Thanks for all your information and I hope this will really help new internet marketers to take the rite decision.
punk007, well mate, you did a great post! Just please don't sell us your prooven system of making lot of money.
I found out that successful business is about dominating your area of business. The concept is to capitalize as much as you can. If the market is strong but the customer is weak then your business would be getting stronger. So I would say if you see so many people fail on online biz then it just shows that only few competitor is stronger while the majority is very weak. Money can't buy money but with knowledge you can earn money although without money to begin with.
Stats and polls recently shows that either people make lots (and I mean lots) of money online or make nothing/close to zero.
That was a good question and many internet marketers use it to play the minds of many people. The right question should be how do we define failure in Internet Marketing?
Sorry if it's off topic, but where did you get that figure 97? I was surprise, it looks as people have more luckly with Forex and poker than with marketing.
Most people in the 90s thought that internet marketing will be like marketing machine which could make life of marketer easier but in truth it is not because the power of internet kill itself and now internet marketer got more pain by wasting more times on social marketing websites with the grown ups.
An old saying... The first year, you must look after your business. The second year, the business will look after itself. The third year, the business will look after you! --------------------------------------------- Basically if you haven't got the time or minimum capital, don't expect much short term.
I think you need to have focus within a certain niche and follow through with your actions. Failing and learning from your mistakes happens to most IM, those who understand this and continue after these set backs will succeed.
Most of the time, I believe it's dedication and commitment. People who fail for the first time often give up easily and depressed. If we look the other round, failure is the one that makes us stronger. In fact all successful internet marketers out there all started with failing the first time.
punk007, mate stop posting this "thank you guys" BS, all what are you doing is promote your super-puper system. STOP PLEASE! "I guess many are getting benefited by this topic. Specially new marketers." Oh yeah, new marketers = mostly stupid innocent people first time looking at your site and thinking how easy it is. What a dissapointment will be for them when truth will be discovered.
Lack of focus is an important but often ignored factor that leads to failures. The Internet today is bombarded with money-making offers, with every plan looking better than the other, as a result, alluring hapless net surfers into the "get-rich-quick" bandwagon. They end up enrolling themselves with a number of programmes and being a part of several plans. Sticking to one good plan often does pay dividends. Consistence and persistence do pay off.
Indeed there are many with the right strategy. Dont forget that google and yahoo founders are used to be college kids developed their business from their apartments and now they become billionaires
i agree you put time and energy into a project and its dishartening that it doesnt make money straight away, but give it time and continued enthusiasm you can succeed. you need to know when to cut your losses on projects but that comes with time and experience. anyway if everyone did it then it would make it much harder to gain a share of voice! i read an article and there was a great quote: more time thinking, less time typing!
The main reason people fail too make some money in internet marketing is because they don't have a plan,budget and they are not focused enough.