner!
People these days are impatient. For the vast majority of new internet marketers who are lured by promises of instant fortune this is a never-ending cycle of fear, failure and frustration.
Until people accept that like any offline business, an online business takes time, patience and persistence there will continue to be thousands of people every day experiencing failure and all the economic and social negative impacts that comes with this experience.
Of course there are always exceptions to this very common story of failure but sadly in real life they are few and far between.
Some thoughts about how best to minimize your risk of failure include…
- avoid creating debt higher than you can currently manage
- pick a market you are passionate about and have tested its viability
- look for and connect with experienced and honest coaches/mentors/partners
- work with persistence and total focus on the key income producing activities
- always value your time
- if something is working stick with it and keep investing in it until the returns begin to diminish
- re-invest your early profits to grow both your skills and your business faster
- always test and track everything you are doing
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