Thursday, July 27, 2006

Why You Aren't Making The Money You Want To On The Internet And What To Do About It!

Publisher Note: From time to time, I find articles that nail a topic so thoroughly, I think them worth passing along. The following article expounds beautifully upon lesson #7 in my article, 10 Lessons I've Learned from 19+ Years as a Freelancer & Recruiter in the Editorial Industry.

Y. Black, Publisher

Copyright © 2006 Dan Lok
Quick Turn Marketing International, Ltd.

Many clients come to me with problems. . . The most common problem I hear from people is they aren't making the kind of money they want to make with their Internet business. They don't know what the problem is and they want me to help. I'll tell you what the problem is.

Most of these people are what I like to call "opportunity seekers." These are people who have too many sites and don't spend any time focusing on ONE business. They may have 20 or 30 websites, with each site only breaking even or making a few hundred dollars every month.

Most opportunity seekers are not making the money they want or achieving their financial goals. Why? They are making a common mistake. They have too many sites, too many interests. This prevents them from focusing their efforts and creating the six figure income they dream of.

Focus Is The Key To Long-Term Success

If you want to succeed on the Internet, you are much better off staying focused. This means starting off with one site or idea and perfecting it before moving on to the next Internet adventure. Far too many people have a "get-rich-quick"mindset. In fact, I'd say almost all opportunity seekers have this mindset. They jump from one program to another hoping one of them will lead to success.

Opportunity seekers are always the first to jump on the next "big" money-making bandwagon. It may be one thing one month, another the next month. They may try to concentrate on affiliate marketing, then switch dramatically to e-book marketing.

Whatever seems to be working for others, they jump into with wild abandon, without considering their true talents, abilities and interests. These people are looking for some easy way to make money. They think they can make money with Google AdSense or just a web page, or even with a multi-level marketing program.

This is NOT how an entrepreneur thinks!

However, this is exactly how an opportunist thinks. They always are looking for shortcuts, and then wonder why it isn't working. It isn't working because you have no focus. You must have focus. You must think like an entrepreneur. Focus is one of the most vital aspects of your success.

My advice to these newbies is shutdown 29 of your sites and focus on one site, the one that best represents your interests. Optimize it. Work on refining it. Refine your sales process and your back end on this single site and make it successful BEFORE you move on to the next site. Yes, I have many sites. But I am Dan Lok. You're not there yet. Perfect your one site. THEN you can think about moving on to other money-making ventures.

Horizontal Vs. Vertical Business

Many people have what I call a horizontal business. A horizontal business has many sites in many different niches, like hobby niches. People who own horizontal businesses have 20 or more separate business ventures.

I recommend having a vertical business instead. A vertical business is a business that has depth and focus. Having a vertical business means if you have a product in a particular niche, like stock trading, focus on selling products related to that and that only. Put all your eggs in one basket and create a funnel effect. This way you'll have one group of customers and you can become a big fish in a small pond.

You'll have all your eggs in one place yes . . . but, youll become an expert egg layer and watch all your eggs hatch with great success. Make sense?What is the problem with a horizontal business? You aren't specialized. It's almost impossible to make a six-figure income with this kind of business because you don't spend enough time on any ONE business.

When you have a vertical business, you have fine-tuned your business so well competitors have a hard time keeping up with you. People can't compete. You also build a strong client base with satisfied customers.

Think Like An Entrepreneur

So, the biggest problem people have is they are opportunity seekers. The key is thinking like a true Internet entrepreneur. Don't jump on the trend bandwagon. Don't ask what the shortcuts are. An entrepreneur has a long-term vision. You have to have a one-year, five year and ten year vision. Find out what you want your business to look like in the long-term. Ask yourself, "What do I want to accomplish ultimately?" Then decide whether your activities fit with your goals.

Stop jumping from one program to another. Focus on one program, one site and one great idea. This is what you have to do if you want to make six figures. It has nothing to do with your knowledge, skill set, experience etc. It has to do more with your focus.

Sit down. Think about it. Stop jumping from one program to another and stop getting sucked into false money-making schemes. Find out what your goals are, what you want to accomplish. This is a far superior approach. Yes, it takes a lot of energy. But it's worth it. In the long-term it's much less tiring than diversifying your business. Once you are an expert in your industry or niche, THEN you can think about diversifying your business.
About the Author: A former college dropout, Dan Lok transformed himself from a grocery bagger in a local supermarket to a multi-millionaire. Today, Dan is one of the most sought-after business mentors on the Web, as well as a best-selling author. His reputation includes his title as the World's #1 Website Conversion Expert. To find out what Dan is up to now, visit him at:
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Learn everything you need to know to work from home as a Freelance Writer, Editor, Proofreader, etc. How? Order an E-book. Receive 7 EBooks in All! Delivered right to your inbox immediately upon payment!***********************************************************************

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