Connect with us

Entrepreneurs

Making Money Online Is Hard And That’s Why It’s Rare

Published

on

Social media is littered with ads about the dream of making money online. We’re all told to chase that rainbow unicorn until we can shoot it down, and eat it for dinner. Somehow then we’ll have made it. Yippee….not.

Making money online is hard and most people will never succeed at it. That’s just a fact. You, my friends, can though but you have to start listening and understanding how the games played. Everyone tells you that making money online is easy. It’s not. It’s bloody hard work.

Don’t whinge to people about why you can’t make money online. Instead, I encourage you to read the below advice.

A) Take action

Rather than being romantic about how you make money online, just start. Start today. Start in the next few minutes if you can.

Making money online is rare because people spend too long thinking about the method, rather than spending the time to execute.

“Whatever your grand plan is, it’s going to get blown to pieces with a 12-gauge shotgun once you launch and attempt to validate it”

Action is the winning ingredient of online success, not strategy, content, product, marketing, people or any other tool you think you need. Cold hard action will take you to the iciest Mt Fuji you have ever seen where only the winners with a ton of cash hang out on weekends.

Action is what got me to where I am today. I used to believe I couldn’t be a blogger because I didn’t have a website. Then, I found a way and used other people’s platforms. There is always a way to make money online.

B) Drop what you’re bad at

I’d been fantasizing about selling an online course for years and never did it. The reason I discovered was that I hate making websites. I have no interest and it drains my time and energy. So what I did instead was find people who could do that for me and then did a revenue share with them.

What this allowed me to do was launch something, test it, see some dollars come in and focus on what I love: creating content to inspire the world.

“If you’re hopeless at something, then outsource it”

Find a way. Give up your excuses about why you can’t outsource.

Don’t be greedy and quit trying to do everything yourself. That’s what is stopping you from making a wheelbarrow full of cash like Rich Uncle Pennybags (mascot of Monopoly game).

C) You don’t understand how many hours it takes

The flashy, sponsored, Facebook videos and the guy on YouTube who shot a video next to his pool make you think it’s all about overnight success. Making money online takes more hours than you could imagine. For a while, you’ll make less than ten dollars and then all of a sudden there will be a tipping point.

Money will then start to flow. Then, you’ll have a few major events after the tipping point that will be where all of your money comes from in the future. Can you keep having a go at your online business even when nobody is paying attention or spending money with you?

That will determine whether you will make money online.

D) You think there’s only one way

The ways you can make money online are much more varied than you think. In my space (blogging) you can do the following:

– Create an eCommerce site with products
– Ebook
– Sponsored Podcast
– Affiliate marketing links
– Online courses
– Speaking gigs
– Banner Ad’s

The list is longer than the number of animals that entered Noah’s Ark. Your problem is that you think there is only one way or that the way’s I’ve mentioned are out of date or they don’t work anymore. All aspects of making money online can work; it just depends on what your niche is, as to which ones will work.

There’s no silver bullet with a side of taco’s that is going to 100% tell you what method or methods will work best for you. See point one: take action. Do it now!

E) Your niche is not your passion

The plain and simple vanilla smoothie fact is that your niche must be your passion as well. Trying to make money online through a channel that you’re not obsessed with will fail and fail badly (trust me I’ve tried).

The only way you will have the willpower to continue on when times get tough with your online business is by centering your business around something which you would be doing anyway. If you love golf and start a business around it, no matter what you’re going to keep on playing golf.

Pick something that is a default habit for you so that your online business can enhance that habit. I’m obsessed with personal development and entrepreneurship, so for me, to write about it and have a business centered around it, is straightforward. I don’t have to stay motivated because the motivation is self-fulfilling. It’s kind of like compound interest; you put the money in an account and the rest takes care of itself.

F) Overcomplicating is the disease

The rarest of rare traits in successful online businesses is simplicity. It’s the main reason making money online is so rare. The more complicated your grand plan is to build the smartest website, the less likely you will execute and make any real money.

All these “How To Make Millions Courses” that are available online are what’s causing you the problem. The goal of these courses is to make out like they have all the answers and give you long-winded BS strategies, which won’t work anyway.

Overcomplicating what you’re trying to achieve online is the root cause of the problem. Less is more. Do one thing online, and do it well. Make what you do different, without it necessarily needing to be better. Again, just execute and take action. Rinse then repeat.

If you want to increase your productivity and learn some more valuable life hacks, then join my private mailing list on timdenning.net

Tim is best known as a long-time contributor on Addicted2Success. Tim's content has been shared millions of times and he has written multiple viral posts all around personal development and entrepreneurship.You can connect with Tim through his website www.timdenning.net

Advertisement
2 Comments

2 Comments

  1. Nicah Caramba

    Sep 5, 2017 at 4:09 am

    Hey, Tim!
    Everything in this article is right. It’s hard to build an online business. I can’t stress how difficult it is to even get email subscribers and traffic to your site, let alone make a revenue stream out of it. It requires intense focus, long hours and multiple trial and errors. But the harder the labor, the sweeter the fruits. Thanks for this. 🙂

  2. TH

    Aug 31, 2017 at 1:01 pm

    Fantastic break down as to why the making money online part isn’t as easy nor simple as some make it out to be! I myself struggle with it but perserverance and patience are key!

Leave a Reply

Your email address will not be published. Required fields are marked *

Entrepreneurs

10 Negotiation Skills Every Entrepreneur Must Have

Published

on

negotiation skills for entrepreneurs
Image Credit: Unsplash

We all want to get as much as we can in every deal or transaction. We cannot help considering our self-interests every time we negotiate a deal. This is not selfishness but how we have been created and conditioned by nature. However, to become a great negotiator, you’ll have to put your needs and wants aside and start looking at things objectively. The last thing you want to happen is to blow up the deal just because you couldn’t stop thinking of serving yourself. (more…)

Continue Reading

Entrepreneurs

The Big Lie That Could Be Costing You Thousands And How To Quickly Turn It Around

Published

on

the worst advice for an entrepreneur
Image Credit: Unsplash

If you are a coach or entrepreneur, there’s no doubt in my mind that you will have heard this lie. You will have seen people posting about it religiously on Facebook and you may have nodded your head in agreement, while throwing them a love heart. If you did, I wouldn’t blame you. On the surface, it seems like very good advice but if you followed it, you would probably find yourself confused, frustrated, and broke. (more…)

Continue Reading

Entrepreneurs

5 Things I Did on the Way to Becoming a Successful Entrepreneur

Published

on

what i did to become a successful entrepreneur
Image Credit: Unsplash

Everybody’s story is different, and while some people choose to not share their stories, I’m proud of mine not only because of how far I’ve gotten, but also because of where I started. It was not normal for my family to have much food because we grew up poor. Today, I have a comfortable life, and appreciate that when I look back, I see I’ve made difficult but fruitful decisions. Today, I am an Entrepreneur, an IT guide, a project consultant, a professional sales trainer, an author, and a youth awardee.
(more…)

Continue Reading

Entrepreneurs

Here Are 7 Things Any Entrepreneur Can Do Right Now to Prevent Burnout

Published

on

how any entrepreneur can prevent burnout
Image Credit: Unsplash

Sometime in the middle of 2019, the World Health Organisation (WHO) added ‘burnout’ to its handbook of International Classification of Diseases or the ICD-11 as an occupational phenomenon. Chronic workplace stress, endless to-do lists, constant feelings of fatigue. Entrepreneurs who are working on ideas to build and/or grow something from scratch are very well acquainted with these terms and feelings. As an organisation grows, there is an increasing number of decisions to be made and departments to be led. It only grows from that point on and the workload never ceases to exist. (more…)

Continue Reading

Trending