Think for yourself
The sooner a new marketer starts thinking for himself the better. Internet marketing can be a minefield! Especially if you are not critical and don’t ask lots of questions.
You can buy a website on eBay for under $10. Very often when you read the item description you get comments such as “Earn $10,000 every month…” or “Easily make $500 a day by simply selling…” What rubbish! Why would anyone sell a website for $10 if he can “easily” make $500 a day from it!
I have even seen some very experienced marketers sell cookie-cutter websites. They promise to give you an identical copy of a website they have been using that has been making them lots of money. I am surprised how many people fall for this! Once again, think about it logically. Your cookie-cutter website will probably never rank well in the search engines meaning you will not get natural or organic search engine traffic. You will have to spend a lot of time (and often money as well) promoting and advertising the site. What may seem like an incredibly generous offer may turn out to be a real dud.
A word of caution: By thinking logically, being skeptical and questioning everything, you need to guard against being too pessimistic or negative. There are many genuine opportunities available on the internet. Keep an open mind. But don’t accept everything you are told at face value.
Risk vs. Return
I have often heard people say that risk equals return. In other words, the higher the risk the higher the potential return. This is often true in the financial markets but remains an oversimplification in the internet marketing world. There is no such thing that you have to take huge risks if you want huge returns. The key is to manage your risk. How? By knowing what you are doing.
Warren Buffet has built up quite a reputation as an expert investor. He has made billions of dollars on the stock market while many other investors have lost money. What makes him special? He knows what he is doing. While many people don’t invest on the stock market, thinking that it is too risky, an investor like Warren Buffet knows how to manage risk.
As far as I am concerned, investing in anything without sufficient knowledge and without managing risk is gambling. Pure and simple.
Talking about gambling… Never act out of desperation! Especially not when it comes to internet marketing. In fact, I sometimes think that many desperate people view internet marketing in the same light as gambling. I can’t tell you how many times I have come across statements such as “Help. I am desperate for money. Please tell me how to make money quickly”. My advice to these people is to get a job or even a second job. Not having the right mindset about internet marketing will often cost them dearly. The risk of failing when you act out of desperation is simply too high.
It is sad that some unscrupulous marketers will deliberately exploit desperate people by giving them false hope. What is even worse is that many of these unscrupulous marketers often only make money by tricking other people. For example, they sell people a book on how to make $10,000 per month although they have never made $10,000 per month themselves.
Risk in business is a given. Running a business is all about managing risk, not avoiding risk. This also applies to internet marketing. Well to learn how to make money online and manage the risk you should read an awesome article written by Briana Booker on New Theory. Risk cannot and should not be avoided but must be managed. However, you will find that as you gain more knowledge and experience in internet marketing that you will be able to manage risk better all the time.