Reasons Why Most People Fail to Make Money Online

The reasons why most people fail to make money online are not difficult to determine after talking to several individuals.  This article will address a number of those reasons.  Like many people, I use social media to promote what I do, to offer tips on ways to make money and scams people should avoid.  In doing so, I encounter a lot of people.  By their comments, I can get an idea of who is determined to make money online and who isn’t. 

Being successful offline or online requires work, knowledge, skills, effort, dedication and time.  For most people, making money will not happen over night so it is imperative to be realistic.

The following is a list of some of the most common reasons why people fail to make money online or offline.  This is not an all inclusive list, but many people fall into one or more of these categories.

>>>>Affiliate Disclaimer:  Some of the links on this page are affiliate links. If you click on an affiliate link, you will be taken to the merchant’s website. If you decide to purchase that product, I stand to make a commission on the sale.

Lack of Initiative – Lazy

One of the most common reasons why people fail to make money online is due to lack of initiate or to put it bluntly, they are lazy.  I often receive messages from people asking me to show them how to make money online.  They basically want me to provide them with sites that will allow them to make money without any effort.  There are sites that are considered “easy money” but they certainly do not pay well at all.

If you are not willing to give up some free time to dedicate to your business, success with elude you.  It is not uncommon for me to work on Saturdays and Sundays.  There are times I would rather be doing something else, but I set a goal to be successful with Affiliate Marketing and making money online.  Playing, watching TV, taking long naps or socializing will not help me reach that goal.  The same goes for you.

Lack of Training

When you decide that you want to starting making money online, it is important to think about what your current skills are.  If you are not willing to learn new skills or invest in yourself, then learning how to make money will lead to frustration and failure.  The Internet provides a vast amount of information, so good and some bad.

When I first started trying to make money online, I knew very little about which sites offered accurate and helpful information and which sites would sent me on a wild goose chase. That didn’t stop me from trying.  I started with a few free courses and then eventually took some paid courses. 

If you are serious about wanting to learn how to make money online, I strongly recommend setting up a ‘training’ budget of no less than $50.00-$100.00 initially.  If that is not doable, you can still take advantage of some of the free courses, blogs, articles and videos available online.  It may take you longer, but it is still better than giving up.  There is no need to spend thousands of dollars to learn how to make money online or even offline.

I recently posted a review of Wealthy Affiliate.  I state in that review, ‘if I had to do it all over again, I would have joined Wealthy Affiliate as a premium member’.  By doing so, I believe it would have enabled to me to nail down what I wanted to do much sooner.  I would have also had the ability to communicate with thousands of other people within the Wealthy Affiliate community.

I am using Wealthy Affiliate as an example, but there are other options available for training.  For example, Udemy offers a wide variety of training courses, some free and some paid.  It is an online or eLearning platform.

Lack of Knowledge & Skills

This reason can be tied into the lack of training category but I wanted to separate it.  You may already possess some knowledge and skills like having the ability to write or edit images.  You may already know how to build a basic website.  It is important to take what you already know and further develop those skills and enhance your knowledge.  You don’t have to be an expert, but you do want to be proficient and competent.

You need to answer the following question:  Will my current knowledge and skills aid me in being able to make money online or do I need some additional training to help develop the knowledge and skills I need?  I suggest making a list of your current knowledge and skills related to making money online or another niche’.

When I first started, I knew nothing about WordPress, blogging or making videos.  I took the initiative to learn and today I really enjoy all three.  Did I take training to learn them?  Yes, and I applied what I learned to develop my knowledge and skills.

It’s okay to not have the necessary skills because you can learn them.  We all started out as beginners or newbies.  Another option if your budget allows, is to outsource to people who are already skilled in some of the tasks you need to complete.

Impatient

We all want to make money online as soon a possible, but for most it doesn’t work out that way.  I started my venture in 2014.  I got frustrated, overwhelmed, and discouraged when things didn’t work out as I thought they should have.  I was impatient and that just made things worse.  Building an online business and blogging takes time.  Determining which products to sell or promote requires research and testing.

If you feel your emotions getting to you, take a step back, and regroup.  Look at what is working and what isn’t working.  It helps to take break when you feel like you are getting no where, but giving up should not be an option.  Impatience can lead to giving up too soon and I have seen many people give up after only a few months.

No Plan

This is where some training can really help.  Don’t expect to jump in and be successful without a plan of action.  Any business, whether online or offline requires a plan.  Take advantage of the free business plan templates available online and set a path you are going to take.

Promoting Poor Products/Scams/Schemes

Make sure the products or services you are going to sell or promote are in demand.  Make sure they are quality products or services.  There is a a lot of crap out there and you want to avoid those low quality products and services of you want to establish trust.

Scams and schemes are heavily promoted by many unethical people.  Always research anything you are going to get involved with.  Avoid Ponzi schemes, pyramid schemes and scams.  Just because people are making money with those, doesn’t make them good opportunities.  It’s a choice.  You can be part of the ethical population or you can choose to be part of the problem and promote unethical opportunities, products or services. 

I made the decision to not get involved with ponzi or pyramid schemes and scams.  They might be easy money if people don’t research them first, but in the long run you will establish a bad reputation.

Do not take consistent action

This is another reason people fail to make money online or offline.  Businesses require attention daily, especially in the beginning.  Again, don’t be discouraged if your results are not want you want or expect.  This is an important reason to have a business plan.  It will help you determine which actions need to be taken and how often.  It will also help you prioritize your tasks.

If you are working a full time job, you can still work on your business.  Set aside time to focus and remain active.  Working nonchalantly or when you feel like it, will not get you anywhere except back to the negative emotions I mentioned above.

Information overload or Shiny Object Syndrome

Information overload is a big cause of failure.  I tell people to learn a little and apply what you learn a lot.  Don’t try to take a full course in one day or read five eBooks without allowing yourself to absorb some of the information and apply it to the real world.

Shiny object syndrome is a common term used in the online business world.  Don’t be lured into to everything presented to you.  Pick a few things, like training courses, niches and stick to them. Trying to take on too much in the beginning is not realistic and will only distract and overwhelm you.

Don’t get caught up in the so called, ‘money making systems’.  Most are crap and will not yield a profit.  In the time I have been online, I have yet to find a legitimate money making system.  What I have found is that the only people making money from them are the originators of the crap system who could quite often be considered scammers.

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Fear of Failure

A large percentage of the population have a fear of failure because they don’t want to be embarrassed or look like a fool.  Having a fear of failure is a mindset and can be changed if someone is willing to try.  When I started on my online venture, I didn’t tell anyone in my family or any of my friends.

Too much of the population is still stuck in 9 to 5 job mode and few understand someone’s desire to make money online.  When you try to explain what you are doing and why you are doing it, they give you the ‘deer in the headlights’ look.

Expect easy and fast money from get rich quick schemes

I see a lot of people promoting scams that promise unrealistic income amounts. Legitimate opportunities will not make those claims or promises. Legitimate opportunities require work and dedication on an ongoing basis.  Don’t fall of those get rich quick schemes.  They are a waste of time and money.  Getting involved with these will surely send you down the wrong path.

Failure to build relationships and trust

This one involves email listing building.  You probably hear a lot about ‘the money is in the list’.  I don’t buy into that concept because a lot of people make money online without using an email list.  So many people collect emails for the sole purpose of promoting their products.  They don’t try to build relationships and trust before sending promotional emails to their subscribers.  That’s people lose email subscribers.  I wrote an article about that very subject titled Reason You Are Losing eMail Subscribers.

>>>>Affiliate Disclaimer:  Some of the links on this page are affiliate links. If you click on an affiliate link, you will be taken to the merchant’s website. If you decide to purchase that product, I stand to make a commission on the sale.

 

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Conclusion

I hope this article helps you understand some of the reasons why people fail to make money online or offline.  Remember, it’s okay to start from zero because you can learn the required skills and put them to good use. 

Never allow yourself to be intimidated by the online business world.  It can be very competitive.  You will encounter people who are willing to assist you and others who will not give you the time of day.  Just keep going, stay positive and take action consistently.  If something isn’t yielding positive results, either stop doing it and try something else.  Utilize forums or join a membership website that has a community of people you can reach out to.

 

Additional Information:

How To Avoid Work From Home Scams

Legitimate Home Based Business Ideas

Learn & Earn at Wealthy Affiliate

Side Hustles You Can Start Now

My Top 6 Ways to Make Money Online

How to do affiliate marketing with no money

Learn about 5 home businesses you can start for free

Learn about the Yoonla CPA affiliate program

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