You’re Being Lied to: 5 Myths You’ve Been Told About Making Money Online
When it comes to making money online, you’re being lied to! Why? Because there is more short-term money in lies than there is in truth.
So, how do you know what is myth and what is truth?
Here are 5 of the most common myths about making money online and how you can avoid them:
Myth #1: You Have to Have the Perfect Idea to Get Started
Perhaps the biggest myth holding people back from pursuing their dreams and building a consistent stream of online income is thinking they have to have the perfect idea.
That somewhere there is a veritable pot of gold just waiting for them to stumble upon it and make them rich.
The problem? It’s a pleasing fable.
Thinking that you need to have the best idea, the perfect plan, will always keep you doing nothing and never reaching your goals.
“In any moment of decision, the best thing you can do is the right thing. The worst thing you can do is nothing.”
― Theodore Roosevelt
Marketers pray on this myth by selling you a product, course or e-Book designed to “make you rich” and give you the life you’ve always dreamed of.
The problem? You buy it and it falls horribly short of the promise.
Why? Because there is no perfect idea. There is no perfect method of generating income online. It doesn’t exist.
Granted some ways are better than others but even bad ideas can make a lot of money. I’m not saying forget the research and just go with the first thing that comes into your mind. I’m saying drop the pot of gold idea and start something geared towards the long-term instead of the short-term.
Many times online businesses fail because they were expecting instant rewards, an overnight success and when that doesn’t happen, they simply give up.
Which leads us to Myth #2:
Myth #2: Making Money Online is Easy Work
If it were easy, everyone would be doing it. It may sound nice to only work 4 hours a week and make passive income while you sleep, but the reality you don’t see and often are not told is that it takes hundreds of hours of work to get there.
Some paths to success are shorter. Some are longer but all require hard work and unflinching dedication.
You want to make money online? You have to put in the work.
Are there tips and tricks and strategies to help you work more efficiently? Absolutely! But it all boils down to how hard you want it and how much you’re willing to work for it.
Also, you have to be willing to change your thinking. Some markets and ideas simply will not make you money no matter how much time you put into it.
There may be 100K – 1M people searching for “How to Make French Toast” each month but that doesn’t mean you can start a blog or niche site about french toast and be profitable.
Read the market, do the research and then give it all you have!
Myth #3: I Must Reinvent the Wheel to Make Money
This myth states that you have to be worlds above your competition to make any sales or drive any traffic to your website or product.
The truth? It’s a myth!
You have to differentiate yourself from your competition and put your own style and spin on it but you don’t have to be the next Albert Einstein to be a success.
Being better than your competition gives you the edge however do not fall into the trap of thinking you have to invent the next light bulb to be successful.
Remember, it is far easier to outsmart and out-market your competition than it is to outdo them.
Myth #4: There’s Too Much Competition
At this point in time the internet is so gigantic that there will be competition for every single idea you can ever imagine.
To that I say, so what?
Trying to compete with Wikipedia would be foolhardy but the truth is, if there is competition in a particular space or market, you can enter that space and create a profitable business.
It may take more time and require much more work than a smaller niche would but the rewards and potential are exponentially higher.
Competition should be a gauge to determine how difficult it will be to make entry into the market. It defines your marketing and traffic-building strategy.
Can you compete with Amazon or Google? No!
Why would you want to? Why compete with the big players when you can use them to your advantage?
You can make thousands selling products on Amazon or partnering with them as an Affiliate. Likewise you can make thousands ranking your website on Google for a hot keyword.
Use them to your advantage. Don’t try and outdo them!
Finally when it comes to competition, any niche or market where there is no competition at all there is usually a reason. Competition tells you without a doubt that it is profitable!
Myth #5: It’s All a Scam and Not Worth My Time
Perhaps you’ve been burnt by a get-rich-quick scheme and now you see every piece of information online as a scam. The truth is there are millions of scams out there but there are literally millions of legitimate ways to make real sustainable income online too.
Be sceptical, ask questions, do your research and learn as much as you can. There is a wealth of great information out there if you can fight your way past the crap.
And that is why I started this blog: to help you fight past the bogus crap out there to see what it actually takes to make money online.
I won’t promise you riches or that it will be easy. If you’re looking for a get-rich quick scheme then you’ve landed at the wrong blog.
But if you’re looking for the cold hard honest truth about generating a sustainable income online, you may want to stick around.
Perhaps you’ve read down to here and thought, what now?
Take action on something. If you have no clue how to even get started then stay tuned as I have a lot of content coming soon.
It’s up to you now!
Our goal is to find multiple income streams, and the more passive the better.