Making Money Online – Using a Systems Approach
Wilson Mattos first got involved with an Internet marketing business in 1994. It was a web hosting company that sold pages on the Internet, which he did for about 1 1/2 years mainly as a hobby. At the time was also in corporate IT, eventually managing a worldwide network for a Fortune 500 company. After burning out on this, he became a pre-sales engineer for a large software company, which allowed him to get a “taste” of working from home, and a desire to work only for himself. Today, he and his partner have created a $1 million dollar enterprise together in the last two years.
When first starting as an Internet marketer, he went without success for over 2 years. This is a common experience for many people trying to earn money on the Internet. Most people involved in Internet marketing are doing so to have a better lifestyle, achieve financial freedom, and realize their dreams
In a recent detailed survey sent to his coaching clients, only 78% were able to complete the information requested. He believes that this is indicative of the fact that many simply don’t follow through with actions needed to reach their goals. Of those responding, over 90% of his clients are over 40, with 67% having been involved at least a year online. On average, his clients watch 3 webinars per week, look at 6.5 offers per day and spend .6 hours per day in forums. In addition, 60% have a full time job and 33% are in debt and getting worse, with many absolutely desperate financially.
The biggest challenges of his clients were mentioned in the responses were:
- Lack of Focus – Typically characterized by shiny object syndrome, flavor of the week/month, giving up too easily, and/or information overload.
- Lack of Knowledge – Technology challenges, difficulty finding niches, and seeking perfection before actually getting started.
- Fear of Failure – Am I doing something wrong? Most unwilling to take necessary actions to push past theri comfort zone daily.
- Hate Selling – Don’t want to be pushy, especially products that you know nothing about.
Their clients had spent an average of $2633 on Internet marketing products over the last year. This is not unusual, since in his first two years, Wil himself spent well over $10,000. Among his clients, many spouses are fed up with hearing about the new program just bought.
The main reason people fail is that most are focused on making money online when they should be focused on building a business. When focused on a business, 99% of Internet marketing offers won’t be making sense or be distracting from the main goal. There is no “easy button.” What are the steps to creating a successful business?
- Set goals that are clear, achievable, and measurable. As an example you may want to earn $1,000 online in July. For some, who are not yet earning anything, this may not be achievable.
- Create a time-based, realistic, practical and measurable plan to achieve your goals. Then break this down into daily goals, e.g., $250 per week = $50 per day (average). As an example, Wil suggests writing 10 articles (Day 1 – $50), selling some stuff on Ebay and learn how to submit articles to directories (Day 2 – $75), write to more articles and submit to directories (Day 3 – $60), write 12 articles (Day 4 – $60), and build a website (Day 5 – $200) and rest on Day 6 ($0). Note that these are just examples, which would be different for every individual.
- Review and evaluate your plan. Is it realistic? Does it enable you to achieve your goal? Is it time based? Can you measure the results of your plan?
- Measure results based on the goals you set in step 2.
- Adjust and improve your plan (never adjust the goal). Do I have to work 6 days to make the goal? How else can I adjust the plan based, not on the method, but achieving the goal.
- Document your goals by month for the next quarter, accounting for growth each month. Create daily work plans, recording daily results and improve your plan as needed.
- Focus on growth, by outsourcing systematized parts of your business and repeat entire process to create new systems to grow your business. As an example, if using outsourced articles, begin by proofing and fixing up yourself. Eventually hire more writers and even an editor to proofread and fine-tune outsourced articles.
- Always develop and document systems used to reach your goals. Examples, if writing articles as a basis, would be:
- Getting faster at writing by using PLR articles as raw material instead of doing the research on your own and writing from scratch.
- Document and bookmark sources of information for which to research.
- Create a standard ad to advertise your services so that you can just copy and paste instead of re-typing every post.
Each individual will need to determine their own goals, plans, and devise systems according to their particular business needs. A 6 month coaching/accountability program is available for those who need assistance in the process.