Plan Time for Success
This is one of the key actions you need to take in building your online income. Right at the beginning of our training, Kyle asks us how much time we can contribute to our success. Once you make that commitment, you need to plan how to use that time.
Plan Time for Work
If you don't have a current income, you will need to get some cash coming in right away, so that you can support yourself while you learn and grow your business. If you already have a job or business, you need to plan the hours you spend there, and how much you can afford for building an income online.
One personal decision I had to make: I actually reduced the number of hours I was working, and therefore reduced my overall income, so I could focus on Wealthy Affiliate. Consider this very carefully before you make any decisions.
Wealthy Affiliate
The very first step is to complete the basic training and tasks at Wealthy Affiliate. If you don't have premium yet, you will want to do so as soon as you can!
The basic training modules will not only help you build websites that make money, they will also teach you the skills you need to truly diversify your income. Not only that, but your online assets (websites, social media followings, email databases etc) will eventually be assets you can sell for profit!
Online Selling
Whether buying and selling products or drop shipping via eBay or your own online store, the WA training will help you. A lot. If you've never been an online seller, this earning method will need it's own set of training - more on that later.
Freelancing
You will be amazed at how many of your existing skills are needed by someone on the internet. However, you will find the skills you learn at WA will give you a lot more earning power!
Other "Opportunities"
There are a lot of tempting offers out there, promising "work from home" or "quick online cash" opportunities. Many include MLM or stock trading systems, or even outright scams. Be very careful out there. None of these have worked for me.
Reply
Glad you found this helpful!
Love how you wrote from your own experience. I see that you have a very specific plan of action and it's interesting to learn how you diversify your income streams.
Personally, I found it better to focus on one specific strategy such as targeting low-competitive keywords and building my knowledge upon it.
I still have a long way to go, and can relate when you said that the hardest thing is when you put in loads of efforts yet didn't make enough money. Building an online business is easy in that you don't have a huge overhead cost, that said, you need great self-motivation to succeed.
I'm curious, what is the biggest lesson you've learnt from making money online?
Thanks for sharing!
Cheers,
Anh
This led to me finding and joining WA, and eventually completely replacing my income.
From all of this, my major lesson has been:
Take the plunge carefully. Don't keep all your eggs in one basket! Make sure you have multiple options - some that provide a base income, others that you can build over time.
I hope it helps!
Thanks for sharing your story. It's admirable that you took the plunge to diversify your income.
I found your answer very helpful since I am also in a position where I'm both working a full-time job and keeping my online business a side project. It not only helps me keep a healthy base income but also a good "distraction" of some sort from working on my computer alone all day.
It's probably not what we usually hear about "taking the plunge", as in you've gotta risk it all. I believe that life is more complex than that, and sometimes it's better to play it safe.
Stay awesome,
Anh
I really have to check myself when people ask in discussion, quite frequently, when will I make money. I check their profile and they are on day 2.
That's on me not them. It took me 7 months to get my first referral and 9 months to get my first sale.
I agree, the hardest part is when you have been working hours per day and you are on month 4 or 5 or 6 and nothing. The best advice here in my opinion here is:
Get back to it. Just keep going. Nice write up JessHop. When I feel my irritation starting I will link people to this article.
Barry
I am one of those who took longer to make my first sale. I only earned my first dollar after 4 months. And only a few more in the months afterwards because I made a mistake in not having specific monetization strategy.
"Keep going" is definitively the best thing you can do when building an online business. It's hard to swallow at first, but you truly need to make mistakes to succeed.
This reminds me of something Charles Ngo said:
"Want to succeed faster? Fail twice as fast. How do you fail twice as fast? Teams and systems."
How is your business doing?
Thanks for sharing!
Cheers,
Anh
