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February 5th, 2009
3 min read
Every now and then, I feel the burning need to opine on the topic of mindset. In reading visitor feedback and talking to others, I see that some people just have the wrong focus when it comes to building up an online business. And if you are doing this, you might be making it an uphill fight for yourself.
How many hours did it take for your tech site to earn revenue. I know it takes time (i.e. days), but how much high-focused work did you put in before you began seeing money (profit)?
I’m going to be completely honest. This question is the wrong one.
There seems to be an idea out there that time is directly proportional to money. If you want to make more money, the only answer is to put in more time. And that in order to start making money, it is a matter of executing certain steps, waiting for a certain amount of time, then money starts to flow.
My wife also busts my balls about this. I have tried to get her interested in internet business. I try to explain to her the sheer potential of it. But, it remains fruitless. She cannot seem to get out of the template of “time for money”. She asks me how long it will take before she starts making money? She tells me she doesn’t want to have to work 60 hours per week. She tells me that the only reason I am successful is because I bust ass.
Perhaps I am just a contrarian, but I see this as a result of an employee mindset. An employee is used to just showing up for work, serving their time, then going home. The paycheck arrives on schedule. And you might even get health insurance and a 401K while you’re at it. All is well.
Outside of being an employee, though, the world doesn’t work like that.
There is a security blanket to being an employee. Personally, I think it is a make-believe security blanket, but mentally it is there. But, when you go into business for yourself, there aren’t any guarantees.
I have gotten successful on the Internet, but it doesn’t mean I followed a template nor served my time. The way I developed is not necessarily the way others do. It also doesn’t mean I did everything right. There are several people I can point to out there who make more money than I do in this business and yet have been at it for less time than I.
So, it isn’t a matter of how many days I worked. Or years. It is a matter of working smart.
I love my wife dearly, but the unfortunate fact is that she has the mindset of most people. She wants guarantees. She wants to know that if she starts a business, that she can follow certain steps, serve her time, and KNOW that money will begin to arrive. And she wants to know exactly how much money it will be. The cold reality is this: That doesn’t exist!
Well, it does. Its called being an employee and punching your time card in the morning.
With the great rewards and potential money of an internet business also comes the risks of failure. I have failed more times than I’ve succeeded. I have made strategic moves that I look back on now as stupid. I now know things that could have saved me a lot of time if I was doing it earlier. That’s part of developing as an entrepreneur.
So, to answer the primary question: The answer depends on you. There is no checklist for success. People like myself who have found some success can help, but we cannot guarantee anything.
My advice would be to think about working smarter, not longer. If you focus on action and not time served, you will find the results you’re looking for.