06 September 2008, by A. Cedilla
Many people have already discovered how to use the Internet to make a lot of money. Aside from some tech savvy, discipline and a solid plan, they have also used the power of leverage.
Leverage is defined as “using given resources in such a way that the potential positive or negative outcome is magnified and/or enhanced.”
Internet marketing lets you access a global audience. While you’ve probably read about or heard of people, like Ashley Qualls , who struck it rich from her MySpace themes business, many more people have found Internet marketing to be a frustrating experience.
They know that the money’s out there waiting to be made, but they struggle to make even a modest income, with a majority actually make a loss each month. The sales they do have don’t make up for the money or effort they spend on buying the latest e-books, purchasing private label rights or paying monthly membership fees.
One of the biggest mistakes is to think that you will get rich 1) quickly, from 2) one technique or one product.
This can happen, but it is the exception rather than the rule. Having a goal of reaching $100,000 or more a year is a reasonable goal. However, having a goal of reaching $100,000 in one step is not as reasonable.
Fortunately, there is another way to use the power of leverage. A large income does not have to come from one source. Indeed, it is probably a lot easier to generate using multiple sources of smaller amounts.
For example, there are many ways to generate $5 a day on the Internet. This may not seem very significant, but over the course of the year this would generate $1825.
Again, this may not seem very exciting. However, if you were to put in place 100 similar sources you would now be earning $500 a day. This equates to a yearly income of $182,500. See where I”m getting at with the math?
Of course, this strategy could lead to another common mistake. Many new (and not so new), internet marketers lack focus and consistency.
They follow a range of gurus and experiment with a wide variety of techniques in the search for the one elusive method that might allow them to quit their day job.
Unfortunately, if you work on 10 different jobs at the same time, it can lead to them receiving only 10% of the effort each.
An alternative is to work on one job at the time with 100% effort and bringing it to completion quickly. Think of the reward, if you were able to implement one new $5 a day strategy each week. At the end of your first year, you would have around 50 sources generating an annual income of $91,250.
You may be lucky enough to generate that one great idea, like a ˜Rubik’s Cube”, that leads to a fortune. However, a viable alternative is to work on small achievable steps that can eventually lead to a big income.
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