10 Reasons Why People Fail to Make Money Online
You’ve found an amazing business opportunity, and you are so excited to get started.
In your mind, you said this could be IT!
This could be my ticket to get out of my miserable job and live a life of freedom.
You started to mingle around and chat with people who had the same epiphany as you when you were sold to the business opportunity.
This is Great!
They say, to be successful you have to surround yourself with like-minded people.
Your ego is up! Your self-esteem is up! You are all set to rock and roll! … You could really feel that success is within your grasp, and NOTHING could make you give up on this opportunity.
You were so excited that you went home and told your friends and family about the amazing business opportunity you’ve found.
You would have expected that they are as excited as you, but…
All you’ve got were an unenthusiastic look on their faces, and you said to yourself, “Just wait till I become successful! Till then, you will beg me to show you into the business”.
Weeks or Months down the road, you have implemented all the things that the program (the business opportunity) taught…
Why haven’t I gotten any success?
Other people have gotten at least a commission or a sale, buy why not me? Am I stupid? Is there something wrong with what I did?
I’ve poured my heart and soul into this, but what I’ve got a big fat zero in my bank account.
… Alright ….
Does this sound like something you have been through?
If you have… What did you do after that? (Leave a comment at the end of this page)
… Now …
Don’t be surprised that only 20% of the people who tried starting an online business will experience what I’ve described above…
Wait! Shouldn’t it be everyone who has ever tried a business opportunity? What about the remaining 80% of the people?
The truth is, 80% of the people who’ve ever purchased a make money online product, didn’t even get started, and that’s the sad fact.
Luckily for you, landing on this page would mean that you are a part of the 20%.
And, you are still looking for answers to justify your failures.
As a person who’ve been on both sides (at the brink of failure and having actual success), I have gone back in time to recall my past failures and have identified the reasons that held people back from their success.
If you are a person who is serious about your future, this could be the bridge to your success…
Reason #1: The Fear of Failure Overpowers True Potential
“I’ve tried once, but I’ve failed… Nah! It won’t work the next time. I quit!”
So you’ve encountered failures…
You’ve poured your heart and soul into this business opportunity, and have done everything you could, but you still failed…
You are emotionally drained and you have lack of financial resources to keep you going… The bills kept piling, and life took the best of you…
At this point… It is where your success or failure is decided.
People who Fail takes the easy way out by saying “I can’t do this further, I QUIT!” – I was one of them.
But, successful people (even when they didn’t know that they will become successful) say, “let’s keep going till we hit the jackpot”. – It’s only years later that I became this person.
It’s scary. Honestly.
Having to keep walking the path that led you to failure the first time (the second time, and so on), and you don’t even know if the end is near.
Most people (the majority) will take the easy way out, because it’s easy, it’s common sense, it’s the human nature.
My personal story…
I didn’t achieve success the first time, or the second time, or the third…
Honestly, I’ve lost count on the number of failures I’ve encountered in my life.
I’ve tried Online trading, Multi-Level Marketing (MLM), Affiliate Marketing, basically I’ve tried almost every make money online opportunities.
For some opportunities I’ve made a little money, but overall, I’ve lost.
I didn’t condition my mind to be successful, I didn’t tell myself that I need to “keep trying” on that one business opportunity. But, I naively took the leap whenever there’s a reasonable opportunity.
I was one that kept jumping from one opportunity after another.
Trusting gurus after gurus, spending thousands after thousands.
It is only when I snap myself out of this spiral that eventually got me to success.
It is when I decided that this one opportunity that I am in, I must succeed!
Failures after failures on the same business opportunity lead me to my eventual success.
If I were to quit after one failed attempt, and I didn’t pursue on the same opportunity, and instead jump to yet another opportunity, I would have NEVER found success.
Learn More about my Success. Chat with me on Facebook Messenger
Reason #2: Limiting Believe in Yourself
“You brain is like a circuit switch, once you believe you are something, you actually embody it.” ~ Jaret Grossman”
“I am not good enough”
“I’m not smarter than anyone else”
“I’m not good at speaking”
“I’m not good at writing”
“I’m sure I can’t be better than that person”
These are the sentences that we made ourselves believe.
I often get asked this question, “I can’t write well, can I still be successful online”?
“Are you able to face a camera to do videos then?”, I replied.
“I’m too shy, I don’t think that is possible”, that’s normally the reply I got.
What do you think? Can that person be successful?
You see, when I started this website, there were already so many other successful review sites, and trying to compete with them was really an uphill battle.
And, the longest article that I wrote before I started this website was 300 words, and I failed in the Cambridge English exams.
Do you think that I am qualified to write any articles?
Looking back, I didn’t think I was a tiny bit qualified, but eventually I did it, with practice every single day for the past 3 years. Writing a thousand word article is now my norm.
If you want to make money online, you need at least some form of personal exposure, be it through words (like an article), or videos, and if you can’t do both, you won’t succeed.
If you su*ked at something, practice it everyday till you su*k less, and the more you practice, the more you su*k less so much that you actually become good.
Start believing in yourself that you can achieve better, you just need more time to practice every day.
There’s an old saying “practice makes perfect”, and it still makes perfect sense today.
Reason #3: Lack of Determination – Go BIG or Go Home
What exactly do you want to achieve with your online business?
There must be an inner spark that ignites your motivation to do something.
As human beings, if we are left alone without any goals or dreams, we will be lazy and useless.
I believe you have something you want to achieve when you are starting out your online business. It could be financial freedom, it could be for charity or it could be anything.
But, what I want you to think about is, what kind of persona you want to be online. In other words, what do you want others to perceive you as? An expert in your niche or just another person trying to make money online?
For example, the reason I started Barenakedscam.com was because I wanted it to be one of the most trust worthy review site about online business opportunities, and by doing so, it will help guide people to legitimate business opportunities (I have been scammed many times, and that’s why I want to protect others).
This is the fundamental reason for me to strive for excellence whenever I write a review. Someone else might write a review without actually trying the product, but I chose to experience the product before writing any review, which is why my reviews are super in-depth, and therefore it creates trust.
So, think about it, what is your source of motivation to get you started with your online business?
People fail to make money online because they didn’t find the source of motivation (the purpose) for starting their online business, and that’s why they gave up eventually.
Reason #4: Afraid of Other People’s Opinion
“The only way to avoid pissing people off is to do nothing important” ~ Oliver Emberton
As you know, I run this “Scam Review Site”.
And, because of the nature of this business, people sometimes get angry when they see their business opportunity being called out as a “Scam”.
Some people hate to believe that their decision is wrong.
Of course, everyone is entitled to their opinions, and my opinion is not stronger than the next person.
With that, people curse and swear on my reviews almost every day.
I received hate mails from people all over the world (yet there are more people who thanked me for my honesty), and to be honest, I was deeply affected at first.
I thought I was doing a good service by exposing business opportunities that are not worthy, and directing people to legitimate opportunities that I and many others have success with.
The problem with this is that people see it as my way of discrediting other businesses, and promoting my own.
However, people don’t see that I am a few steps ahead of them because I have tried so many opportunities and I know which are the ones that are genuine and which ones are not.
True enough, the “opportunities” which I discredited, closes down or are being shut down by the government within a year or two.
Good examples are Fanbox, Empower Network, Digital Altitude and The Four Percent Group.
People were singing praises for them, and called me a liar, a cheater, etc.
As a human being, it is inevitable that we feel emotionally distraught, because the belief that you are doing a good service to the public is being questioned.
However, like the video above mentioned, as you build your empire, there will be enemies who will try to belittle you and force you out of business. There’s really 2 options:
[OPTION 1] To surrender because you just can’t take the emotional stress
[OPTION 2] To fight back, by fighting your own emotion
I chose option 2….
I gave up having arguments with negative people who are just not worthy of my time, and I divert that attention to people who really needs and wants my help.
Over the years, I’ve helped hundreds of people find success online, and they are the reason I am in this business, and they are the reason I became successful.
My advice is, don’t be afraid of what others think of you. As long as you have a powerful purpose behind your online business, and you can justify your actions, there is no reason to feel upset because of someone else’s negative comments. Divert that attention to people who wants and needs your help.
Reason #5: Lack of Discipline
“There are 2 kinds of people, (1) I am going to wait till I feel like it before I do it, and (2) I gotta do it till I feel like it” ~ John C. Maxwell
This is a tough one, and probably one of the hardest!
If you have this in control, it will be the key to your success.
I don’t say it because many others say it, I say it because I live it every single day.
I would say that Self-Discipline is one of the most difficult hurdles in your online business.
Because when no one is watching, you get to do what you want to do.
“Oh! My favorite TV series is showing, I’ll start work after watching this”
“What? There’s another episode after this? I gotta know what happens in the next episode”
“I’m so tired today, I don’t think I can work”
“I haven’t finished my game, give me 10 minutes and I’ll start work”
These are just some of the excuses I gave myself when I didn’t feel like working.
I’m sure you have excuses that stop you from doing meaningful things, and I invite you to share your “Excuses” at the comments section below.
My True Story
Honestly, the toughest challenge as an online entrepreneur is self-discipline.
Because no one else is watching you, except for yourself.
If you don’t work on your online business, it’s no one else’s fault but yourself.
Even today, I struggle with Self-Discipline.
You see, I earn passive income online which means that I’ll still earn a decent income every month even if I don’t work at all.
The problem is, I use this benefit as an excuse for me to laze around at home.
Some days I don’t feel like working, so I didn’t, and this is destroying my life and my business passively.
It’s really a tough nut to crack because you have to identify the things that distracts you, and you have to exterminate them so that you can concentrate on your work.
For me, watching TV series is a killer to my productivity, because it sucks my attention so much that I’ll probably end up watching TV the entire day.
So, my solution is a little extreme. I created two user profiles on my computer, and I block all websites that streams TV series on the profile I use for work.
The password to the other profile is controlled by my wife, and only a certain time of the day I am allowed to get the password from her. Lol!
And, I force myself to pay my wife a hundred dollars if I didn’t work for a day.
If you have a solution to help with Self-discipline, I’d love to hear it. Please share it with me in the comments section below.
Here’s an interesting video I found about Procrastination:
Reason #6: Consistency
“We are what we repeatedly do. Excellence, then, is not an act, but a habit.” ~ Aristotle
You’ve started your online business, and you’ve worked on it for a few days.
Then, when life gets tough, you stopped working on your business, and days after days, months after months, you are only dreaming about building your online business without actually doing it.
Building your online business needs to be a habit. It has to be a part of your life that you can’t give up on (if you want to be successful).
If you want to build a successful online business, you have to be consistent, you have to work on it every single day, and it has to be in your mind during your waking hours.
When I first started my online business, I was still working in my miserable job, and I didn’t have the luxury of time to work on my online business.
So, I did something extreme which is to wake up 2 hours early before going to work, and I use that time to work on my business.
Week by week, it became a habit (a routine) for me to wake up early in the morning (even during weekends) to work on my business.
And, even when I was working, I kept thinking about how to grow my business. It is sort of an addiction, but in a good way.
You see, many people who started their online business didn’t build their online business as a part of their life.
Most of the time, people are just “trying out”, and as we know, it usually don’t work out.
My suggestion is to first identify your source of motivation (your purpose for creating your online business), then you have to follow a step-by-step training course that will guide you to work on your business every single day.
It is through consistency that will eventually lead you to success (but of course you have to follow and get support and guidance from the right people).
Still don’t know where to start? Need Guidance? Chat with me
Reason #7: Stick to what is working
This is a common problem I see in many entrepreneurs.
They start their online business, and they achieve small success.
And then, when success gets into their head, they started to diverge to other ventures.
Leaving the business that got them to their initial success.
Success is not a sprint, but a marathon.
If you find something that works, you have to stick with it and keep working at it. You can’t leave it to start another venture.
I have a friend who once told me that rich people have many businesses, and so he went out to “build” many businesses, yet none of them made him any money.
I also have a friend who have a successful business and he was thriving, earning hundreds of thousands of dollars in his first year, but because of his success, he ventures out to do many other things, and forgot what got him to be successful in the first place. Now, he failed miserably.
One misconception that many entrepreneurs have is that rich didn’t become rich by starting many businesses, they start by building one successful business that eventually allows them to expand.
And, when you find some success with what you have been doing, stick with it, and make sure that it grows! Successful people don’t give up on their successful business unless they have an opportunity to sell it at a super high price.
So, if you ever find small success with what you are doing, keep working on it.
Reason #8: Fail to find your passion
“You will not find that passion in things, and you will not find that passion in money, because the more things and the more money you have, the more you will just look around and use that as a metric, and there will always be someone with more” ~ Randy Pausch
It’s all about the money, it’s all about financial freedom!
If you have that mindset for your online business, you will most likely fail.
Every business in this world serves a purpose, whether it is to solve a problem or to provide an innovative solution. There is not one successful business that focuses only on financial gains (other than a Ponzi scheme).
Have you heard of the term, “follow your passion and the money will follow”?
That is the exact attitude that you need for your online business.
Focus on how you can serve the people you want to serve, and not focus on how much money you can make from them.
Because, when people see that you are genuine and sincere, they wouldn’t mind giving their money to you as long as you can help them achieve what they want.
So my take is not to focus on the financial gain of your business, but to focus on providing value to the people you want to serve.
Wanna talk business with me? Chat with me on Facebook Messenger
Reason #9: Lack of Support and Guidance
Now, you noticed most of the reasons behind a person’s failure are mostly personal.
I want to get into the secondary reason people fail to make money online.
You see, most of the online opportunities I’ve found are either a scam or they don’t lead you anywhere.
Most of them just give you the surface information and leave you to find the missing pieces.
Without proper support and guidance, 99% of the time people will fail.
Unfortunately, for most online opportunities, they are more interested to take money from you than to provide you with any value.
And, that is what makes me furious. Furious enough to create this website to discredit those unscrupulous programs.
So, if you want to find out what programs are legitimate, you can check out this list of legitimate programs, and if you want my opinion on the best online business that provides the best support and guidance, I would suggest that you check out Wealthy Affiliate.
Reason #10: Unable to Accept Constructive Feedback
I’ve worked with so many aspiring entrepreneurs over the years, and I realized one common factor that stops some entrepreneurs from progressing.
That factor is Egoism.
You started out by learning from others and you implemented the stuff that people taught.
You keep learning and learning and you think that you are an expert in the field, but you just didn’t make any money.
And then you seek for help, asking people to give you valuable feedback.
When people started questioning the very strategies that you’ve implemented, you started to be defensive.
You are so full of yourself that you believe that everyone else knows lesser than you (even when others are earning a lot more money than you) and you think that you’ve done the right thing.
So, why ask for feedback in the first place, right?
Believe me, this is a true experience that I’ve encountered when I was coaching somebody who is full of himself, and what happened to that person? He failed.
Listening to others, in my opinion, is one of the most important characteristic an entrepreneur must have, because that is the way that you can learn and grow.
Never take criticism personally, when people criticizes you, ask for the reason(s) and learn from it.
I know it is not easy to admit that you “Su*k”, but you have to learn from those mistakes to “Su*k” lesser. Lol!
My final word…
“Entrepreneurs are the ones who are willing to jump down the hill, and build a plane on the way down”
You see, the reason people fail in their online business is the same reason people fail in losing weight.
Most of the time (given that the business opportunity is legit), it is not about the opportunity that determines your success, it is the mindset that sets people apart.
Most people that I know of, buys into business opportunities after opportunities without taking any action (I was one of them).
They think that the “next” business opportunity could be their way out.
Someone once told me a story that the road to success is a million miles away, and people’s subconscious mind dreams about being at the end of the road, that’s why it’s called a dream.
To reach that dream, it all started with the first step, and most people got on to the first step.
But, just like you are trying to swim across the uncharted waters without knowing where the end is, most people swim back to the shores.
The dream is obviously still there, and they tell themselves that “someday” I’ll reach there….. “When I get enough knowledge and resources”.
This sends people down the spiral road of chasing opportunities after opportunities.
Because the fear of drowning is too great that people don’t stick to what they set out to achieve. Subconsciously, they are afraid that once they drown (fail), the dream of becoming successful drowns with them.
My sincere advice to you, from an entrepreneur to another, is to find a legitimate business opportunity, and stick with it (work on it consistently) till you find success.
Honestly, I am not a professional motivator like Tony Robbins or Gary Vaynerchuk, but I hope this article can inspire you to achieve what you were meant to achieve in your life.
I hope you enjoyed this article like I’ve enjoyed writing it.
I hope this can help you with your journey to your online success.
If you need guidance from someone who have walked a thousand miles in your shoes, you can chat with me on Facebook Messenger.
I would appreciate so much if you help to share this article by clicking on the social media buttons.
And, if you wish to discuss on this topic, you can leave a comment below.
Thank you so much and all the best for your online business.