Fact: Out of 100 new independent small businesses starting on the high street, over 90% will fail in the first 2 years. Another 5-6% will fold within the next year. (UK statistics).
Why did I write that? Because the IM business is not unique in it’s failure rate.
There’s too much talk in the internet marketing industry about failure.
I believe this is a strong contributory factor, as it’s telling aspirational new entrepeneurs that they really don’t have a cat in hell’s chance, right from the start. Some people will consume this information, and give up before they even get going. If we continue to dwell on the negatives, newcomers will be perpetually bombarded with self replicating defeatist messages.
You must ignore the negativity, keep self motivated as you learn and progress and take pride in your achievements, however small.
2. INFORMATION OVERLOAD
The most common answer, but is it grammatically accurate. We’re in the Marketing business, and so my slant on this expression is HARD SELL OVERLOAD. Yes, we’ve all been victims of this, and you can’t blame people for suffering with it. But they’re not getting any information at all. They (we) can spend countless hours reading the sales pages; watching the videos etc., but it ain’t no good unless we buy the goodies.
There aren’t any local ‘schools’ to attend, and normal vocational advisors shrug IM off as a waste of time. But they have 9-5 jobs, and little imagination. How can they possibly advise on something which is totally alien to them?
You have to find out for yourself, from scratch:
- What is Internet Marketing?
- How do you start?
- What do you need?
- Where do you start?
- Who can you trust?
Unfortunately, many newcomers keep buying product after product, in the desperate hope that they contain the easy answers.
But there are two excellent free resources for this information - IM blogs and IM forums, such as the Warrior Forum.
Start by searching on Google for the questions you need answered. There are many excellent blogs who have the answers and solutions you’re looking for. Then try in the forums. By keeping your questions specific, such as, “Where can I find articles to post on my site?’, you will find experienced Warriors are only too happy to advise. It really depends on you taking notice of the repeating tips, and using them.
The vast majority of newcomers to IM are going it totally alone. They have no one to use as a sounding board, or to make a plan and split tasks with. They have to be totally self motivated and driven. Even worse if their partner and friends are opposed to the idea, it can add incredible negative pressure, and can even lead to people buckling under the negativity.
My advice is to make an effort to contact others in the IM business.
Find some blogs in your niche, READ THE POSTS, leave comments, make friends, and keep in touch.
If you have the right advice, starting out in IM needn’t be expensive, but there are a few basics you’ll need, such as:
- a. A domain name
- b. Web hosting
- c. An autoresponder (own product or affiliate) for list building
- d. Maybe some good PLR, again for list building
Beyond these basics, it need not be that expensive.We all know that buying stuff which will often not even get read, let alone tried, can be financially crippling. Yet another reason for giving up.
5. FALSE HOPE and UNREALISTIC EXPECTATIONS
This industry has a remarkable talent for expounding wondrous tales of untold wealth, in little time, with little or no work.
When newcomers start discovering that they need to target one thing, make a little money, then repeat or refine the same, and that it”ll take some time, persistence and effort, they can quickly become disillusioned, and give up.
They need to be guided towards earning their first $10.00, just to prove that there is an income to be made, starting with maybe only a little.
The positive impact of your first sale is quite amazing.
Lack of focussing on one thing is a common cause of failure. If they don’t give enough time to one method or niche before jumping to another, the likelihood of earning anything gradually dissipates. This becomes an ever self defeating exercise.
Find one thing and stick with it.
SO – How can you avoid the pitfalls that cause failure at Internet Marketing?
If there are any newcomers reading this:
- Don’t Give Up
- Be Realistic
- Review what’s holding you up
- Don’t be too self critical
- Be patient
- Be prepared to learn
- Be prepared to work
- Ask questions ( Google or Forums)
- Clear your email inbox – COMPLETELY
- Open and digest any SINGLE product you may already have (after all, you thought it was good at the time) until you understand it
- Apply yourself.
- Start with the product/course that you’ve selected, and take each stage step by step.
- Stick with it, refining it if necessary, until it starts to work for you.
Alternatively find a good membership site or a reputable coaching course, and follow the instructions – to the letter. Research carefully before you sign up though.
I really hope this helps someone, somewhere to realise that they’re not alone, and that the mistakes they may have made so far, have been the same mistakes we made.We are still here. You owe it to yourself to be here in the future, writing helpful posts for the next newcomers, who will be just as confused as you are now.
It’s a steep learning curve for all newcomers, with many new things to understand. I know most of the theory, but I also know it takes time and effort to put it all in place.As long as I’ve got my eyesight, and a broadband connection, I’ll be here for as long as it takes.
I don’t intend to fail, and you shouldn’t either. Just realise that the ‘overnight wealth’ is spelt Bul**hit! Treat it as such, and keep a realistic view to how you are going to succeed.
Here’s a copy of Desiderata for you to download. When you’re feeling the pressure, read it again.