Yep, sorry gurus, but today it’s judgment day, and I’ll expose this industry once and for all. Everybody can claim to have the exact steps to how to make money online. But the truth is, the journey to financial success on the internet is far from a straightforward path. Let’s take a look at a so-called “foolproof” method that many of these gurus might teach:
A Typical “Step-by-Step” Guide to Making Money Online
- Start searching for a product – Find something that seems like it will sell well online.
- Look up the MSRP (Manufacturer’s Suggested Retail Price) – Identify a healthy profit margin.
- Congratulations! You found a promising product! – With profits looking good, you move forward.
- Build a brand around the product – Create a name, logo, and style to attract potential buyers.
- Create a Shopify website – Stylize your brand, add shiny countdown timers and trust signals to entice customers.
- Seek feedback from online communities – Go to places like Reddit’s r/reviewmyshopify, where you get some feedback (even if it’s just spam messages showcasing their “unique skills”—I call them mini-gurus).
- Invest in ads – With your $500 ad budget, you jump onto Facebook, TikTok, etc., creating ads and hoping for the best.
- Collect money and reinvest in ads – Keep pouring money into ads until you “finish the game.”
Sounds easy, right? But if you look closely, this is a disaster waiting to happen. Why? Let’s explore some of the many reasons.
Why This Approach is a Recipe for Disaster
- Payment Provider Risks: You could get shut down by the payment provider instantly just because you don’t live in a Tier 1 country.
- DMCA and Copyright Issues: Even if you are in a Tier 1 country, you might get hit with a DMCA takedown for using a supplier’s image that they stole from a copyright holder.
- Social Media Platform Bans: Your ads or account could be shut down by Facebook or other platforms for using copyrighted content or violating ad policies.
- Unforeseen Costs and Low Returns: Beyond these issues, you’ll likely make less money than expected, and the time and financial investments may not be worth the hassle.
The Real Skills You Need to Succeed Online
Sorry if I was a bit too harsh on the guys selling courses, but this is the truth: You’ll never successfully teach people how to make money online without these essential skills:
- Creativity: You need to think outside the box and develop unique strategies.
- Copywriting: Knowing how to write compelling sales copy is crucial.
- SEO: Understanding search engine optimization is key to driving organic traffic.
- Social Media Mastery: Learn the nuances of each platform to effectively market your product.
- Business Acumen: Digital business is just an extension of traditional business; understanding the fundamentals is essential.
- Design: Aesthetic appeal and user experience can make or break an online store.
- Continual Learning: Watch countless educational YouTube videos and courses to stay updated on industry trends.
- Understanding Internet Architecture: Know the basics of how websites and online systems operate.
Once you have these skills, you can start applying them to create your projects! And be prepared to fail, over and over and over again.
Patience and Adaptability: The Two Most Important Skills
Making money online (ugh, I hate using this phrase, but I have to for the keyword!) requires the patience of a rock and the adaptability of a tiger. For example, did you know that if you make SEO enhancements to your website, it might take 3 to 6 months before you see any effects? Do you know how much data needs to be processed for algorithms to adjust? Companies like Google, Facebook, and TikTok handle billions of data points daily.
That Facebook ad you launched? It might give you misleading data, so you must be patient and prepared to test repeatedly. Only then might you see some progress, potentially taking 2 to 6 years.
But What About the Gurus Making $100K on YouTube?
You’ve probably seen those guys on YouTube claiming to make $100k on Shopify while refreshing their screens live. This could be legitimate in two ways:
- Experience: They’ve been in the online world for ages and know exactly what processes to follow to get those results (even in this case, these are gross sales, not net profit).
- Established Brands: The brand they own has been in the market for at least three years (a rough estimate).
Of course, in today’s digital age (Hello Chat GBT Clone), everything can be faked. So, take what you see with a grain of salt.
So, Mr. “I Know Everything,” What Is Your Solution?
The chances of making it big in the online world are slim to none. Do you have any idea what kind of work you’ll have to put in, alone? Scared, hopeless, and with everyone around you telling you it’s impossible?
If you want to make money online, let me give you the perfect approach (that I’ve seen work repeatedly over the years):
The Real Formula for Online Success (E-commerce with Dropshipping as an Example)
- Go Back to School (YouTube): Learn the basics of psychology, philosophy, epistemology, and economics.
- Build a Small Team: Find two people—a design specialist (website, designs, etc.) and a copywriter/amateur video editor. With AI, it’s easier to make great copies; just learn to prompt properly.
- Take the Lead: Your tasks include:
- Conduct proper product research: Find the best suppliers and start with a product sourced from the same market as your clients.
- Analyze marketplaces like Amazon for popularity, reviews, prices, and sellers of similar products. Look for evergreen products with growing demand.
- Check media coverage and social mentions of your product for ideas and inspiration.
- Develop Your Brand: Brainstorm how hard you want to push the product. Remember, people buy emotions, not necessities, online! Start from your own personality and define your brand identity based on your team’s collective persona.
- Design the Website: Focus on creating a user-friendly site. Remember, you’re selling a product, not a website—emphasize user experience and streamline the buying process.
- Advertising Strategy: Learn the best practices for creating effective ads on various platforms. Understand your target audience and tailor your campaigns to meet their needs.
Why Gurus Teach Instead of Applying Their Teachings
It’s much easier to teach (just grow a set of balls and repeat the script) than to apply those teachings yourself. It’s hard, it’s risky, and it requires a lot of effort. Teaching means you have a warm audience (people actively searching for whatever course you’re selling).
Why You Can’t “Make Money Online” Alone
While it’s tempting to think you can become an overnight success on your own, the reality is that building a sustainable online business is nearly impossible without a team. Traditional businesses have always thrived on collaboration. From the earliest days of commerce, businesses have been built by groups of people working together, each contributing their unique skills and expertise. This collaborative effort forms the backbone of what we know as a “company.”
A company is more than just a collection of tasks—it’s a group of individuals with complementary skills, working towards a common goal. Together, they create a company personality and a brand that resonates with customers. Each team member brings a different perspective and skill set, whether it’s marketing, product development, customer service, or operations. These roles are crucial for balancing the many aspects of a successful business.
When you treat your online venture as a true business, you realize it’s not just about a flashy website or an aggressive ad campaign. A real business requires the structure, strategy, and support that only a team can provide. The combined strengths of a team allow for creativity, problem-solving, and growth in ways that one person alone cannot achieve. So, if you’re serious about making money online, start thinking like a business owner and build a strong team around you.
Conclusion
So, if you’re serious about making money online, forget the gurus and get ready to roll up your sleeves. Learn, adapt, be patient, and most importantly, keep trying. It’s a tough road, but if you’re willing to put in the work, you just might make it.
Q&A's about this Article + Some after toughts
Making money online is challenging because it requires a diverse skill set, including marketing, SEO, copywriting, and more. It also involves understanding market trends, managing finances, and dealing with potential legal issues. Many people underestimate the amount of time, effort, and adaptability needed to build a successful online business.
While it’s technically possible to start an online business on your own, it’s extremely difficult to scale and sustain it without a team. A team brings diverse skills and perspectives, allowing for better decision-making and innovation. Just like traditional businesses, online businesses thrive on collaboration and shared expertise.
Many online business guides oversimplify the process of making money online, presenting it as a series of easy steps. They often fail to account for the complexities and challenges that come with building a business, such as competition, market saturation, and changing algorithms on digital platforms.
To succeed online, you need a range of skills, including creativity, copywriting, SEO, social media marketing, business acumen, and design. You also need to be willing to learn continuously, as the digital landscape is constantly evolving.
Patience and adaptability are crucial. The digital marketplace is always changing, and what works today might not work tomorrow. You need to be prepared for setbacks and willing to adjust your strategies as needed. Building a successful online business often takes years, not months.
Be cautious of online gurus who promise quick success or claim to have a secret formula for making money online. While some may have legitimate experience, many exaggerate their successes or sell outdated strategies. Always do your research and focus on developing a solid understanding of the fundamentals.
Begin by identifying the skills you lack and look for people who excel in those areas. You could hire freelancers, collaborate with like-minded entrepreneurs, or even partner with friends who share your vision. A small, dedicated team can significantly improve your chances of success.
Yes, but only if you are prepared for the hard work, learning, and potential setbacks involved. An online business can be highly rewarding, but it’s not a guaranteed path to wealth. Success comes from a mix of skill, strategy, persistence, and sometimes a bit of luck.
Outsourcing can be a powerful tool for building an online business because it allows you to access specialized skills without the need for full-time hires. By outsourcing tasks like design, marketing, content creation, or customer service, you can focus on core business activities and scale your operations more efficiently. If the outsourced work meets or exceeds your expectations, consider bringing these freelancers on board as permanent team members. This way, you’re effectively building a team that contributes to your business’s growth while still maintaining flexibility.
When deciding what tasks to outsource, start by assessing which areas of your business require specialized skills that you may not possess or have the time to handle. Tasks like web development, graphic design, copywriting, and customer service are commonly outsourced because they require expertise and can be time-consuming. Outsourcing these tasks allows you to focus on strategic decision-making and growth. It’s essential to clearly define your needs and expectations to find the right freelancers or agencies that align with your business goals.
To ensure the quality of outsourced work, it’s crucial to set clear expectations and provide detailed instructions for the tasks you need to be completed. Start with small projects or trial periods to evaluate the freelancer’s skills and reliability. Regular communication and feedback are also key to maintaining quality. Using project management tools and establishing regular check-ins can help track progress and address any issues promptly. If you find a freelancer or agency that consistently delivers high-quality work, consider building a long-term partnership with them as part of your team.
