Avoiding Reasons for Failure When Trying to Make Money Online

There are a ton of ways to make money online: writing, coding, graphic design, selling products, flipping websites, selling products, advertising… if you can think about doing it, chances are, you can do it online!  But if there is such a goldmine there, why do so many people fail at it?  Is there a secret way to learn how to make extra income on the internet, or are we reading too deep into things?

Reason #1 for Failure:

You Don’t Know What to Do!

The ‘I don’t know what to do!’ person is pretty common online and across the world and have some distinctive characteristics: they bounce from online work to online work, they click on the ads showcasing ‘make thousands of dollars a month’ and they never quite settle on any one idea.

Why they Fail:  They can’t settle!  Any internet based business or job, like any job in real life, takes effort and commitment.  If you freelance, you need time to build up a client base.  If you open a store, you the store to be on long enough to get known.  And those so called ‘make thousands of dollars a month doing nothing’ are scams.

Make Extra Income on the internet by: Take a hard look at yourself, your skills, what you like to do and what you have time to do.  Then start carefully choosing what you want to start with.  Remember, in the world of the internet, all roads connect up eventually, so while you may start out with a store, you could also end up easily writing or blogging and definitely marketing.  So, you will get it all eventually, if you keep working at it.

Reason #2 for Failure:

You Want it RIGHT NOW!

Another common reason why people fail to make money online is because they get impatient.  Lured in by the glittering ads, they expect to make hundreds of dollars in their first week and quickly get discouraged and quit when they do not make the expected amount.

Why they Fail: Impatience, pure and simple.

Make Extra Income on the Internet by: Giving it time.  On average, it takes between six months and a year for any business or freelancer to get well known enough to make any appreciable amount of money and it takes longer to make lots of money.  You should also try to broaden your portfolio whenever you can; if you own a business, there is nothing stopping you from blogging and doing affiliate marketing or text link ads and making a little more money.

Reason #3 for Failure:

You Don’t Pay Yourself Enough

This one is more insidious and hits freelancers, especially newcomers.  With so many bidding sites cropping up, most freelancers end up badly undercutting their worth in order to get noticed.  While this may work fine in the beginning, the habit is a hard one to break.

Why they Fail: They may get the work, but they can’t afford to eat, leading them to be forced to quit and find gainful employment outside the home.

Make Extra Income on the Internet by: Never undercutting yourself.  After a few jobs, slowly start raising your rates.  With regulars, do it every six months or a year until you are up to more manageable, liveable fees.  Any good client will understand that you are worth the cost and you need to eat too!  Anyone who complains about your rates probably isn’t worth the time.  By the same token though, remember to stay professional and do good work or you won’t be worth paying for.

Is there a secret way to make extra income online?  Not really; it’s mostly a matter of common sense.  Find something you enjoy doing, stick with it, be patient, don’t undercut yourself and remain professional, honest, and trustworthy.  Any guru worth his salt will say basically the exact same thing.  You can make extra income on the internet, but just like any job, it takes time, commitment, effort, and the ability to treat yourself right.