I can guess that like me when you first started your journey to making money online you came across ebooks/courses/gurus who promised fast money with little effort!
Hopefuly you quickly moved past those without wasting much money and realized they were all bull shit!
So is there really a “secret” or “blueprint” or “formula” to succeeding at making money online?
I do believe there is a formula for online success and it is NOT a secret!
In this post I am going to share…
I have shared a lot of details about my LONG journey from 2007 to now with my online business.
When I first got started there was many very high ticket courses that seemed to be promoted everywhere and promised to have the secret to making millions online. Butterfly Marketing, Product Launch Formula, Mass Control to just name a few of these blockbuster internet marketing course releases.
On top of these there were thousands of EBooks and smaller courses which made similar promises.
Fast forward 9 years and not a lot has changed in the world of selling high ticket courses online and questionable eBooks. However, I do believe today there are a lot more people sharing free useful actionable information!
My journey to finding what I believe is the formula for online success was not direct. In hindsight even though I never purchased any course/ebook I was guilty of chasing shiny objects and believing people when they talked about how easy strategy (blank) was.
The formula, like most things in life, is a little messier than the often quoted motivational sayings.
These statements although partially true are WAY to simple...
Many of these have some truth but their simplicity is dangerously misleading and induce a mild gag reflux!
The formula for online success as I like to think about it is the following…
This is the way I like to think about my online business.
If I am improving my knowledge and skills using the resources(money/team) I have with the connection I have built up and working my ass off on an important/substantial problem/good idea I will achieve success!
When you thinking through your online business how are you doing at maximizing your rate of achieving success?
Will Carl Succeed?
Meet fictional person Carl… Carl is an experienced corporate manager who is looking to exit his corporate job and pursue an online business to spend more time with his family.
Will Carl achieve his goals? Is he achieving success?
(Knowledge (little relevant knowledge) + Skills (very capable manager) + Resources (has funds to deploy) + Connections (building connections to leverage))
(Work Effort (working everyday on his business))
(Size of Problem/Idea (tackling businesses with a large potential))
Rate of Achieving Success
Based on this assessment he is deploying his captial in a well managed way working on his business everday and tackling a large potential business. I would be confident that his rate of success will result in him achieving his goals of replacing his day job income!
Will Steve Succeed?
Steve works in an office and is very interested in online business. Has been reading and gaining a lot of knowledge. His goal is to quit his day job, travel the world and work from his laptop.
So will Steve succeed?
(Knowledge (very knowledgeable about all facets of internet marketing) + Skills (has not focused the development of any skill to a world class level) + Resources (does not have any capital to deploy) + Connections (friends with others online but no strategic connections))
(Work Effort (does not work consistently, works for a few nights and then takes a weak off))
(Size of Problem/Idea (focusing on “passive income” sites and micro niche sitesl))
Rate of Achieving Success
Based on this I am confident that UNLESS Steve does a few things he will NOT achieve success!
I talk a lot about developing a skill, the only way to do this is with deliberate practise. A great book about the importance of deliberate practise is Talent is Overrated.
Tackling big project with massive effort can be daunting… a great book to get people in the right mindset for this kind of effort is 10X rule by Grant Cardone (his style is not for everyone and took me a bit but I really like the message)
This post was written out of frustration for the massive discrepancy I see out of people who contact me. Some very obviously are setting themselves up to be successful and it is just a matter of time, while other are violating so many parts of this formula that I simply know unless they change they will fail!
Making a business successful online is not complicated but it is HARD!
I encourage you to honestly test where you are at on this formula and identify which blocks you can increase to increase the rate you are achieving success.
You may have noticed that I wrote “rate” of success multiple times in this post. I don’t believe success is a static point in time. Someone who has been wildly successful but is now falling apart (drugs/selling out etc) is no longer a “success” while someone who is achieving success at a rapid rate but is early on their journey is a “success”.
This is paraphrased from Earl Nightengale...
Success is the progressive realization of a worthy goal or ideal.
If you are on the journey to being successful and you based on the formula above you are checking most of the boxes congrats!
If you don't think you are checking enough of the boxes in the formula that it may be time to really consider why you are building an online business and if the
I would be very interested to hear what you guys think of this formula both the good and the bad!
Most of us use this time of year to set goals for the new year and I wanted to use this very small post to share a personal story about my own excuses and self-sabotage!
Be Aware of Excuses and other Self-Limiting Beliefs!
What do I mean? Allow me to share my personal story with you from last year…
I often have some physical fitness goal as part of my annual goals. However over the last two years, as my discretionary time became more limited, I gave myself easy outs:
With these limiting beliefs or excuses I didn’t push as hard as I could have to find a solution.
Given my schedule I am not beating myself up too much for not finding a solution sooner.
Priorities – Wife, 2 kids/family, day job and online business…
Have you ever had a really good internal debate about what activities you should be doing to push your business forward and what you shouldn’t?
For a long time I had the focus that everyday I worked on my business I had to do “something” that pushed my business forward.
Although this was good to make sure I was working on something new and moving the business forward it wasn’t always the most efficient use of my time.
Today I take a deep dive into the activities I do as part of running my online business and
If you are like me and have very few hrs to devote to your business then like me we must be ruthless about only working on activities that are effective at growing our business.Continue reading
I don’t know about you but I would imagine that most people reading this post and working on building an online business are balancing 100 different things and struggling to find so called “balance”.
Keeping it all “balanced” is probably not a realistic goal (at least I haven’t found it). Family, Online Business, Day Job and the 1,000 other things that demand some amount of attention in a day is beyond what can reasonably be accomplished.Continue reading
In this post I go against some of often shared wisdom (keep your goals to yourself) and go into the exact knitty gritty details of my online business goals for 2015.
There are 3 distinct parts to my business and for 2015 each gets one top level goal with a set of sub-goals that I can trend over the year and if achieved should result in my main goal being achieved.
This year I am aiming to keep it relatively simple with my one main goal for each of the 3 businesses I hope I can keep my focus clear.Continue reading