X

The 10 Myths Of Making Money Online

4

the 10 myths of making money online

I want to share with you the 10 common myths that people have about making money online.

I have been involved in the online business world for 9 years now. I own several online businesses, and I’ve made millions of dollars online.

I have seen the good and bad side of the Internet marketing world, and I want to share with you the truth about online business, from an insider’s perspective.

People have limiting beliefs, based on what has happened to them.

Maybe they saw or heard something, or they had one bad experience that ends up shaping their entire perspective about the online business world.

You cannot generalize everything, based on one thing you see or hear.

Watch the video below:

(Click here to watch on YouTube)

subscribe-with-itunes-button

Want to learn how to build your own online business? CLICK HERE to get my free course on 7 online business models that have made me an internet millionaire!

Here are the top 10 myths of making money online:

#1 – You cant make money online.

Some people believe that people, like myself and others, are liars, and that we aren’t really making money online.

They don’t believe its possible.  The reality is that, YES, you can make money online. Thousands of people are living the independent Internet lifestyle.

You can make money in many different industries.  I believe it, because I see it constantly, and I’ve done it.

I have helped thousands of people make money online.

#2 – You can get rich quick online.

Some people believe that you can get rich quick, or are sold or marketed to believe this is true.

Building an online business takes time, dedication, and hard work.

The hours and sacrifices that I have put in, in order to get to where I am today, did not happen overnight.

In some cases, you may see me make money in a short period of time, but you don’t see the behind the scenes work that I have done in order to achieve that success.

There is the rare exception when you hear a story about someone who got rich quick, but you don’t know their back story.

These people already have an online background; they have business knowledge and experience, so that when an opportunity comes along, they have the potential to achieve success more quickly.

Similarly, these people may have a mindset and habits in place that help to fuel their success.

#3 – Everything online is a scam.

This is one of the biggest myths out there. People are so afraid to buy a product or a course because they are fearful that it’s a scam.

Most things online aren’t scams.  There are legitimate products and courses out there that can provide tremendous value.

The reality is that you can’t get scammed online. Most products that you purchase online have a refund policy, and that’s always what you should feel most comfortable about.

For example, if you were to buy something from me, and I don’t respond to you, you could always go to ClickBank, put in your order #, and that service will file a refund.

You are protected.

#4 – You can just build a website, or launch a product and then you will be successful.

That is the easiest part of getting started online, but its only the first part.

The real effort is marketing your brand, getting traffic, building followers, promoting, etc.  That is where the real work begins.

For example, people that get into publishing think that if they simply publish their book on Amazon, the money will come. This is so far from the truth.

#5 – People that are teaching online are all liars.

The reality is that some of this is true and some of it is not. I am very candid and honest about my life and my work. I pride myself on integrity.

I share my goals and how well I am doing, but there are a lot of people that don’t believe its real.

However, there are people that lie online.  A lot of companies will use celebrities in order to endorse their brand, as part of their advertising campaigns.

For example, McDonalds will hire Michael Jordan to endorse their product, because the image will appeal to consumers, despite the fact that the food is unhealthy for you.

#6 – You can push a button and make money online.

Again, this is BS. Like I said, it takes hard work, commitment and sacrifice to build a successful online business.

#7 – You can make money online without spending much time doing it.

At the beginning stages of building an online business, there is a massive learning curve, so it takes time to build it up.

Its like having a baby. As time goes on, your business wont be as dependent on you for its needs and survival.

Could you only spend a couple hours/week on building your business? Sure, but it will take longer to build.

#8 – You can make money online without spending any money.

If you do not invest money into your online business, 99% of the time you wont be successful.

You will need to eventually set up a corporation, hire a lawyer, buy software, purchase a domain name, do advertising, invest in product development, hire a team, etc.

You need to spend money to make money, and you need to feed your business, just like you need to feed a baby.

#9 – You can make 100% passive income online.

You can make passive income online, but you don’t make it forever, because the Internet is always changing and evolving.

Currently, I have six-figures of passive income, and I could make that for a few years, but eventually it's going to die.

Why? Because every business requires that you keep an eye on it, and adapt, one way or the other.

I don’t believe that you can make 100% passive income, not unless there is a rare exception where you publish a book and you end up becoming a best-selling author.

#10 – You can live the 4-hour work week.

You can live this way for a specific period of time, but the reality is that nobody is living this lifestyle forever.

People like Tim Ferris, who wrote The 4-Hour Workweek is someone who works extremely hard – probably over 60 hours/week, but he loves what he does, so it doesn’t feel like work.

Could Tim Ferris work 4 hours/week? Yes, but it’s a misconception that you can live that way forever.

You need to wake up every day and be inspired to continue creating.  Ignite your passion.  Find and live your calling.

Nelson Mandela once said, “It always seems impossible, until its done”.  Believe in yourself, work hard, and design the life you have always dreamed of.

Video transcript

What's up, guys? Stefan here from ProjectLifeMastery.com, and in this video I'm going to share with you the 10 common myths that people have about making money online.  I'm going to share with you the truth, and the reality of the situation.  I'm going to hopefully dispel each of these myths and the common misconceptions that people have about building an online business and making money online.

I've been involved in the online business world for 9 years now, and I've been in a lot of different markets and industries. I own several online businesses. I've done a lot of different things. I've made millions of dollars online, and I know a lot of Internet marketers.  Some of them are experts, and I've interviewed tons of people. I've been to the seminars, the traffic and conversion summits, conferences, and a lot of different events, courses, etc.

I've seen the good side and the bad side.  I have met amazing people that Ive been involved  with online, and I've also seen the dark and the shady side as well, the scammer side of the Internet marketing world.  I want to share the insider's perspective with you. 

As an insider, hopefully I can share some information with you, that you might not know yourself, information that is not typically marketed to you.  A lot of people have myths that are based on limiting beliefs.  A lot of people have limiting beliefs about what's possible, or based on an incident that happened to them once.

Maybe they were once scammed or ripped off and something happened, or they saw or heard something, and then they create a limiting belief about that experience.  You cannot generalize everything, based on one incidence that has happened to you.  If you do, that is going to hold you back and limit you. I'm going to share with you the truth and the reality of the situation, things that you might not want to hear. Let's jump into it.

10 Common Myths in Making Money Online

1. You can't make money online.

There are a lot of people out there that believe that.  They just believe that nobody is making money online, but it's not true. They believe that, people like myself and others, are all liars and that we make things up, and that we're not really making money online and that it's all fake.  They don't believe it's possible, and if it hasn't been proven time and time again, by thousands and thousands of people.  Thankfully, I think people are starting to get and realize that making money online is real.

You guys follow me and consistently watch my videos. You know the truth of the situation, so I don't need to tell you, but a lot of people out there don't believe it's real. They just believe that making money online is this airy-fairy fantasy world that's not true and that you've got to get a job instead.  The older generation, for the most part, believes that.  They think, “What are you doing online? That's not a real job.  You can't make money online”.

They don't believe it's a real thing. They don't believe that you can make money as a blogger or on YouTube. They just think, “Do you actually make money blogging? Do you actually make money on YouTube? Is that a real career?” They don't realize that some of these people on YouTube are making 6 or 7 figures.  I know many of them. The reality is, yes, you can make money online.

Thousands and thousands of people are living the independent location lifestyle, the Internet lifestyle. You can make money in many different industries – Amazon, blogging, affiliate marketing, digital products, mobile apps, etc.  There are so many different opportunities, and you guys know that, but that's a common myth that people have. The reality is all around us. Look online.

There are testimonials, success stories, role models. You go to these seminars. There are thousands and thousands of people at these seminars. You go to masterminds, and you are meeting people that are doing amazing things. I have the belief because I see it constantly.  I've done it, and I have helped thousands of people make money online, but I can understand that for some people, they still don't believe it. That's a common myth. The reality is, that yes, you can make money online.

2. You can get rich quick online.

This is not true. I'll say, 99.9% is not true.  Some people believe this, or that is what they are sold or marketed to believe. That is the misconception a lot of people have. The truth is that building an online business takes time.  It takes a lot of hard work. The hours, sacrifices and days that I have put into my business to learn what I know now, the failures, etc.  Everything that I went through did not happen quickly.

In some cases, you might see me make a lot of money in a very quick period of time, but you are not seeing what I've built, the brand, the hard work, the courses, the training, everything that has led me to this moment. If I launch a product and I do very well, it's not because one moment, but the thousands and thousands of hours in private that happened beforehand. That's true for a professional athlete or anyone that's successful.  It doesn't happen quickly for anybody.

It requires a lot of hard work and sacrifice. It's not easy. Now, the reason I put 99.9%, is because there's like the .1% of people out there that are a very rare exception.  You see a story of a  person that got rich quick and who made a lot of money in a short period of time.  For example, I have people that have been through my courses that have made money fast, and you could say  that they got rich quick, but when I really look at it, there's a lot of factors that go into it.

One is, you don't know what the person was doing beforehand. For example, I've seen some people that have got into the publishing or Amazon business, and that have made a lot of money very quickly, but the reality is, when I have interviewed these people and I get to know them, they already have an online background.

They have already done all the courses or training, or have had other businesses, experience, and knowledge that they've developed, that when a certain opportunity comes along, it's the right fit for them, and they blow up. Something like that can happen, but you are not seeing everything that came before that, or maybe the person already has the right mindset, the right mentality.

For example, my brother got into publishing, did very well, very quickly, but he was already very successful in his life and his business.  He was already a multi-millionaire.  He already had the mindset, the habits, and all these other things in place, that when he got into it, he was able to do much better than most people would.  For most people, when you are building a business, you have got to develop yourself more than anything. You have got to develop the habits, the confidence, the beliefs, and the success mindset that's going to go along with that. There are occasions like that.

You are not seeing how much money the person's investing to make a certain amount of money.  In a lot of cases, I've seen a lot of people that have gotten rich quick, because they are exploiting a loophole, a trick, or some sort of shortcut that makes them some money in a month, two months, or three months, but it doesn't last, because to build a brand and a sustainable business over the long-term, it does not happen overnight.  It takes a lot of time, hard work, and sweat equity in order to build that up.

It's almost like when you see people that lose a lot of weight. You see images and transformation success stories. I remember watching a documentary that was showing how a lot of these stories are BS. I think it was called “Bigger, Faster, Stronger”.   You see the before and after of a person who was fat, and then who loses weight, but the person that was fat was already in amazing shape before, and then they got fat again, and then they lost the weight again.  They already had the habits.

They already had the metabolism, so it was very easy for them to do that.  My point is that, 99.9% of people are not going to get rich quick.  Do not get into an online business thinking that you are going to get rich quick. That is the worst mentality to have. You have got to view it as a marathon, not a sprint, and go at it building a long-term business if you want to be successful.  As much as it is marketed to you that you are going to get rich quick, it's not true. It's a lot more work.

I mention this because I know some gimmicky Internet marketing guys out there that have sales letters and use videos that market that notion, because that's what works and what converts the best. The reality is, that after every course and program that you go through, you soon realise that there is a lot of work and time that is expected of you.

3. Everything online is a scam.

This is one of the biggest myths out there. There is so much skepticism out there; people believe that everything is a scam. They think, “You are a scam. This course is a scam. That product is a scam”.  They are so afraid to buy a product or a course. Maybe they've had a bad experience before in the past, or maybe they heard about these scams, or when they check their spam folder in their inbox, they see a spam email from someone that says, “You have got to wire me $10,000”.

A lot of people have a lot of fear around that. They believe that everything is a scam and it's not true.  In fact, most things online are not scams.  Most things are legitimate businesses, products, or courses that have tremendous value and benefit for you. I have bought a lot of products and courses online, and truthfully, none of them have been scams. I've never been scammed online.

Maybe that's because, when I buy something, I just make sure that it has a professional website, testimonials, that it's a reputable person.  I am able to check out their content beforehand and know a little bit about who they are, what they are about, and what they entail. Doing some due diligence can help.

I don't know of any scams of products and courses that are out there. The reality is, you can't really get scammed online, not unless you are really naïve, you wire someone a lot of money, and they trick you somehow.  In terms of different products that you buy, a lot of the courses and products that you buy online aren't scams because, #1, they have a refund policy. Usually, they have a 30-day money back guarantee, or something like that.

That is always the first thing that you should feel comfortable about when signing up for a product or something like this. When people process their payments online, usually they are using a third-party payment processor, like PayPal, ClickBank, Stripe and things of this nature.  For example, you can use PayPal to sign up for my products.

When you use PayPal, you can dispute transactions. If something is a scam or someone doesn't give you your money back within 30 days, or they don't deliver what they said, then you just go into your PayPal account and you file a dispute.  Paypal will be notified of that dispute, and you show them that they didn't email you back, they didn't give you your money back, or they didn't deliver what was promised, and then PayPal intervenes.

They will refund the money for you.  For example, I also use ClickBank for my payment processing.  Lets say you were to buy something from me and I don't respond to you, for whatever reason, which we always do, because we have got a great customer support.  You can always go to ClickBank, email them, put in your receipt number, and ClickBank will file a refund, because companies like PayPal or ClickBank don't want chargebacks.

Chargebacks are when people report fraudulent activity to their credit cards.  If something is fraudulent, you can always report them to your credit card as well, but there's really no scams for that reason.  If you are buying stuff online and you use common sense, and you order through PayPal, you are pretty safe.  Not everything is a scam.

There are scams out there.  For example, when someone sends you an email that goes to your spam folder and tries to trick you into sending them money, or sometimes you have got to watch out for emails that you might get from someone that's trying to impersonate your bank account or PayPal.  They may want you to log in so that they can get your password or something like that. Those are the things that you have got to be more aware of, but the reality is that every course that I've bought has had value to it.

It's just a matter of applying what's taught in the course, finding the value in it, and implementing it into your business or into your life.  That's another common myth that people have. 

4. You can just build a website or launch a product and then you are going to be successful.

A lot of people believe, “Oka, I've just got to create a website. I've just got to launch a book on Amazon.  That's it, and then I'm going to be successful”.  They don't realise that the easiest part of getting started online is creating the website and launching the product.  That's the first part.

The real work is spending time on marketing it, getting traffic, building followers and customers, and promoting online. That's the work.  People that have this mentality that, “If I just build it, then they will come,” is the worst thinking of all. It's not as easy as just putting out a product.  For example, people that get into publishing say to me, “Stefan, I published a book but I'm not making any money”.

I say, “Okay, great. Are you promoting your book? Are you marketing your book? Are you getting traffic to your book? What are you doing to promote it?” They say, “Oh well, I thought that if I just put my book up there on Amazon that I will just make all this money and get rich quick”.  I'm like, “Where does it say that? Where did you…?” I've never taught or believed that. It's just mind-boggling what people actually believe and think. The reality is, is that there's work involved in building an online business.

5. People that are teaching online, that are teaching people marketing, business skills, and how to build a business online, that they are basically all liars, that they are all fake.

The reality is, is that some of it is true and some of it is not. There are a lot of people, like myself, that pride themselves on being honest and truthful. I've never lied online. I've never made things up. I've never had to exaggerate things in my business. I share my real life.  I say, “This is where I live. This is my car. This is how well I'm doing”.

I do that for myself, and I do it publicly so that other people can benefit from it as well. I'm honest. There's a lot of very honest people out there online. Usually, they are the people that have integrity.  They have a higher level of consciousness.  

However, I say that's partly true because there are some people out there that will lie, people that will make stuff up or exaggerate things, or there are people out there that will hire modes.  They will hire a Lamborghini for the day for their sales video.  They will just do certain things like that to create a certain perception in order to try to sell you in some way. Truthfully, when I think about it, a lot of advertisers, even on TV and commercials do this.

For example, McDonald's will hire Michael Jordan to try to sell you to buy McDonald's.  It's not like Michael Jordan is eating McDonald's or that Michael Jackson is drinking Pepsi.  They pay them to endorse their product.  Unfortunately, it goes beyond that. A lot of marketing advertising do that to try to sell you the product.

There's a lot of people that do that. There's a lot of behind-the-scenes stuff with that. That's why I say it's partly true, but there's a lot of honest people out there as well.  There's a lot of people out there that are legitimate.  I've never had a reason to lie. I share my life. I share my goals. I share how well I'm doing.  There's a lot of people out there that don't believe that what I do is real. I remember when I bought a Corvette Stingray in 2014.

Many of you guys remember that, that followed me back then.  I bought the brand-new 2014 Corvette Stingray, the brand new model, and I was super excited about it, and I shared it because I wanted to share it with people because it was a big win for me. I was at the car dealership and I actually have a picture of me at the car dealership because the car was in the showroom. They put a sold sign on it and I was holding it up that it was sold, and it had my name on it.

I bought the car. I shared it.  Before that, I moved into a penthouse on the forty-eighth floor that I lived in for over two years, and it was my home.  A person ended up leaving a comment on my blog and was like, “This is all a lie. It's not true. It's all made up. Stefan's a liar.  He doesn't really own that car. He just rented it for that day just to show it off for you guys. It's not really his car, and he doesn't really live in that penthouse either”.  I remember reading that and I was blown away that people would actually think that way, that they did not believe that it was real.

I remember that person, I actually put them in their place. I went down to my car that was in the parkade, and I said, “This is my car. Here are the papers for it”.  I actually had to prove it to this person that it was real. I don't know how much more proof I can give people. There's still people out there that don't believe that its true. They still doubt it, and still think that I don't really live in the place that I live in, and that I don't do well.

Honestly, you will never convince those people. There are just certain people that are so skeptical and fearful. Some people are like, “Well, if that's the case, then I want you to give me access to your bank account, so let me log into your bank”.  Obviously, there are certain limits to what Im going to do.  I've shared my trading account and things like that in videos, but I'm not going to give you my bank account or try to convince you further than that.

I believe that the truth is always revealed.  Time will either expose you or it will show you the truth of who you are. I believe that I have a track record of being honest and transparent online, a record of helping people and adding value.  In my videos, you can see who I really am, my life, my values, my personality and my caring, and it's been demonstrated time and time again.  I tend to give people the benefit of the doubt and like to believe things.  I believe that, if someone is successful, even if it is BS, but if me believing that can give me more confidence and hope, then why not? ” Then I will believe that it's possible.  I like to believe that anything's possible, and so I'm just very optimistic in that way.

6. You can push a button and just make money online. 

This is a funny one because there are some marketing and sales videos out there where it says, “Just press a button and you're going to make all this money. You are going to get rich quick”.  Again, that's BS. It's not as easy as just, “You press a button. That's all there it is to it”.  Like Ive said so many times in this video, it takes hard work, commitment, and sacrifice to build a successful online business.

7.  You can make money online without spending much time.

There is myth that you can just do it for 30 minutes a day, or an hour a week, and you can build an online business. That's not true either. Building an online business takes work and time. At the beginning, it's going to take more time because you are going through a learning curve, you are new, and you don't understand things as much. You are going to have to spend more time.

Starting a business is almost like having a baby, where it's going to require a lot of your time and attention at the beginning, and then as time goes on, it's going to become more independent, and it's not going to be so dependent on you for its needs. When you first have a baby, it's 100% dependent on you for its survival, but eventually, it's not dependent on you. It can survive and be independent and care for itself.

That's what it's like to build a business. It's going to require your time upfront. Now, could you spend a couple of hours a week? Yes, it's going to go slower of course, as opposed to putting in more time, but to be really successful, it's going to require your time, commitment and energy to make it happen.

8. You can make money online without spending any money.

Now, 99% of the time, you can make money online without spending money, but you are not going to become successful online without spending money because there are expenses in building a business. Think beyond just making money on it. Think about building a business. To build a business, you are going to need to eventually set up a corporation.

You are going to eventually need an accountant or a lawyer for your business. You are going to need the right resources, the tools, the software that are available online, whether that's a domain name, whether that's hosting, whether that is paying for advertising, for product development, an assistant, a team.  There's expenses involved.  I think a lot of people just think that, “I'm just going to start a business and make all this money without spending any money”.

Now, you can make money on Fiverr and just exchange your time as a freelancer. That doesn't require any money. Or you could go on Upwork or go to Craigslist and make money exchanging your time for that.  You could set up a free YouTube account and make money that way as well.  

The reality is, if you want to build a business and actually be successful, I'm not talking about just making a little bit of money here and there, but actually being successful and making a lot of money, it's going to require money. It's going to require investment. The reason why a lot of people struggle online is because they don't invest their time and their money, and they are caught up in all these myths and misconceptions that are out there. That's why a lot of people struggle.

If you are actually serious about building a business, I think you've got to treat this as a business and in treating it as a business, it's going to require some money. It's like I said, having a baby. A baby is going to cost you money. You are going to have to care for the baby with your time and you are going to have to support the baby financially. You have going to have to feed the baby, just like you've got to feed your business. You are going to have to get the baby clothing and do the things that are necessary so that the baby can survive and thrive.  Its the same thing with starting a business. 

9.  You can make 100% passive income online.

What do you guys think? True or a myth? It's actually a myth. Now, you can make passive income online. I make passive income online, but you don't make passive income online forever. The reason for that is that the Internet is always changing and evolving.

For example, I have a lot of passive income streams set up in my business, 6 figures that I have every year, just passive, and I can make that passive income, maybe for a few years, but eventually, it's going to die. The reason for that is that every business still requires you to keep an eye on it. You can't just set it and forget it. You still have to check in on your business once a week or once a month, and see how it's doing.

When changes happen, you have to adapt. You have got to evolve with the changes that happen online. If you look at most businesses people might have started 10 years ago online, the Internet has changed a lot in the last 10 years. A lot of the strategies have changed and evolved. The search engines have changed, YouTube and Facebook, social media, all these things have changed. I don't believe you can make 100% passive income. It's not going to last forever.  The very rare exception would be if you published a book, let's say, and you become a bestselling author.

For example, Jim Rohn and Wayne Dyer have published books on Amazon, but they've spent so much to promote and market them, and build their name and their brand.  They are no longer around and they are still making passive income. They are making royalties from their books and their products that they created many years ago.

That's the rare exception.  If you do it the right way, and you build a brand and a name that a lot of people recognize, then your products can still make you money long beyond when you are alive on this planet. However, most businesses, like I said, are going to require you to check in once a week, even if you have a team running it or software running it, you are still going to need to check-in on it and adapt, in one way or another.

The best passive income for me, personally, is when I make money online, I reinvest back into my business, but I also take money out. I invest in the stock market and I buy blue chip dividend paying stocks. Blue chips are stocks that are very secure, are very big companies. It might be bank stocks and things that are very unlikely to collapse. For example, here in Canada, Bank of Montreal is over 100 years old, and has been through recessions and depressions.  It pays a dividend and it's very secure.

For me, by investing in certain things like that, I'm going to get paid a passive income in a dividend. I make a couple of thousand dollars a month just from my investment portfolio. That's just pure passive income. I don't have to check it. I don't have to monitor it. They will just continue paying me those dividends month after month, or every quarter, so I believe that's the best passive income.  Or maybe real estate that you've rented out, but unless you have a property manager, tenants are going to move in and out.  You have got to do repairs and things of that nature as well. That's why I like the stocks that pay dividends the most. 

10. You can just live the 4-hour work week.

By the way, a lot of these myths, there's a little bit of truth to them. There are the rare exceptions, but that's the .1%, so that's why it's primarily a myth because the .1% of people is not the majority of us. The 4-hour work week is a common myth as well, that you can just work 4 hours a week.  Now, you can live the 4-hour work week for a period of time. For many, many months of my life, I was just living the 4-hour work week and I was semi-retired.

The reality is that no-one's really living the 4-hour work week online forever.  I've got many friends, including myself, who travel to Southeast Asia for a few months. We might live that lifestyle for a while. People like Tim Ferriss, who wrote the book, The 4-Hour Workweek, or Frank Kern who promoted the surfing lifestyle, these are all people that work extremely hard.

They are not working 4 hours a week. They are working the 60-hour work week. They areputting in tons of time into their business and what they are doing. The difference is that they love it, though.  Now, could Tim Ferriss and these people work 4 hours a week? Yes. They can maybe just enjoy the money from their books that they have.  Like I said, it's not going to last forever. It's a misconception, because I think that you need a purpose in your life.

You need something that's going to drive and motivate you, that you love, and that you're passionate about. For me, when I was doing publishing, I built it up to 6 figures, and I just retired for a while. I wasn't really passionate about publishing and I just did nothing for several months. I was so bored. I was so unhappy. I was so unfulfilled. I didn't have anything that challenged me in my life. I didn't have anything that pushed me. I didn't have any goals or desires.

I think a lot of people believe, “I'm just going to live the 4-hour work week lifestyle”.  Again, it's great to make money so you can have that freedom at times. I think that the ultimate fulfillment comes when you find a way to do what you love. When you are doing what you love, you find ways to do it even more, but it doesn't feel like work. It's a mission. It's a purpose. It's a calling that you have that really lights you up and fulfills you.

Conclusion

I think that's the ultimate. I've talked long enough in this video, but I wanted to go over some of the 10 common myths that people have about building an online business and making money online. Hopefully, my knowledge and my experience on this subject can open up your eyes and help you understand the truth and the reality of it. The truth is, oftentimes, its what a lot of people don't want to hear.  We live in a culture where everyone is so addicted to instant gratification. That's what is marketed to us.

The reality of the situation is that it takes work, time, sacrifice, and commitment, and if it was that easy, then everyone would be rich and successful, but that's not the case. I just want you to understand and be reminded of the reality of the situation.  A good book is called, “Grit” by Angela Duckworth. In this book, Angela shares what grit is, which is passion, perseverance and not getting caught up in instant gratification. It is focusing on being gritty.  She studied some of the most successful people and realized that there are a lot of behind the scenes things that you are not seeing, all of the hard work that people put in to being able to be successful in their lives. It's always important to remind ourselves of that.

Thank you for watching this video. Make sure to like this video if you guys enjoyed it. I appreciate the support. Make sure you leave a comment below. Let me know if there's another myth, something that you might be aware of. I'd love to know what those are. Subscribe for more videos if you want more content and more videos from me like this, and of course, if you guys want to know more about how to build an online business, I've got a great free training course that's available, that shares 7 online business models that I've utilized in my business that have made me an Internet millionaire.

The great thing about this course is that I go into 7 different online business models, from Amazon, publishing, blogging, etc., and I share each one, the difficulty level, and how newbie-friendly it is. I share the potential of it. I share how much is often required to invest in order to get started with it.  I also share the best resources in order to get started building a business, depending on the business model that you want to get involved with. 

If you want to get access to that, click the link below in the description, head on over there, put in your email address and I'll send you instant access to it. I want to thank you for watching this video and I'll see you in the next one!  Take care.

Please leave a comment below or let me know any questions you have.  I'd love to hear what you think!

Please subscribe below to get automatic updates of my latest video blogs:

Thank you so much for your support, and if you have yet to leave a rating or review, please leave me an honest one on iTunes, YouTube or below on the blog.  I appreciate it!

The 10 Myths Of Making Money Online
4.6 (91.11%) 9 votes
  • Ah, thanks for the clarification! I understand that building a real business online always requires money, most of the time quite a lot of money. But the thing is, you can GET STARTED making money online without spending any money, like I have made a few thousand dollars on Upwork. But now, as I want to establish a 6-figure Kindle publishing business online, I have no other way but to invest those couple thousand dollars. And that’s okay.

    Thanks, Stefan.

    • No problem! You can get started with no money or little, but will always be in a better position if you have some money to invest to get started.

  • Great Blogpost! I was strugle in the past to make some real money online but nothing happened. With kindle lessons of Stefan, i have made my first dollars online. Keep up the good work man! Cheers from Greece! https://uploads.disquscdn.com/images/63ae2cd08af65868bf68f4443880a89da4a13fa8742ee4a0cd761f4ae652ed12.jpg