So many people out there have the dream of getting up when they want in the morning, moseying on over to their laptops with their cuppa joe, doing a quick update to their website or trading a few stocks, answering just a couple of emails, and seeing that their bank accounts are thriving. They want to make money online in a simple and easy way.
They see influencers doing it on Instagram. These influencers are flying off to beautiful islands and amazing destinations in Europe and posting about how they’re making money from incredible locations around the world.
Or perhaps people read marketing, investment, and life hack blogs about how easy it is to make thousands of dollars online every single day. They see statistics that 2.9 percent of the U.S. workforce telecommutes at least half of their work time, and that the number is only on the rise.
All of this leads people to conclude that they too can work from home and find a way to make money online.
The truth is that it takes hard work to successfully make money online. So many people fail trying to do it, and end up having to go back to the normal 9-5 and steady paycheck. They simply can’t sustain a career that revolves around the internet.
Before you decide that you want to try to make money online, you need to learn about why others have failed, and how you can avoid these same mistakes.
They Pursued a Scam to Make Money Online
Unfortunately, there are tons and tons of scams when it comes to generating income online. Maybe you’ve seen ads that say, “Make $5,000 a week!” or “Take this survey to make money!” A word of advice: Don’t press those shiny buttons. They are not legitimate.
There are numerous ways to spot a scam. First of all, if it’s a button that advertises how much you’ll make, and that number is outrageous, it’s a scam. It’s not the same as let’s say, a legitimate company like Uber, which says you can make up to $500 per week driving for them. That’s true. But if it says you can make $2,000 a day, for instance, you know that’s a huge red flag.
Another way to tell if it’s a scam is if it asks you to sign up for something or pay money to start making money. If you have to pay for a job, it’s not legit.
If the “job posting” requires that you fork over your confidential information, like your driver’s license or Social Security number, it’s fake. It’s as fake as that Nigerian prince offering you $1 million through email. Don’t fall for it. People in a desperate position will often pursue these scams, only to end up poorer and sometimes having their personal information stolen.
They Don’t Dedicate Enough Time to Their Online Businesses
Your dream might be to make money online by starting a blog. However, you don’t have the time, energy or resources to really put your all into it. Maybe you didn’t save up enough from your traditional job, so you don’t have the flexibility to work on your blog 12 hours a day, like many entrepreneurs do.
So, how exactly are you going to stand out online when you face tough competition? Everybody is vying for the top result on Google’s Search Engine Results Page (SERP). If you’re not dedicating enough time to your blog, you’re not going to rank high and bring in those precious profits you need to survive.
To set yourself up for success, make sure you can devote your all to your online venture, whether it’s a blog, a social media account, a new, innovative piece of tech, and etcetera. Save up money from your current job before quitting so that you have money to use when times get tough. Seek out investors and hire interns and employees, even if they are part-time, to help you. Create a schedule, stick to it, and don’t be lenient on yourself. Constantly research your industry. Find a mentor who has a thriving online business and ask her how to make money online.
Just because your company is online, it doesn’t mean that it’s going to be any easier than being an offline entrepreneur. In fact, it can be much more difficult, because instead of being competitive with the local businesses around you, you’re now competing on a global scale.
You need to get it straight: You’re your own boss now. And you’re in complete control of whether you succeed or fail. So take the reigns, and figure out what you need to do to be successful.
They Didn’t Correctly Calculate their Income
When you work a full-time job, your taxes get taken out for you. You are aware of your hourly or salary rate. You know exactly what you’re making every year.
When you try to make money online, you suddenly have to calculate exactly how much income you’re making and what you need not only to survive, but thrive. How much does 20 cents a word for an article you write translate to in hourly or even yearly income after taxes? Should you take a $25 an hour job in order to make money online, or is that way below what you’re used to at your regular gig?
Before attempting to transform your career and take it solely online, break out the calculator and do the math. Determine what you need to make per hour to pay your rent or mortgage, your monthly bills, and your debt, and to save up and have money to invest as well. For instance, a $55,000 a year salary online would translate to $26.44 an hour. If you live in, let’s say, California, your net pay is just over $43,00 a year.
If you’re satisfied with the numbers when you perform the math, then you may be ready to jump into a new career and make money online.
They Listened to False Prophets
There are a lot of financial ninjas and rockstars out there online. How do you know? Because these people are telling you they are. Nobody else gave them that label.
If you’re going to follow the advice of one of these internet entrepreneurs, do your research on them. Have they been written about in Forbes, Entrepreneur, CNN, and other reliable sources? Do they put out best-selling books and go on national tours talking about how to make money online? Or are they just some kid living in their mother’s basement, putting out fake information to try and scam their way into a sale from you?
Do your background research when deciding whether or not to follow these “experts.” Be skeptical until you find out the correct information on them. If you can’t find anything reputable, wave that red flag high, because they’re conning you. It takes more than an internet connection and a free website builder to be a real expert in a field. Don’t listen to them when it comes to strategies to make money online, or anything else for that matter.
It’s not easy to make money online. From all the blogs you’ll read and social media accounts you’ll follow, it can seem like it is. But in actuality, it’s just as difficult, if not more difficult, than going into an office every day and making your money the same way most people do.
If you really want to pursue trying to make money online, you have to set yourself up for success. Prepare in advance. Don’t be lazy. Don’t take it lightly. And know that you’re going to have to work hard for many years to come to get that six or seven-figures you desire from your online business. And also know that you could fail at anytime, just like so many others did before you.
Maybe you want to make money online now, but you want a legitimate way to do it with little or no risk. If that’s the case, dig into Money Map Report, which will teach you how to bulk up your investing portfolio and thrive in an online workplace. What are you waiting for? Get started today.