Making money online has never been easy. It requires the knowledge of the computer and how the internet works. A lot of people have tried to make money online but they have failed and most have quit for good.

At the same time its the easiest way to make a living. Its a job you can do right at home sitting on your couch all day and making thousands of dollars a day. So why is it that some fail miserably doing this while some people have been so successful with it.

There are many things we have to look at but one of them is the mindset of each person. It is essential that you have the right mindset. It does not matter what your reasons are for starting your money making home business, but without obtaining the proper mindset and attitude, you’re setting yourself up for failure.

There is this statistics somewhere that over 50% of small businesses fail in the first year and 95% fail within the first five years. This applies also to online marketing. Over 50% who makes attempt quit in the first 3-6 months while 95% fail within a year or two. I don’t know how i come about that statistics but i think i have seen guys come and go trying to make a living online.

Why Most People Fail Online​

1. They Don’t Know What the Internet is All About

Most people don’t even know what the internet is all about. They think its a place to simply come sell things, make money and then live large while doing nothing. This is the first wrong Mindset most people have when they hear about making money online.

Some people come to me everyday and ask me the best “Surf the Web” site they could start making $200 from a day. When i tell them that’s those sites are not real and its not possible to make that kind of money just surfing the web not doing anything some give up right there.

The internet is not like that. Your first thought needs to be about service. Your first thought should be about relationships between you and someone who wants to exchange money with you for what you have to offer. Making money means money must flow from one person to another. Online money does not come from nowhere. It comes from some folks who needs something.

A banker have to count and keep people’s money safe before he can get paid. A carpenter does woodwork and get paid doing it. An internet marketer also needs to provide a service online. So before you think of making money online, you need to think about what you have that people would want to exchange money for.

You want to blog and report news so that people could be informed of latest news? then that’s a service. You want to create a software? that’s a service. You want to build a community for groups of people with common goals like a forum? Then that’s also a service. You must have a service to offer before you can think of getting paid.

2. Wish-focused

Some guys are just wish-focused. They daydreams about making lots of money when they see a certain so called guru’s screenshot instead of trying to make their own. The problem is that they you are never in the moment. They are always letting their mind escape to the future, so this leaves them missing what is here, now, in front of them. And what is in front of them is learning what is it they need to know in order to make money like the so called guru.

A person with a multimillionaire mind is reality-based. He is always analyzing his own success and the success of others and wondering how he could learn from it. Instead of looking at what others have accomplished, try to learn what it is they do, how they do it and then you too can make money.

3. Unreasonable Expectations

This is like the biggest one of them all – Unreasonable expectations. Some guys ask me all the time what kind of job they could do online that would start fetching them $1000 a day from day one. They tell me they need it desperately because they have so and so to accomplish within a time period.

This are guys who have started counting money before they even have a business. They have the mindset that success is easily obtainable and that they should start making money quickly. This usually doesn’t happen, and they get frustrated and quit.

4. Quitting When the Going Gets Tough

I love this speech by Charles “Tremendous” Jones:

“There is no denying that along the path to success there are many obstacles, and there will be tough times along the way. If anyone ever gives you a “secret” to success that they say involves no pitfalls and no struggle or work, they are either lying to you or they have never actually tried it for themselves. There is one principle you must be aware of if you are to get past these hard times, and that is “stickability”. This is the ability to “stick to it” and keep going no matter what”.

This is the reason for the statistics given above about the 95%. Most quit when the going gets tough. So if you’re in internet marketing or considering going into it, then here’s a statistic you should live by… You will be 100% successful if you do not quit!

5. Fear of Going Broke

A lot of times, starting online marketing means you have to spend all you have to buy stuffs that will help you online. A computer system, monthly Internet data, software, courses and programs etc. All these cost money and most successful internet marketers go through this. Spending all they had and putting all their money in something that’s could take weeks or months to yield result.

Its about taking risks and not everyone can go through this and this is the reason why most never finish the race. They quit because they don’t want to go broke or go hungry. They just wouldn’t risk it.

6. Freebie Seekers

Some don’t make money online because they want things for free all the time. They want free tools, free domain, free website, free programs, free internet connection — free everything. making money online is about creating a service or a platform for others to create services. Looking for free stuffs always won’t help you.

You need to spend money on quality stuffs that will help you. At least buy a domain, hosting, premium tools, online courses and programs that will fast track your internet marketing journey. So instead of spending months trying to figure out something and hoping that you make a breakthrough, you can get that tool or premium service to help you achieve it in the shortest possible time frame.

7. Fear of Being Called a 419ner or Yahoo-boy

In Nigeria, making money online is something new. To some people, its impossible. I guess its still because of illiteracy. When i mean illiteracy, even our educated ones with Msc do not even know how the internet works let alone know that its possible to make money on it.

Everywhere i have lived since i started making money online, i have always been called a Yahoo boy. No one would dare say it to my face though but you know with the way they look at you when you carry your laptop bag. I know guys who quit because of that or who simply wouldn’t go into it for the fear of being labelled a 419ner.

That makes you an illiterate too if you let the fear of 419 stop you from making money online. Its going to be a while before we embrace internet marketing. Even the police are illiterates looking for everyone carrying laptop bags.

This is the new age and i believe if you don’t know how the internet works, you are still living in the 19th century.

How to Be Successful Online​

Goal setting is the first step toward successful goal achievement. It marks your first point toward success. It is what put your life into real action mode. Without this step, the other steps of goal achievement cannot take place. This is like a general plan you need in life because that’s what affects everything you do and become whether you are an internet marketer or working offline.

You should first ask yourself these questions:

  • What do I want to achieve/get/become?
  • What picture do I have of my goals?
  • What do I need to do to get there?
  • What will it cost?
  • What greater good will it fulfil?

If you can answer those questions, then you are set to start your internet marketing journey. Its always said that, “Promise without a goal and a plan is like a barren cow”.

Start New Relationships for the Right Reasons. You need to learn to create something that provides value to people. You should think of building a relationship online because that’s what online marketing is all about.

There is a relationship between a blog owner and readers, a forum owner and other members of the forum, a seller and buyers on Fiverr, a software creator and those who are going to use it. Without a relationship, there is no way you can ever make money online.

Believe in Your Abilities and Capabilities. One way or the order, you have what you are good at. You need to believe in your abilities. You must never doubt your ability to achieve anything, become anything, overcome anything and inspire everything. Whatever you feel you are good at, create it and you will make money with it.

Staying Positive is the Key. Work hard for what you want because it won’t come to you without a fight. You have to be strong and courageous and know that you can do anything you put your mind to.

Get a Mentor. Before you go further, get yourself a mentor. You don’t have to have a formal mentor. Online or offline, you need to find someone who could make your journey easier.

Making money online is not that hard if you do the right things. So do the right things and you will be fine.

 

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