Commitment Needed to Earn Money Online

Welcome to the world of ‘Making Money Online’ or should I say ‘Trying To Make Money Online’? You see the stark fact is that most people spend more money trying to be successful online than they actually ever earn online. Sad isn’t it?

To be honest, compared to the benefits, one of the easiest things to learn is how to become self-sufficient online, especially in comparison to most high-earning professions where you need years of training. Plus, there is a relatively low expenditure compared to setting yourself up in most new self-employed ventures. Still, as I said, most people fail, with possibly as many as 95% never achieving self-sufficiency. There are various reasons for this:

Lack of time

Most people attempt to start making money online as a part-time venture outside their normal ‘day’ job. Now these days there are ample distractions for your spare time, so finding enough time to earn online can be a challenge.

I spent 3 months of full-time effort to learn about Internet Marketing and Affiliate Marketing, just to assemble a grasp of what it entailed and how it all fitted together, before I started to put together a plan of how I was going to make a comfortable living.

Even then there were complete chunks of knowledge I hadn’t studied and this was with a background of 30+ years working in IT.

So if you plan to do this part-time, you need to have a serious commitment of your leisure time to grasp the basic knowledge to begin to be profitable. The rewards, of course, far outweigh the commitment, but it is still a serious commitment.

Lack of knowledge

How do you get the knowledge to become successful online? There are various avenues available to you, at a variety of costs and timescales. Generally the expense increases as the time to learn decreases.

One of the best ways is to get a successful marketer, or guru, as your mentor or coach. This is expensive, but has the highest chance of success and you can be up and running very quickly. Most coaches or mentors are driven to see you successful as it helps establish their reputation. There are also side benefits for them, as they can use you to promote their products, so the more successful you are, the more of their products you sell.

At the other end of the learning scale are online training courses or packages, which can be relatively cheap, but there is very little hand-holding if you get stuck. It is also very easy to slip into the habit of just buy, buy, buying, once you get into this area, as marketers will target you with more problem-solving packages, which can become hard to resist. I speak from experience 😉 .

Poor planning

This is related to the time element. With limited time available you have to plot your course to success and stick to the plan. It is so easy to get side-tracked by the newest thing on the block. In the early days I got pulled from one money-making idea to the next and nothing came to fruition. I still have partially completed projects sat on my computer that was my ‘flavour of the week’ but never saw the light of day, let alone turned a profit.

So make a plan and stick to it. Don’t veer off the plan without updating the plan first. That way you can see what the change means to your target date and your profitability schedule.

Lack of focus

This can be closely related to the above, but does cover other areas. Facebook is a time killer – so make sure you turn it off when you work, or if you are disciplined enough, only check it every 2 hours or so. It is so easy to lose yourself for hours following all kinds of threads.

Emails can also be a distraction, plus television, internet surfing, kids, spouses, telephone calls, texts, etc.

This is your business, your channel to a better life, so treat it like one. Tell your family they must not disturb you, but explain why. Tell them 12 months down the line they will have more of your time, better holidays, better car and a better future, but for now they need to give you space to build your dream.

Laziness

Guaranteed to kill your dream like nothing else. If you haven’t got the work ethic needed to put in a proper shift then stay away, because you are only kidding yourself and in the long run it won’t do your self-esteem any good when you fail.

This is your business so work harder than you would expect any employee to work for you and you will do well. Unfortunately many people want to work for themselves because they hate work in general and see it as an easier life. This may come to fruition, but to begin with you need to work harder than you have ever done before in your life.

Lack of investment

This covers some of the topics above such as your investment in time and knowledge, but it also covers monetary investment. You need the right tools for the job, the right training, and ultimately, you are going to have to invest in buying traffic to drive people to your offers.

Most businesses involve some investment, so you need to be able to raise some funds to bank-roll your venture. It is possible to start with very little capital, assuming you have a computer and internet access, but you will have to invest lots of time into growing your business using free methods, so you can raise some cash to start investing properly and take your business to the next level.

If you can commit to re-investing money made back into your business in the early days, without taking an income from it, you will become self-sufficient much faster.

Inaction

Ok, this is related a little to laziness and planning, but you can also get sucked into a cycle of constant learning and never producing anything. You can liken this to someone who wants to know every detail about good nutrition before they lose weight, so they are two years down the road before they put their diet plan into action. You need to make sure you use the skills you learn by using them. This cements your new found knowledge and helps you pinpoint where you still need further development and believe me you will always need further development.

Taking imperfect action is much better than becoming perfect but never using your skills.

 

So there you have it, my brief overview on how to get going in making money online. There are so many areas I haven’t even touched yet, such a niche choice, product types, marketing areas, social networking, etc. The list is endless and in constant flux, but the goal is obtainable. It just requires a certain level of dedication and commitment from you.

Please feel free to sign up for my newsletter and join my Facebook group for further insights. I will be posting regularly on the subject of online marketing, especially internet marketing, so please pop back regularly to see my latest outpourings.

To your success . . .

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