Difference between $100,000year and +$10,000,000year income?

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Recently, I've been thinking people who have done Internet marketing for 10-15 years.

Here are 3 observations that I've come up with:

  1. Usually all of them are making a nice income (better than in any 9-5 job).
  2. Some of them are making $1,000,000's
  3. They all have tons of skills and knowledge.

But then I've thought more about What is the difference between those who end up making "only" $100,000/year and those who create a +$10,000,000/year business?

I'm saying "only" $100,000/year because I think it's not that big income for people who have done Internet marketing for +10 years. The potential is much higher if there's so long time involved.

But some are making even +$10,000,000/year or even more. What are those people making differently?

Here are the characteristics what I've found in those people:

  1. They are always looking for ways to grow and make progress.
  2. They are very hard-working.
  3. They love working and what they're doing.
  4. They hire a lot of people in the process. (Because alone you can't do that much)
  5. They are willing to try new things, take risks and fail often.

I think that if you and me have those 5 characteristics, we will do extremely well in any industry.

What do you think?

Real-Life Example From Austria

When I was working in a transportation company in Austria, I was thinking about the same thing also. What's the difference between the leaders of the company and those who are just "regular employees"?

A good thing within this company was that there were opportunities for promotions and raises. They didn't care too much about the degrees but focused more on your skills and the attitude.

But why some people were making twice, thrice or even quadruple times more money than the others within this company?

The single most important factor was Time. Those who were bosses and leaders had all worked in the industry for many years. Actually, if you had just 1-3 years of experience, you weren't able to get a very high position. It takes time to learn your craft.

The other factor that I noticed was Willingness to grow. There were some people who had been working in the company for +7 years but they were still in the same position as when they started. And they were fine with it.

They didn't even want to grow further. Skiing in the Alps or having a barbecue within beautiful lakes their friends was much more important in the priority list than getting further in their career. It's all about personal choices.

Conclusion - What Does It Take To Be Great?

I think that those 2 factors are a foundation in everything: Time + Willingness to grow.

You need to have enough time and you need to be willing to become better all the time.

Then the 5 characteristics that I mentioned above seem to be also important for the success in the business world:

  1. You are always looking for ways to grow and make progress.
  2. You are very hard-working.
  3. You love working and what they're doing.
  4. You hire a lot of people in the process. (Because alone you can't do that much)
  5. You are willing to try new things, take risks and fail often.

Those are the thoughts that I've come up with.

I'm still myself in the process but I always want to make progress. I want to be "Great" at what I do instead of just "Good".

-

Now that I've shared my thoughts, I would also love to hear from you!

What do you think differentiates those who make $100,000/year and those who make +$10,000,000/year?

What should we make to become great?


Please, share your thoughts in the comments below and smash "Like This" Button if you've found this topic interesting!


PS. I would especially love to hear from those who have become great at something and you've been in top of your field.

UPDATE: One that I need to add to the list is definitely having a vision that Fran mentioned below.

It's also closely related with "goal setting".

Successful people know their end-destination and that's why they're able to achieve it.

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Recent Comments

107

Thank you for a stimulating post Roope. We all define success from our individual perspectives, perspectives that are framed by our personal experiences. Of the 5 points that you list, I believe that point no.4 is very important, for the reason that you state but also for altruistic reasons. Leading or above average earners are in a privileged (hopefully deserving) position, hiring other people affords us the opportunity to develop them. Employing others is hardly an act of charity as we profit from their labour and if we provide a stimulating and equitable work situation, the benefits are mutually rewarding. The online business environment as facilitated by the likes of WA provides flexibility and near unlimited potential. The age of the "philanthropreneur" is (hopefully) upon us.

Les

Great thoughts Les!

Not to get political with the character traits of successful people you have researched, but many of my eighth grade students in Business saw through the flawed criticism of Donald Trump by Hillary Clinton in harping upon his business failures and bankruptcies during their presidential campaign: they were well versed and well read about the failures of most noteworthy American entrepreneurs and business tycoons (i.e. Wright brothers, Henry Ford, Eli Whitney, Sally Field, ................). Ergo they predicted his triumph over Hillary.

Hi Roope and thanks again for some gold nuggets tonight.
2019 and I are working the plan as I totally get the working hard, focus and determination and this is going to help a lot of people if they truly want success online
Thanks, Roope
Vicki

Great to hear that Vicki!

Thank you for another great blog post-Robert

It always fascinates me how some people are successful and others are not so successful.

I think one of the biggest things that brings success is hard work and consistency being the key to success. I have followed a few successful Internet marketers and I know of one man who probably makes around £1 million a year on his own. One thing that I have noticed over the years is his consistency and I also know that some things that he has tested, have not been successful. However, he does not let this hold him back, he just tries something else and keeps moving forward.

I believe that the most successful people in the world have had many failures, but the big thing is that they don't and let failure hold them back, they keep moving forward. I believe that this is a lesson for all of us.

Enjoy your day Robert and enjoy Vegas!

Roy

That's so true. Consistency and willingness to fail are really big things.

I listened to one person claiming he made 30 million a year. Sound great, then he mentioned his Facebook advertising cost $6 million. He didn't say what his other costs were, but admitted to having staff.
A lot of people talk about turn over, not left over. I had a business turning over around 1.25 million a year, but our wages were less closer to 5% of that, combined IE 2people working full time.
However I certainly agree with you, it does take time and a lot of effort to build a business.

That's also a good point.

A good thing is that the profits within the Internet marketing world are often much higher than within many other industries because . the production costs are much smaller when things are digital.

I totally agree. It is just that people tend to brag about turnover.

True. It makes a better 'success story' :D It's true that the costs should also be told if they're significant.

Thank you for your great sharing and advice, Roope!

What I can say is, it’s up to personal choice like what you have mentioned. We decide what we want to become.

To be a professional in any trade, one has to invest at least 2-5 years, or even more. I’ve seen my senior management staff, spending at least 15 to 30 years there. The managing director advised me to stay long at the company before he retired.

Take for instance, my cost management job where I spent almost 17 years(out of 24). It paid quite well and only downside was the horrible tax to pay. It was also quite stressful and tiring too. Lost of social life too. Every now and then was all about work work work!
It’s all about hard work.
Comparing to having our own business, no matter how much effort we put in, no one can take it away. Most importantly, no one can stop us from writing our own pay cheque!

Now, I’m making a switch to online business and I believe it will also have to take quite some time in order to become very successful. I’m still piling my ground in order to build a strong foundation! :o)

Thank you for sharing. It's very interesting to hear!

I think one of the keys to becoming successful at business is to learn to outsource. Because then it will make the burden easier and lighter. However, it naturally requires lots of work at the beginning so there would be capital available to do that.

Yes, you are right, Roope. Yet, I see that only company can do that, as they keep on hiring people(or outsource) to help. If one cannot help at all, that’s it! It will be a replacement of people or vendor.
For our own business, it will be good to outsource but I see an issue here. We ourselves have to know our job first before we hand it over to someone else.

I do not want people to help me to write my article or manage my website, if I myself still not good at it.

Only when I’m good at it and also getting more busy, then I’ll outsource.
At the same time, I can tell if the person or company helping me is really doing a good or awesome job. I do not want to be deceived.
Oops, sorry talk too much. Ha.

Thank you, Roope! :o)

Good points and I completely agree with you.

On one hand, we can't become good at everything and if we want to grow further, I think it is necessary to outsource things that we're not good at in order to grow.

I have to agree with you, Roope! I believe our business model outsourcing will not be a great issue. Unlike those companies out there, with a lot of outsource problems. We used to the complaints then. Ha.
Thank you, Roope! Have a great day! :o)

It's not always easy to understand why some people are more successful the others. Yes, it could be the reasons you mentioned above, but l personally believe there's more to it. If hard work, looking for new ways to grow etc., Were the key ingredients, I know I would already be wealthy.
There has to be another ingredient or two in the success recipe. Maybe it's simply opportunity, or will power. I don't really know.
Jim

Would you like to open more your reasoning?

Is there something that you did for +10 years and all the time looked for ways to grow but didn't become great at it?

Would love to hear more from you Jim.

I can only smash the button so hard, Roope! ;)

It's wise of you to ferret out those who have become great at something and find out what makes them tick.

I've won some championships at a particular game and those trophies are not worth much, nor is the prize money.

But what I could do is identify in myself what it is that makes me tick to greatness on that particular subject and how to translate that to success online.

Thanks for the inspiration from you -- it's an ongoing thing!

Thanks my friend!

Would you like to share what made you great at that subject and what is that subject?

I've also analyzed my own progress as a chess player because that's something that I became very good at. Then I've tried to think how I can apply the same to the online business things.

Yes, I'll send you a PM about it, if that's okay. I was also a pretty good chess player in my day, then moved on to a different set of games involving chess-like moves with a random element of luck as well (wargames).

I'd love to share perspectives because I'm very very interested in how you applied your chess acumen to your successes now!

thank you, Marc.

Alright!

Time and the willingness to grow sums it up pretty well, doesn't it? I certainly haven't reached all my goals yet, but am giving everything time and trying my best to all the things to help growth. Patience is another skill that you might mention.

That's true.

Les Brown says, "You must remember 3P's

Stay always

Patient
Persistent
Positive

No matter what."

aaww my new motto love it

Hi Roop,
Enjoyed your post. We also must be willing to step outside of our comfort zone and think outside of the box;)
Have a wonderful week,
Donna

That's a very good point!

Comfort is often the enemy of success. One must be willing to fail a lot when trying new things.

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