Sunday, August 19th, 2007

Knowing When To Stop When Your Not Making Money

Here is a very touchy subject that is liable to piss a lot of people off. Before you decide to burn me at the stake, please read the whole article. It is in my opinion that this will be a general lesson that you will get more out of than you think.

There are truly a lot of people working their tails off online. Whether it is to provide a supplemental income or chase the elusive dream of quitting their job or gaining financial independence. There are literally thousands of new online entrepreneurs coming to the web day in and day out plugging into the “Make Money Online” genre.

I will tell you right now, that this is not for everyone. I have had personal acquaintances and even friends from all over the world that have gone down in a “blaze of glory”. Your going to have to face a harsh reality from the get-go that it is most likely (not all the time) going to be a very tough road, for a very long time. Now, I did not say all because I have personally helped people make money online overnight. Some of my fellow RJ members can attest for that. For the most part though, it is a long and daunting headache for awhile.

Realizing when to stop is something you have to train yourself on. Here are some identifying factors that would be included in knowing when it is time to stop:

  • When you cannot get traffic, therefore no money is coming in.

Well That was pretty basic right? Of course,  because it is going to take a lot of traffic to turn people into buyers. Marketing is always a numbers game. Even being a webmaster is a numbers game. The more traffic you have, the more likely your going to get a conversion.

If your not experienced in getting traffic, or more importantly you are experienced but cannot get any for some reason, this is a sure sign of you needing to stop. I did not say stop your online dream altogether, but you definitely need to halt and learn how to produce traffic to your sites. 

  • When you buy every informational product on the planet, and do not turn a profit with it.

This is yet another very basic flaw of people trying to earn money online. I refuse to buy a product (seriously) unless I am absolutely certain it will either A. Help my current business or B. I am ready to commit to a new idea.

Don’t get me wrong. I am a compulsive buyer of products online. I know, it sounds like such a contradiction right? The truth is that I absolutely love buying other people’s products. It gives me ideas, but more importantly I just like buying, so point made. Also, business has been very good for me over the last year, and I am more into buying information (furthering my education if you will) than I am into buying material things such as shit I do not need. If your the type that does not have money to spend like that, then the suggestion I would give you is to immediately stop buying. I have literally seen people go completely broke online. It hurts to watch this too, when you have tried everything in your power to educate them the consequences of compulsive dream chasing buying habits.

  • If you don’t commit to pushing the limit

If your not willing to do what it takes to get traffic, keep traffic, monetizing traffic and repeating the successful business then your in a position of weakness. Making money online is work. Don’t get me wrong, there are enormous benefits of working solely online, but I will tell you right now, that when I first started out, 100 hour weeks were not uncommon. Even today in the State and County I live in,  I live more comfortably than probably 99.99999% of most. I still go upstairs to my office and a short week would be about 60 hours online. Unless I am taking a break or something, and average week online is about 60 hours, and over the last month as we gear towards fall, I have been settling back into 80 hours a week.

  • You lose focus because of a successful venture

Now this is a huge mistake that I have seen a lot of marketers and people online make. I have literally seen people have a successful business venture and then within months are back to their jobs. The lure of large amounts of income that can be made online in such a short time, is enough to drive even the hardest working individuals into laziness. You cannot make this mistake. Working for yourself requires a lot of discipline. I do not recommend NOT taking a little leisure time, but for heavens sake do not think that just because you had a successful campaign, that it will continually flow. The Internet can change at rapid speeds. You need to discipline and diversify yourself as much as possible.

Using your head and intuition are going to play huge roles when working online. Making smart purchases based on your business is more critical than you think. The more you lose focus on what is important in your business, the more prone to spending habits you become. Your business is not succeeding because your at yet another sales-page. This is why it is so easy to sell to the Internet Marketing crowd. Most of them are suffering from the same major flaws, and the people that know and understand what these are, are very inclined to be armed with the most important weapon to sell with—>having you arrive in a buyers state of mind. I urge you to take a serious look at your business, and start planning out what your goals are. Knowing what to accomplish and how are vital components in making you succeed with whatever you are doing.

Off To Sleep,

Get To Work


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3 Responses

November 30, 2008

This is a topic that should be talked about again. I think often time people work on a project and can’t stop even when it isn’t profitable just because they feel passionate about the project.

If it doesn’t make you money you should move on!


November 30, 2008

Yup sometimes you gotta learn when to cut your losses!


February 8, 2010
Jeffrey

I think your right about websites that are not gaining traffic but I think there is hope.

If these websites are not making that traffic why not them selling their sites to websites that have the ability to make traffic for them and in return they’ll make commissions for this.

As a Internet researcher I have found a site that buys commercial websites and I know how it feels to build a website and at the end there’s is no traffic for you but there are alot of legitimate sites out there like this. I have decided to give you one. But hey if you combine alot like this site I think you’ll be earning good commissions out of this.

I have decided to provide this website for free without any affiliate connections.

Hope for those will succeed with this site at:
http://www.wbwso.com .