Why People Fail at Making Money Online

Make Money Online – Is Failure Guaranteed?

If you haven’t read this before, read it now – More than 90% of people who try to make money online fail.  No one has an exact figure, but the number is pretty high.  If you’re like the average person who tries to work online from home, you’re going to fail.  That’s a pretty high percentage of people to fail at anything. Why is the number so high?  Does this mean that you are destined to fail?  No, of course not.  These are percentages, and while they’re true overall, they’re not necessarily true for any given individual.

make money onlineOn the other hand, those numbers will include you if you fall into the same traps that capture most people who try to make money online.  Is it because it’s hard?  No, because lots of things are hard.  Flipping hamburgers is hard if you don’t know how to do it.  So is digging ditches, handling air traffic control, and teaching third graders.  Everything is hard until you learn how to do it, and if you don’t know how to do something and you try to make money at it, you’re going to fail.

Why Do So Many People Fail to Make Money Online?

That’s what happens when people try to make money online.  They think it’s going to be easy or that it’s not going to be like having a real job, or that they’re going to be making money on “autopilot.” If you think those things, you will fail.  If you want to make money online you have to accept that it’s a job, a business and a career, and you have to treat it like one.  If you don’t, you’ll absolutely fail.

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Listed below are my thoughts on a few of the things that tend to bring about failure for those who try to make money online:

90% will fail - don't let it be you1. Thinking it’s going to be easy or that you’ll make money on autopilot – This is a job, like any other.  You’re going to have to learn how the industry works.  You’re going to have to learn how to use the tools that are required in this business.  You’re going to try some things that don’t work and you’ll have to take the time to assess what went wrong and try to do it again in a different way.  You’re going to accept that you’ll likely be doing something every day in this business and that making money on autopilot is largely a myth.

2. Not recognizing that your goal may be a moving target – I rarely see this issue addressed anywhere, but the “moving target” problem is a big one.  If you’re trying to make money online, you’re going to have to be able to adapt.   Products change.  Markets change.  Search engines change.  Five years ago, I was making a lot of money promoting electronic cigarettes as an affiliate.  The products were new and interesting and affordable and millions of people wanted them…and then they became a commodity.   The major tobacco companies began to sell them and today, you can buy them inexpensively at any convenience store.  Once they became available on every corner, the ability to make money online in that niche went away overnight.  I don’t care what you’re doing to make money; you’re eventually going to face the prospect of that particular thing not working anymore and you have to be able to move on to something else when that happens, rather than try to keep it going past its expiration date.

choose carefully 3. Choosing a poor niche – This is a common problem and it’s rather broad in scope.  Choosing a poor niche may mean choosing one that isn’t profitable or choosing one that’s overly competitive.  It might also mean choosing one in which you have no interest.  Whatever it is you choose in the way of a marketing niche, you are going to be spending a lot of time with it.  If you’re not interested, your Website visitors are going to know, and that will make itself apparent in your earnings.  Before you jump into trying to make money online, take the time to choose a niche that interests you, that interests others and that offers the potential for making a reasonable amount of money for you.   A common mistake is to pick a niche simply based upon the size of the potential commissions.  There are sites out there that will pay $100,000 commissions for sales of commercial aircraft, for instance.  But if you don’t know anything about airplane sales, don’t have any interest in airplane sales and don’t have a clue about how to market 200 seat airliners, you’re going to run into trouble.  Picking a niche is really important.  Take the time to do it correctly.

4. Impatience –  This is a growing problem and a bigger one than it used to be.  About ten years ago, Google was really picky about adding sites to their index, depending on the niche.  Some sites got added the index almost immediately.   Other sites, especially in niches relating to finance, might not be indexed for six to nine months.  Back then, you simply had to accept that quite a lot of time was going to pass before you even had the chance of getting any traffic from the search engines and correspondingly, making any money from search engine traffic.  Things are different today, as search engines often index new sites within 24 hours and with social media and pay per click advertising, a lot of people think they’re going to start making money immediately.  Worse, they often become despondent when they don’t.  Building any kind of business takes time.  You might make money in a week.  You might make money in a month.  It might take six months or longer.  It depends on a variety of factors and not all of them are under your control.  Be patient, and keep building a Website that people will want to see, with information people will want to read.  In time, the earnings will come.

Failure to Make Money Online Summary

You don’t have to fail trying to make money online.  You need to be patient and understand that like any job, success comes with time and effort.  You also want to make sure that you know what you need to know to succeed.  In the make money online niche, there’s a lot to learn and you’re not going to learn it overnight.  A great way to learn how to make money online is to join Wealthy Affiliate, an online training site with dozens of tutorials, a great member forum and a thorough curriculum for teaching you just about everything you need to know to succeed.  If you aren’t sure where to start or think you may have started off in the wrong direction, you should pay Wealthy Affiliate a visit.  You can even join Wealthy Affiliate for free.

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