By Itamar Shafir on Apr 21, 2021
Does that sound familiar to you?
Have you been trying to take shortcuts, looking back, on phantom businesses that never took off?
Jumping from one potential to another?
You are not alone – but you might be on the wrong path.
This post is to all of you who are trying to “make money online”.
This post will not guide you to a specific offer, but rather try, based on years of experience helping countless entrepreneurs, to provide advice, so that you may plan a better course toward success.
I first should warn you about the VEGAS effect. If you ever talked with a gambler, even one currently at the bottom, you will most likely hear them say “I win sometimes”. Or “I have wan…”.
The fact that you might implement on a course once and did $5K, or even $10K, doesn’t mean this is the path for building a sustainable income or even that you will make another $10K. Shortcuts are usually hacks, and even though hacks work, they are short left, and usually on their last legs by the time you learn of them.
The calculation of investment vs reward should be easy for you. Look back, assuming you have a job, or had one, and think of the investment it took you to get where you are.
Maybe you had to go to college, maybe work under more experience people, build up skills over years, and eventually, after a long time, you got to $100K/yr., or maybe $200K/yr. or more. But whatever it is it took years.
Here is the good news, it will take you now a fraction of the time, as you already have some skills and experience, but it will take time and investment, perseverance, and the will to evolve.
Besides, using the right course, program, or franchise, your path to success shortens, following a roadmap of those who made it, and the tools and tactics they are using.
Just don’t delude yourself you can make $50K in the first 30 days of any business, that’s for PROs, not beginners. Pros can use hacks to capitalize on a limited-time market anomaly, beginners can’t.
So #1, lose the “making money online” mindset and embrace the mindset of ”building a business”. Affiliate marketing can be a business, having an eCom store is a business, and of course, a marketing agency is a business, to name but a few. Give it at least six months to see meaningful progress. If you don’t something is wrong. Might be something you’re doing or not doing; might be the program you chose. Reach out for help, don’t be shy, don’t be timid, if you are investing in yourself in earnest and putting in the time, those you see as mentors will invest more in you if you just ask.
#2, try to connect your business with a passion, or at least something you appreciate. The more you love what you do, the better you’ll be at it, the more you invest in it.
As an example, say you’re an avid cyclist. It doesn’t mean you need to open a bike store, but if for example, you’re considering building a marketing agency, why not focus on getting bicycle stores as clients.
For others, it can be something more amorphic, such as the love of helping other people. Both are good, just tap to what you like.
#3, choose businesses that utilize some of your existing skillset. As an example, if you have extensive experience in online advertising, use that skillset to build an affiliate business, and if you’re passionate about Cowboy boots, then promote stores that sell them. This is using your skill and your passion.
But if your talents lie more on your ability to create rapport with other people and you have a basic understanding of marketing, maybe a marketing agency is a better choice.
This is also important, as it means you will need to make efforts to evolve one skill rather than learning three new ones. Take this point to heart, it is cardinal to success. And to make sure nothing is lost in translation – DON’T BITE OFF MORE THAN YOU CAN CHOOSE.
#4, all businesses require some monetary investment in addition to time investment. This is on top of whatever program or course you might have purchased. Most businesses require investment in traffic, buying ads, leads, or alike. Investment in branding, software and even going to industry events.
Even in the most encompassing programs, or even franchises always take into consideration a bare minimum of $5K/yr. investment in your business. Minimum.
A caveat to this is if you already have a network that you can quickly tap into.
#5, Once in a while you will be presented with a unique market situation you would like to capitalize on As an example, investing in Crypto, Forex, stocks, or taking advantage of a crushing real-estate market. If you decide to go in with more than 5%-10% of your investment money, you better make that investment in your day job and focus on it.
As Warren Buffet said – “To be successful, sometimes you need to pass on GOOD opportunities”.
#6, Don’t complain, distill the problem and find a solution. Be hasty about it.
#7, Look at others only for encouragement, not in jealousy. Help your customers, think of them, how you can help them, and your business will flourish.
#8, it is extremely hard to build a business under financial distress. Even those with the extraordinarily strong constitution will be off their game if they can’t pay the rent. One way is getting a partner or sponsor. Someone who might recognize your potential and will invest or loan you the money. Another option is to build a business while you have a day job or save a while until you have the funds to make the move.
#9, You need luck. However, be sure that luck only follows those who do and try hard. I’ll share a joke that goes to the heart of it – “A man died and stands before God. The Man says to God – All my life I worshiped you, I followed your commandments, your teachings… Couldn’t you once let me win the lottery? God, looks at the man and answers – why didn’t you buy a ticket?”
There are many more golden nuggets to be shared for sure, but the above are core, as they address your mindset, skillset, finance, and affinity.
I will finish with a book recommendation that I hope you’ll adore as I do. The book is called ‘David Copperfield’ by Dickens. I find it very inspiring on many levels including the way to fortunes and very much fitting the essence of this post. To your success my friends.
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