Why Most People Fail to Make Money Online

[ZekeLL]

Internet is, in my opinion, the best tool ever invented. I just love it. It has made starting companies a lot easier. However, most Internet companies fail to make any money. Why is that?

Is starting an online business different from starting any other business? Yes and no. Yes, the technologies change. And no, most basic principles still apply. You still need to understand your target market, learn what they want, and provide them with it in a cost-effective way. You still need to learn what their buttons are and how to push them. You still need to know about finances, leadership, management, marketing, and sales.

Don’t think for a moment that just because you open a store online and Internet reaches the whole world people will buy from you. Venture capital firms call this “The China Myth” because so many entrepreneurs pitch investors on the idea that all they need is 1% of the Chinese market to be successful. The question is “How do you plan to sell to that 1%?” Don’t even think that because so many people have an Internet connection and you open an online store “someone will bite”. It just won’t happen unless you make it happen.

As an Internet Marketing consultant I’ve spoken with several people who start an online business, a month later they haven’t made enough money, and they decide that the business was a bad idea so they start a new one. Another month down the road they are in the same place. Nothing happens.

So many people are always looking for the next “hot” thing to do, the next “hot trend”, the next easy way to get rich overnight… so many people follow the so-called gurus who make money online by selling them e-books on how to make money online!

Don’t give up so easily. When you start a company, work on it until it becomes successful. Don’t give up after a few weeks. The truth is that a couple of weeks aren’t enough to figure out the right business model.

Another mistake I see often is people thinking too small and not considering the monetary value of their time. A woman told me the other day “I have an online business. Last month I made a profit.” When I asked her how much money she made and how much time she invested she said “I made $45 last month and I usually work 3 hours a day.” After doing the math we figured out that she was making $0.68/hour. McDonalds pays a lot more than that. I said “Good, that’s a great start. Now let’s think big.” and we went over a plan that helped her make $1,500 the next month. Your time is worth money. If you want to become rich overnight or make some easy money, don’t waste your time. If you are determined to building a solid business, Internet is one of the best things that could ever happen to you.

One last thought. I often see people spending 80% building a website and 20% promoting it. You should do it the other way around. If people don’t know about your website, your website doesn’t exist.

[wchua24]

that could be true but there are some tips that i do not completely agree with.

[ZekeLL]

Like what? Please feel free to expose your thoughts.

[lishiguang]

What I see is people going for profit before passion. I believe if you are passionate, prepared, persistent, and patient in whatever business you run, you will succeed!

[ovi44]

business different from starting any other business? Yes and no. Yes, the technologies change. And no, most basic principles still apply. You still need to understand your target market, learn what they want, and provide them with it in a cost-effective way. You still need to learn what their buttons are and how to push them. You still need to know about finances, leadership, management, marketing, and sales.

[gregmiller]

Most people don't understand the full meaning of "work" instead they are up to "on how to earn more" ... or at least have patience to any activities they would like to perform online.

[fanny]

Hello

Internet is one of the best tools ever invented. There are lots of programs to make money online and lot of people are making great income from internet. But the fact is that most people haven’t made any money online. Here are the reasons why most people fail to make money online.

They give up soon.

Most people who start to make money online join some programs try it for a week and they found that they haven’t made enough money, and they think that is not a good program and search for another and they start a new one. Several months later they are in the same place.

When you were a little kid trying to learn to ride a bicycle, did you ride it successfully without falling off the bicycle at all?. Failure is a process one must experience.

They want instant results

Most people want instant results. It will take time for you to build a profitable internet business. Most people expect to make money the next day. When they don’t get the results in a short time, they become discouraged. You can’t make money in a day or in a week. But when you are patient and building your business in a proper way, then you will make real money.

Lack of focus

There are a lot money making opportunities and programs on the internet promising you great income. Many people suffer from information overload. This simply means that the amount of information you receive on a subject is too much. So you eventually don’t know what to do and in the end you don’t do anything at all about the information you have absorbed. Focus on few money making programs or opportunity and try to get a payment from them.

Lack of Commitment

This is another reason why most people fail to make any money online. You must be persistent while building and running your business. If you don´t make money in a shot time, you shouldn´t give up. It takes time to build an online business. Make short and long term plans and work hard to follow them.