Realistic Goals For Making Money On The Internet
How much money can you make doing this thing?
How long before I can start making sales?
How much work do I have to put in each day to make this happen?
I don’t have any money and need to pay rent next week. What do I do now?
These are the questions I hear all the time. Sometimes at WA, sometimes on YouTube, sometimes in my inbox. These are good questions to ask. So I want to give you some realistic answers.
Q: How much money can you make doing this thing?
A: Between $0 and millions
It depends on how fast you learn, how good you are, and how long you do it. There are quite a few different profiles for internet entrepreneurs and business people. Here are a few; which one are you?
It’s possible to make it a hobby and tinker away at your sites in the evenings after work. This is a good way to go about it because it means you have no time constraints, no pressure to perform, and you probably enjoy what you are doing. It will show up in your work, and your visitors will notice. Happy visitors = sales. You probably won’t make much from the site in the beginning, but hey, you never know. 5 years of 1 or 2 hours per day is thousands of hours of work into a business, and 1 or 2 thousand dollars extra per month is nothing to scoff at.
Some folks are looking to quit their job and be self employed. If you hate your job, you are probably thinking I WANT THIS NOW. If you dislike your job but can tolerate it, you’re probably in a better place for long term commitment to your “side gig”. Impatience is a business-killer, and you’ll probably end up buying some kit to “supercharge” your website, only to watch it tank 2 weeks later and give up. Don’t do that. The desire for something better and a need for a full time income to support yourself could spell long term commitment, for several hours per day. This could mean $3k to $7k per month if you stick it with.
And still others are obsessed with the idea of making money, see the necessity of a long term commitment, and try everything. You may spend hours upon hours of work. Sometimes the work will give you an ROI of $0. Sometimes you will strike internet gold. Eventually you’ll work out a system that works for you and repeat it over and over again. Do this for 5+ years and you could be making $10,000 dollars or more per month. Seriously. I’ve done it.
Q: How long before I can start making sales?
A: Between 2 weeks and 6 months
When you are starting out, don’t expect to make much, especially if you have no prior skills. That’s just what happens to most people. I would not expect a full time income until you have at least a year under your belt. Some get it quicker, but they usually have backgrounds in some kind of marketing, business, or related career.
For me it took exactly 3 months before I saw my first sale. It took me 6 months to start seeing frequent sales. It took me 1.5 years to start making enough where I thought I could quit my job, and 2 years to actually quit and call myself a full time internet based business owner.
Two years, not two weeks or two months.
As I mentioned above, some do it quicker. I know a guy who replaced his income in 6 months, and doubled it again in the next six months. I know a girl who quit her job after 3 months. One other guy from WA said that he made $350,000 over 3 years, and another that replaced his $100,000 per year income after a year learning PPC. These are awesome stories.
At the same time I know another guy who’s been doing this for about 4 years now and hasn’t made a dime (ok, he’s made a tiny bit). And yet another who’s been at it for a year and just broke the $1,000 per month wall. I feel pretty dumb that I took three months to make 1 sale, when I read a blog from someone that did it in a week.
So yeah, it’s all over the map. My favorite quote of all time is, The only people who fail are those that quit. If you stick to it, you will carve your own path and make a sale eventually. Learn from your mistakes, and repeat what you did right. It’s that simple. Unfortunately most people will quit after two or 3 months. Don’t be one of those guys.
Q: How much work do I have to put in each day to make this happen?
A: 1 – 2 hours per day for good results, 3-5 hours per day for excellent results
Along the same lines, a lot of folks want to know how much time they need to commit each day to guarantee success.
It really depends on what you do with your time. Train for 30 minutes and write a blog post for your website for 30 minutes each day is a pretty good schedule. I think it’ll be pretty hard to NOT make money from a blog with 300 posts. That’s 1 year of consistent work in a good niche. But take that same hour and try to make your own graphics with photoshop because you want a really cool looking logo, and you will not enjoy the same results.
I waste A LOT of time. More than you can imagine. I’m surprised I get anything done at all. But I do this for several hours per day. It’s just my style. I can drift between 8 different activities for 5 hours, and though I don’t finish everything and feel like I wasted a bunch of time, at least I’m in front of the computer doing something. And hey, I’m making money, so I can’t complain.
Other’s like to focus, focus, focus and need only two hours to do the same work I do in 5. Great. That works for them. Find what works for you.
And to give you a straightforward answer, I think 2 hours per day, 5 days a week, for 1 year is a good commitment to make. If you haven’t made sales after 1 year of doing this, I will personally buy whatever it is you are selling.
Q: I don’t have any money and need to pay rent next week.What do I do now?
A: Be responsible. Don’t try to make money on the internet
An internet business venture is not for you. There are two choices you have. One, you can commit to a real business, which has no guarantee and may take several months or years to create a sustainable income that can support you and a family. Or you can try a get-rich-quick scheme. They will guarantee results and tell you it’s easy. You will give them $19.95, $47, $97, $197, $297 or even thousands of dollars for a “proven system” or “done for you business”. It will not work and you will quit, with less money than when you started.
Invest in a new pair of clothes for job interviews. Make sure you have enough gas to get there. Read about how to negotiate a good wage. Pay your rent on time, and eat 3 meals a day. Feed your kids. Once you get on your feet, then consider investing some money into online business training.
Online business is not a fix-all to get you out of a tight financial situation. It’s an opportunity to improve your situation with education and hard work.
I hate to end things on a negative note like that, so let me just say one more thing. I’m glad you’re asking these questions. It means you are interested, and want to know what you are getting yourself into. Get the facts before you commit time and money. You can create a free account at the online business training center where I learned how to make money on the internet. I’m still a member, and can help you make the right choices.
Please leave your comments below. Want to see a question added to this list? Ask it below and I’ll be happy to answer it as honestly as possible.