Dot.Com or Internet businesses started going main-stream within the early 1990’s and between 1995 and 2000 internet stocks were selling at multiples of their book values. Most of the Dot.Com companies had nothing tangible to justify their Mount Everest-high prices. It didn’t take long before the market started correcting itself and by October 4, 2002 the NASDAQ index had crashed by 76.81%, to 1,139.90, from a peak of 5,084.62 recorded on March 10, 2000..
Since the burst, the Dot.Com business had separated the lads from the boys with valuable lesson learnt. Many of the boys went home to their parents to lick their wounds while the lads started checking out the keys to online business success. As a matter of fact, nobody key to online business success was found as internet business was a fresh territory. So it became a matter of trial and error to seek out out what worked.
In 2012 Rich Schefren released his much-acclaimed Internet Business Manifesto during which he advised Dot.Com entrepreneurs to approach every aspect of online business, from list building to development and sales, strategically instead of tactically. He particularly noted that technology is an enabler and therefore the whole focus should get on developing structures and building relationships instead of trying to find tactical advantages like trying to outsmart the algorithms.
Since the Dot.Com crash, many online entrepreneurs have found out what works and what doesn’t and therefore the internet is producing millionaires in record numbers in assorted niches and sub-niches. one among such millionaires is Russell Brunson, the author of three best-selling books: Dot.Com Secrets, Expert Secrets, and Traffic Secrets. These books are definitive guides on what works online. If only to notice en passant , as at the 2020, Russell Brunson’s net-worth was estimated at $41m; a figure he built over 15 years.
Scott Cunningham of Social Lite shortly ago acknowledged that online entrepreneurs undergo three phases: the crawl phase, when you are making but $100,000 once a year , the walk phase when you are making between $100,000 to $1m, and therefore the run phase when you are making over $1m. it’s at the crawl phase you would like the foremost learning.
For those folks within the crawl phase, it is vital to notice that, a bit like anything in life, online business has its own guiding principles. those that achieve an enormous way online follow these principles. the other is additionally true for those that fail. As Russell Brunson and other internet business experts would readily advice, do what works. Don’t attempt to reinvent the wheel.
Here are seven signs you are not ready for online business success. Not in any particular order, they include:
- you are not curious, indeed more often than not you’re skeptical that folks such as you are building successful online businesses and making money.
- you are not paranoid, indeed you think online business may be a passing fad and can soon get away . Andy Grove, Intel’s co-founder, once said, “Only the Paranoid Survive”. the web isn’t likely to travel away soon.
- you think Social Media may be a distraction; if you employ SM in the least , you employ it for the “social” aspect. Social media like Facebook, Instagram, and YouTube are business tools if you recognize the way to use them.
- You lack production mindset, you rather consume, and if you produce in the least , you’re inconsistent. To succeed online, especially if you’re selling digital products, you want to be a prolific producer.
- You wear the toga of expert, always asking, “What can anybody teach me?” As Steve Jobs said in his Stanford’s 2005 Commencement address, “Stay Hungry. Stay Foolish.”
- You specialise in the negatives: fraud, complexity, and therefore the technicalities etc., thus convincing yourself “it’s not for me”. the web has its dark side. It also has its silver lining . Embrace the brilliant side.
- you reside a “satisfied life” believing you’re already successful so “why bother?” this is often the attitude of high corporate earners. Why not invest and learn now you’re earning high; sooner or later, you’ll retire.
If you exhibit three or more of the signs I even have enumerated above: you lack curiosity, you are not paranoid about the web , you hate social media or only use it for play, you rather consume than produce, you think about yourself an expert who knows it all, you simply see the dark side of the web , and you’re too satisfied to bother, the straightforward interpretation is that you simply lack online business success mindset.
The signs simply say you are not ready for online business success. I define online success as someone who makes a minimum of $10,000 monthly online and scaling and investing massively to maneuver from the crawl to the walk stage. My simple advice to you is this: get off your couch, placed on your trainers and begin trying to find online business influencers to find out how you can also succeed online.