7 Reasons Why You’re Not Making Money Online
Making money on the internet is similar to the American dream. You have an equal opportunity to achieve success and prosperity through hard work, determination, and initiative.
The hard part is those last three character habits — hard work, determination, and initiative.
Making money online has this appeal of “getting rich quick.” Believe me, I wish it were true but it’s not.
There are a handful of obvious patterns I see people fall into that prevent them from adding some green to their wallet.
Let’s address those patterns, kill them, and create new, more empowering ones.
7 Reasons Why You’re Not Making Money Online
1. Your Mindset Sucks
Some people are raised to have a rock-solid mindset and others have to create it for themselves.
The ones who make it are in control of their thoughts and they allow the Universe to work in their favor. They always see progress where others would see failure.
They see opportunity where others see misfortune.
They read personal development books and listen to audios that strengthen their willpower and desire to succeed. Meanwhile, others watch TV and let their brains turn to mush.
They push past struggle and hold onto the reason why they got started in the first place.
Others never had a strong enough reason to hold onto in the first place.
They remove any exit strategy; there is no plan B. Success is the only option.
Others are always thinking, “I can always fall back on my job if this doesn’t work out.”
If personal development is not a part of your daily routine then I HIGHLY suggest you add it in. It will only serve you for the better.
2.) You Don’t Have A Mentor
The fastest way to see success online is to find a mentor who has what you want and do exactly as he did.
Join him in his business opportunity, purchase his products, ask him questions, and model everything he does. Success leaves clues, but most people are so ego-driven that they want to do it their own way.
You wouldn’t re-invent the wheel would you? No, you would just use the one that exists because it has already been proven to work.
The same goes with building a successful business online — find a system that works and use it.
Only tweak it later when you are seeing results and you are experienced enough to make those changes.
3.) Your Attitude is Rubbish
I hate complainers.
They always blame their situation on outside circumstances, and they never take ownership over anything.
They are the kings and queens of making excuses and they love pointing the finger.
If you can’t take responsibility for where you are in life at this very moment they you aren’t ready for this business.
The position your are in is a direct result of what you have done in the past 30 days.
If you hate your position then change your habits. No one needs to hear your whining or pity stories. Stop playing the victim card and create your own circumstances.
Only focus on what you can control.
When I sold internet door-to-door, I had no control over the weather, other people’s attitude towards me, the traffic, the territory, the income levels of the residents, etc.
I did have control over my own attitude, my work ethic, the length of my lunch break, my pitch, etc.
With internet marketing, I only focus on what I can control and I detach myself emotionally from everything else.
I can control how many blog posts I do per week, how many YouTube videos I record, the frequency of Facebook posts and emails to my list, making sure my on-page SEO optimization is correct, etc.
I can’t control how many people like, comment, or share my posts, if Google decides to move me a few spots down in the search results, if someone on my team decides to quit, etc.
The bottom line: focus on the controllables NOT the uncontrollables.
4.) Too Much Learning, Not Enough Applying
I live by the 3:1 ratio, which is that I spend 3 hours applying for every 1 hour of learning.
You will retain a skill much quicker this way, and you will avoid one of the biggest plagues in this industry — information overload.
I see people studying for hours and hours trying to learn every nook and cranny, loophole and angle about a topic before they start applying it.
This is one of the biggest mistakes you can make.
You have to accept that you will never know everything. Trying to be perfect is just a form of procrastination.
The best way to master a topic is through trial and error. Take imperfect yet massive action and tweak the formula as you go.
5.) Trying to Master Multiple Traffic Sources
It is too easy to spread yourself thin.
I scroll down my Facebook wall and I see people gloating their success on Instagram, YouTube marketing, Facebook marketing, Google SEO, Craigslist marketing, Forum marketing, Solo ads, Facebook PPC, and so on and so forth.
I used to get big-eyed and follow the wave, but I would never see any results because I was spending a tenth of my time doing ten different things instead of focusing on just one.
I started to get results once I scratched everything but blogging.
I wanted to become the go-to guy that specialized in everything blogging and SEO related, and now I have people reaching out to me all the time for help with their blog and SEO.
Only when I mastered blogging did I decide to move into YouTube marketing, and now I am mastering that.
So pick your favorite traffic source and do it every single day until you become a master. Only then should you move onto a second traffic source.
6.) You Suffer From Shiny Object Syndrome
Ooooo there is a new product or business opportunity that just launched and it sounds amazing!!
Everyone is hopping on the bandwagon, so you think this is your chance to get rich with a brand new startup — getting in at the beginning!!
What happens next month when the next shiny object launches and everyone rides the wave? And then the next month and the next month?
All of a sudden you are buying every new product and joining every new business opportunity on the market.
Now your subscribers on your email list have no idea what direction you are going in because you are promoting a new opportunity every day, so they unsubscribe from your list and you are now out hundreds if not thousands of dollars because you can’t make up your mind.
This is a vicious cycle that a lot of internet marketers go through.
In fact, I almost fell into this trap when I first got started, but I caught myself before falling too deep.
Find a company or product that you truly believe in and stick behind it 100%. You will have more peace of mind and your followers will trust you more.
7.) You Lack Consistency
Building an online business is like rolling a snowball down a mountain.
You have to start small and keep pushing it down the hill until it picks up enough momentum that it runs on its own and evolves into a giant snowball.
When I first got started, I wondered why I wasn’t seeing any results. I looked at my daily production and it sucked.
I was blogging once every two weeks, spending most of my time watching training videos and paying attention to other successful marketers instead of paying attention to my own business.
Once I focused on blogging everyday and making 3-4 YouTube videos a week, my traffic spiked big-time and my blog was slowly climbing up the Alexa rankings and in the search engines.
Stick to the 80-20 rule (the Pareto Principle). Figure out what 20% of your inputs generate 80% of your outputs.
Watching training videos and studying other successful marketers is necessary, but only to a certain extent. It certainly wasn’t bringing me more traffic, leads, or sales.
So I cut all the filler and focused on blogging, YouTube videos, and emailing my list. Those were my income producing activities.
So do an internal audit of your own business and find out where you are wasting time and where you should be spending your time.
Use this list to plug the leaks in your business.
Don’t neglect personal development and training your mind. This is inner game stuff that will effect your outer game and producing results.
Leave a comment below. I would love to hear your thoughts.