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These 7 Things Can Ruin Your Efforts of Making Money Online

These 7 Things Can Ruin Your Efforts of Making Money Online

We all know that many people are making good, great and even tremendous livings, all from behind their computer screens. For that reason alone, most of us should be past the whole “making money online is a scam” frame of mind. This ideology should be long gone and pushed as far out of our brain as possible. There is absolutely no excuse for this way of thinking unless perhaps you happen to be one of those old timers that had to walk 20 miles every morning to school in the snow. Ever heard that story before?

We can give them a pass. Anyway, in all seriousness, I wanted to write this for myself, the people just getting started, and even the people that are well on their way in their internet marketing/blogging/online venture of any kind. The hardest part about earning an income online is how much bad information there is on the web. Which is why I’ve created a free guide to increasing your income online, for people just starting out that want to know their options. The truth is, the people that are usually spewing this information are typically just trying to sell you something, and they don’t care if you make money or not. Here is my list of 7 Ways to Screw up Making Money Online.

1. Lack of Direction

Maybe you’re a newbie and just found out that you can make money online, and you’re lost as to how to do it. You may be researching on Google and YouTube, watching different videos of people telling you that this is the way, or that’s the way, etc. The amount of time that you can spin around in circles like this when looking for information is endless. The first step to getting rid of this problem is to get these ‘get rich quick’ schemes out of your head. I’m not saying that there aren’t ways to make large amounts of money online fast because there are many. But it’s much better to focus on developing and building a marketable skill online and become a master of that one thing. That’s the fastest way you are going to reach your goals. Period.

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2. Too Many Directions

There are so many different strategies to make money online, and you try to learn every skill instead of just mastering one. This one is dangerous and will continue to stunt your growth online for as long as you allow it. You need to do some soul searching and research.

What are you good at? What do you enjoy doing? Do you like writing? Consider starting a blog or offering freelance services as a writer on websites like iWriter. Do you know web design or want to learn? Watch all the YouTube videos you can on learning basic HTML and building a site on WordPress. Once you’ve developed your skills, you can offer website design and development services to local businesses or freelance on sites to get your name out there and build a client base. The important thing is to get started and gain some traction, or you’ll lose your enthusiasm.

3. Following the Wrong Leader

I was blessed, when I first started my journey online to have a good mentor and coach. Make sure that you use your better judgment on this one. Do your homework on someone, and make sure they know what they are talking about before you put your business and your future in their hands. Make sure that what they’re saying resonates with you, and they’re not just trying to sell you something.

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4. Lack of Focus

Have I mentioned that you need to focus on one thing? This is the silent killer when it comes to online entrepreneurs, it is extremely hard to have a laser focus on one particular thing when you have so many emails, videos and ads being shown to you offering the latest and greatest product or strategy to become a billionaire overnight.

Remember in heading two we talked about too many directions? You need to audit regularly where you are spending your time. If you are trying to build up your reviews on iWriter and develop a good name and reputation for yourself, you might not want to spend hours a day learning about opening up an Amazon store, see where I’m going here? Half of getting what you want means knowing what you’re going to have to sacrifice or give up to get it, then making that sacrifice over and over.

5. Lack of Money

There might not be many people out there who are actually telling you this, but you are going to need some money to get started. The amount is really minuscule though compared to the barrier of entry of basically all other business models out there. In a recent article, I talk about how I quit my job and moved to Denmark with no money but by this time I had already spent time learning and mastering my trade and had established a client base for myself.

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What I recommend for everyone just starting out is to keep your day (or night) job, and if you don’t have a job then get one! Even though the costs are low compared to other businesses, you still need to invest in yourself and your learning.

6. You’re Not Working Hard Enough

You’re going to have to work at this just as hard or harder than anything else that you’ve ever wanted in your whole life. Do you want a location independent business that you can run from anywhere? Make money while you sleep? Travel the world and work from your laptop? Ok, then you’ve got to ask yourself what you’re willing to give up to get yourself there.

When I first got started, I was working two jobs and going to college full-time, and I was tired. You know what the problem with that excuse is? The universe doesn’t care if you’re tired. It doesn’t care if you’re sick, hungry, upset or whatever other excuses you might have up your sleeve. As the great late Jim Rohn says, “You get paid for bringing value to the marketplace”. So what did I do? I found time. I basically didn’t leave my house for a whole year (as far as whatever free time I had). I studied and watched everything that I could get my hands on my chosen subject, while simultaneously applying it. That last part is key so read it again, so you don’t miss it!

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7. Giving up Before The Miracle

Internet marketers pockets are lined full of money from people who bought their product or course and never even opened it! I remember when I heard the statistic that it was something like 60-70% of people that buy a course never even actually open it up!

Think about how crazy that is for a moment.

You need to sit back and realize that there are TONS of people online really doing it! That have created a lifestyle business for themselves and you can too. You are no different from them besides the hours of work that they have put in mastering their skill. It’s all about setting goals for yourself and then working like hell until you achieve them. I wish there were some magic formula because I would be using it myself. But there isn’t. What there is, is good old fashioned hard work and discipline. My question to you is, are you going to be the 60-70% of people that resign to do something and never follow through OR will you be the other 30% that is living their dreams? The choice is yours.

Featured photo credit: Luis Llerena via pablo.buffer.com

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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Featured photo credit: Austin Distel via unsplash.com

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