Make Money Online vs Online Entrepreneur ...Which Are You?

[Silverhawk851]

With $306 Billion in online spending for 2014 in the US alone, there are literally hoards of people jumping on the “online income!” bandwagon.

Everyone I spoke to this year, loved the idea of making money online. Loved it!
And when them I told them what I do, immediately they began asking me how they can make “even an extra $2000/month online, because I want to quit my job”

What people don’t realize is, there are two distinct ways of thinking about the business side of the internet. Two types of marketer online:


1) You can either be in it to “Make Money Online” , chase the quick buck, and are willing to do whatever you must to make a dollar, no matter how shady,

OR

2) a "Online Entrepreneur" who is willing to apply yourself to creating a proper Business online, dedicated to solving problems and providing massive value to customer relative to the dollar amount that you charge.


One is short-term, self-indulgent behaviour feuled by instant gratification and greed,
While the other is long-term, providing value based growth mindset.

What ever happened to creating value? It takes time, effort and persistence to create a value-based business with true long-term capacity of growth and becoming an asset to society.

Anyone can peddle some scammy toolbar that freezes peoples computers and fills their browser with scammy ads.

Signs of “Make-Money Online” Mindset:

-Consider visitors to sites, as “clicks”
-They are always looking for the big payout affiliate offers
-Copy paste ads they found and run them on Sitescout/cheap traffic source
-Worried about the hottest niche/offer/traffic source
-Think affiliate managers/anyone can make them rich in a couple months
-Will peddle anything
-Does not want to work, just rip landing page and try to run some shady traffic
-Wants to make money this week
-Wonders how those ‘big fish’ are making so much money online, what traffic they run, what niche, etc
-tries to make money on the front-end


Signs of “Online Entrepreneur” Mindset:

-Considers visitors to site as real people
-Dedicated to providing maximum value to consumers for dollars earnt
-Builds real Business System, full funnel
-Does not employ any shady tactics
-Looks for opportunities to create sustainable business growth
-Ability to build now, for future success
-Takes time to learn, adapt and sharpen the skills required
-Willing to lose money on front-end, to make money on the backend
-Works hard consistently

With the current rate of drop-off of people who join the Internet Marketing industry at 95% in the first 6 months, it’s no secret that the over the long term, the real Online Entrepreneurs win.

No matter what your medium, business laws are fundamental, whether you are a brick and mortar store, online website, or an app.

Scammers do not last, true value does.

So ask yourself, What extra value can I provide to my customers today?
Is there another product that I can add that would help them?
A simple Thank You card I can send them?

Remember, Give first, take second.

TL;DR

-Two mindsets online, “Make Money Online” = quick hustle to get some bucks, no matter how scammy, “Online Entrepreneur” = create massive value, attract, and retain customers. Growth mindset.
-‘Make-Money Online’ people drop off within 6 months
- Long term value creation is what is successful everytime
-Online Entrepreneurs take time to learn the necessary skills to serve the best way they can
- Online Entrepreneurs create a proper system for attracting and retaining customers
-Make Money Online people just want to throw up a page and start getting paid
- Business Fundamentals remain the same, regardless of your medium
- Visitors to your site are people, not ‘clicks’. Treat them like people and cater to needs

 

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[Andy Black]

Great post sir.


The biggest give-aways of the wrong mindset for me are:

"Clicks and traffic"
versus
"Visitors and people"


"Make money on the front-end (what's a backend?)"
versus
"Breakeven/loss on the front-end, to acquire a customer and profits on the backend"
​

Now where's that underground rapid traffic profit explosion eBook I bought last week?

 

[Nicoknowsbest]

Scammers do not last, true value does.

This. Cannot agree more. Why bother, if it has a limit and pisses people off? You just harm yourself this way. And it is true in every other area of life too. Using steroids - you'll get the (health) bill soon. Playing women -you'll never find the right one. Everything worth having takes time and effort. Take it or leave it.

Great post @Silverhawk851!

 

[Silverhawk851]

Now where's that underground rapid traffic profit explosion eBook I bought last week?

Hahaha $19.97 solves world problems these days

 

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[Silverhawk851]

Why bother, if it has a limit and pisses people off?

Exactly. And the opportunity cost is so high, there is no point really. Could've spent that time building something more solid with an infinity higher ROI on time spent

 

[Lex DeVille]

So glad I learned this lesson before starting my latest project.

 

[Ninjakid]

As of now I'm building a website just for fun. Might monetize it, might not. Who knows.
If I just wanted to make money online, I would have paid attention to those goofs on YouTube who say how they used to hate their life, but they discovered some formula for making money online, and now they're going to show you how to get a lambo and work for 30 minutes a week like they do.

Everyone wants the easy way. Many people believe that just because you can use the internet from basically anywhere, that it's "easy". who wouldn't love to stay home and get paid right? The internet industry is no easier than any other industry IMO. It's just different.

It takes time effort, and a piece of your heart to build anything worth value. You can look into the lives of successful entrepreneurs whom we admire and draw inspiration from today. They put in a ton of hard work. They followed no secret scheme. They put in the work and reaped what they sow.

 

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[~Phil]

I've got a lot to learn. So glad I stumbled on this site.

 

[Alveko]

Great post, as usual.

 

[Durete]

Good post indeed.

It is common sense. but sadly many people lack that nowadays.


Just wondering though, I might just not be familiar with the english terms.
You talk about front end and back-end.

What exactly do you see as front-end and back-end.

My way of thinking would be: Front-end=products/services that you sell (Direct income)
Back-end: Contracts with people, subscriptions etc. (indirect/delayed/returning income)

But that is probably way off.

 

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[Silverhawk851]

What exactly do you see as front-end and back-end.

I'll be making another post regarding that.
It comes down to your Sales Funnel.

Alot of people, will send their visitors directly to a sales page for their product, which could be $200-$300 dollars. Then they get an abysmal conversion rate and wonder why nothing is working.

This is the equivalent of meeting someone and going for the kiss before you know their name. Or telling a home owner to sign the contract on a house before you even know if they are interested.

What smart marketers do is give a GREAT offer upfront, with lots of value, so that people become "Buyers". Sometimes even at a deep loss. Once you have a buyer, you establish a relationship with your customer, develop trust, and then send them to your core offers over time, where you will make money down the line.

I know companies that ''float" few hundred dollars on the front end for every customer (that's huge) just to kill it on the backend.

 

[Shdreams]

Great share man. I got caught up in most of what you said "making money online" is Rite off the get go. Success is a steam train not Ferrari. No one can stop a damn train.

 

[James Turchetto]

I think I've already been aware of this myself, having done social media marketing and lacking full control of my income. At the same time it has been more than lucrative for some and there are ways to spin it into a full on entrepreneurial business.

I may have an opportunity to get back into it in the coming months but I still do look at things from the make money online mentality, however I've also wanted to provide value to who I'm marketing to (niche specific and information that would benefit the reader) but not everyone is the same.

There are plenty of other marketers who have found the right niche for ''junk'' news if you will and are doing amazingly well and making 7 figures a year... and they're not having to sell anything to anyone.

Your point is entirely valid though and behaving purely as option 1 rarely works, but a mix of the two and you're in the game.

 

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[Andy Black]

What exactly do you see as front-end and back-end.

This is how I see it.

 

[jlwilliams]

95% give up in the first six months? That's amazing! I think that speaks to the low entry threshold.

 

[James Turchetto]

95% give up in the first six months? That's amazing! I think that speaks to the low entry threshold.

Everyone starts from somewhere but few have the willingness to continue in adversity or don't really understand what they're doing to a reasonable standard. You can watch and read as many guides as you want there is no replacement to actually doing something but on top of that knowing you can get results. Something most who just start will never get because they don't have a deeper understanding of what they should be doing.

 

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[borntodominate]

This forum is pasted with ads, so what does that mean?

 

[theag]

This forum is pasted with ads, so what does that mean?

Lol, are you serious? You should start asking better questions dude.

 

[MJ DeMarco]

This forum is pasted with ads, so what does that mean?

Means at least two things:

#1) That I've used an attract strategy by building a large community that can be effectively monetized via advertising, versus a chase strategy of building something worthless and pasting ads everywhere attempting to make "passive income".

And

#2) That you're not an INSIDERS and have not paid to view the forum mostly ad free.

 

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[borntodominate]

Means at least two things:

#1) That I've used an attract strategy by building a large community that can be effectively monetized via advertising, versus a chase strategy of building something worthless and pasting ads everywhere attempting to make "passive income".

And

#2) That you're not an INSIDERS and have not paid to view the forum mostly ad free.

I was referring to the fact that using ads to monetize is not really a "make money online" mindset.