Before we get started I have to get something out of the way. The last thing I want is for someone to discredit this post thinking it was just a cleverly disguised promotion to one of my products.
At the end of this post I AM going to offer one of my products as a solution to the reasons why 95% of people fail at trying to make money online. It's not going to cost thousands of dollars or even hundreds or even $47 or even $27.
In fact it's my job to give you real solutions to your real problems -literally! We'll actually be talking about that in reason #4 why people fail, further on in this blog post.
If you don't want to be one of the 95% that fail this year then I suggest you not only read every word here today, but come back and read it once a week.
Let's Begin…
We all know that I used to really suck at making money online. Heck, so did all the other guru's except for maybe Frank Kern. haha J/K
What did I do that anyone else might not have done (to finally become successful online)? I have no super powers, I didn't get a fancy education, I'm certainly not a programming wiz, my parents aren't rich…
I actually remember the day when the lights went on for me. I was living in Tampa, FL and my desk was made out of cinder blocks stacked 3 high on both sides with a closet door laid on top. Back then I had one of those old computer monitors that still had the big glass round bubble as the screen.
Whats worse is my computer would just randomly shut down. So I'd be right in the middle of writing an article or trying to build a landing page and PLLLIFFT! There wen't all my work! (I learned to press save about every 5 minutes)
Why am I telling you all this?
Because I've been at this game for almost 4 years now and in that time I've learned a tremendous amount of information. More then that though is I've been at it long enough to see the patterns and cycles of this industry.
The day the lights went on for me I remember thinking "That's it, the answer is right under my nose. The "Guru's" have practically been yelling it from the top of their lungs, but I've been ignoring them thinking there must be something more."
I guess in a sense, as funny as it sounds, I was once looking for the magical secret also. I didn't want to hear about basics and fundamentals and starting slow to work my way up. I wanted to hear "press this button together with this button and when you go outside there will be stacks of cash in your mailbox!"
But in that weird moment of clarity I all of a sudden GOT IT. It's totally possible back in those days that I may have been under the influence of something, and maybe that's what that moment of clarity was.
Anyhow, that's the day I started to listen and this is what I heard…
Don't Chase That New Shiny Ball
If you want to fail at making money online the best way to do it is just get invloved in every new product or money making method you hear about. In fact if you really want to get good at failing you should sign up to every marketers list, buy every product you think looks good, and try to do each concept you hear about.
IF YOU DON'T WANT TO FAIL you should choose very carefully who you allow into your life. When I first learned this lesson I unsubscribed from all but 3 email lists. I then only listened to what those 3 people had to say. This ties into the next part of the formula for failure…
Yellow Belts Can't Kick Anyone's Ass
When I first started out online I was tring everything. I mean the "guru's" told me they worked so who was I to think they didn't. And I wasn't making money from the last one I tried so I might as well try something else. In that thinking was my demise.
If you want to fail at making money online this year then you should try every technique you hear about for two weeks only then move onto the next one. But IF YOU DON'T WANT TO FAIL then you should pick just one money making strategy and stick to it until you are an expert in that strategy.
Strategies That Work:
Affiliate Marketing
Information Marketing (having your own products)
Website Flipping
Blogging
Stock Market Investing
Real Estate (yes, even in this economy)
Service Selling
Software Licensing
Consulting
And many more
It's just like playing any sport. If you tried playing each sport for just two weeks you wouldn't be good at any of them, however, if you practiced one sport everyday for 6 months you just might start to get really good at that sport. Again this ties into the next part and touches back on that last part of the formula…
Even Tiger Woods Has A Coach
Once you pick which money making strategy you will become an expert at you must find a mentor or coach. Before I lended my internship with Russell I was barely making any money at all. Within 3 weeks of gaining him as my mentor I quadrupled my income. Less then a year later he directly had a part in me having my first 5 figure day.
I'm man enough to admit that it's 100% of Russell's teachings that I now make over 6 figures per year and on my way to 7 figures. Could I have done it all myself, probably, but NO WHERE NEAR AS FAST.
I got lucky, very lucky, in how I landed Russell as my mentor. However, I believe that ANYONE could still do it if they approached him with the same attitude that I approached him with.
Since Russell, I have picked up a few other mentors and I didn't get lucky these times. This time I had to work my way in and pay my way in. It's worth it though because having these mentors is the fastest way for me to reach the next levels of succes. Along with helping me steer clear of costly mistakes.
If you want to fail at making money online then I suggest you try to do everything on your own, don't make any sacrifices, don't pay for any educational material, and never make compromises.
IF YOU DON'T WANT TO FAIL then I suggest you find a mentor as quickly as possible. Make sure they are already doing what you wish you were doing both physically and financially. You might have to pay your way in, you might have to work for free, and you might have to kiss some butts. It'll be worth it though!
Don't Sell Sand In A Desert
If I came up to you and told you what would be better to sell in a desert either sand or water what would be your answer? I hope you said water!
The reason you answered water instead of sand is because you already know that people in a desert most likely don't need more sand but they'll almost always need some more water. It's the same thing with trying to sell products as an affiliate or product owner or service seller.
You first have to know what your market wants. If you don't already know then you need to do the research. Here are a couple ways I do my research and what information i'm looking for in my markets.
1.) Grow some courage and just start asking people that you think are your target customers then write down the information they give you.
2.) Create a survey with something like SurveyMonkey.com and offer a very valuable incentive in exchange for people to answer your survey. To get people to your survey you can either pay for traffic with something like Google Adwords or pay someone to let you email your survey to their list of subscribers.
3.) Go to quantcast.com, compete.com, or google.com/adplanner and look up sites in your market. These sites will tell you lots of information about who the people are that visit the sites you are researching.
Minimum Information You Need:
What age group is your target audience?
What gender is your target audience?
What race is your target audience?
What income level is your target audience?
Where do they hang out online?
What fears do they have?
What are their biggest common problems?
What do they like to buy?
Do they like to buy online or offline?
How fast is their Internet connection?
What emotion is causing them to want to buy?
What emotion will they feel when they buy?
If you want to fail at making money online then ignore these questions, never do any research, and just make guesses at what people want to buy. If you want to fail just sell them what you think they want instead of what they know they want.
IF YOU DON'T WANT TO FAIL then do your research first. Get answers to those questions and create a character out of that information you collected. Give that character a name and think about what a day i ntheir life is like. Close your eyes and really pretend you are that person - What do they drive, whats their house look like, where do they work, what do they do for fun, what upsets them?
If you don't want to fail then you need to know without a doubt what will help your target audience and then give them the solution in exchange for a fair price.
For example my niche is the make money online niche. Here's my target audience profile…
Age: 45
Gender: Male w/Fast Growing Female Audience
Race: Non-specific but majority of caucasian and asian
Income: $500 - $800/week - $3,000/month - $30,000 per year
Online Hot Spots: Twitter, Facebook, WarriorForum, WealthyAffiliate, Squidoo, Ezinearticles
Fears: Programming, Breaking the Computer, Public Speaking, Making Mistakes, Public Embarrassment
Common Problems: Lack of Focus, Information Overload, Trust, Technical Skills
Likes to Buy: Coaching, Step-by-step videos, Traffic, Dreams
Buy Online or Off: Majority has online Paypal accounts for instant online purchasing
Internet: Majority Has Invested In Broadband Connection Speeds
Before Purchase Emotions: Hope, Freedom, Fear, Fatigue
After Purchase Emotions: Pride, Invincibility, Hope, Independence
By knowing this information it's easy for me to sell my membership site which offers coaching, community, step by step videos, and tools to make their life easier. When I add on a 30 day trial for only $1 (paid online), show whats inside, and provide testimonials - It's like selling water to a man who's just crawled 3 days across the Sahara desert.
You can do this in any niche, you just have to be willing to do the research. If you need help with it my wife and I would love to hold your hand and walk you through your first time. Just contact us in our forum at http://www.thesiteflingmafia.com
You know the formula for failure now, just make sure you stay out of it and you should be fine. Again, yes I am offering my product as a solution, because it is, but I could not be more genuine about what i've said in this blog post.
As usual comments and compliments go down below. For complaints please press ALT + FX