Why Is My Online Business Draining My Wallet?

Why is the United States Of America stuck in a depression?

GREED!

wallet image

Everyone wants their fair share of the pie but we sent all the pie makers to other countries and have no pie left!

No one wants to put in a days work for a days pay anymore.  I see that online everywhere. We are all looking for the “easy button” and there sure are a lot of people on the internet claiming to have one! Don’t feel alone, I have tried my share and that is one reason I am writing this.

An online business is a real business and should be treated as one. If you don’t want to work for it, don’t even try! Those websites promising millions while you sleep usually will not even make their owners close to a million. Stay far away from those promises! One can make a few extra bucks online doing it part time, but it takes time and work to build your web presence large enough to attract paying customers. Most quit or go back to one of those promise sites before they ever start attracting their own customers. The sad part is they still need those customers they would be attracting for any online business!

Sorry! No one else will do that for you! Some will sell you their worn out customers for inflated prices. But there you go, paying to make money! Somehow that never quite made sense to me.  You know, you can join for free but you can’t make money until you upgrade to paid membership, then you have to pay more to get targeted traffic, then pay more for a better website, and on and on…. You are draining your wallet before your business can put anything in it!

I tell my students to forget the money until you have a web presence pulling in site visitors on a regular basis, and at least 1 successful growing list who’s members trust you and your information. No products, tools, or fancy business programs will ever attract customers to you!  Even if you happen to get lucky and get visitors, I guarantee they will try to strip your affiliate link to get around paying you! They can’t on most sites now, but they will try! That is why you need to win their trust first. If they trust you supply them with the best information you can, they will want to buy from you and the product will not matter so much. (of course everything you offer must meet the high standards your customers have come to trust you offer)

So what are the Wallet Drainers?

  • MLM and product auto-ship products (you will never make money here without a huge list of loyal customers before you sign up)
  • The next big marketing gimmicks (may work to an extent but still add up costs and deflect your concentration from your main goals)
  • Leads purchases (normally cost way to much and take to much time cultivating to gain 1 or 2)
  • Traffic purchases (sending purchased traffic to a sales page is a waste of money and time)
  • Outsourcing, a great tool if you are already making money and a fast way to drain your wallet if you aren’t.
  • Membership upgrades just to earn from referring (unless you have a large list that will join under you and they provide good information and products with the upgrade)

Your online business will grow and not drain your wallet if treated as a business. It will take many tough decisions, lots of hard work (well some not so hard…) and sometimes some money.  Trying to sell others businesses as your online business is the main mistake most folks make. Others business products and services should be sold as a product of your business. A simple way of putting it is, you are recommending these products or money making plans to your customers because you believe they will help them.  If you don’t believe in them… DO NOT RECOMMEND THEM! You will lose your hard earned customers trust and your wallet will start draining again!