If you are thinking of looking into making money by running an online business the question that is most likely at the forefront of your mind is…
Making Money Online – Can It Really Be Done?
A couple of years back, I had this same question going around and around in my head…
I had read countless stories of people making millions online without never really having any experience of running a web-based business before.
I’d heard people tell of how they had made a fortune online selling eBooks, seminars or courses.
I had also heard of how easy it was to make money this way, so easy in fact – anyone could do it.
Being the born sceptic that I am, I was not totally convinced by what I had read or heard, so I decided to dig a little deeper and see if this really was a viable business idea. Could the average person in the street capitalise on it and really have a chance of making money online?
After all, I knew if I was going to do this, I would be taking a big risk, investing a lot of time and a fair amount of money in it.
So I Started digging and I found a few names kept popping up on a regular basis, names such as Robert Kiyosaki, Mark Anastasi, Derek Halpern and Andrew Reynolds to name but a few.
These guys are making millions from internet businesses they set up with very little knowledge or investment and for a price they will teach you how they do it.
Now whilst these guys are at the top of the food chain and making unimaginable amounts of money, as I looked at testimonials on their web pages and investigated the individuals they have taught, I found a lot of the people who have learned from the Mr Big’s have gone on to amass small fortunes themselves.
What’s more further investigation showed that there are literally millions of people out there in every corner of the world making money online, pulling in anything from $1000 a month upwards from their own web based businesses.
So, I guess the short answer to the question is a resounding YES!
We now know making money online can be done, but what if you have no idea what you are doing when it comes to computers or the internet. These guys must all be IT geeks right?
Well surprisingly no, not at all…
Whilst some of the individuals who are making money this way have a good knowledge of computers, the majority had very little experience with that side of things before they started and some still don’t, they just outsource those jobs to others who then do it for them.
You see one of the things I learned when I was looking into this is that in order to make a decent regular income from you own online business, you really don’t need any background in IT or qualifications in computing to be successful, just time, determination and a willingness to learn the necessary basic skills required to make it work.
That’s not to say that if you possess all of the above you will make a success of it, in fact for every person that does make it there are thousands that fall by the wayside.
Individuals that start with great optimism and purpose can soon become disillusioned by how much work you have to initially put in, in order to make small inroads.
Why do they give up?
What reason could there be for them to let go of their dreams?
I found there were a number of reasons all but the most driven individuals gave up, but the majority quit for one of three main reasons…
1. Money
When the uninitiated decide to venture into internet marketing they seem to think because it’s all online there will be little or no cost involved.
This of course is wrong. Even though you are working primarily online, usually from your spare bedroom it is still a business, and no business can be run without overheads.
Assuming they already have a computer, expenses are still going to accrue…
Domain names, Web hosting, advertising, building your customer lists, products to sell (if you don’t develop your own) to name but a few that they will initially encounter.
Of course some of these can be done free of charge or ‘on the cheap’ but that is usually to the detriment of the time it will take before they see a regular income, and some people just don’t have the patience to wait.
Which brings us to the second reason…
2. Time
The reason a lot of us decide to give internet marketing a go is because we have been seduced by the stories of individuals making thousands within the first couple of months of starting up.
Although this can and does happen it is the exception rather than the rule, when I was looking into how long it took some of the more well known names to make money I was surprised by what I discovered…
Chris Farrell (Online Millionaire) was one of the quicker ones to start seeing returns after just six months.
Derek Halpern (Online Millionaire) Built his business up for twelve months before he even decided on a product to sell.
Steven Essa (Online Millionaire) took eight Months before he started seeing any returns.
The world of internet marketing is filled with successful people that spent a very long time trying before they saw any returns on their investments.
The moral of the story?
Don’t give up your day job just yet, but don’t give up on your dream either just because it is taking longer than you anticipated.
3. Commitment
A lot of people getting in to internet marketing are under the illusion that they can be successful by working just a couple of hours a day…
Whilst this may be true for the already established internet marketers it is certainly not the case for someone just starting out, in fact you should be ready to put in the (long) hours that will be required just to get everything into place.
If you are already working a full time job this will mean giving up your evenings and weekends and maybe sacrificing time with your family and friends as well as missing out on hobbies and interests (at least for a while).
After you have got everything set up you will then be facing more long hours trying to build up your customer list, keep your website(s) up to date, writing blogs, marketing your products, developing new products etc. etc.etc.
Believe me when I say there is a lot of time and work that you will need to put in, before you get to reap the fruits of your labour.
In Conclusion.
Making a comfortable income online can be done.However it is not for everyone.
In order to make it work you will need a certain kind of resolve and a strong belief in what you are doing…
You will need support from the people closest to you and the right mindset to overcome the challengers that you will face.
When you look at what is involved and consider the sacrifices you will have to make along the way coupled with all the problems and frustrations of finding the right help, advice and information, it is not hard to understand why so many people do give up on their dreams and go back to what they were doing before they had this crazy notion.
Having said that if you go in with your eyes wide open and are aware of the obstacles you will need to overcome along the way and if you understand that it is a marathon rather than a sprint then your chances of successfully making money online will be greatly improved.
Find out what you can really expect before starting your own online business. Download ‘The Five Things You Should Know Before Starting An Online Business’ here.
I am a full time internet Marketer and Product Developer living in Birmingham UK.
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