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Why 99% of Online Marketers could be on course to fail in 2020
Just like businesses having a high chance of failure within the first few years, Marketers are the same way, and that's because not many of us can stick with one thing long enough to see it through. Running an online business isn't something everyone can do and not many people can do it well enough to create full-time jobs for themselves that make enough money for them to quit their actual jobs.
Every day I go on Facebook to browse through communities and pages where a lot of Marketers gather, some great communities, and some not so great, and they all have the same thing in common. The majority of people are either posting affiliate links like crazy, they're asking for jobs, or they want to know how to make money online. Now, I don't mind helping people out from time to time when they ask legitimate questions, I also don't have a problem calling someone out if they're sharing affiliate links with someone that is asking genuine questions lol. The problem is that people are trying to make money online in so many different ways at once that there isn't enough time to focus on one thing and actually grow it in a way that could be profitable later on.
Short attention spans kill your drive
Like I mentioned above, people are pushing all sorts of things around the internet in hopes of making money, and they don't really invest themselves in one thing to make it great. Sure, you could make a few dollars here and there from affiliate marketing, but you could make hundreds or thousands a day if you started your own thing and grew it to be amazing.
People want instant gratification when it comes to online sales, and they'll tend to stick with the things that make them a dollar here and a dollar there, but they won't stick with something that has huge potential. This could be due to them having a short attention span, not being able to stick with it because they need profits now, or they don't feel that investing their time into something will pay off in the long run.
Profitable from week 1 isn't realistic
We all might make money from the first week, but that doesn't mean we're going to be profitable. Don't believe any of the hype when you see someone post a screenshot about how much is in their account due to a system they've been using. You don't know how much they had to spend to get to those "profits", and it's likely they aren't profiting at all, but they're trying to get you to sign up so they can make a few dollars.
You need to work at what you want to be profitable, tweak it to perfection, and grow it like a child in order to see it become successful later on.
People can't stick with one idea for too long
I mentioned this above, but people don't stick with something long enough to know if it's profitable, and they will abandon their websites or businesses if nothing is happening. News Flash! If your business isn't profiting, something is wrong, and it's likely your approach!
You need to sit down and analyze your competitors to see what they're doing right. You need to leave your ego out of the business and take notes on who is making money, then apply those things to your own business and see what starts to change. I run an SEO agency and have some good clients, but I didn't do this overnight, it took years of hard work and error to get to where I'm at today, and it's all because I stuck with a single thing that eventually pulled in profits after a year of hard work.
Branching out too early will kill your business
I can't stress this enough, branching out to different niches and industries early on could kill your business. The only way this will not hurt you is if you have a large workforce that can handle the additional work that you're creating and make every website profitable over time. Every website you launch will spread you thinner and thinner across your network, making it more difficult to become successful with a single site, and you'll eventually think you're a failure because nothing is working.
Stick with one thing, make it great, then branch out a little and make the second thing great. Never branch out in multiple directions if your first thing hasn't started to be profitable.
In 2020 I hope to see a lot of you profiting from all of your adventures, but I know that isn't going to be the case. The majority of us are going to fail because we can't stick with one thing long enough, I'm guilty of this too, but we need to stay focused and not accept defeat if one thing doesn't go our way
Thanks for reading
- Tommy Carey