February 13, 2008

Don't Let These Two Monkeys Wreck Your Online Business

Are you still looking for the ultimate way to make money online?

Sounds like a trick question right?

Well not exactly. I think there’s always room to research other, more effective ways to build your online business. However, you need to already be making money consistently before you start thinking like that.

Two very common mistakes I see most beginners and intermediate marketers make are due to a lack of ‘stickability’ and ‘overstretch’.

Stickability

You can’t possibly expect to build a business if you don’t spend enough time on it. There’s no point building a great looking website with all the trimmings if you’re not then prepared to do the things necessary to drive traffic to it. And of course it’s the traffic that is going to make you most money.

This is a particularly common problem and one I confess to falling into myself even now. Boredom and a lack of interest is often the cause. If you build a website around a subject you have absolutely no interest in, the chances are you’ll not devote nearly enough of your time on it to make it successful.

Stick with projects that you’ll enjoy and be interested in and you’ll find the whole process so much easier and more profitable. If you create the right website, have a system to collect names and email addresses and have a follow up autoresponder series, then even with a small amount of traffic you will make money.

I know it sounds all too easy, but believe me it is!! Even a list of 250-500 subscribers can bring you in a very good income. But if you don’t spend a little time on the site on a regular basis or you never email your list, you’ll not make any sort of money.

Overstretch

This usually goes hand-in-hand with ‘stickability’. But the difference here is that you actually try to maintain all those websites that you built and don’t really have any interest in.

Do you have more than 3 projects going on at any one time? If you do the chances are you are in ‘overstretch’ and your business is suffering because of it.

Again, don’t feel like you’re the only person in the world trying to juggle half a dozen projects at any one time. This is a massive problem that must affect nearly everyone at some stage. The result is you don’t make much money with any of your projects!

It will take you at least 3 times longer to complete 3 projects than it would if you were to spend all your time and effort developing one project at a time.

Not only that, once you have completed a project and you spend a small amount of time each day to bring in traffic, that website will then be making you money while you work on the next one.

Makes sense right?

So decide on which project/website you want to work on the most and get it completed. Forget about everything else (unless it’s customer support related) and get that project completed. You’ll be amazed at how quickly you can get websites built by focussing on just one single project.

The reason I wrote this short article is because I’ve spent nearly ALL my time online making the exact same mistakes. It was only when I really forced myself to concentrate on just one project at a time that my income started to pick-up.

I honestly believe the significance could be the difference between success and failure for your online business.

~ Peter Tremayne

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Filed under Blog, Internet Marketing by Peter Tremayne