MLM Online Training Resource

How To Make Your First Million Online

Posted on 15. Feb, 2010 by admin in Online Training

It seems that 5% of the people on the internet marketing, make 95% of the money.  Why do so many people fail and what are the top network marketers doing that the rest are not?

First, what exactly is network marketing: it is actually not just about marketing online.  It consists of three groups of people.

1. Consumers – accomplishment is in the purchase
2. Business opportunity seekers (quasi business people) shotgun approach try to do everything. They chase lots of different programs and don’t focus on anything.
3. Entrepreneurs who are using the internet as one of their marketing vehicles or maybe their main vehicle.  They are focused on their business.  They understand business.

People who are not making it are generally in the first two categories

- 20/80 rule 20% of the people make 80% of the money
- the same people make the money in the internet marketing industry would make money in any industry whether it’s real estate, investing, or pottery.

To make your first million, there are 4 simple disciplines to follow: mindset, focus, education, and action

First Step towards making your first million online is Mindset:

The way you think defines your reality.  It defines what you get out of life.  What you believe you can achieve.

Your thoughts can make you healthy and wealthy.

Henry Ford: There are 2 kinds o f people in this world, those that think they can and those that think they can’t.  They are both right.

Donald Trump: If you going to be thinking anyway, think big.

These are the way successful people think, which also contributed to their achievements.  There is  a direct correlation.  There is a direct link between the way you think and what you actually get.

If you look at your business as a hobby, you’ll make hobby income  If you look at your business as a multinational corporation, your income will follow.

It does not matter whether your working in the corner of your bedroom.  It’s your mindset that makes the difference.

The other part of the equation is action.  Because you can sit stagnant in a corner all day, thinking “I’m going to be successful”, but without action to follow-up, nothing can happen.

Mindset is absolutely critical to the success of your business.

The second element to your first million online is Discipline.  This is where you need to discipline yourself.  Instead of being reactive, be proactive.  Know where your business is going. What do you want out of it short term and long term.  What is your exit strategy.

Exit Strategies:

1. Work it for the rest of your life.
2. Work it for 5 years and sell it.
3.  Work it for 5 years and take it public and sit as a chairman

Knowing where your business is going will allow you to set objectives, strategies, and tactics.

Objectives: What are you going to do?
Strategies: How are you going to do it?
Tactics: What are you going to do on a daily bases to accomplish your goals?

Objective: Operate a website that sells resale rights ebooks and software and generates an income of $100,000 per year.

Strategies: Buy all the resale rights products on the market and develop the most comprehensive, organized valuable resale rights website on the internet.

Market your website using SEO, article writing and tele-seminars that you podcast.

Tactics: Optimize each webpage you design.
Write 3 articles each week and post them to article directories
Conduct 2 tele-seminars and podcast them every week.

Objective is the high level overview
Strategies are a focused version of your objectives
Tactics are your daily ToDo list.

Once you have that under your belt, we can return to talk about proactive and reactive.

Proactive is making business decisions on how your business is going to run and then going precede to go out looking for products and services that can help leverage your money and time to maximize the effectiveness of your business.

Reactive is when you have no idea of what you want in a business.  You turn on your computer and everything looks great.  You buy a search engine optimization book, the latest book on blogging, join a couple of network marketing companies, and you order a 57 set DVD home study course on starting a home business.

You’re all over the board because you have no focus.  Thus you spend a lot of time, never following through on what you purchase.  Your hard drive is cluttered with stuff, but you never take the time to learn it.

Third element to making your first million online Education:

You have to educate yourself.  You need to focus on getting educated in the areas where you need expertise or at least hire people in the areas that you are going to focus your business on.

The challenge people have online is they turn on their computer, hop online and think they should be pulling in hundreds or thousands of dollars tomorrow, without having the first clue about what they are doing  Then they get disgruntled because nothing works and they quit thinking the internet is a scam.

It is similar to me waking up and deciding I am going to be a neurosurgeon.  I rent an office, get some tools, and set a sign outside my door that says, “Lawren Smith Brain Surgeon”.

The final element to your first million online is Taking Action.

This one is pretty self-explanatory.  You put things into motion.  Be as effective as you can and don’t be afraid to outsource some of the parts of your business you don’t have to do directly.

Basically, this article covers the difference between the 20% that make the 80% of the money and the other 80% that never seem to get it.

Don’t be like the 20%, get what you need Make Your First Million TODAY!

Tags: how to make your first million online, make your first million online, million online, your first million online