Let’s cut to the chase – making money online is like navigating a maze blindfolded while juggling flaming torches. It’s not impossible, but it can be a real challenge.
I’d rather not start discussing the internet business gurus who make it seem like a piece of cake. The truth is, it’s not; If it was easy, 100% of their students would be making money online.
In fact, 95% of online business owners don’t make a dime. Yep, you read that right.
So, if you’re among the lucky 5% that is grinding it online, congratulations, I dove my hat – you’re officially a unicorn.
But let’s face it, making money online requires having some crucial mindsets.
And if you feel it is time to step up your game and develop those crucial mindsets that will take your internet business to the desired level. Follow me in this blog post as I will spill the beans and show you the five essential mindsets you need to make money online.
Remember, this will not magically take you to the promised land of financial freedom (as I am no magician). Still, changing your present mindset and taking action will help in no time.
Trust me, these same mindsets have kept me ahead of the curve with my internet business. While this may not be a one-size-fits-all approach, trust me, having these mindsets will make you a star if applied to any online business you’ve got your eye on.
The Right Mindset To Make Money Online With An Internet Business.
Are you stuck in a hamster wheel, constantly spinning but getting nowhere to make money online? Well, it’s time to break free from the cycle of traffic woes and excuse-making and adopt the right mindset to finally start raking in cash.
Changing your mindset can be the key to unlocking your potential as an internet entrepreneur.
I present my list of the right mindsets to put you on top of your money-making online game with an internet business.
From the power of positive thinking to embracing failure as a necessary stepping stone to success, I’ve got you covered. So sit back, grab coffee (or energy drink, if that’s your style), and get ready to kick some online business butt.
Treat your internet business as a business.
When you start out, it’s easy to get caught up in the idea that internet money is just floating around waiting for you to scoop it up (don’t blame yourself, I also had the same feeling when I started my journey to make money online).
But here’s the thing: earning real money online takes time and requires you to work hard on your business.
This means treating your internet business like a real business and not like a side hustle you do in between watching Netflix on your sofa.
Don’t be deceived by the fake Gurus online saying the opposite; they are usually after your money and will always leave you broke than before you met them.
You must have heard the story of Jack – you know, the one who was a jack of all trades but a master at none.
The same can happen to your internet business if you don’t take it seriously. It’s easy to jump from one idea to another without really seeing any success.
But if you want to be successful, you’ve got to put in the time and effort to make it happen. You need to stay with a business model for which you had taken the time to create a business plan.
You may fail many times; just be sure those failures will build your confidence for the following success.
Here’s the deal: if you want to see real success with your internet business, you’ve got to treat it like a business. That means working, building a network, branding yourself, and advertising your business. And, of course, praying for it doesn’t hurt to have some divine intervention.
But seriously, treating your internet business like a business is the key to unlocking its potential. You’ll see exponential growth in leads, sales, and ideas when you take it seriously.
Oh, and one more thing: check out the embedded YouTube video from alux.com to see the 15 things you need to learn about running an internet business. Trust me, it’s worth it and might even give you a chuckle.
Create and follow a business plan religiously.
A business plan is a paper that outlines the goals and objectives of a business. It also provides information on the business’s financial health, marketing strategy, and product development.
A business plan is a roadmap for success that can help business owners avoid common pitfalls and mistakes.
A business plan is a shield to protect your business from crumbling in the first year (75% of small business falls in their first year). You have to set up an effective business plan that would act like a constitution that governs your business.
The first step in creating a business plan is identifying your goals and objectives.
The next step is to create financial projections for at least one year into the future. Then you will need to create a marketing strategy to attract customers and generate revenue.
After this, you will need to identify your competitors’ strengths and weaknesses.
Finally, you will need to establish where your company falls on the competitive landscape before setting out any specific plans for product development or expansion.”
What to do – Build a business plan that can guide your internet business to success. You can build a comprehensive one with many sections or create a detailed one with other business plans like marketing plans, selling plans etc.
Also, watch the embedded youtube video “How to Write a Business Plan – Entrepreneurship 101”
Internet business should not be a one man business.
Internet business is a complicated thing to run, and many different areas need good management to flourish.
Your internet business should not be a one-person business. You need to know that in Internet Business, you should learn to outsource at places like fiverr.com.
It would be best if you didn’t try to work everything out yourself. For example, setting up your sales website would be more profitable to outsource to a professional that knows the in and out of website development and make your sales website look professional than trying to do it yourself.
It would be best if you had the right people with the right skills for any given area and needed them to work together as a team.
As a business owner, your work should be strictly management and marketing. It is always wise to outsource little business tasks. Outsourcing can save time and money and has often led to better quality work.
What to do –
Check your business and see what you should outsource. Go to http://www.fiverr.com for the world’s cheapest freelancers. Watch the video below to learn how to outsource on freelancer’s marketplace like Fiverr and Upwork.
Obey the 20% rule.
For any business, online or offline, to succeed, such business is to be fed with a business idea and running costs. Their cost is attached to trade, and you need to understand this.
Another major mistake business owners make is not compounding part of their business profit. Most internet business owners see their business like an atm. Still, they fail to understand that even using an ATM, you need to deposit cash into your card or bank account before you get paid.
You will succeed online as a business owner if you continue investing or reserving a reasonable percentage of your profit.
You will be able to see real, sustainable results online as a business owner by continuing to invest or reserve a reasonable percentage of your profit. You may invest in advertising, design services or have a website built. There are many ways you can invest in your business and you should consult with an expert for guidance on the best options for you.
The reserved cash is good insurance for your business to survive.
A business should always have a cash reserve. This is often called a “rainy day fund.” It’s money that can be used to pay bills or expenses if the business doesn’t make enough money to cover them, or if there’s a big expense like losing a key employee.
What to do
Get an accounting book or software, and use it to monitor your business. Appropriate a fair share back to the business to cater for marketing, outsourcing and other business running kinds of stuff; the Percentage you share for your business depends on you and how successful you want your business to be.
Create a relationship with your leads and customers.
It’s important to create a relationship with your leads and customers. This can be done by creating content that is relevant to them.
On Facebook recently, you will notice lots of people spamming pages and groups with their referral links. This is a very wrong way to market your internet business. I bet you may never make money with your business doing this.
And if you ever make any money, it isn’t worth the amount of work you will do daily to keep up with making money.
The more you know about your audience, the more you can tailor your content to them. This will increase their engagement with your brand, which in turn will lead to increased sales.
Building relationship with your leads and customers will let them trust and buy from you all the time. Your business will also enjoy steady referred and returned customers.
What to do –
Start building a relationship by having a Facebook fan page, twitter business profile and refer your customers and prospects to the page or profile.
An advanced and not free way is to collect their email address and bulk mail through an autoresponder.
You should watch this video “Business Networking: How to Build Professional Relationships“
Your Turn
With these five changes in your mindset about running an internet business, you will begin to see more sales and make money quickly. Making money online is not complicated, nor is what the Gurus made it be. Follow these mindset tips, and you will see fundamental changes in your business.
What other mindsets do you think should be added to this list? Please comment below and let others know about it.
Also, please share this article with your Facebook, Twitter and Whatsapp Friends. You may help somebody achieve financial stress freedom.
Changing your mindset about running business is a must if you want to really make some money online. If you don’t change your mindset, you may be frustrated with your online business. Awesome article. Thanks for sharing
I found these very useful, thank you for sharing this mindset with the Internet world. I have been marketing online for 5 years but had a little success until last year when I started to spend more on my online business.
I was able to increase my monthly income 755%
Wonderful and helpful.