How to choose the right money making scheme for you, and make it pay!
Where to start? I have operated as a super affiliate for many years, I also currently own an up and coming search engine optimisation firm. I feel confident that by saying “I have been successful at generating a substantial income using the internet” would not be inaccurate or indeed an exaggeration.
In the course of my travels I have been approached my many would be Internet entrepreneurs, people with loads of enthusiasm, many with great ideas. To date very few have converted these ideas into tangible income streams, and I find my self trying very hard to work out what these perfectly intelligent people are doing wrong. All appear to have stacks of:
- Self motivation (To a point)
- Good ideas
The lack of success leads me to believe that the above is obviously not enough, or is it! Many self help books advocate thinking big and staying motivated which is great, but all they do is help to reinforce what most people start of with anyway. So there is a missing bullet point! A major one.
However the list does make a good foundation, I believe the door to success is far more obvious, and for many the key to this door is not the above list, rather the list is only an entry ticket to gain the key. The magic bullet point is simple, it’s called “The right choice” and for every person a different “right choice” is needed. You cannot start any programme without our list, but using the list and making “the right choice” is the winning formula.
What does “the right choice” mean? “The right choice means selecting the right journey plan to fit your personality, and your destination. For instance:
Imagine, if you are the vehicle, then the above list is the fuel, and wealth is going to be your destination. However without a journey plan you will sit their happily revving your engine, wasting fuel and going nowhere.
Your “right choice” must be the road that will lead you nicely to your destination. If you are the impatient type and want to get their quickly you want the fastest route, even if it involves driving over mountains and risking punctures and breakdowns. If you are a patient person you can choose the scenic route, it will take you longer, you will enjoy the journey and you will still get their in the end. But if the impatient person chooses the scenic route they will get fed up and quit the journey through lack of progress.
Let me paint you a picture you can tell me if it fits.
Joe decides he is fed up with day to day life, he wants all the usual stuff, more money, more time with the family, better car etc so he starts to buy self help books, “The magic of thinking big” “rich dad poor dad” “The one minute millionaire” and many more like them. These build both confidence and motivate. Unlocking these attributes also unlocks the hidden enthusiasm inside and a real desire to crack on and do something, to make a life change. Action = result. He then picks a scheme, Amway, Nutrimetics, Online affiliates, EBay shops and many more but after 1-2 months he has recieved at best, less than one twentieth of his monthly wage, or even worse nothing at all. So to date his input into this new life style has been
- Money spent buying books
- Money spent setting up schemes
- Time spent reading books and setting up campaigns.
- Time, resources spent implementing campaigns
His motivation level, including continuing to read books is
Joe didn’t get a return within 3 months, there are many reasons for this but all humans are prepared to put in hard work for only a finite amount of time. The real question is how much time are you prepared to spend!
What did Joe do wrong? The truth is nothing at all, but his expectation level was indeed wrong, not in financial terms but in the time it takes to get a return upon his investment.
People are very different in their ability to motivate themselves, its not hard work that’s the problem its time to ROI. Return On Investment. Motivational books try to extend this time but they are not magical, it only lasts so long before you start to need proof and crave .
The graph shows 3 different types of people, only you will know which one you are. All have the ability to make money, all however need to modify the method they use to gain this money and match it to their personalities!
Joe: managed to hold out for 4 months, motivation steadily falling, last month dramatic fall after getting to little ROI. The truth is Joe needs to pick a better scheme for him, It must give him an ROI within 3 months. It might not hold the massive cash rewards he was looking for initially but at least his motivation would be maintained and this would give him confidence to try other ideas and his ability to hold on for longer would be greater.
Paul: Paul has very little patience, if he cant find something that will give him a quick return then he loses focus and motivation very quickly. No amount of books will effect Paul, if the return isn’t there then everything is a waste of time, perhaps even a con! Again the answer for Paul is to look for areas that might appease this impatience, this lack of focus isn’t a bad thing, Paul just needs to choose where he puts his time more carefully.
Julie: Julie is highly motivated, a little success is all she needs to plough on, this attitude is great, and in most cases will make pretty much anything work. But there comes a time when she will have to admit failure and change tack, try something else not plod on regardless, and I hope Julie knows when to quit. Again, she is no better or worse than the other two personalities, only different; she can afford to take a longer term projects that need gently building, effectively the scenic route.
In all cases, ROI is not always about making cash, it can be about turnover, or just movement and progress. You must feel like you are climbing a ladder, this feeling is key to your success, feel like you are standing still is only right for Julie, and even she needs to know when things are not progressing.
Let’s put the above analogies into real world context, the following are good examples of short, medium and long term type projects. Remember it’s about working out what personality type you are and tailoring your activity accordingly.
Short Term:EBAY Shop : Buying product from a car boot / garage sale or local free adds during the weekend and selling it for a profit on EBAY in the week.
Low Out Lay
Easy to learn
|Small profit potential
Network Marketing: building up a network of buyers and suppliers, Amway type of multi level marketing system.
|Relatively quick ROI .
Easy to learn
Good future potential
Possible to be truly passive
|lots of negative people,
destroying your enthusiasm.
Real hard Graft to earn
Big money if get it right.
Dont need people skills to achieve.
Can build huge business.
Skills developed very valuable in commercial world if ever required.
Easy to control earning levels Vs time imput.
|Very long term for good return.
Much motivation needed.
Lots of time required.
Big learning curve.
The above text may be a simplistic look at this highly complicated psychology driven world, but it is important to realise that motivation is only half the equation, the remember its only fuel. The method and systems that make up your journey are key to your success.
Be honest with yourself, make sure you manage you own expectations correctly, are you a person that can self motivate over a long period or do you need a fast return.
There is something out there for all of you just keep a measured outlook and you will win in the end.
More importantly make sure you choose a game you know you can win at!
Points taken from a much larger book and simplified for use as a document. If you would like to find out more about the author or achieving the level of success he has enjoyed he is always pleased to answer questions direct so email him at. [email protected]
Other Areas of Interest
Welcome to the launch of global broadband, The ultimate guide to broadband services
around the world.
Free Services !
Learn how to download
Listen to the radio