Will the People Who Are Actually Making Money Online Stand Up?
There are two loud sounds buzzing loudly in the "make money on the Internet" space every day.
1 - Buy this product, follow these steps, read this blog and get rich online.
2 - I've bought a lot of stuff and I'm not making any money online, yet.
The missing voice is the one saying they ARE making money online. If you remove the testimonials of those with large lists who need only press a button and send an attractive offer to a pre-qualified group to make money, and the claims of those trying to sell their system or product to other Internet marketers - there would be a deafening silence.
Why are there so few success stories?
Some would say that the people who are doing well in non-Internet-marketing niches are quiet because they are busy doing the business and don't feel the need to brag or to disclose their strategies (unlike those peddling their methods.)
This is a fair theory, and I know for a fact the these people exist and are silent for the exact reasons listed.
"But, when you add up all the folks posting to forums, on chats on Ustream.tv shows or other training courses and teleseminars it is clear that most folks in the market are NOT making much, or even any, money."
Why?
IMHBAO (In my humble, but accurate opinion) the biggest reasons most people are doomed to failure in making money online are:
1 - No real grasp of the basic fundamentals of Internet marketing like: how to drive traffic, choosing a proper niche, how to create a converting offer - and improve it by testing, how to capture emails and follow up profitably, creating a backend and/or designing a continuity program for consistent profits.
2. Over focus on traffic - and not enough time spent learning or working on what to do with the visitors once they arrive - ie: how to monetize their site.
3. Lack of motivation, success, personal development and encouragement or "work from home" skills to maintain a positive attitude when the going gets tough.
4. Lack of real access to a mentor. You can buy all the ebooks you want - but you'll never get the explosive results you can get from having a successful, experienced mentor to translate the subtle nuances of combining the fundamentals with current tactics from social networking to increasing conversions.
I've been giving this whole problem a lot of thought.
I've already created a Motivation Success Club for only $9.95 a month - it even comes with a FREE 7 Day Trial so you can check it out without spending a penny. This is the first time I've mentioned it.
Some of the ideas I've considered are a $19.95 monthly content membership - but even though the information would be valuable - I wonder how much of it will just end up being part of the noise that isn't helping most people?
I thought of creating a $97 a month "Mastermind" type group where I could do site evaluations, live calls, teleseminars, case studies and answer questions in a forum to give people greater access to me and where I could actually answer some REAL questions, concerns, and help people break through.
But, how much attention could I give 100 people? I'd have to have at least 100 to make it work - and that doesn't count taking affiliate commissions out of the $9700).
I look at what some coaches are doing in charging $500 a month for unlimited email support - and $1000 for email support but adding 2 - 45 minute live one-on-one telephone calls.
I've been in programs for $500 with an hour on the phone and a monthly teleseminar and some content each month - and I got a lot out of them - but it was never really enough.
So what I'm leaning toward is a price point that let me focus on 20-25 people only - and give them unlimited telephone and email support.
This way I could really take individuals to a much higher level of success. It would get results.
A few years ago I figured out that my great passion was learning new ideas that help people in their business and in their personal lives and teach them to others to help them experience freedom and make more money and have more success.
This is why I attended to seminary and became the pastor of a church, taught classes, became a professional trainer and then speaker and written each of my 11 books. This is who I am.
I'm going to sleep on this whole thing - and hope you give me some good feedback here? I really appreciate your input and your support.
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Comments on Will the People Who Are Actually Making Money Online Stand Up? »
Rick,
Good post. People need the step-by-step process. Not all of them, but because of all the noise many get lost on what to do next. Then the dreaded Analysis Paralysis sets-in. I have that issue at times.
Have you thought about pay-per-performance? I know your probably thinking…"What?" But if somebody came out with something like that and guaranteed if the participant works, they could make money online if they followed XYZ steps.
Greg
Greg the Niche Blog Dude's last blog post..Dumb Down Your Copywriting
Greg
I love pay per performance in general. I'm a big fan of Seth Godin - he had a chapter in The Big Moo about Purple Cow applications - called "What if Everything Were Free?"
The focus was on businesses relying on their customers paying them for value.
The huge challenge with this in the consulting/coaching arena is twofold.
1. I worry about the sort of mindset the person attracted to this deal would bring to a process that requires that they must work - and essentially change their behavior from failure to success.
2. With no money on the line - I think it's human nature to treat even the most valuable resource with the "rental car" syndrome - and not step up.
In sports a coach does everything he can to get the athelete prepared to win - but the athelete must execute and those who do, win.
Thanks for taking the time to comment!
Rick
Agree with you.
But I think a big reason a lot of people fail in internet marketing is FALSE EXPECTATIONS.
So many products peomising to make the purchaser rich overnight if you implement this or that. And they run out and buy the product and faithfully implement the tips and nothing happens….So they quit trying so hard
Most of the tips probably work, but it is a business, affiliate marketing and it takes a lot of hard work and dedication and time to see a cheque
I think I got my first cheque 4 months after i came into the business.
Could easily have quit in those 4 months but glad I didn't
Ami | Niche Traffic and Ethical Marketing's last blog post..Title Takes It All, Decrease Website Traffic?
I am so glad I found your Blog.
We share so much in common.
My recent Membership site, Beginners Marketing Class, is dedicated to the same principles you espouse.
Looking forward to more.
Pay for performance is a great model except you'd lose those who buy and never use the product/service. Most people that buy books read the back cover, then the front, then maybe crack it open and read a few words, lying it down to "read later." Naturally we all want our good work to make a difference, but it is still up to the client/customer to make that decision.
I'm a weight loss coach and offer unlimited email follow-up to my clients. I send reminders and my materials speak of the benefits from communicating with me to get more out of the process, yet, the minority take advantage of that important aspect to the coaching relationship. You can lead a horse to water but you can't make them send you an email.
So, while you consider how many clients you could effectively serve, I'd still factor in the "no-shows." I've done this myself and it made me realize how it is that someone can offer unlimited anything.
Hey Rick,
I happen to be one of those people making a great living on the internet. No list, not smart enough to do real SEO and too lazy to do social site marketing. I get my traffic the old fashioned way. I buy it. I have recently started tutoring a handfull of other PPC marketers who were referred to me by one of my affiliate managers. These were affiliates who had the "drive" but not necessarily the skills or proper guidance. I set up my own "Pay for Performance" model with my affiliate network. I coach the students and get an override from the affiliate network on their performance. They are motivated because they are paying for clicks and I'm motivated to help them becuase I only get paid if they are successful. A system like this wouldn't work in all situations, but it's been good for me, the students and the affiliate network as well. The search engines selling the clicks can't be dissapointed either. It's a circular win!
BTW, I seldom post to blogs, but I saw you speak at a conference last year and really enjoyed your sense of humor and delivery. Keep passing out the good energy.
Hi Rick,
I find your honesty and forthright approach quite refreshing. I get SO TIRED of being condescendingly marketed to by the world of Internet Marketing gurus.
In my experience, the reasons why I have struggled so to make money are as follows:
1. When I began, I didn't have a CLUE what to do or how to do it. I greatly underestimated how much I would have to learn.
2. I did NOT have a well informed and trusted mentor. I tried learning from ebooks. Big mistake.
3. I tried multiple things that I thought would work, but didn't. I did adsense sites. Google still owes me about 45 bucks but they won't mail it until I get over 50. Simply not enough traffic to make any money on adsense. I tried some mini sites with affiliate products. Few sales, bad commissions. I tried SEO, got bad advice and my site remained like a lonely bus stop in North Dakota.
4. I didn't understand the value of outsourcing OR paying big bucks for individual attention from a COMPETENT mentor. I paid some money to some grossly incompetent mentors because I made some bad decisions in buying the BS fed to me by salesmen for the incompetent mentors.
5. I am a technical moron and didn't have the proper web tech training. On this one, I was sorta too stupid to know how much I didn't know. Here again, I tended to underestimate how hard the tech stuff would be for me. I didn't have enough money to just hire someone competent.
I have kept trying and I think I'm almost there. I feel like I have the attitude of a 49er. Mother load's just over the hill! Some of my friends pitched in and bought me a straight jacket.
I'll make it eventually because I have finally managed to wade through the gargantuan cesspool of internet marketing hype and come up with viable plans that I can implement.
So stay tuned. I'll be rich yet. That is if I can find a place to plug in my computer once I'm living under that bridge.
Perhaps I've finally found a diet plan I can stick with! Eternal poverty.
There is no doubt in my mind that to really help your average person like me, it would take a mentor with tons of experience and the patience, ability and willingness to spend tons of time with them on an individual basis. Webinars and broad strategies are GREAT, and any good coaching program would have them, but each of us have our individual talents and skills and each business needs individual thought and consideration.
Too often, I hear gurus claim that none of their students succeed because their students are all too lazy to actually get off their tooters and work. Well, no doubt that happens a lot. Some people are glued onto their tooters watching trash TV. But it's also true that many people are legitimately busy trying to survive and simply don't HAVE the HUGE amount of time it actually takes to develop an online business. Sales headlines can scream all they want about how simple and quick it is and any monkey could do it, but that's misleading sales hype in my opinion.
I think the truth of the matter is that it's more confusing and difficult than sales headlines are willing to admit and most people give up against the overwhelming odds.
I guess I'll quit whining now and get back to work!
Lorraine Grula
Lorraine Grula's last blog post..Video Production Tips special offer
Great Post, as usual!
I also think it's much easier to read or listen to others tell you what to do, than to actually do it. It does take work! There is NO magic bullet.
I am thankful that Steve & I work together because we have someone to encourage us when we are down. I also find that having just a few friends and a mentor are extremely helpful once you learn the basics.
One last note…I think internet marketers also need to have practical business sense on making wise business decisions with their money. We find that too few people really understand income & expense concepts in a practical sense.
Thanks again for a thought provoking post. Your group sounds wonderful!
Kerry
Rick. I am listening to you on Howie's Mastermind Call. thanks for your input!
I am making money online as a RichAgent, I am launching a RichAgent training program on June 14th offering 3 Tracks. A new RichAgent apprentice will be able to choose one of the three tracks and become an expert in that vertical. Its exciting stuff. check us out.
Thanks.
Thatcher Michelsen - Your Wealth Coach
RichAgent.com work-at-home authority blog
Oh, how true it is!
I'm in the "silent minority" - one who makes a good living online, but doesn't broadcast it.
In my opinion, a lot of experts tend to focus on a single area, such as SEO, list building, web design, copywriting… the list is endless. But because this is their "passion", they don't fill you in on what they consider mundane. Those small daily rituals they do in a mindless way are almost always the things that new marketers need to learn!
I know it's simplistic, but organization and a clear goal are really the foundation of what has made me personally successful. I also recommend finding a kindred spirit, mentor, friend, accountability partner - each can motivate and uplift the other, and finding one with complimentary talents is an awesome way to pool resources.
As someone else commented, there really isn't a magic bullet. All of it is hard work, but once you master each area, it becomes easier. The items you don't like doing can be outsourced later.
A final thought: Never stop learning. As a matter of fact, schedule at least an hour a day to learn something new! Read an ebook, check out a blog, ask questions about an area you don't yet understand, and most of all, apply the knowledge you gain to your business!
Cheers!
Lisa Preston
Lisa Preston's last blog post..Unsolicited Testimonials From My Clients?
Hi Rick,
I'm glad I found your site. I happened over here from Rosalind Gardner's NetProfitsToday where I've been fortunate enough to be featured as a "guest poster" on her site over the last couple of weeks.
I found this article interesting because it's the reason why I wrote an article to Ros a few weeks ago (http://www.netprofitstoday.com/blog/how-jason-increased-his-affiliate-site-traffic-by-500/).
I've been making a nice second income online for over five years now, and until a couple of weeks ago, I had never mentioned my success online. But, I felt it was worth noting because the "get rich quick" and "internet marketing guru" spammers are all over the internet now. You can't open up your email or do a search on Google without being bombarded with their spam messages.
The internet is a wonderful place to either make a second income or make a fortune. You just have to follow sound business practices and take your time. And, it's important to always remember that it's an online "Business", not an online "Give me money for doing nothing thing".
Again, I'm glad I found your site. You now have another dedicated and interested visitor.
Best Regards,
Jason Anthony
Hey Rick, this is a great article and you hit it right on. I have actually made a lot more money on non-internet related niches than on internet marketing ones. There are people that are making it in non-internet related niches but the fact is, as you said, they are too busy and have no incentive to share what they are doing. The best advice I give people is to stay focused, stop buying all these fly by night programs, and simply try to be the best in your niche as you can be.
Kevin's last blog post..Linkbaiting Tips and Practices
That kind of mentoring sounds great, but if I had that kind of money to blow on mentoring per month, I'd already be doing pretty well lol.
Cynthia Clintons last blog post..Mindfulness - The Secret To Enacting Personal Change
Rick I would like to add a couple more VERY Crucial elements missing in 93% of Internet Marketing aspirant's Arsenal.
Lack of a SELLERS Mindset
Lack of any solid Business Plan, Cash Flow Projection and Reasonable Budgets.
We stress these elements even before someone stars using their Pay pal and Credit Card.
Happy to say it has worked for many…..
Keep up your candor and integrity