In this article, we’re about to uncover the main reasons people fail to make money online.
The information and methods of making money are without a shadow of a doubt already out there.
Online courses, videos, podcasts & money making blogs,...
But how is it possible to still fail?
This is what I'm going to reveal in this article, and you're going to discover 13 reasons, so you can avoid them right off the bat.
Let's dive into it.
Most people fail to make money online because they lack knowledge of their strengths and weaknesses, think that there is a magic bullet, and lack of passion of the business they pick up.
No strong “why” & No clear vision 🗺
Jimp Camp, one of the greatest negotiators used to say:
Vision drives decision
And do you know what's kind of ironic here?
Most people who want to be successful don't have any vision or strong reason WHY they want to make money online!
Which means that they don't know why they actually want to make money.
Is getting a Lambo or a vast mansion a true vision?
Not in my opinion.
And if you ask them: why do you want to succeed in the online business you picked up?
"Coz' I wanna make racks of cash, bro."
Weak why = Weak results.
So if you want to avoid this trap, come up with a strong why.
A why that no matter what situation you're going to face will help you wake up in the morning and do the work.
And this will help you overcome the obstacles that you're going to face. And you probably already heard the quote which states that:
If you don't know where you're going, there is no best path to follow!
The more you follow the money, the more you're going to be broke.
Choosing the wrong business model ❌
Flip it the way you want:
Working hard and hustling is key to succeed.
But you have to choose your business wisely.
What do I mean by the wrong business model?
Choosing an outdated business model
The wrong business model is basically a model that can be outdated.
Which means that the opportunity that you came across is no longer an opportunity. This may be due to the get quick rich scheme, a kind of opportunity that tries to trick an algorithm, or just takes advantage of a flaw in a system.
Those are, by the way, not real businesses.
Example: making money online with web directories and ad sense worked back in the days, but isn't relevant anymore…
Choosing a business model that does not align with you and your resources
If you lack of capital in starting an e-commerce business, don't blame others:
You just picked up a business that may require a lot of capital.
But the wrong business model can also be the wrong business model based on your strengths and weaknesses. And I'm going to dive more into depth. When I'm going to talk about the lack of passion and motivation. At the end of this article.
Impatience & Quitting to early ⚡️
Believe it not: Many people think that there is a magic bullet to become successful or lose weight, or get abs overnight.
But that ain't true.
A lot of online entrepreneurs think that success is linear.
They get frustrated when their first blog posts don't get any visit.
Same for their first videos on YouTube = Crickets.
But the truth is, making money online successfully takes time and happens exponentially.
Heck yes, even now, we aren't in the "golden ages" anymore where you can trick algorithms in such an easy way as in the past.
So yes, if you quit too early, you're not going to see any kind of results.
So keep grinding my friend!
What is the best time to create your own online business?
There's a popular Chinese proverb that says:
"The best time to plant a tree was 20 years ago. The second best time is now."
So the best time to become an online entrepreneur is now.
But make sure that you have all of your basic needs taken care of, and as your business grows, you can take action.
This is why I constantly refuse people in debt or have financial difficulties enrolling in my mentoring program.
Lack of focus 🔎
Nowadays, the attention spans of most people just go down every year.
Increasing distractions everywhere.
So It is no wonder people have a hard time focusing on one thing.
And if you found yourself being constantly distracted, then chances are you may not be that successful (until you find yourself a way out of that trap!)
Shiny object syndrome 🌟
Another reason people fail to make money online is that they are stuck in shiny object syndrome.
It is basically a state of mind, where you're not able to just pursue one single opportunity, but rather, you're jumping from one opportunity to another.
which means that you may start the work, or you buy a bunch of courses, ...
And at the end you're not able to finish them and go through them.
And according to Inc.com, 9 out of 10 entrepreneurs face shiny object syndrome, at least once in their journey.
You want to avoid shiny object syndrome and avoid failing to make money online?
Pick the business you want to start to make money online in wisely, so that you don't get distracted by any new opportunity that may pop up in front of your Facebook or YouTube news-feed.
Because be assured: you're going to be pitched several times a day, with new opportunities!
Focusing on the wrong tasks ✍️
You may have already heard of the 80/20 rule, which states that 80% of the results are achieved by 20% of the work. And vice versa.
The issue is that many online entrepreneurs focus most of the time on things that don't really move the needle.
This is why it's really important to regularly take a step back and analyze the work you're doing to analyze, and measure the actions that really get you results.
By pinning them out, you're going to be able to identify the actions that really move the needle to continually refine your process, and your day to day tasks to finally focus only on what matters the most.
This can be pretty hard to achieve when you're grinding all day long, because it requires to take a step back and it can really be hard, doing this.
Hiring a coach and getting an external perspective can help you avoid continuing to focus on the wrong tasks.
Not willing to put the work and believing "Make money online quick gurus" 🤑
Let's be honest for a second 😏.
Most people who enroll in online courses and want to make money online are just looking for the quick and easy shortcut, which is promoted by a lot of internet marketing gurus telling you that you can start a business:
✅with no prior expertise,
✅with no money
✅with as little as 10 minutes per day,
✅with no audience,
✅ and the list goes on And with all other sorts of claims that are just unrealistic.
Most of them just want you to get you enrolled in their course and spend one to two grands with them.
And the issue is that this kind of marketing just attracts the wrong kind of people.
Because no matter how sexy all those claims are, they are just unrealistic.
So if you want to succeed and avoid failing when creating your online business, you have to understand that you'll have to put in the work.
Nothing happens overnight.
There are no magic pill courses.
Being an entrepreneur involves more than being physically present between 9 to 5 on your desk.
It means doing the work that really is going to move the needle.
Learning from your mistakes.
And it really requires a lot of skills that aren't required when you're just working in it in a day to day job. It's just how it is.
And what's the biggest problem?
Most people aren't ready to accept that.
You have to be an entrepreneur by passion, not because it's hot, trendy or sexy.
So are you willing to take the risk of grinding for months, or even for years in order just to be successful and free?
If you have been failing because you have been trapped by all those unrealistic claims, ask yourself if you really want to make things happen?
If yes, you should definitely revise the number of hours, and the efforts that you put in your online business and answer what follows honestly:
Do I really want to be independent and create a business on my own terms or am I just better off trading my time in a 9 to 5?
Over-complicating things 🧠
Most of us (me included) tend to over-complicate things or look for some unique hack or trick.
But… making money online is not that hard, in theory.
Especially when you make things simple.
It just requires to put the right efforts into the right system.
But the thing is with all the information out there, finding out the right system may take time.
And also a lot of effort.
This is why, again, Investing in an online course or investing in a mentoring program can be pretty useful in order to get the right environment to get results.
Because let's be honest.
There is a lot of money that can be made in making things complicated.
But what I found after almost a decade of being an online entrepreneur is that you tend to get the best results with the most simplest things.
And when you keep things simple, you're also able to knock out more concrete actions that will help you keep the motivation going and see that actually things are happening.
Because a lot of complicated stuff takes just too long to be implemented.
If you want to set up a complicated funnel: One week to outline, two months to implement!
I know what I'm talking about because I have been there, too.
And, rather than doing the over-complicated never ending complicated stuff, you could just do the simple stuff in two days, and then adjust according to that.
Being misunderstood 👂
It's a fact: if you didn't grow up in an entrepreneur friendly environment, we all tend to suffer from not being understood.
We're the weird guys sitting in front of our desks all day long (trying) to make money online.
Being an Online Entrepreneur is the exception rather than the norm, especially if your family still believes in the 9 to 5 paradigm of safety.
And this can really be hard because nobody really understands what you're going through and what you try to achieve.
And while Facebook groups or other online communities can help you to feel a little bit less lonely, it's still a big issue that you may face.
It may contribute to failing to achieve your goals.
And if you're not understood, it's pretty hard for you to get any positive feedback and to relieve all the anxiety and stress that making money online can really imply.
No Accountability or having someone who genuinely cares about you 🤝
Another reason why people tend to fail, making money online is because they don't have any accountability. Which means that they have nobody to follow up with them on clear objectives they want to acheive.
Nobody can push them and help them get right on track.
Having an accountability partner may help, but don't simply pick up a random person for the sake of picking up someone..
The most effective kind of accountability partner is someone who genuinely cares about you and also knows the things that you're going through.
A fellow Online Entrepreneur is ideal.
Because an accountability partner that doesn't know what you're going through will not really move the needle and may be counterproductive.
It's tough to find people that genuinely care about you as a person, not only as a cash cow. Especially in all those "online courses".
No (or Bad) PAID Training Or Education📚
Making money online is a skill that needs to be acquired.
And let's' be honest: you can indeed find everything you need to be successful for free on the internet.
You can jump on free videos on YouTube or read some articles, but free material leads -generally speaking- nowhere.
1. You don't know if the information is complete or missing
2. Don't know if up to date or not: is it accurate or outdated?
3. You don't know where exactly you can find it
4. Overload of FREE information: which leads to analysis paralysis, too many things, strategies unable to focus, which leads us to the next point
As it is impossible for you to go through the avalanche of information out there by yourself, save yourself time, money and nerves by investing in a legit online course.
Not taking action 🎬
A lot of people accumulate knowledge like useless ornaments in their basement cabinet.
The reality is that most people don't take action when it comes to creating their online business.
And we tend to consume more rather than we produce.
But the thing is, if you want to really be successful, you have to understand that you have to jump to the other side of the fence, i.e: start producing more than you consume!
To keep things moving forward and taking no action can be, or the causes of not taking action may differ from one person to another.
Still, the most common causes are fear of failure or just not being confident of getting out of their comfort zone and trying something new.
Types And Reasons Of Not Taking Action:
- Not taking action at all: due to laziness or analysis-paralysis caused by information overload
- Taking the wrong action: when you're lacking knowledge or having the wrong information.
- Or taking inconsistent action: when you rely only on "motivation" without having a clear system in place with actions to execute
So, you have not only to take action but MASSIVE action to create a successful online business.
Lack of passion, motivation and operating outside your peak performance zone ❤️
Lack of motivation usually happens when you, as an online entrepreneur, are dedicated to and focused to achieve a specific monetary goal but aren't able to hit that goal.
What happens when you don't see that monetary outcome showing up?
Yep, you start beating yourself up.
And when you don't hit your goals, you just feel like crap.
So we could just start talking about how to set the the right goals, but the thing is that if you want to keep motivated, you have to understand that it all comes down to doing something that you enjoy.
Because what happens, if you do things that you enjoy?
Well, you don't really have to rely so much on motivation!
You only need motivation if you need to do things that you don't like.
And this is why it's so important to identify what I call your Peak Performance Zone.
It is basically the state of mind, where you can apply what you enjoy doing and what you're good at.
And at that time, you simply don't need anymore motivation.
You don't need any more hacks.
The only thing to do is showing up every day and consistently doing it.
So if you want to know more about identifying your peak performance zone, I've recorded a short 10 minutes video that will help.
I see you on the flip side,