The hard truth – is MMO something I’m willing to invest my time, money, and knowledge in?
If the answer to that is YES and I’m not telling you it should be (only you can decide that), then you’ll need to decide what avenue of MMO is right for you?
We are going to get into the different ways you can make money online (in a different post) and what you’ll need to learn to accomplish those things. But many of my connections ask me this question:
Is this something that’s truly worth doing?
My answer for them is IT DEPENDS – I always tell people who ask to follow your passions/dreams to the extent that you can afford them (in time, money, and knowledge). Ok?
Do NOT go into debt to make money online because you can spend more time (and less money) to learn the skill.
The answer for myself is YES – because I know the only way to scale what I do is to put it online. And if you’ve ever read Rich Dad, Poor Dad by Robert Kiyosaki, then you’ve heard of the Cashflow Quadrant.
Cashflow Quadrant broken down for beginners
There are 4 ways to create cashflow (generate money):
- Being an Employee: where you trade time for money (I still have a regular job!)
- Being Self Employed: where you still trade time for money and then maybe create a lifestyle business where you’re making the money you want to.
- Creating Systems: where you create a product, service, or process that can be replicated and sold to others, by others and yourself. This is where you start to get back more of your time. Once you create a system (like an eCourse) – you can sell this in your sleep.
- Being an Investor: where you take the money that you have and invest it into real estate, stocks, commodities, etc. Again, this can be done with very little to no time once things are set up.
But you will ALWAYS have to spend time if you want to make money online – again, this is UNAVOIDABLE. The initial set up will take the most time, but once things are set, the time factor becomes less and you gain a form of freedom that you would not otherwise have. How much time depends on YOU!
The Goal?
The goal of making money online is to create a system that can be replicated and scaled so you aren’t continuing to trade time for money. And that’s as simple as I can explain it. So, if you want that for you – then keep reading.
So what is the HARD TRUTH?
The hard truth is this: If you are a beginner in the Making Money Online space then it will take you AT LEAST 1 full year to build and grow a successful digital business where you own the products/services you sell and you stand behind them as an ethical digital creator.
Anyone telling you that you can spend 1-2 hours a day and making 4 or 5 figure per month income is LYING TO YOU!
For beginners – you’re going to have to treat this like a FULLTIME job. That’s the only way to actually become successful, unless you go viral.
BUT – only 1% of people doing this actually go viral – don’t believe that you are going to be in that 1% because the probability of that happening is slim (1% chance!).
The other hard truth is that YOU DON’T HAVE TO SPEND MONEY ON A COURSE (especially if that course says “we have strategies and templates that are ‘DONE FOR YOU’). What that really means is the strategies and templates THEY created worked for THEM (therefore, DONE FOR THEM – NOT YOU!)
There is NO single course out there will ACTUALLY show you how to build a successful digital business. This is true – they might show you successful marketing strategies that work today (or worked last month) but these things are always changing in the digital world. Nothing stays the same!
What should I do if I’m a complete beginner?
Ok, so here are the high-level steps you will need to focus on:
- Find a niche (category, topic, industry, market) that you are interested in and have some valuable knowledge in.
- Please note that THIS is what beginners have trouble with and WHY they choose to go into the MMO (making money online) niche. But that just sells a pipe-dream. Use valuable info that gives a small audience something valuable.
- You need to list out all the interests, passions, hobbies, jobs that you ever done or had in your life (make it a long list!). Then write down all the things you want to learn (i.e. digital marketing, TikTok strategies, etc.)
- We will find ‘confluence’ and ‘voyages’ here (they are insight channels!)
- Use YOUR own knowledge to build eBooks, eCourses, PDF downloads and more to give away, share, and sell. Also take the things you want to learn and document them while you’re learning. You can share this stuff too! The best way to learn something is by learning it and then trying to teach someone else the same thing.
- Create products and services using completely FREE digital tools like:
- G-Suite: Many of the $7, $8, $9 or even $500 courses are using G-Suite anyways. They are creating courses in a slide deck in Google Slides, they are transcribing these to Google Docs and then storing them in the Google Drive to share and disseminate to their customers. It’s easier than you think!
- Trello: this is a FREE management and organizational tool that can help organize and manage your digital business.
- Canva: free to use (with paid upgrades) where you can create an eBook, logo, business cards, etc. all for FREE! It’s got a drag and drop builder and free templates.
- MailChimp: free to use (but LIMITED) and you can set up one audience list and send emails to them to get more repeat business and send out good valuable information.
- WordPress: Instead of using sales funnel builders, use WordPress – create your own website where you can house YOUR content! That way it is YOURS. And don’t just “bridge” and “phish” people to another persons’s product or service.
- Payment Gateways – you have to use a Payment Platform like PayPal or Stripe when you first start off. These are sort of FREE tools meaning that you can sign up for them for free, but every transaction you get – they will take a transaction fee. So, sign up for Paypal (personal) and you can upgrade from there if you start seeing success.
- Learn how to connect these Payment Platforms to your bank accounts.
- Once you learn all the above, and start making some money, you can then look into setting up an LLC and Corporate Bank Account to protect your product / service even more.
- But this is the key here – YOU HAVE TO CREATE YOUR OWN DIGITAL PRODUCTS / SERVICES.