4 Surprising Reasons You Aren’t Making Money Online…YET
If you aren’t making money online yet, it could be that you are stumbling on one or more of these 4 things.
As a freelancer, solopreneur, coach, or consultant, making money online is a bit like launching a rocket ship. Fully 90% or more of the fuel and launch effort is expended in the first 4 minutes after launch. Then, the rocket continues on — even to the moon and back — on the remaining 10% or less of the original fuel.
Your online business efforts are the same. You have to put in enough of the right kind of effort up front before you ever see the first set of results. Then, once you’ve cracked the code, the sailing becomes much smoother.
To begin, make sure you have each of these 4 things right.
1. You Don’t Have The Right Target Market
Many people come across a cool product, and then go looking for a market to sell that product to.
That is backwards.
You should always start by first identifying your target market, then find or create a product that meets your market’s WANTS.
See also: Nail Your Niche: 6 Steps to the Perfect Target Audience
2. Your Audience Is Too Small
There are tons of different techniques for selling stuff to people online. Which ones you choose to use is really a matter of preference. And, they all work.
If you aren’t getting the results that you expect from a given marketing or promotion technique, the problem isn’t the technique itself. It’s likely that your audience is too small.
If you are trying to use a Facebook technique and only have 175 friends or followers, your audience is too small.
If you only have 500 Twitter followers that you are attempting to market to, you won’t see many positive results.
If your mail list only has 1,000 people on it, you may make a little money, but not enough to support yourself.
In each of these cases, you need to grow your audience by quite a bit to see the results you are hoping for.
So a part of your effort every day needs to be to grow each of your audiences.
The key is to be consistent and persistent every single day about growing your audience and executing your marketing technique.
Even if you don’t seem to be seeing a result.
The thing is… You don’t know exactly how big your audience will need to be before the momentum will kick in and you will have a significant growth in your sales. It may be 2X, 5X, 10X, or 100X of where you are today.
But you don’t know until you get there. All you can do is to keep doing “the thing” until you arrive.
See also: 6 Must-Have Ingredients for a KILLER Social Media Marketing Plan
3. You’re Trying To Market To People Without Their Permission
Quick question…. If someone you don’t know walks right up and kisses you on the lips, what is your first instinct to do?
I’m guessing that you probably take a step back, at the very least. You might get a little angry. You may even run as fast and far away as you can.
That’s the same response that most people have when you try to market to them before they have given you their permission to do so.
A better approach is to welcome people into your audience and build a relationship with them first. You do this by learning what is important to them and providing valuable content to them. You also interact with them through stories and conversation.
Then, at an appropriate time, you provide them an opportunity to give you permission to market to them.
This often takes the form of a free offer that you give them in exchange for them opting in to your email list or other marketing newsletter. The permission may be subtle, but because it is there and the relationship is in place, your prospect will move toward you instead of away from you.
See also: Email List Building for Absolute Newbies
4. You Aren’t Learning From The Experts
I’ll never forget the day I learned this powerful principle from Tony Robbins. He said that you should find someone who’s already successful in your skill and then model what they do. This can cut years or even decades off your own time required to build that skill.
One of the things that I learned early on is to always be learning from the experts. Decades ago, I internalized these three principles.
- Read for an hour a day in the literature of your field.
- Listen to one motivational or instructional audio every day.
- Attend one conference each calendar quarter.
We have so many more resources available to us now than we did even a decade or two ago.
We can read blogs by the experts.
We can listen to their podcasts.
We often can join conferences remotely as they are live-streamed, without even needing to travel and stay in hotels.
And remember, as Christian Baloga says, persistence and passion will make you invincible.
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