There’s a common “myth” when it comes to making money online.
That myth is there is one simple ‘trick’ and once you figure it out the money will come flooding in without you having to do anything at all.
The reality is that many online entrepreneurs have to hold down a “day job” or “9 to 5” while they struggle to get their business off of the ground.
That’s why the amount of “internet millionaires” is fairly low. Not many people can keep up the pace of working 40-50 hours on a job… then come home to work for several more hours on their own stuff. Especially if you have a family.
Let’s start your rethinking process by acknowledging a few facts:
Starting an online business is a challenge.
Becoming an entrepreneur doesn’t mean that you have to rely on coffee and five-hour energy drinks.
The most successful entrepreneurs have the “right” line of thinking.
Time management is key to your success.
Nine out of 10 new businesses online will inevitably fail.
THAT LAST POINT IS NOT MEANT TO SCARE YOU. IT IS, HOWEVER, MEANT AS A REALITY WAKE-UP CALL.
For as much time and effort as you dedicate to your online business, you must remember that you may not succeed… at first.
Now, this doesn’t mean that you should give-up; in fact, just the opposite. The point is that when you’re just getting started online, you will not make money as fast as you think you can.
And you will probably lose way more time and money that you ever planned to.
Still, there are shortcuts you can follow that will drastically speed up your path to success.
As Aaron Patzer, Founder of Mint, once said: “Solve a real problem. You don’t start a company because you want to be an entrepreneur or the fame and glory that comes along with it. You become an entrepreneur and you create a company to solve a real problem.”
That right there is your first clue to success. Far too many start their online business with one goal: MAKE MONEY. By any means possible.
What most fail to create when just getting started is a realistic plan for success. From my own experience, most business owners will waste years going from project to project or product to product or shiny new tool to shiny new tool… without ever stopping to PLAN.
If you’re just in it to get rich, you will always be poor as you spend all your money on yet another training that promises that you can “get rich quick.”
In only two hours a week.
Without having a website, product, computer or even a penny to spend on marketing.
SO GET OVER THE IDEA THAT YOU’RE GOING TO QUIT YOUR JOB BY THE END OF THE MONTH. INSTEAD, CREATE A PLAN FOR FREEDOM AND FOCUS ONLY ON THAT EVERY SINGLE DAY.
If At First You Don’t Succeed, Try, Try Again making money online
You’re probably not ready to leave your day job quite yet. After all… you have to eat! And while you hear the stories of the person who quit their job and decided they were going to “make it work or else”… the truth is that you are going to fail.
At least once. Probably multiple times.
Why is that?
Because you get caught up in the “hype” and you to discuss the most basic business concepts at the right times.
Here are 3 tips to get you on the right track as you start to make money online.
#1. Failure to Make Time Your Friend
Chances are, up until now, you’ve had a job. Which means that someone else has told you when to start work, what to do at work, when you can go on lunch, when you can go home, etc.
And even if you’re a manager, you still have someone else controlling your schedule. And this “habit” of letting others control your time will kill your success before you start.
We, as humans, are horrible “self managers.” Biologically we are planned to do a little as possible to keep energy so we don’t starve. It’s against nature for us to be productive 18 hours a day.
This failure to manage your time is why you will fail a few times… at least until you “get it.”
And I don’t just mean time management about how you schedule your tasks, activities and day. You can learn that from $1 ebook from Amazon.
No, I’m talking about how you manage time when you are faced with your first challenges.
When you don’t properly address your challenges, they quickly transform into problems.
And unaddressed problems can weaken the foundation of your business to the point where you can not recover.
I’m going to do you a favor and share a few of the most common ones that will pop up when you’re just getting started.
Identification of a market need. A recent survey showed that 42 percent of failed startups had failed to give their chosen market with a product that was actually needed.
This is #1 for a reason. It is the single biggest mistake that new business owners make. You think because YOU love something, everyone else will too.
To once more quote Aaron Patzer, “You become an entrepreneur and you create a company to solve a real problem.”
The startups that succeed are made-up of people who researched, analyzed, and identified needs within a market, before launching their new business. The irony is, this does not take a lot of time.
Yet most people think it is an unnecessary waste that will slow them down, so they skip it.
2. Manage Distractions
We live in a busy world. It seems the more technology we get the busier we become… even though every new app, gadget and device comes with headlines that scream “I save you time!”
Some of them can… IF you use them properly.
The danger is that you can confuse busy work with PROGRESS.
Progress is paramount above ALL else.
I don’t care how many Facebook messages you post, Twitters you tweet, emails you answer, phone calls you take, meetings you have…
If I create a new product and launch it in the same amount of time… I win.
PROGRESS IS ALL THAT MATTERS.
Money love speed.
Unfortunately, the mass of humanity is stuck at a snail’s pace because they refuse to look up from their cell phone or break free from their news feed.
Instead of answering that email, write an email to your list instead and sell them something.
Instead of taking that phone call, set up an ad campaign to bring new visitors to your site.
Instead of buying that training course, buy some traffic instead.
Stop being busy and start making progress.
Grow your business at the right rate. Growth is a good thing. However, if growth
occurs before you are ready, or at too rapid a pace, then this freedom that you so desperately seek can easily transform a business from “the ship that can’t sink” into the Titanic.
This is why the mindset of “I’m going to make $50,000 in a month!” is so dangerous.
Because even if you did make that amount of money, you wouldn’t know what to do with it. Instead of reinvesting it into your business you’d blow it on buying all those nice things that you felt that you deserved.
I know, you think you would never do that. Yet a quick survey of Lottery winners will show the truth.
88% are dead broke within five years. And this includes the ones who received over $100 Million Dollars!
You wouldn’t give a 16-year-old who just got his license a $300,000 Ferrari. (At least, I hope you wouldn’t!).
You wouldn’t do that because he doesn’t have the experience or the respect for the power of that car. He’d wreck it in a week.
The same thing happens to people who become rich overnight. They don’t have the experience or the respect to know how to manage their new wealth.
Instead, enjoy the feeling of watching your business and your income grow over time.
Alright, so let’s sum up that section:
The one thing in common between all those traps is “time.”
It takes time to find the current and future needs of a changing market.
It takes time to correctly manage your daily distractions.
It takes time to gain the experience and the respect to properly handle large sums of money.
Now, that being said, it was the Rolling Stones who famously sang “time is on my side.”
So let’s tackle a few of the ways you can become a productive force without attempting to work 100+ hours each week.
#3. You Have More Time Than You Know What to Do With. So Stop Wasting It.
For a while Social Media was just the elephant in the room. People were aware of it, but thought that if perhaps they ignored it then maybe it would go away.
Alas, today the elephant has become the Godzilla that seeks to continuously wreak havoc on your daily production level.
Despite the many metaphors I could make about social media, let’s instead focus on a few key statistics.
Americans ages 25 to 54 have been shown to spend the most amount of time per day on social media networks and applications.
Adults in the United States check their Twitter, Facebook, and other social media accounts an impressive 17 times per day.
Smartphone users in Thailand, Argentina, Malaysia, Qatar, Mexico, and South Africa check social media and social networking applications an astounding 40+ times per day.
In 2014 (the data for 2015 is still rolling in), the average social media usage time per user was 1.72 hours per day.
Micro-blogging, which includes using Twitter, is up to .81 hours per day; it also accounts for about 13 percent of the total time spent online per day for the average micro-blogger.
It won’t be long before Hollywood makes a horror film about social media taking over the lives of adults in a small town.
The true irony will be that if this type of film is ever made, then all the producers, actors, and media directors will be tweeting, posting, and sharing about the upcoming film on social media multiple times a day.
The moral of the story here is quite simple: get off of social media during the work day, unless you are using it for the following reasons:
Promoting your new business venture to gain an active audience.
Conducting research to best find your target market.
Creating a new social media competitor as your new online business.
Using social media as a scheduled break (and I do mean scheduled, as in you have actually put five-minute social media break onto your calendar).
You are researching potential competitors within your space.
At this point you may be rolling your eyes. Or perhaps you’ve already skimmed to the next section of this article.
SOCIAL MEDIA HAS A PURPOSE… IF YOU USE IT WISELY.
The challenge is that most people use it to escape. They don’t know what to do next in their business or their overwhelmed with how much work they have to do, so they say “just a quick break before I start again.
If this is you, there is a solution. STOP!
When working with new business owners who are just starting out online the biggest excuse I hear is “But I just don’t have the time.”
Yet if I followed them around for a day, I can guarantee that there are at least 2 full hours of their day (if not woefully more) that are completely and utterly wasted.
Here’s a fun experiment you can do: Spend one day and simply track the amount of time that you spend on social media aimlessly scanning through posts, watching videos, chatting with friends, or otherwise procrastinating throughout the day.
Now multiply those minutes by the several days in the year. Suddenly your 30 minute “quick break” time becomes 10,950 minutes per year.
Which is 182.5 hours.
Which equals 22 ¾ of full 8 hour work days!
That’s over an entire MONTH of a full-time job. All from taking 30 minutes every day to play on Facebook.
The reality is that most people spend far more time than this.
From this point forward, you can never say “I don’t have enough time” ever again.
You have FAR more time than you even know what to do with.
Stop wasting it and start making PROGRESS.
And as always, look for best opportunities and I can assure you that Digital Altitude is one of those companies that can work for you and help you further your progress.
See you at the top of the mountain!