How long does it take to make money online? I get asked this question all the time. I hate to break it to you, but there is no universal formula for success.
I hate to break it to you, but there is no universal formula for success. It’s not that simple. When it comes to success, there are so many factors that come into play. A lot of people start an online business with unrealistic expectations.
They think that they will get rich quick, quit their day job, and live the ‘4-hour workweek’ dream life, all within a short amount of time. This is a dangerous mindset; and one that will only lead to failure.
How long does it take to make money online? I can’t answer that, but I can share with you the strategies that have contributed to my success.
Are you ready to learn what it takes in order to master your online business?
Watch the video below:
(Click here to watch on YouTube)
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Want to know which online business is best for you? CLICK HERE to take my FREE business quiz!
The digital nomad lifestyle is a very attractive world. When I discovered it, I knew that I had to do whatever it took in order to succeed at it. The taste of freedom is sweet. However, a lot of people have no idea what is involved in order to achieve online business success. You need to learn how to fall in love with the process, and become less attached to the outcome.
Instead of dwelling on the question, “How long does it take to make money online?”, let’s explore some of the factors that determine online business success.
1. Intelligence (IQ)
There is a lot of debate in the business world as to whether or not IQ still matters. Research shows that it does. Real business problems require that you are learning agile, meaning that you actively seek out information to help you solve something.
It means that you are a creative and visionary thinker, always looking outside the box for answers to problems. Just like a muscle, you need to be able to train your imagination and change the way that you look at the world of business.
Research by Carol Dweck shows that people’s theories about intelligence have a profound influence on their motivation to learn. Those who possess a fixed mindset are concerned with how smart they are, while those who possess a growth mindset of intelligence want to challenge themselves to increase their abilities, even if they fail at the onset.
2. Money
Starting a new online business requires some investment of your own money. The more that you have and are willing to spend, the more advantages that you will have. It all depends on what kind of business you want to start.
If you need to start small with regards to cost and work your way up. Keep in mind that no matter how much money you invest in your business, the value that you provide is what is most important. If you fail to add value, you will end up losing both your money and your time.
3. Mindset
Entrepreneurial success is just as much about intelligence and strategy as it is about mastering your mindset. In the words of Tony Robbins, “Whatever you hold in your mind on a consistent basis, is exactly what you will experience in your life.”
The trick is learning how to change your mindset from being an employee to an entrepreneur. Whereas an employee works a set amount of hours and is guaranteed a paycheck every month, an entrepreneur may put in 60 hours of work, and still not see any money.
Building an online business is a long-term investment. The actions that you take now are a down payment on your future. Don’t treat your online business as a hobby. It’s a business, and you need to treat it as such. A business requires time, energy, money, sacrifice, commitment, hard work, persistence, and much more.
Starting a business is like having a baby. At the beginning stages, it is going to take from you constantly, without giving anything back in return, just like an online business does. You won’t get an immediate return from your efforts.
This is why I don’t like the question, “How long does it take to make money online?”
It will take however long it takes before you have provided enough value to be worthy of making money from the work and effort that you put in. That’s all success cares about.
If you fail along the way, it's OK. Most of my failures have become the stepping stones to success in my life.
Kathryn Schulz, author of Being Wrong: Adventures in the Margin of Error says that, “We are wrong about what it means to be wrong. Far from being a sign of intellectual inferiority, the capacity to err is crucial to human cognition.”
So, how long does it take to make money online? As long as it takes. Building an online business is a journey of constant growth and development. Think long-term, make mistakes, experiment, master your mindset, embrace the challenges, and do whatever it takes in order to build the life of your dreams.
Want to know which online business is best for you? CLICK HERE to take my FREE business quiz!