95% of those who try to make money online through internet and/or affiliate marketing fail. It is a called the 95/5 rule.
Read that sentence again. And again.
There are various reasons for this high percentage of failure and I may list them in at a later stage, but today I want to focus on one of the main reasons, if not the biggest one.
“The Lack of an Action Plan”
I want to start by quoting a little conversation Alice and the Cheshire Cat had in Alice in Wonderland which I think sums this up:
`Would you tell me, please, which way I ought to go from here?’ Alice asked.
`That depends a good deal on where you want to get to,’ said the Cat.
`I don’t much care where’ said Alice.
`Then it doesn’t matter which way you go,’ said the Cat.
`So long as I get SOMEWHERE,’ Alice added as an explanation.
`Oh, you’re sure to do that,’ said the Cat, `if you only walk long enough.’
The truth is that if and when you do something half-assed without proper planning, it is going to turn out half-assed at best.
Making money online is not as easy as some will make you think, but it is also not as hard as others might say. It could be both and it all depends on one factor;
If you will look at making money online as an adventure and you will not take it seriously as you should take any other business you are starting, than it will be very hard for you to make CONSISTENT, LONG LASTING and LIFE CHANGING income.
On the other hand, If you will take it seriously and make appropriate action plans, set goals and you will look at it as a business you are starting from the ground up than you might have a chance to avoid being among the 95% of those who fail.
Since most people start their online making money quest as a side job or something they do on their spare time it is hard to take it really seriously and make the necessary plans and get into the right mindset.
This is were I hope the following Action Plan will help you out. Actually, this is not something I came up with. I heard and read about it on several places and I know for sure that Frank Kern talked about it as well as Andre Chaperon.
The Action Plan (A.K.A Battle Plan)
This is something you are going to need to do.
Yeah, I know. It sucks. Doing stuff. But that is the first step towards success. Nothing is going to happen while you sit on your ass reading blog posts, eBooks or watching videos.
But hey, don’t feel bad. It also took me quite sometime to figure this one out. I was sure that the more I read and consume the faster I get to where I want to go. Didn’t work because of 2 main reasons:
Reading and learning is great but it won’t get you anywhere. Only taking action and implementing what you read and learn will.
I didn’t really know where I want to go.
Eventually you are going to need to do something. You will need to TAKE ACTION and you will need to know where you want to go.
So start now, this is real easy, super important and hopefully at the end you will find yourself super motivated to start.
“How Much Money Do You Need In Order To Live Life Free?”
Think about it for a minute. or two. or ten. No hurry.
It is a big question that most can’t answer right away. This could (and should) take a little while and that is understandable.
Although many of us keep saying we want something else in life and our dream life is this and that, I found that very few people can actually tell you what their dream life would look like. And I mean in detail.
I urge you to try it out for yourself. Just start asking people you know what is their dream and what do they want from life and see for yourself. Most people are so caught up with living life that they don’t really think about what it is they are actually living for.
So in order to answer this question you first need to sit with yourself and figure out what your dream life would look like. What does living life free means to you.
So go ahead and do it. It’s fun. I’ll wait…
Now grab a piece of paper and draw a line down the middle. The left column is going to be your “living expenses” and the right column is going to be your “lifestyle expenses”.
The key here is to find out the daily income you will need in order to live life free so just right down all your recurring living expenses. Monthly expenses should be divided by 30 and yearly expenses should be divided by 365 to figure out the daily expense.
You should include stuff like:
rent, mortgage, cable, loans, bills (electric, gas, water, internet, telephone, cellphone…), groceries, insurances (car, home, business…)
Do the same thing with your lifestyle expenses. This is where you include all the stuff you WANT. You should include stuff like:
holidays, hobbies, gym… and anything else you are doing because you WANT TO and not because you HAVE TO.
Before You Begin
You shouldn’t write down the current situation you are in. You should write down the situation you want to be in. So if you are looking to move to a bigger place than you should write down the cost of the new place you want to move to.
The purpose is to figure out how much money you are going to need to make on a daily basis in order to make everything in the list become a reality.
Just to help you out a little I will take the plunge and show the table I made a while back when I first encountered this concept
After doing this and filling up both columns just sum each column and combine them together and you get your daily total expense.
This will help you find out 2 things:
How much money you need to make a day in order to live life on your own terms.
You will discover than living life on your own terms, or as I like to call it, living life free, is much cheaper than you might have thought before you broke everything down to daily expenses.
As you can see from my own table, I need to make $141.69 every day in order to get everything I currently want and live life free. I would recommend you add 30% to your daily total and aim for that, so mine is (141.69*1.30)=$184.19.
I want to be making $180 a day. That is my current goal. What is yours?
After figuring out how much money you need to make ever day, you need to come up with a plan on how to go about achieving your daily income goal.
There are more methods than I could ever figure out and share with you all so I would simply tell you about mine.
The method I will be using (more like, the method I am currently using) is niche marketing. I will be creating multiple income streams in the form of affiliate and AdSense sites.
Creating small (or big) web properties that when combined will earn me the goal of $180 a day.
The main thing you need to understand is to stop looking for those $100-200 a day campaigns and start looking for creating multiple small income streams that will add up to $100, $200 or whatever you daily income goal is.
Even if you will be able to get a great campaign going and making $100-200 every single day, what would you do when it suddenly stops?
And guess what, that can happen for dozens of reasons which most of them are totally out of your control. Just ask the marketers that made thousands using Google AdWards before Google decided to ban them all. I imagine that going from 4-5 figures a month to zero one bright morning really sucks.
Even a $5 a day income stream that I will create will help me cover quite a few of the things listed on my Living Expenses list so don’t underestimate small daily income streams.
If I learned something so far with my online endeavors is that I should stop looking for the $100-500 a day campaign and I recommend you stop looking for it too. Focus on building smaller income streams that will combine to your daily goal. It is much easier in my opinion and will get you to your goal much faster and some of these small income streams can easily be scaled to become much bigger and more profitable.
This is why creating multiple Income streams is crucial for your long term success. If one gets shut down, it will only be a small bump in the road as you will have many more still kicking and making you consistent passive income.
So now it is all up to you.
Let me know what is your daily income goal and what methods you will be using and implementing in order to achieve your goal. Just comment below.
Don’t Be A Stranger!
I would love to read your thoughts on what I had to share with you. Feel more than free to comment below and let me and others know what you are thinking. Good or bad, everything is legit. Whether it will be a question, a suggestion, a problem or criticism, I just want to read and know about it.
To your success (and mine ),