There are so many great opportunities for people to make money online in Australia, in fact there are thousands of people who make very good incomes from working online. So why is it that not everyone who enters the online marketing industry has success?

People who have tried and failed in this industry will blame something like:

-The product – “no one wanted it”, “it wasn’t good enough”, “it would have been better if only blah blah blah…”

-The company – “the compensation plan wasn’t good enough”, “there was no support from the company”

-The market or the economy – “people don’t have money to spend anymore”

-The customers & leads – “They were just the wrong customers”, “bunch of tire kickers”

…Basically they blamed anything other than what might have been part of the problem all along…..themselves.

The five main reasons people don’t make money online are as follows:

1.Targets – The person hasn’t targeted the correct audience for their product. The online world is a huge place and just because the person was getting high traffic to their site, or were talking to lots of people doesn’t mean that they were getting to the RIGHT people. In this case, it doesn’t matter how hard the person works because if you aren’t putting your product in front of people who want it, then you won’t make any decent money.

To be successful, a marketer needs to find out the people who specifically want what they have, and target their message to them. The better the target, the more likely it is that the customer will engage with the business.

2.Focus – Some people focus on the wrong aspects of their business. For example, they spend the majority of their time stuffing around with research, training, posting to the Facebook page, team meetings and other admin type tasks. These elements can be an important part of building their business, however actions will not generate them any money.

To be successful, a marketer need to concentrate 80% of their focus on income producing activities like taking to prospects, and 20% of their time focusing on those admin type tasks

3.Effort – Some business owners do not put the right amount of effort into their business. They either invest too little time, or they invest time inconsistently – eg: lots of effort one week then nothing for a month or so.

To be successful, a marketer needs to dedicate a consistent effort to their business, even if it is only an hour a day – they should be scheduling time on a regular basis to keep their business growing smoothly.

4.Investment (both financial and time commitment) – Some business owners invest too much money into their business on advertising and other bits and pieces without realising how much money they are making in return. For this a successful marketer should keep track of expenditure in a budget and ensure that any dollars spent are being spent effectively.

In terms of time commitment, many marketers give in way too early. In fat most give up within the first year of their business, never realising that the first year is the hardest year to get through and is generally a year where you see little return. To be successful, you need to make a commitment for the long haul, 2 years, 5 years, 10 years – it won’t take as long as 10 years to see a result, but you must commit to realise financial success.

5.Being in the RIGHT business – Some businesses are run more like a job where you have to keep selling product month after month to keep your income going. To be financially free, the kind of business that is the most successful in the long run is one that produces residual income. This is where you do work once and get paid month after month, year after year. So when starting up a business, ensure that the company produces a product that you can whole heartedly support and that the compensation plan of that company will provide you with residual income over the life of your business.

So, to sum up, to be a successful online entrepreneur you need to:

-Target your market

-Perform consistent and focused effort

-Keep a budget and schedule

-Commit to your business for a minimum of 2 years

-Generate residual income

Do you have what it takes to succeed?

Kira-marie is an entrepreneur helping people create wealth. Click Here for more information on how she can help you earn residual income.

Kira-marie is an entrepreneur helping people create wealth. Click here: http://klaverty.tkr.me/residual for more information on how she can help you earn residual income.

Author Bio: Kira-marie is an entrepreneur helping people create wealth. Click Here for more information on how she can help you earn residual income.

Category: Business
Keywords: residual income, making money online