In this post, I’m going to show you 9 reasons why people fail to make money online and how to avoid making these mistakes. A lot of people fail to make money online but there are also a lot of people thriving. I thought I list up a few reasons that separate one group from the other.
So here are…
9 Reasons Why People Fail To Make Money Online
Reason #1 Continuously looking for new opportunities
This is definitely one of the biggest reason people fail to make money online.
There are so many ways to make money online it’s absolutely crazy. I wouldn’t be over exaggerating if I said every day a new program or course comes out which teaches you how to make money online. It makes it easy when you hit a road bump on your journey towards making money online to look for a program that’s easier. The problem with this is that doubt, frustrations and even fear are all part of the journey. No matter what method you’ll choose the roadblocks will always be there.
If you suffer from always going for the shiny object it’s time to make a mindshift. An entrepreneur is mainly a problem solver. You notice a problem and come up with a solution that you can provide in exchange for value but this same resourcefulness should also be applied to your own process.
Those roadblocks aren’t going to disappear all of a sudden you have to tap into your inner resourcefulness and experiment with things to succeed. The moment you do this you’ll realize that all the things you tried out in the past would’ve probably worked out if you took this approach.
Reason #2 Starting out with unrealistic expectations
Not having realistic expectations is in no way your fault. Honestly… As hard as this is to say for me as a copywriter the people doing sales for all these products are at fault for putting unrealistic expectations in peoples head in my opinion. A lot of sales is psychology. We know most people are don’t want to invest energy and time in working on thing like earning money online and a lot of people take advantage of that by creating for example these so called do-it-for products or make passive income in days programs.
The truth is to make money online you’ll need to invest a lot of time and energy. Just because you’re doing it from your laptop doesn’t mean it’s not work. That doesn’t mean all the stories about making 10K in a day or making passive income aren’t true but getting to that point isn’t a pick nick.
The same applies to how much money you make with all these methods. Not everyone that earns money online is a millionaire and most people that have gotten to that point didn’t get there by just doing one method. Most of the time they combined multiple ways of earning income in a way that they work in synergy.
They combine online courses with affiliate marketing, affiliate marketing with email marketing, dropshipping with email marketing etc. This doesn’t mean you can’t live comfortable just focusing on one method but don’t compare what you’re making to others because you don’t know what they are offering to there clients on the back-end of there business.
Reason #3 No Execution
I really hesitated when it came to putting this mistake on the number 1 spot because you’ll undoubtedly amount to nothing when you aren’t executing. The moment someone online says you don’t have to do anything or you just have to push on one button and money will pour in…. Run!!!!
Yes it’s definitely possible to make a passive income online but you’ll have to create a foundation before that’s even possible. I for example promote affiliate products on this website. To get to the point I am now I’ve been creating search engine optimized pages for a very long time to get as much ranked content as possible because ranked content equals 24/7 free promotion all over the world.
This means always researching new topics, constantly experimenting, writing 2000 word posts 3 times a week, promoting the website on other platforms and more. This is the bar minimum for creating a passive income by promoting affiliate products on a website.
Reason #4 Lack of proper education
This is a big one! In the past I’ve been on a lot of entrepreneurial endevours and what all of them had in common was that education was needed. You might have considerable knowledge in the niche you’ve chosen but to actually make money online you need to know a lot of things that don’t have anything to with your niche.
In a lot of instances you need to know things like:
- Making a website
- Marketing a website
- Creating salespages
- Creating funnels
I’ve wasted so much time being arrogant thinking I could do everything without any help. We all got blind spots when it comes to our self when it comes to knowledge I’m 100% sure there are also a lot of things I still don’t know but continuously trying to get proper education will speed up the journey and make sure you won’t waste money and time.
Reason #5 Lack of support
Support can help you in so many ways. Succeeding in online entrepreneurship is one of the hardest things you’ll ever do. I remember not knowing a lot of people in my vicinity that actually succeeded in making money online. There were some people dabbling with it but they were not people that could motivate you when you had doubts about continuing or staying consistent. When you have proper support you can always turn to them when things are getting tough.
I have benefited a lot from having proper support not only from an emotional but also a technical standpoint. Having technical support can save you so much time it’s crazy. I remember having all these small technical difficulties that could’ve been solved in minutes but since I didn’t know how to solve them I’d struggle for day with.
I’ve also noticed the moment I got proper support I was quicker to take on new things in my business because I knew when something went wrong and I’m in over my head the support team would have my back.
Reason #6 Picking The Wrong Niche
I keep saying this mistake is a big one and I don’t want to say it anymore but… This is also a very big mistake that cause people to fail at making money online. There are multiple reasons why picking the wrong niche can lead to failing to make money online. A few of those are:
1. Too much competition
Just because there aren’t many people trying to make money in your immediate environment doesn’t mean there isn’t competition. The moment you go on google and you type in a niche sometimes more than 50 pages with results can appear. That’s a lot of content you potentially are competing with.
There are all kinds of ways to find out if you picked the right niche. I personally check keyword tools to find out how much competition I’m dealing with. They can show you how many websites use the name of the niche as a keyword, how many people are looking for content and products regarding your niche, and how many people you can expect to visit your website once you ranked it on search engines for specific keywords.
Honestly… I think most of these keyword tools are overrated and they charge way too much to use them so I’m gonna do you a favor. One of the side widgets on my website is called important pages. Under important pages you’ll see the link free keyword tool. It will direct you to a page where you can use the jaaxy keyword tool for free. Create a free account (No Creditcard needed) and you can use it 30 times for free.
2. You lack interest in your niche
Creating a niche website or platform is simple, but it ain’t easy. Your motivation and mental toughness will be challenged numerous times.
You might spend more than a year trying to create a consistent traffic stream to your website without having any feedback and after exerting so much energy have nobody buying affiliate products. These are some challenges you’ll have to deal with while consistently creating new content. To persevere through situations like this is so much harder if you’re not interested in the niche you’re creating content for.
I’m paraphrasing right now but Tony Robbins once said to succeed you need to be able to push yourself, but you also need to be pulled by it at the same time. The moment you’re genuinely interested in what you’re doing you’ll feel that pull that’ll keep you on the right track.
3. Niche isn’t profitable
There are a lot of Niches to pick from but that doesn’t mean you can earn money with all of them. Just like with any entrepreneurial endeavor it’s best to do some research before you invest time, energy and money in it. A lot of people fail as entrepreneurs because they try to sell products that nobody wants.
So before you begin you need to know a few things.
- Is the Niche big enough to make money
- Can you solve a problem they’re dealing with
- Are they willing to spend money for your solution
You don’t need to be an expert in a Niche to make money. I know a lot of people making money in niches they knew nothing about when they started. You just need to be interested in it and willing to spend a lot of time learning new things.
Reason #7 Listening To People That Have No Experience With Online Entrepreneurship
Even though there are millions of people making money online it’s still not accepted as a real job by most people. The majority of the world doesn’t make money online so they don’t understand what the process to attaining digital success is like. They’ll try to give you advice but it’s based on their own jobs and to someone trying to make money online that can be very damaging.
If you for example do affiliate marketing you might spend more than a year trying to get ranked with no immediate return of investment. The moment you wouldn’t get any money at a normal job after a year you should probably quit. Imagine everybody around you say you should quit. Things like this can add to the doubt and frustration you’re already feeling.
You want feedback or help talk to people who actually have knowledge and/ or experience when it comes to online entrepreneurship. They have the tools to clearly look at where you’re at on your journey and if you should pivot into another direction.
Reason #8 Creating Mediocre Content
You might promote or have the best products for sale on the web but if nobody knows about it you’re not going to make any money. This is why a lot of online entrepreneurs resort to content marketing. Content marketing can kill two birds in one stone. On the one hand it can help you get noticed and on the other hand it can help with building a relationship with your potential customers.
This doesn’t mean you can make random posts or videos and expect a lot of traffic to come to your website. You need to be able to make quality content. This doesn’t mean you need expensive camera’s, microphones and editing programs just make content that people like.
There are people out there that get thousands of views and have successful websites that mainly use there phones to create content. My advice would be to look at other people in your niche that are making money online and take the elements that work for them and make it your own thing.
Reason #9 Quitting too early
DON’T QUIT… Seriously DON’T QUIT! The one thing everybody that failed at making money has in common is that they quit way too early. Like I’ve said before people have unrealistic expectations when it comes to earning money online.
There’s often this period I call intermediate purgatory. In this period you’re just creating content and you won’t get any feedback. It feels like walking in the middle of the dessert while being thirsty and no matter where you look you only see sand. Just keep on walking! Eventually you’ll find water.
I haven’t met anyone that had the education, the support and kept on going atleast for 18 months that failed at making money online. Avoid the mistakes I’ve listed up here and you’ll be fine.
The Psychology behind succeeding as an online entrepreneur
Most of these reasons are based on having the wrong mindset. People who make money online are insanely stubborn and open to listen to other people at the same time. This sounds very contradicting but that’s the truth. You need to be stubborn enough to not let external factor drive you of your path and you need to be open enough to feedback so you don’t waste time trying to reinvent the wheel.
I hope you got some value out of this post.
See you at the next post!