Saturday, November 21, 2009

Make Money ONline

The subject line of this email is a classic question, and one Court and I get asked on a daily basis. In fact, I was just reading a friend's article about how much he's making online, and I saw the "how long?" question asked at least a couple of times. If you'd like to skip the rest of this message, here are my short answers to the "How long till I make money online?" question:
Longer than 99% of people are willing to sustain focus.
...and...
Not nearly as long as discouraged newbies think it will take.
Yes, those are vague answers. Let's put it in perspective with a couple of specific examples:
In the last few weeks I've had some great conversations with former one-on-one students of ours. Both of them started effectively at zero online income. One of them is now plugging away at about $1500 per month (we started working with him about five months ago), and the other made over $10,000 last month (he enrolled in late January).
I just couldn't be happier for these two hard-working guys, and couldn't be more proud of the fact that we were part of their success. When I asked them about what it took to get where they are today, their answers were similar, and went something like this:
"Well, the truth is I was up and down for the first couple of months - in my motivation, effort, and results. It's just not that easy to focus when you have a job, and you're trying to have a life, and then you're trying to build a business online at the same time. I just had to keep plugging away at it. I'd put in 20 minutes here and an hour there, and after a while I started to see some results."
Can You Get Excited About $10 Per Month Online? I Hope So.
What did they mean by "some results?" A dollar here, two dollars there - heck, in the early days they were ecstatic if they made $10 one month and doubled it to $20 the next month. After all, that's a 100% increase. I loved what one of the students - Steve - said about his longer term goals:
"People have to realize that making an income on the internet is a marathon, not a sprint. If you get into this game thinking you're going to go from zero to thousands per month in a couple months you're just going to get frustrated and quit. My plan is to increase my income by about 5% per month for the next three years. That will get me to my goals."
Let's work through the math for a second. Let's say you bust your tail for 12 months and achieve an income of $1,000 in the 12th month (although Steve did that in his fourth month). Now let's say you're able to increase that income by 5% every month after that. Three years later your monthly income would be just over $6,000 per month. If you include the first year, it would have taken you four years to reach an income of about $72,000 per year.

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