by Frederick Mann
(Excerpt from WealthBooster Magazine -- Issue #14 & 15 -- March 10-14, 2001)
If you're not making enough money on the Internet to live comfortably, chances are you're making serious mistakes. Overcome these mistakes and you can make as much money as you like! Your "education" may have programmed you to do certain things wrong and to fail. You may need to reprogram yourself to do things right so you can succeed.
MISTAKE #1: YOU FAIL TO LEARN CERTAIN BASICS ON HOW TO DO THINGS RIGHT.
Many people can become much more successful by simply learning
to do some basic things right. If you don't do these basic things right,
you're unlikely to achieve success. I highly recommend the e-book
Real 'Secrets' of Success! which addresses, why certain basic actions
don't work very well, better than any other book I know of. Over the
years, I've often been asked, "Where do I start?"; "How do I learn to
market on the Internet?" Finally I have the answer: Real 'Secrets' of
Success! See Success Arsenal!(sm) [service defunct; instead see Report #TL10E: The Power of Doing Things Right.]
MISTAKE #2: YOU BLAME OTHERS OR FACTORS OUTSIDE YOURSELF FOR YOUR FAILURES.
One of the most important things to observe is what you tend to
habitually think and do when an action of yours didn't work the way
you hoped or didn't produce the result you expected. If you blame
others or factors outside yourself, your personal power and
effectiveness drop dramatically. You have control over your
actions; you can change and improve them. In general, you
don't have control over others and most outside factors; you
can't change or improve them. Instead of blaming others or
outside factors, you can observe what you did and how well
it worked or failed. You can learn from it and improve future
actions. See How to Achieve and Increase Personal Power
MISTAKE #3: YOU FAIL TO OVERCOME PSYCHOLOGICAL FACTORS THAT PREVENT SUCCESS.
It's almost as if some people are programmed or have
programmed themselves to fail. From a Delphi forum:
In '94 I joined several programs and they are all gone.
In '95 I joined several programs and they are all gone.
in '96 I joined several programs and they are all gone.
In '97 I joined several programs and they are all gone.
In '98 I joined several programs and they are all gone.
In '99 I joined several programs and they are all gone.
In '00 I joined several programs and they are all gone except one.
In '01 I joined several programs and they are all gone.
All are gone and so is my money and any hope of ever getting it back.
Because of psychological factors, some people make the same mistakes over and over again. See Failure Scripts and Where The Rocks Are
MISTAKE #4: YOU DON'T CONSTANTLY WORK AT IMPROVING THE EFFECTIVENESS OF YOUR ACTIONS.
You can observe every intended money-making action you
take, get a measure or sense of how effective each action
is, learn from the results each action produces, and use
what you learn to improve future actions. For more on
self-observation, see Report #12
MISTAKE #5: YOU SELECT INFERIOR OR MEDIOCRE MONEY-PROMISING PROGRAMS.
The "poor victim" quoted in Mistake #3 made mistakes in
the programs he selected. It also seems that he hasn't
learned from his mistakes and hasn't developed a
methodology for selecting the right programs. You also
need a methodology for dealing with the inevitability of
your selections failing, no matter how good your
selection methods.
MISTAKE #6: YOU RISK MORE MONEY THAN YOU CAN AFFORD TO LOSE.
Whenever you put money into a money-promising program,
there's a possibility that you will lose it all. You need to be
prepared for the worst... both emotionally and financially. If
you have little capital to risk, you should start with programs
you can join free. You can use free programs and ones with
entry costs of $100 or less to build up your capital. As your
capital grows, you spread your risk. Personally, I don't like
to risk more than 10% of my capital in any particular program.
Ideally you want to operate such that a total loss in any
particular program has little impact on your overall success.
See Money Skill #24: Risk and Money Management
MISTAKE #7: YOU PUT ALL YOUR EGGS IN ONE (OR A FEW) BASKETS; YOU DON'T CREATE ENOUGH INCOME STREAMS.
Some time ago, a contact wrote me:
"My family and I have been through three network-marketing businesses in the past 10 years, and we watched with wonder as they all three grew and with horror as they all three crumbled to dust. My final analysis on our experience with network marketing is that we just didn't know enough of the right kind of people. Do we now? Beats me. My family is really skeptical now about anything remotely MLM."The reality of this world is that businesses and programs fail. It's vital to create multiple income streams. See Money Skill #10A: Generate Multiple Income Streams
MISTAKE #8: YOU DON'T PRACTICE DISCIPLINE.
Some people sometimes realize what they need to do, but don't
do it. They may also realize that they shouldn't do certain things,
but they still go ahead and do them. For many people, overcoming
the mistakes that kill their money-making efforts is a long and hard
road. You need to start somewhere. You may have considerable
learning to do. You may have to UNLEARN some wrong ideas and
bad habits -- see Millionaire Report #1
You may need to set some time aside every week (every day is
even better!) and devote that time to learning more about money
and improving your money skills. See also Money Skill #27: Improve Your Discipline
MISTAKE #9: YOU DON'T LEARN HOW TO MARKET.
You can actually make a great deal of money without marketing.
You can risk your capital in the stock market (and other markets,
such as commodities, currencies, and futures), or in programs
that don't require you to sponsor people or sell products.
However, you make much more money if you learn to market.
If you can market, you can make money without risking your
own capital. The ability to market is probably the single most
important money-making skill. See Money Skill #40: Marketing
MISTAKE #10: YOU DON'T TEST OR MEASURE YOUR MARKETING EFFORTS.
Many marketing mistakes are made by aspiring marketers.
The most important is probably that they don't test or measure
their various marketing efforts. They don't know how successful
one headline is compared to another. Every Internet marketer
needs to use a program such as ROIbot to measure the responses to their marketing efforts.
MISTAKE #11: YOU DON'T CONSTANTLY IMPROVE YOUR WEBSITE.
See:
MISTAKE #12: YOU DON'T ACQUIRE THE TOOLS YOU NEED FOR SUCCESS OR LEARN TO USE THEM.
A personal computer can be a powerful money-making tool... if you
know how to use it. Email is the Internet's most popular application.
It's also one of the most powerful marketing tools. You can use a
"signature" at the end of your emails as a marketing device. You
can use email to sell products for which you earn commissions.
You can use email to promote other money-making programs. You
can learn to use BB7M to build a downline/community to market to.
You can learn to write "power messages" that get higher responses.
You can set up a website and take various actions to attract visitors.
You can utilize both free and paid advertising to market your products/
programs and/or to attract visitors to your website. You can learn to
use FFA pages, classified ads, autoresponders, opt-in email lists,
newsletters, etc. as tools to become more successful.
MISTAKE #13: YOU DON'T CREATE AND IMPROVE YOUR AUTOMATIC MONEY MACHINES.
See Liberty Money Machines.
Now have a look at the Private Page.
Visitors come to this page every day. They check out one or more
of the programs. If they like what they see (and they can overcome
certain obstacles), then they join one or more of the programs and
I earn some money. More and
more people join, with practically no work on my part. My
monthly earnings just keep on growing.
MISTAKE #14: YOU FAIL TO DEVELOP GENERAL MONEY-MAKING SKILLS.
Most people learn little about making money from their parents and
teachers (who themselves often have few money-making skills). It's
almost as if "the system" is designed so most people will have to
get jobs where they perform a narrow range of tasks and get a
paycheck every week. Often the pay is just enough to survive on.
Many workers accumulate credit-card and other debts, have to pay
more and more in interest, and keeping their "financial head" above
water becomes a problem. It's almost as if "the system" is designed
so many will remain trapped in jobs they don't particularly like for
their entire working life. You may be able to learn some important
general money-making skills at: Basic Money Skills
MISTAKE #15: YOU INDULGE IN TIME-WASTING OR DESTRUCTIVE ACTIVITIES.
An acquaintance wrote me: "Among the most useful information
I found on your websites Build Freedom, BigBooster, etc., perhaps the
most practical are those which relate to personal creative power,
and happiness. This information alone is life changing, however,
I think there's one important insight on this theme which you still
haven't addressed: The connection between creative personal power
and income streams. I believe a fundamental cornerstone of financial
success is EXPRESSING YOUR POWER IN A WAY THAT PUTS
MONEY IN YOUR POCKET. This might sound obvious now, but it
was just a few months ago when I realized the trap I was stuck in.
I used to spend my afternoons at a chess club, and would feel powerful for beating everyone's ass and being the best chess player in the club. This was a creative expression of power, which had many countless beneficial side effects like increased mental power, developed strategic thinking and so on. However, it never put a penny in my pocket. Just the opposite was true! I had to pay for my experience of power. I would experience power in a negative cash flow way.
I also knew both men and women who would buy expensive clothing to feel powerful among those with less expensive clothes. All of them would express power in a negative cash flow way. I believe it's imperative for anyone wishing to cross the success divide line to begin to express their power in financially wise ways. Ways that create positive cash flow. Examples of that are authors who experience power when they see their books ranking high, website authors who experience power when a number of people visit their sites, musicians who experience power when many people come to see their concerts, and so on. All these people have something in common: The more powerful they feel, the more money comes into their pockets. On the other hand, if you express your power in a negative cash flow way, the more powerful you feel the less money you'll have.
MISTAKE #16: YOU ALLOW PARASITES TO SIPHON OFF YOUR WEALTH.
There are four basic ways your wealth can be siphoned off:
MISTAKE #17: YOU FAIL TO CONTINUOUSLY IMPROVE YOUR MIND AND THINKING SKILLS.
My Webster's defines "intelligence" as: "the ability to learn or
understand or to deal with new or trying situations; the skilled
use of reason; the ability to apply knowledge to manipulate one's
environment or to think abstractly." It defines "intelligence test"
as "a test designed to determine the relative mental capacity of
a person." Intelligence could also be simply defined as "the ability
to solve problems." A more powerful definition: "Intelligence is the
ability to produce desirable results."
See How to Increase Your Intelligence and Thinking Skills, Creativity & Problem Solving
MISTAKE #18: YOU FAIL TO PROGRAM YOURSELF TO DO THINGS RIGHT AND SUCCEED.
Probably, more than 90% of people who attempt to make money
on the Internet behave as if they are programmed to do all kinds
of simple things wrong so they can't succeed. Example: An email
that says, "Please put me on your list." It doesn't say what list.
Or, "I tried to upgrade, but it didn't work. Please help me." What
program? What did he do? What happened? Given the contents
of his email, how could I possibly help him?
Even if your emails are much better than the above examples, if you've been trying for some time to make money on the Internet, and you haven't succeeded, chances are that you are programmed (or have programmed yourself) to fail. If this is you, you may need to confront the possibility that you have a mountain to climb. I suggest you start with Failure Scripts and Where The Rocks Are
MISTAKE #19: YOU FAIL TO MOVE YOUR "WIN/LOSE SWITCH" INTO "WIN TERRITORY."
"The fault, dear Brutus, is not in our stars, But in ourselves that we are underlings." - William Shakespeare
See How to Improve Your Information
MISTAKE #20: YOU FAIL TO IMPROVE YOUR HEALTH AND FITNESS.
Death effectively kills your money-making efforts. If you're ill in bed,
it's difficult to make money (unless you have some great automatic
money machines!) The healthier and fitter you are and the longer
you live, the more money you can make. See #TL09 - How to Achieve SuperHealth and Health Freedom & Life Extension
MISTAKE #21: YOU IMPROVE YOURSELF AND YOUR ACTIONS TO THE POINT THAT YOU SURPASS THOSE AROUND YOU AND THEN YOU STOP BECAUSE YOU FEEL SUPERIOR.
Suppose your "win/lose switch" for making money is
in position "4." Among your family, friends, coworkers, and other
contacts, nobody has their "win/lose switch" above "3." You're
a "half-eyed king" in the land of the blind!
MISTAKE #22: YOU DON'T FOLLOW THROUGH.
Most people have a mountain to climb before they can succeed
at making money on the Internet. And having achieved some
success, there's more mountain to climb in order to become highly
successful. Overcoming the mistakes I've pointed out (and the many
others I haven't mentioned here), is a long-term endeavor. Do yourself
a favor and keep climbing!
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