At the beginning of the week there was a guest post published here talking about why people fail at making money online. The author felt that most people fail with their online ventures due to: lack of focus, not enough action, laziness, and giving up too quickly.
All of these are great points that are spot on. After reading the article I decided that I wanted to share some more reasons with you guys on why people fail at making money online. I wanted to share a few mistakes I’ve made over the years when it comes to making money online that many of you can likely relate to…
What are your goals? How do you plan on making money on the internet? I always thought that setting goals was just a general plan for your future. Now I realize that setting goals is about figuring out your direction and how you want to get to your next destination.
My goals were not clear because I was never sure if I wanted to monetize my blog first or focus on attracting readers. Instead I tried to do both at the same time. Most rookie internet entrepreneurs will jump into random ventures without any clear goals. What are your goals?
Are you chasing the money too much? I often found myself chasing the money when I should have focused my energy on pumping out epic content. Chasing the bucks is too time consuming and distracting when you first get started. Worrying about making money right off the bat can also lead to burnout. If you don’t enjoy working on your new projects for free, you’re definitely going to be disappointed when you find out that it takes a long time to start making some real money.
Working online you’ll have many slow months and points where you feel like giving up. If you’re only in it for the money you’ll easily find yourself giving up during these down times. Don’t let this happen to you.
Are you working on random things? Do you check your stats far too often? We’re all guilty at one point or another of working on things that that just don’t matter. Many of us have wasted time at work or in real life with activities that do much besides kill time. Working online is not any different. We all start off by working on the things that don’t make much of an impact at all.
Checking stats, looking over Adsense, responding to spam emails, or going through Twitter for hours is a waste of time. If we have more “busy” time than productive time we won’t see our online ventures take off past a certain level.
While trying to write this post I did like 17 other tasks by the time I was complete. Yes I still try to do too much at once. It’s cool to do maybe two things max at the same time but anything more than that and your focus is diluted.
My only humble suggestion is that you try to spend an hour a day of totally-focused and distraction-free time where you work on doing work that really matters. After that you can get back to multi-tasking.
Those are mistakes that I’ve made. Some of the items mentioned are mistakes that I’m still making. Hopefully you guys will learn from them or at least notice that you’re making certain mistakes. The good news is that these are very minor mistakes that can be improved on easily.
“A wise man should have money in his head, but not in his heart.” – Jonathan Swift
Ask the readers– what are some of the mistakes that you made when it comes to making money online? What changes did you implement when you realized you were making these mistakes?
(photo credit: inhisgrace )
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