There’s an old saying … “When a man with money meets a man with experience, the man with the experience gets the money, and the man with the money gets the experience”. If you are dabbing around in Internet marketing then make sure you know which one of these men you are, so that you can be better prepared for the probable outcome.
History is full of examples where the public furor over the latest money craze leads people to do stupid illogical things and 99.9% of them become victims of the greater fool theory. The greater fool theory can be seen at work on Wall Street where a good story can push the value of a stock up as people rush in to buy more and more of it, and then the traders cash out with the big bucks before everybody catches on.
The gold is never as easy to reach as it seems. Life doesn’t work that way for most of us. Oh yes, there are occasions like the Yukon gold rush where the gold could literally be picked up out of the streams … but most people that made fortunes in the Yukon sold the miners things they needed to do the prospecting with … and that was the real gold mine.
If the Internet of today and the massive audience it reaches can be thought of as a gold mine, then one has to be very careful, because a lot of people are out there selling tools and maps to riches for the newbies to follow.
If you are going to prospect on the Internet here are some tips I’ve learned the hard way.
- Evaluate your skills before you start. You better like to read … a lot. Working in this digital landscape to make money requires an intricate combination of business, finance, and marketing smarts as well as computer skills. Did i mention the ability to THINK? These will at least get you started.
- There’s a lot of snake oil salesmen out there trying to sell you software, or ebooks, or videos, or seminars, or other training thingys that aren’t likely to work. Have your head screwed on straight at all times, keep your hands off the credit card, and crank up your b.s. detector to max when listening to their sales pitches.
- You need good research and decision making skills. Once you do your due diligence, don’t procrastinate. You have to jump in and get your clothes dirty. It’s the only way to learn how the thing really works.
- Know that this isn’t going to be a slam dunk with a large pot of gold at the end of the rainbow. It can be … but don’t risk your family’s future in the process. You will have to be very persistent to succeed. This can’t be your hobby. It requires continuous learning and very hard work.
- You need to be part of a mentors group to get started. Going to a seminar is a good way to meet people, find some you like, and form a mentor ship group with them. There’s also a very good discussion group online at http://www.bmyers.com