Why You're Not Successfully Self Employed - 7 Reasons
I built a niche website about online teaching that made over $30,000 from Amazon Associates over the course of it's life before China banned online teaching (thanks China) and that topic all but died off.
I've also created multiple Skillshare and Udemy courses, this blog you're on now, paid courses that people find very helpful and I'm also a top rated Fiverr seller.
No one told me to do any of this
I just had to figure it out bit by bit from free resources, products I bought (courses and ebooks) and most importantly - trying and failing.
Spencer Hawes built software tools that he sold for over a million dollars, created an Amazon FBA business selling pillows (which he later sold) and now runs a massively popular blog.
Justin Welsh used Twitter (now X) and Linked in to grow a massive email list that helps him make a million dollars a year by selling helpful products to his audience and running sponsorships on his email list.
Matt Giovanisci of Swim University built a massively popular pool and hot tub brand that includes a blog, YouTube channel, email list, social media channels, white label physical products and digital guides.
They had to do what you and I have to do.
Figure it out through trial and error.
The value of online courses, ebooks, blog posts and YouTube videos is not that it's some magic bullet - it's that it will save you years of trial and error, but the fact remains, you still need to do the work.
Why do people fail at online business
So why do so many people fail at online business?
Here is what I have observed from my 10+ years of experience of working online:
- Not taking action - Professional planners.
- Lack of consistency.
- Being an echo (copycat syndrome).
- Keeping at a losing idea for too long.
- Not being resourceful and "figuring it out."
- Cheap, unwilling to spend money and always looking for shortcuts.
- Not getting out of your comfort zone.
Not taking action - Professional planners
The most common mistake I see from beginners is simply not taking action and actually trying. It's easy to plan and say you're going to do something because then you feel like you are making progress.
But you're not.
Instead, too many beginners become professional planners. Great at planning everything out in detail - spreadsheets, mind maps, drawings etc; but not very good at doing the thing they're planning.
They plan out the design of their website, the name of their podcast, heck, maybe they even do one or two podcasts but then never pay for podcast hosting to actually launch their idea (is their a free option bro?).
It's always some complicated plan of a website, product, YouTube channel idea, podcast, domain names and associated branding for each item.
But at some point you need to stop planning and actually launch.
I'm a highly rated Fiverr seller, I've worked with people who wanted to launch a gig on Fiverr and I've literally had people not even complete their profile on Fiverr because they did not have a camera to record an introduction video or they wanted me to hand hold them through the process of setting up a gig.
What serious people do by contrast is that they launch and go through the process of trying and failing like I did and like everyone else does and then asking me for pointers to help optimize their gig performance.
Lack of consistency
Consistency is the name of the game with online business. A great example of this is how Steve Scott built a million dollar Kindle ebook business.
Do you think he just woke up one day with 80+ Kindle ebooks to his name, a high traffic website and an email list?
No, it took a consistent amount of work over the course of a few years.
Yet too many beginners get excited about starting a blog or a YouTube channel, creating an online store or launching a service, but then give up too quick by not following through properly.
The internet is awash with WordPress blogs that have 10-20 blogs posts, who's owners liked the idea of making money from a blog but not the actual work of being a publisher.
If you can't be consistent for a period of time with one business model for at least 6 months, you're never going to have success long term.
Being an echo (copycat syndrome)
BoldandDetermined.com (now defunct) was one of the most copied blogs I have ever seen in my life.
It was a personal development website for young men on the topics of weight lifting, making money, dating and personal growth.
But in the comments you would see a plethora of copycat bloggers leaving comments, or as I like to call them, echo’s of a superior blogger.
For example:
There is nothing wrong with modeling after someone because, as the saying goes, “success leaves clues.”
But being an outright copycat of someone else is never going to work because you’re always going to be a second-rate version of something better.
Instead of choosing a niche where you can add value, beginners tend to launch ideas about topics they are currently interested in but cannot provide value on.
Like, guys who watch dating content on YouTube then want to launch their own YouTube channels about dating even though they have no useful insights.
With Bold and Determined, the founder Nick Kelly was an excellent writer, he is actually big and strong and lived the life he wrote about.
Copycats modeled after him (from his WordPress theme to ripping off his blog content) but lacked the authenticity to back up their content.
Instead, choose a topic where you can actually add value
Select a topic that you know and understand better than others, one where you can share helpful insights, tips, and advice so you solve problems and pain points for you audience.
Then, build a brand around that topic that has it’s own unique style to help set you apart from what currently exists.