98% of people fail to make money online. Are you one of them?
With so many success stories about people making money online, it can seem really frustrating for a lot of you who have been struggling at it for months if not years. Everywhere you search there seems to be some housewife who made tens of thousands of dollars from home or a college kid that dropped out after earning a five-figure income from their dorm room.
So what separates this 2% from the rest of the pack?
Well it’s a number of things to be honest. And I’ve narrowed it down to what I feel are the top 4 reasons why people fail to make money online.
1. They don’t have a system
A lot of people have come up to me and revealed their dream of earning a fully passive income online. They have the end goal all planned out. How much money they’re going to be making, how they’re going to be spending it, the many ways their lives are going to improve once they reach that goal.
It sounds great.
Then I ask them how they plan on getting there. And everything falls apart. They shrug their shoulders and say “I dunno.”
The father of time management, Benjamin Franklin, said is best “Failing to plan is planning to fail.”
I’m sure you’ve heard it over and over again and it sounds cliché. But clichés exist for a reason.
To make money online you are in effect creating an online business. And just as with any business venture, you must have a clear plan of what you want achieve. More importantly, HOW you plan to achieve it.
That’s why you absolutely must have a system.
A process that you can follow, tweak and repeat. Step by step actions that will bring you closer to your ultimate goal. Map out your journey; plan what you’re going to do and how you’re going to do it. And set a time frame.
2. Shiny Object Syndrome
This is definitely something that I suffered from heavily when I first got started trying to make money online.
As some of you may already know, my journey began when I typed “how to make money online” into Google. I received over 2 billion search results. I went through endless articles and blogs. Purchased thousands of products about it. From eBooks to push button software, this blueprint, that program and everything in between.
I’d get so excited over a new purchase, yet as soon as I get started in the program, another one would catch my eye.
Then I’d buy that one. Start that one. Then another pops up.
Yes, Shiny Object Syndrome is a very real problem. The best way to counter it is to find a proven system that works. Shut off all the noise from everyone else. And follow that one system.
The reason why people don’t see results from their efforts is because they never fully commit 100% of effort into any of their endeavors.
More often than not, what you get out of anything is directly proportional to what you put in.
3. Paralysis by Analysis
This is dedicated to all the perfectionists out there. You spend too much time thinking and calculating. You pour hours into research and still feel that you need to know more before you start.
Look, knowledge is great, but knowledge without action is worthless.
And when you’re finally satisfied with the amount of research and reading time that you’ve clocked, you get started. But nothing is ever quite good enough.
You question yourself. You start again. You tweak and redo.
Over-analyzing everything is a sure way to fail. If you’re spending so much trying to be perfect all the time, you’ll find that nothing gets accomplished.
You’ll never know what kind of results you can achieve if you’re too concerned that things aren’t perfect enough to be seen by others.
Just get it out there. From the feedback you get, you can go back, make changes and improve.
4. Not Taking Consistent Action
The final reason why I think people fail at making money online is because they never take action.
Either they sit around and talk about what they’re going to do but never do a thing. Or they attempt to start a program and get really into it for a couple of days, maybe a week.
Then slowly there’s an excuse why they didn’t do anything that day. They were feeling sick. They had friends over for dinner. They were busy.
And everything that they could have achieved that day gets pushed to the next day. Then the next. And the next.
Until eventually it’s forgotten all together.
In order to achieve success making money online, you have to form daily habits. You must take action on the tasks you give yourself. Because if you don’t do anything, then nothing gets done.
Sounds redundant. But it’s true.
Consistently taking action is what will bring you success.
All said and done, the key to successfully making money online is having the proper foundation in place. A proven system that you can commit to and follow on an everyday basis.
In the wise words of Nike: JUST DO IT!
