Top 5 Reasons Why People Fail In Making Money Online
I was actually having a meeting just yesterday and for some reason I had a calling to write about this topic as I felt you guys really need to know this. Before you proceed I do have to apologize first if I used any hash words in this article as I am trying to show you some real facts to help you out 
I did online business for about 2 year already and I realized doing online business is actually not for everyone. This is especially so if you are currently depending on a “JOB” to make a living, in order to first start a successful online business you must first be able to throw away that employee mindset and take on the business owner mindset.
Doing internet marketing is hard work no kidding guys, I spend on the average at least 5 to 10 hours per day when I first started in Internet Marketing So if you do not have the business mindset and a sense of ownership you will not succeed. That’s so much for the mindset so what are the top 5 reasons why people fail in making money online?
Reason #1 – Did Not Focus
This is a really common mistake made by many time and time again, if you want to succeed in something you first need to know how to focus. I have seen countless number of times people who tried to open a blog and start talking about virtually everything from dog training to forex on their blogs. By doing so, you are actually not helping yourself and you are just planning yourself for failure. If you want to succeed, you should start thinking about focusing on only related topics and selected products that you want to sell online. This was actually taught to me by my mentor by then and I really did plan and focus and surprised the results you get when you focus can be overwhelming
Reason #2 – No Time
Again this is a really common problem I guess everyone has which is lack of time! To be frank, only people who are still in the employee mindset will have this type of thinking saying that they always have no time. Well I have been doing business since I was 18 year old and to be frank with you, there is always time to spare. It really depends how you allocate your time and what is more important for you
Just a word of advice, if you are not willing to spend more time for your online business what makes you think you can succeed without doing any work
Reason #3 – Information Overload Or Apply For Expensive Courses
This is a real common problem everyone including myself also faced and it’s even more common when ever I go for events where I see people simply just pay $3,000 to $5,000 for courses hoping to find a quick fix for their online business. The truth is that, even if you go for the courses or buy information product but if you did not bother to try them out and TAKE ACTION, I can ensure you will not succeed regardless how hard you try to keep on learning new stuff.
I was in similar shoes like you guys before, whenever I got something new in my hands. I would actually try to learn everything but end of the day I realized I did not even do a single thing about what I have learn. Do you know why? It’s real simple actually, the truth is that we are just plan LAZY to take action on them I know some of the words here I used are a bit hash but it’s the true fact, everyone who is not successful are just plan lazy and do not take action.
So what should you do when you faced information overload or not too sure on some stuff? Well ask friends, ask your mentors or go online to research on them! Do not just sit on it, go out there on the internet and find the answers you need and do them Never let something you are not sure stop you from making money online because I can bet with you everyone is equally lazy but if you want to succeed always do more then what is needed to succeed that’s what a real successful business man has
Reason #4 – Lack Of Consistency
If you are new to making online money, please listen to what I am about to say because this point is really true. I remember when I first started blogging, I got absolutely no clue if what I do would make money to be frank. But I was determined to make money from it so I worked really hard to put content on the blog almost everyday on the blog. If you think you can start an online business and start making those thousands of dollars which you see what others earn in one day well you can slowly DREAM ON! The true fact is that it will not happen unless you have a firm plan for your business and being really consistence in your work then will you be able to see the results you desire!
The recommended time frame to seriously try out any online business would be at least 6 months into it before you can determine doing online business is for you. Here’s are some real facts I gathered from some of my friends and myself
- I only made my first US$1,000 after 8 months of doing online business
- My friend from Ebay actually takes 6 months to start earning from her listings
- Ewen Chia a great friend of mine took well over 5 years before he became really successful online
- Another friend into the design niche spend well over 6 months+ before he started generating about US$1,000 per month
So as you can see, what you see on the outside may not always be true But what I can promise you if you are consistence in your work and really spend the time marketing your website or blog you WILL SEE RESULTS that you desire
Reason #5 – Spend Too Much Time On Learning
I remember about a year ago when I was a real newbie back then, I had met lots of friends at events who simply just keep on signing up for expensive courses and kept on learning but never seem to make money. I even know a friend of mine who spend well over $12,000 in attending internet courses but was he successful? Well hardly from the last time I met him and do you know why? The courses that he sign up were all in different niches and topics, from PPC, Article Marketing, Affiliate Marketing , Book Publishing and much more. Can you be an expert on all the topics? Well the truth is you CANT! Do not be the jack of trades and master of none! Focus on being an expert in something that’s my advice for you if you want to succeed.
I realized especially newbies, we tend to be over excited by information and just want to keep on learning and learning new stuff. But if you keep on doing that you are really planning yourself for failure. How do I know that? Well I did that exactly for 4 months and I only make only US$100 max per month During that 4 months, I just was too busy learning and learning new stuff but I realized 80% of my free time was spend on learning and 20% of my time was into implementation and testing. If you really want to succeed you should do the opposite SPEND MORE TIME TAKING ACTION in fact at least 80% of your free time should be spend on taking action!
Summary
So that’s it guys, here are the top 5 reasons why people fail in making money online, I do have to aplogized if I used any hash words in this article but what I really want you to take back is “SYSTEMS ALWAYS WORK, IT’S PEOPLE THAT FAIL” One factor that really help me to be where I am doing also because I really got a strong desire to succeed, not because I want to make money but I MUST MAKE MONEY! If you want to know what gave me that motivation you can read my personal true story here.
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Thank you Alvin. This is very good article. I totally agree with you. My problem is #3, too much information in my brain.
Alvin,
Nice article. I couldn’t agree more. Just a few days ago I posted a similar post as it seems like failure is in the water right now. It’s not to bash anyone, it’s just a lot of people are having trouble. Posts like this should help those in need.
Hi Alvin.
Everyword is true, is like you are actually referring to me.
i am quite new to this i am highly motivated, and i willing to learn
Hi Alvin,
Thanks for the wake-up call.
I started exploring IM about 6 months ago but only spend more time and focus in the last 3 months, and I can see that the traffic is improving but the $$ has yet to come.
I am trying out the various techniques or the business model but focus on a specific approach.
Yes, I bought a programme ( thinking it was a good offer..? )and only managed to cover a few chapters as I felt that it is not teaching me anything new from the workshop that I have already attended. I stopped and worked on my site etc instead of continuous learning and information explosion or being too distracted. I also stopped all unnecessary subscriptions that are not in line with my action plan.
I now know how it is like to be an enterpreneur or a businessman. A lot of sacrifices and if you do not spend time on your IM, you will not see results.
I was having a long lunch with some friends and I told them that they are still being paid while we were chatting away but I am not spending my time building up my IM business….!
There is no easy way to make $$…., I suppose.
I believe I have overcomed all the 5 reasons stated above but yet to see results. Time and patience will tell …. and hopefully, I am not barking up the wrong tree… more like not getting into a niche product …. as I think the business model works based on the results todate.
Regards,
David
Oh dear… you bare me! All points that you mention in your post are really truth. I’m waking up now and you’ve enlighten my way.
#4 I reached my first $1000 after 6 months already. My “business plan” was reaching $1000 asap, so after month 6, the consistent drive was gone as “the business plan” was reached.
#3 Ask your mentor: this I totaly agree: ask what you don’t know and get yourself a mentor. By now Alvin you know you are promoted to my mentor as here is my question:
“what needs to be included in a business plan?”
I would recommend in your business plan, you need to have a weekly assignment task you can set to do..
For example you can say like I want to use X traffic method for 7 days and using it for 3 hours per day.
Then you track your results after 7 days.. what results you have. So after 7 days.. you get let’s say 400 hits but only 1 or 2 sales.
So now you know your conversions, that after 400 hits you earn US$100. So if you want to earn $1,000 then just do 10 times more! If that’s too hard for you.. then outsource to someone to do the traffic method for you
I have to admit, I’m a bit on an information sponge – I just love learning new stuff and can easily lose days, deep in thought over new learning materials.
In the long term, I truly believe the things I’m learning will help me create fantastic sites and products that can really help people. In the short term, however, it’s not doing my wallet any good!
Rob
Alvin,
I don’t feel that anything you said was harsh,it was only honest. Having said that my biggest problem is marketing. Being a newbie I’m not sure how I should market my blog. Any suggestions?
Bobby
Hi Alvin,
Thanks for your answer, attracting traffic is never a problem, monetizing is
The multiply by 10 method I also started using, but a limit of 24h in a day is a reality. Outsourcing is an option, any suggestions?
Your “weekly assignment” that I call “steps to take” and “evaluate the steps”. Very important to do for sure, but…
that can only be possible if there is a “bigger plan” covering these weekly assignments.
So my ultimate question is: “how to make a bigger plan”.
Great Post Alvin,
It really cuts through the lack of reality that is consistent in many people starting out in the online business. I am the front end of implementation myself and it was great to read your points. I related the most your point on spending to much time learning. I am a sponge like Rob above but I reckon I have had a 40% – 60% ratio of learning to action. I can see a 20% to 80% ratio would speed up my results no end.
Thanks for the advice and keep up the great work.
Tim Lassig
http://www.preservemyfamilyhistory.com
Alvin, the words you used are not hash and harsh, I would say if we do not success, I believe it will be even painful to ourselves.
Yap, too much information and too many things to learn. As I always say, if you don’t focus and take action NOW, you will not get your result.
I agree with all those points Alvin.
There is another issue though that we have to deal with when we start and that is the number of confusing, conflicting business models and advice.
Everybody, of course, is trying to sell you something and without knowledge of Internet Marketing a beginner is unable to distinguish fact from fiction.
It took me a year to sort out the basics. I do not think everybody has to take a long time getting going but it does depend also on previous experience. I had zero business and marketing knowledge-so as well as learning Internet techie stuff I had to learn marketing also.
I was also trying to do this alone at first. Joining a mastermind group was about the best thing I did and choosing to work on something that focussed my abilities on my strengths was the second best.
Getting out from your computer is an important step. Going to Internet seminars to meet other people is a great opportunity to team up with like minded people is a great boost and you can learn more from them than in the seminars!
All The Best
Alex
thank alvin,, now i was try get traffic by your skill
Alvin
Thank you for a great article. I can really Identify with it. I am a newbie (4 weeks now) and have been reading frantically every day. Mostly because everything is so very new. I have also subscribed to ‘hundreds’ of newsletters etc. Dealing with my inbox is a major challenge everyday. I have spent some money on programs, one of them Atomic blogging which I started studying yesterday. I am ready to start doing now, and will try and register a wordpress blog within the next few days. I am stuck on deciding on a name. I have also started to unsubscribe from many mailing lists! Believe it or not, this is my first ever reply to a blog.
Freechoice at
mrfreechoice.com
I think Alvin writes how to choose a name in Atomic Blogging, just choose between:
-a name that sticks out and is easy to remember (like yahoo) is you are good in promoting yourself in communities or by word of mouth
-a name that states exactly what people are looking for (keywordphrase) when you are good in SEO.
Make sure you have a dot com (I know why because I have a dot net
)
Hope that helps and Alvin’s flu gets over so he can answer more
Alvin
Thanks for a great article. I really identify with most of the points you make. I am a 4 weeks old newbie and have been eating, drinking and dreaming IM for the past few weeks. I also suffer from information overload and I hate the hype about making thousands in a day. I have spent some money, most recently on ‘atomic blogging’ and have started studying the material. I hope to install a wordpress blog withing the next few days, but am still stuck on some of the techicalities, also on a name. The keyword-research is not proceeding very well. But you have inspired me and I hope to be blogging on one leg quite soon.
mrfreechoice.com
Alvin, thanks for taking the time to point out things for failure. Everyone has suggestions for success but we all need to hear the other side of the story as well.
I watched your video recently where you said you had the flu and weren’t feeling well. I hope you are feeling better now.
Best regards,
Kevin
Hi Kevin,
I am doing great now.. thanks for asking
All of these are very great points Alvin. When I first got going, I was bouncing all over the place. Simply because, at the time I didn’t know any better. It isn’t until I started following systematic processes day in and out, when things started to click. Great post, and I’m sure it will help many people.
Cheers
Davin
I agree with you Alvin. These are what happening to me now. Reading your articles awaken me.
Thanks Alvin.
It is always good to go back to reflect on our basics when we cannot make further headway or are confused. Thanks for the reminder.
Concise and right on target, as always Alvin! Thanks. Good comments above, too, consistent with what I learned from corporate planning: (1) based on research, make your strategic plan, (2) break it down into major tactical goals, which then are broken down into (3) action plan steps – with specific tasks assigned dates and times.
This leads to your daily/weekly assignment lists – and you check things off as they are done. Focus on those things first, THEN check your email and such. Otherwise, email, Facebook, etc. will suddenly consume all your time.
But study you must – and big time at first to get a grasp of the industry and develop a sound plan. Implementing a plan that is not strategically sound makes about as much sense as rearranging the deck chairs on the Titanic!
Then don’t get into analysis paralysis. Start acting on what you are learning. Adults learn by doing, so if you don’t “do,” you will forget and never get back to it. And if you don’t “do,” you don’t earn. I know.
Being new to IM and overwhelmed by the vast quantities of information (and conflicting advice, different business models, etc.), I have been guilty of being on the wrong end of the 80/20 rule.
To make money, you have to start somewhere, implement, evaluate, revise, re-implement, and keep adding elements. It’s impossible to do it all at once. As an over-achiever who was always at the top of the class, I want to know it all, and know it now! But there’s too much, and it’s ever-changing. So just DO IT!
Consider this “truism” that military generals know: “A plan that is just marginally superior will suffice if the timing is right. The most perfect plan will fail if the timing is missed.” So we have to do it NOW!
I’m preaching to myself…
Thanks again, Alvin, for the reality check.
Glad you’re better.
Margaret
Alternative Medicine and Herbal Medicine – The Stuff Main Media Will Not Tell
Very good advice and a wake up call for many of us. Thanks for helping me to understand how to blog successfully.
There’s so much information out there on blogging that one can become confused. You certainly help with clearing up this confusion…Keep up the good work!
A good article, and I can see from the comments that others are reading it.
Actually reasons 1, 2 and 5 are all pretty much related. No time,in particular, is never a reason not to succeed. It’s a symptom of a problem.
When we decide we want to succeeed more than watching a football game or hanging out with friends, or sleeping late, we can succeed.
Now I’m not saying _not_ to do any of those things … we each have the right to chose … but there is always time for what we want to do _most_ … we just have to make the choice.
John Chow made a pretty good observation on this a month or so back … we all are pretty much where we truly want to be.
Great post, I actually read it 3 times, so to keep in mind, I agree with changing mind set, but one thing I realize is not everyone can really do it, as there are many things that force them to hit the ‘Concrete Wall’.
You see, the average people has all kinds of stuff going on in their lives, they always have to think of their bills, kids to feed and bosses at work to please etc…and because of all this stuff in their mind they will tend to be lazy and slack when they have the free time as they think the free time is the time that is given for them to be lazy and slack.
The sad fact is, while they are lazy and slacking, they’re paying dearly for the time they didn’t make use of…
Thanks for great Article. I have been dooing this for more than 5 years most of that time was wasted chasing to many things and trying to learn way to much at one time.
I spend at least 8hh and 12 to 14 some days . I agree 100% you must focus and stay on the task at hand. I read some where the other day an article on staying focused and it said when you are working on a project in your business and you come across something that looks interesting and you want to follow it , Just tell yourself if it is not related to what i am doing right now it doesn’t exist and leave it alone . If you see some software,ebook ow whatever if you cant use it in the next 24 hr. on your project don buy it.
I myself need to improve greatly in these areas staying focused and not chasing Rabbits is a big problem with me. and i see how it has effected my success.
Building a Business requires some sacrifices of time and money and if you ,like me have very little money then you must put in more time on things that will bring in more free traffic and better conversions Just be persistent Time invested in building your Business is an investment that will give a large return later. Just believe in yourself and keep on track.
Tell me more Alvin I need it.
Wesley
Very good post
Alvin, thanks for taking the time to point out things for failure. Everyone has suggestions for success but we all need to hear the other side of the story as well.
I watched your video recently where you said you had the flu and weren’t feeling well. I hope you are feeling better now.
Best regards,
Kevin