Thursday, August 21, 2008

How to Fail In An OnLine Marketing Business

You have read the stories of tremendous successes and insane income people have earned in a few short days on the internet. The reality is a few people do generate very good incomes on the internet marketing products.

The truth is most people fail in this business. The steps to failure are easy. That is the bad news. The good news is that in knowing how to fail will give you direction and guidance in knowing then, what you must do to succeed.

Failure in 7 easy steps:

1. No experience. Internet marketing is a profession and just as any other profession, it is learned through experience and education. Think about your medical Doctor, the election who wired your home, the professor at the local university, all of these are professionals who have been educated in their vocation. Successful marketing on the internet is learned through observation, classes or by a mentor who has a proven system.

2. No testing or research. Is there a screaming demand for your product or service? Successful marketers are continually testing through multiple articles and ads to see if there is a hungry crowd looking for your product. Will your product or service market best through direct advertising or through articles in ezines or by videos on youtube? Have you tested various methods to find the starving crowd?

3. Lack of funds to start a home-based business. Do you have the funds and resources available to see you through to success? A sure fire way to failure is to cut off your primary source of income and leave your job without adequate reserve of funds available to you.

4. No System. Marketing on the internet requires following and using a proven marketing system. Successful marketers use a formula, a system that is tried and proven to achieve success. Without a proven system, failure is certain.

5. No Leadership or personal coach. Just as Michael Phelps had a coach that guided him to win 8 gold medals, Success in marketing requires a personal mentor who is committed to your success. This is very important, not just for you, but as you help those who will follow in your footsteps. You must have a coach/mentor who has walked the path before you. Those following you will ask, ‘how do I succeed?”

6. No detailed plan of action leads to failure. You must be held accountable to your coach and follow a specific daily plan of action. Imagine this. You have the funds and now want to have someone build you dream home. You hire a builder. You have the dream home pictured in your mind. However, without detailed drawings, plans, the builder cannot produce what is in your mind. Your business will succeed when you follow a daily action plan.

7. Not learning the skills along the way. Attending seminars and workshops of successful people and learning the skills of marketing is critical to your success. Can you write an article that will be published and read? Can you produce a video that thousands will watch on youtube? Can you write a creative ad that will draw a swarm of people to your website to purchase your product or service?

Failure is not an option. You will not fail when you find a Mentor who seriously has your best interest at heart. A mentor who will provide coaching and resources without selling you items which will benefit him/her financially. A good mentor will teach you the skills you need for success in an online business.

Walter Seward offers a FREE copy of the legendary MLM recruiting & training ebook , where he regularly analyzes & comments on MLM lead generation.

1 comment:

Gary McElwain said...

Walter thanks for bringing this to the forefront. Who would of realized there are so many ways to fail.

But on the other side I know I can get "Success in 10 Steps". Thanks for the warning. Make sure you let the others know about this.

Gary McElwain