If you are considering a work from home career, you are probably wondering a key question. How long will it actually take you to start making money? I am sure you have seen hundreds – okay – maybe thousands of posts that offer training for a successful blog career in one month. I have even seen posts offering advice for making money in your first week. Truly, anyone going into Internet marketing wants to know how long it will take. The main thing we all want to know is the magic answer to this underlying question, “How long will it be until I start making steady money?”
Time to profit varies greatly
The simple answer is that the time it takes to start making money is different for every person. This largely depends upon your idea of success. But, many other factors can determine how long it takes for you to start making a steady income. In reality, you might be able to see your first sale the very first week that you’re in business as a marketer. Unfortunately, on the flip side of that fast “first week sale,” you could struggle all year long before you ever see the first dime for all of your efforts.
Factors for making money quickly
What are some critical factors that make a difference between making profits faster instead of having to wait? One of the factors could be the way you have set up the business – the model that you use in your strategy for success. If interested in Internet marketing, you have a selection of many types of businesses that you could build. For example, are you considering making and selling products online through something like e-Bay or Craigslist? Are you interested in Affiliate Marketing where you sell others’ products through a website or blog? Is freelancing a consideration for you? Today, making profit from YouTube videos is another consideration.
When considering what you are going to do can largely determine how quickly you will begin making money. Taking the route of a service provider, like ghostwriting, could mean profits in a shorter amount of time. Alternatively, launching your own info product requires planning, research, product creation, site launch, and traffic building. This will take longer for you to begin making money.
The different types of businesses require different times for starting up and developing followers – or an audience. Unless you are already well-known, you are likely going to have to spend time getting your name and brand out there. Others have to become familiar with you and what you have to offer – and quite simply, this takes time.
How much time do you have for the business?
Another factor that determines how long it will take you to succeed is the amount of time you have to spend building your business. Obviously, the more time you have to work the business, the faster you will reach each goal you set for your monetary success. If you are working to build your business on the side, and only have a few hours to spend each week, then it will take you longer. On the other hand, if you are working your business 40 hours or plus per week, then you will progress faster.
Background Internet skills
Another factor to consider that is related to time spent in building your business, is your level of knowledge as you begin to build your business. With any Internet business, the learning curve is HUGE. Unless you are already an Internet marketer, then there is a lot of stuff you have to learn. Just the terminology alone can be confusing. For example – all the initials are important to know and to understand. You will need to learn about SEO, PPC, KPI, CPI, CTR, CTA, DA, blah, blah, blah. Then there are other terms you will see bandied about like bounce rate, engagement rate, affiliate marketing, algorithm, etc., etc. and etc. One site I ran across defines the 165 must-know marketing terms to start a business online.
Seriously – you have to learn 165 terms to be successful? Well, not really – but in the course of building your business, you will probably eventually need to understand most if not all of them. But, the point is – how much you ALREADY know about all of this can determine how long it will take you to become successful. If you already have a background knowledge of these concepts, you will be able to be up and running faster. If you have to learn to use these concepts, you may take longer to become profitable.
Having said this, time to profit can depend upon how quickly you can put into practice each step to set up your business. Some of these steps might take YOU longer than it does someone who already has a background in Internet business.
Background technology skills
In addition to learning a lot of complex terminology, having an online business generally requires a level of technical skill. You will generally need to know how to or learn about building a website or blog. Also, you will probably need to know something about graphics so that you optimize your photos. If you are marketing your own products, you might need to learn about photography or videotaping. There are a number of tools that are available for streamlining your business. These tools will need to be learned. While there are an abundance of tutorials out there on how to do all of this, it will nevertheless take time to learn if you do not already have the skills.
In addition, you will need to understand how to apply all those marketing terms that are a part of Internet and marketing. Also, you will need some skills on using social media tools to market your business. Learning how to use Pinterest, Twitter, FaceBook, Instagram and others is a critical component of marketing your business. Thus, it will take time to set all of this up and learn how to use the tools.
Hiring others to do the technology for you
Obviously, there are companies out there who can do all the technical stuff for you. There are also courses that can train you to get started sooner. The advantage to this is that you can get up and running much faster. The disadvantage is that using someone else to build your business will take more money.
Most who start their online businesses find a balance between doing everything themselves and hiring someone else to help. Most realize that while beginning an online business can be done with little or no money, finding a way to invest money in the business will really pay off. When you in your business, you are likely to grow faster and become profitable more quickly.
Should I start an online business?
OK. So, without a doubt, there is quite a bit that goes into building an online business. Because of this, there can be a huge variance in how much time it will take you to start making a steady income. In deciding whether you want to build an online business take a look at your personal situation. How much time can you invest in working on your business? And, how much money can you invest in building your business?
Then, ask yourself this. How much money do you need to make right this second? If you’re desperate for money immediately, it might be best to get a job now. While you work and have an income coming in, you can build your online income gradually.
Slow and steady can avoid problems
Desperation for money can cause you to panic and make mistakes. Even worse, it can encourage you to pursue unethical income streams. This is something that you definitely want to avoid. When working to build an online business, you want to work on something that will prove profitable for the long haul. You definitely want to avoid building something that may help you make a few bucks fast – but soils your reputation in the meantime.
Thus, don’t trust marketers who guarantee you will make a set dollar amount in a certain time span. Without knowing your situation, it is really impossible for them to make such claims. Be very wary of them. On the other hand, building an online business to success will take you as long as it needs to take. Building it is largely dependent upon the hours per day you can spend – and the total hours you are willing to put into your business.
One of the most important things to remember: Quitting will be the largest determination of your failure – not time. Although it might seem to go without saying – don’t quit. Decide that you will keep going until you are successful. Don’t compare yourself to others who say they made tons of money their first month. Compare yourself only to yourself.
How to move toward success
Instead of comparing yourself to others, do this analysis. Ask yourself this. How much more do YOU know now than YOU knew yesterday? What have YOU learned since you started your online business? What else do you need to learn to become successful? What else do you need to do to build your online business?
While it is okay – in fact, recommended – that you set your own goals for success, you also want to realize that you may not meet those goals. And that is totally okay. Because if you don’t give up, you can realign your goals to move forward. In the end, it does not matter whether it took you one month, six months or two years to be profitable. When you reach your goal, you will find that you will want to set new goals and continue to move forward.
Your journey belongs to you
While I totally agree that it is exciting to read all those articles about being an overnight success, they can also set you up for failure. Too often, someone begins an online business, expecting to be profitable the first month. Then, at the end of the month, not meeting the goal, they quit. So, instead, your journey in building your online business is your unique journey. You have your own skills, your own time to invest in your business and your very own determination to succeed.
It is important for you to look at the time you spend – making advancements and making mistakes – much like Thomas Edison did when he was trying to create the light bulb. A reporter asked him how he handled his failure in discovering a light bulb that worked to which he replied, “I have not failed 10,000 times. I have not failed once. I have succeeded in proving that those 10,000 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.”
Whether it takes 10,000 tries or 10,000 days, simply continue your journey until you find success and profit online. It does not matter exactly how long it takes for you to become profitable. What matters is that you keep going, keep learning and keep doing. You can do this!
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