5 Myths About Making Money Online
One of the most exciting topics in Internet marketing today is the idea of making money online. Whether it’s providing information products, selling courses, or promoting as an affiliate, building an online business can be a very lucrative way to make your living. And even better, it often comes with the coveted aspect of freedom. The freedom to work where you want, when you want and in many ways, make what you want.
While making money online can be an excellent way to live a life of your dreams, there are many myths around it that warrant addressing. Overcoming these common myths is the first step to being able to crush it online.
Follow along to learn what these common myths are and why or how knowing the truth can benefit you.
5 Common Internet Marketing Myths about Making Money Online You Should Be Aware of
Myth #1 – Making Money Online is Easy
Maybe you’ve heard that lately more and more people have been turning to the Internet to start a business. Maybe you’ve even thought about putting something together so you can get a slice of that “make money online” pie. After all, how hard can it be to slap an eBook or two together, toss up a landing page, plugin some autoresponder messages and watch the sales come in by the droves?
Well now, let’s hold onto our belts.
This brings us to the first myth of Internet marketing: Making money online is easy.
Unfortunately (or fortunately depending on your view), making money online is not as easy process. People who get wide-eyed and overly excited at the idea of getting into internet marketing to make money online often seem to forget one thing: It’s still a business.
- This means that it is no easier to build an online business than it is to build an offline one.
- In fact, in some respects, making money online can be even harder than making it offline.
Though not necessarily easy, making money online can be simple.
Building an online empire, or even just making a few bucks on the side, comes down to a few key things. It requires putting in the time and effort as well as a focus on providing quality, which is now more important than ever. But it mainly requires you to take action TODAY and find and follow a proven system. More on these last two in a bit.
Myth #2 – Easily Making Money Overnight
This second myth ties in with the first. Many of the same people who believe that making money online is easy also tend to believe that Internet marketing can and will make them money overnight.
Now while overnight doesn’t necessarily mean literally making money overnight, it refers to the misconception that internet marketing can make a person good amounts of money in a very, very short period of time.
- While this can happen, it is certainly not the norm.
- And more importantly, it should not be expected.
It’s pretty unreasonable to expect to “jump into” Internet marketing and be making six figures overnight, or even within the first six months. Again, it’s possible, and you can and possibly should strive for it, but don’t expect it. As mentioned in the first myth, making money online requires consistent effort over time.
Taking this approach will help you to be successful in making money in the long term.
It can also help you get to that five figures per month, six figures per year income quicker because you will already know and be prepared for this to be a long term game. And because of this you will be much more likely to keep investing effort and taking consistent action, even if (when) your first attempts don’t quite work out how you hoped.
Myth #3 – You Must be an Expert on Your Topic
Of all the things that seem to hold people back from taking the plunge into online business, this myth appears to be the most common. The idea that you must first be an expert on your topic in order to start an online business around that topic is completely false.
While being an expert (and being seen as one, which is often more important) can be nice, it is far from essential. There are plenty of people who are able to make good amounts of money online while not being experts in their chosen topic.
Becoming a relative expert in many cases can be easier and more beneficial than you think.
What is a “relative expert?’ A relative expert is someone who, though not an expert, is seen to be more of an expert on a particular topic than the person he/she is informing. An example would be maybe you’ve only coached soccer for two seasons. You are likely far from being an expert coach, however an aspiring soccer coach who has never coached soccer at all may see you as being an expert compared to them.
This is where the beneficial part comes into play.
Instead of waiting to start something after you work to become an expert in a particular topic (which can be a long, hard journey), you have at least two options available right now.
- Option 1: Pick a topic or skill you are interested in, obtain a working knowledge of that topic or skill, and begin talking about that topic and/or using that skill.
- Option 2: Make a list of skills or topics that you can see yourself already having relative expertise in and begin talking about that topic and/or using that skill.
By doing this, you are utilizing one of the most powerful tools you already have at your disposal (Hint: without it you won’t make any money online). That tool is taking action.
By taking action now, you can get started, and learn as you go. You don’t need to be an expert on your topic; you just need to know slightly more than the person you would be talking to.
In addition to this approach, you can take the stance of being someone who is “figuring it out”, recording your journey of what you learn, and reporting it back to people who aren’t as far along the path as you. This can be a great route to making money online through affiliate marketing, while you build up your skill and reputation.
Myth #4 – Thinking a “All-Inclusive Course” is All You Need
Most programs promising to teach how to make money online are scams. No surprise there. But the reason why they are a scam is important. They either require you to replicate their system (i.e. make money online by teaching “how to make money online”) or they do not provide enough of the right actionable steps for a newbie to take—steps that are critical in seeing a real result. The first one is something that people have become very familiar with, but it still warrants saying: Steer clear of these.
The second is the one to focus more on.
Rarely are you going to find one “all-inclusive course” that can take you soup to nuts from knowing nothing to making money online. The reason for this is because in order to learn how to make money online, you need to not only have the “what and how”, but you also need to have the mindset.
One of the main reasons that people fail at trying to make money online is that they are only approaching things from half of the equation. They are trying to play chess while missing half of their pieces (the most important ones).
Your mindset is critical to being able to successfully make money online.
If it were as easy as point here and click there, then everyone who bought an online program on how to make money, would be making money. And then many, many more people, likely most everyone you know, would have bought his/her internet marketing program and be super successful online too.
- But this isn’t the case, as is well known.
- The piece that is missing is the mindset.
What most courses don’t teach you is how to build your mindset so that you can successfully take the actions and implement the things necessary to make money online.
While you can sometimes find it in a course, people most likely have to find this piece on their own. And there’s nothing wrong with that, as long as you don’t believe the myth that all you need to do to make money online is by that one “all-inclusive course.”
Myth #5 – It Takes Money to Make Money Online
There is an age-old saying in business that it takes money to make money. Everyone’s heard it, and most believe it. And for a long time, it was often true. But now, through the power of the Internet, this is no longer the case.
Starting an online business is almost always going to be far less capital intensive than starting a “traditional” business. While starting a more traditional style business can (and often does) take a good amount of money to get started, an online business can typically be started with $1000 or less. And for many people, starting their online business will be less than a couple hundred bucks.
So while you shouldn’t expect to get your online business up and running for absolutely no monetary investment, don’t believe the myth that it takes money to make money online. There’s countless methods for generating revenue online that don’t require you to place any initial investment at all.
Hopefully addressing some of these common make money online myths have cleared up any misconceptions you may have had around making money online. Debunking these myths can and should give you a very good and empowering feeling. Making money online is real, and it is possible for anyone. Especially you.