7 Reasons Why You Will Fail to Make Money Online and How to Avoid Them
Every month over 60,500 people do a search on Google trying to to figure out how to make money online. That’s over 726,000 people a year who embark on this journey.
But out of that 726,000+ people who inquire about making money online, how many of them do you think actually succeed at it?
Well, here’s a reality check… less than 3% of them actually do.
And out of that 3% who do, very few of them actually go on to earn a full time income online year after year after year.
But it is possible, and you can do it too.
In my six years of being an online marketer, I have seen a whole lot of people fail, but I have also seen some succeed.
Because of this, I’ve been able to identify 7 common mistakes that people make when they don’t succeed.
These 7 mistakes will not only keep you broke and frustrated, but they will also prevent you from having any long term success online even if you do manage to make a few bucks here and there.
So if you want to succeed at making money online, here are 7 mistakes that you definitely need to avoid making.
Mistake #1 – Failing to Define Your “Why” for Wanting to Make Money Online
Now I know that this may sound cliche, but it’s the truth. You can’t just say “I want to make money online”. You must define “why” you want to make money online.
Do you just need to earn a few hundred extra dollars every month to pay some bills?
Do you want to make some extra money so that you can go on vacation…
Or do you want to build a REAL online business that will allow you to quit your day job and tell your boss to shove it?
Determining what your why is is very important because it will help you to determine what path you need to take with your online business.
Mistake #2 – Focusing on Strategies Instead of Systems
Learning how to make money with Facebook, YouTube, and SEO are all really great strategies. But that is exactly what they are, strategies.
And you can make money online with these strategies.
But if your goal is to build a REAL online business that will feed you and your family for life, then you need to focus on learning “systems”.
Learning about systems means that you need to learn develop certain skill sets such as putting together a marketing funnel that produces sales on autopilot, writing effective email copy, and making tweaks to your marketing campaign to increase conversions.
Too many people come online and try to build an online business simply by using strategies alone and ignoring these skills.
Doing this will definitely result in failure.
Mistake #3 – Screwing up Niche Research
Obviously, you can only sell products to people who want to buy them. This means that you gotta get your niche research right. Just because people are online looking for information about something does not mean that they are willing to pay for it.
Mistake #4 – Failing to Build an Email List
There is nothing more powerful than having your own database of customers that you can promote products to over and over again. Building an email list is exactly how you obtain this database.
With an email list, you can send instant traffic to any product or service that you feel is relevant to the list. It also gives you the power to “print” money anytime that you need it.
Mistake #5 – Failing to Segment Your Email List
Just because you have an email list does not mean that you will make money from it. If you don’t send the people on your list offers that are relevant to them, they won’t buy anything.
Do this too many times and they will even unsubscribe from your list.
That is why you need to segment your list into groups of people who have similar interest. Then you can send relevant offers only to those people who you know are already interested.
Mistake #6 – Not Sending Enough Emails
Once you get someone on your list, you need to talk to them… consistently. This is how you build a relationship with someone. That means that you need to email them as often as possible.
You do this by sending them helpful information that can help them to achieve their goals. This information can be in the form of funny stories, useful articles, tutorial videos, and much more.
The goal is to get the people on your list to see you as a person of authority in your niche and believe that you are someone that they can trust. That way, when you recommend a product or service to them, they are more apt to take your advice and buy it.
Mistake #7 – Failing to Taking Action
This is the biggest mistake that will kill your online money making dreams the most. Once you learn what to do and what not to do, you have to take action. It does not do you any good to read this article or spend your hard earned money on any online marketing course if you are not going to follow through with what you learn.
Now that you know what the 7 mistakes are, start taking action not to make them. If you can do that, you will have a great opportunity to become one of the 3% of people who make money online instead of the 97% of people who don’t.
By the way, if you’re REALLY serious about building a REAL online business, then be sure to visit my blog, The Struggling Newb Dotcom http://www.thestrugglingnewb.com where I reveal different tricks and strategies to building a successful online business.