As I write this article there are literally millions of people trying to make money online, sadly only less than one percent will actually make a reasonable amount. So what’s the difference between those who make it online and those who don’t?
I believe most people destroy their chance of making money online by making just a few bad decisions. In this article I highlight five of the most common areas where beginner online-entrepreneurs go wrong.
Lack of focus
If you are like most people you are looking to make a secondary income through your online efforts. This means you have a limited amount of time per day/week which you can dedicate to this venture. Whether you have one hour a week or ten, you can NOT afford to work on a million different things if you want to succeed.
You need to hone your focus. One great website beats ten “okay” any day.
The second most common mistake after lack of focus is giving up too soon. Things do move faster online, however a success with less than six months work is still VERY uncommon. If you want to make money online you are going to have to persist, Rome wasn’t built in a day.
If you can’t do something online, search! Chances are it’s been done many times before and the solution blogged. Too many people are wasting their time reinventing the wheel when all they need to do is listen.
Listening too much
The opposite of the above, don’t fall into the trap of reading blog and news websites all day and not making any progress on your own websites. Blogs can be a great resource of information but try to limit your reading time to allow more “work time”.
Giving it all away
More and more emphasis is put on giving away our knowledge and best content to build a “strong brand” and “expert status”. However we’re trying to build a business not a charity so you need to have something to actually sell. Instead of just giving everything away without thinking, consider offering free samples and teasers to entice people to enquire about your products.
Looking at the above list are you guilty of making these mistakes? I can say for sure I’ve made the mistake of trying to work on too many projects simultaneously and it’s ended badly.
This is a guest post by Danny Cooper (dannycooper.org) who is currently experimenting with Micro Niche Finder. You can also write guest articles and share your expert tips and tricks.