It’s a sobering fact that the vast majority of internet marketing wannabees are unsuccessful in their quest for success. Compare the 95% failure rate with data from traditional businesses – seven out of ten new employer establishments survive at least two years and 51 percent survive at least five years (source: the Small Business Administration).
Why should there be such a huge difference? When all other causes are stripped away, the major reason could be the level of financial commitment and investment. Contrast the $500 approximate figure to start an online business with the $112,500 needed to see a traditional business over the first six months. Guess who’s more committed to their business?
It’s relatively easy to walk away with a $500 loss when the going gets tough. After all, how many of the internet marketing ‘gurus’ honestly tell you about the level of time and effort commitment required. You pay for their cheap product, the promised support isn’t forthcoming, so why not move on to the next bright new shiny thing?
The bigger your investment, the more sustained your commitment. There is an obvious and direct correlation here, and one that many would-be internet marketers seem not to understand. The majority will continue to pursue their dream by purchasing ‘cheap’ training products, and will continue to be disappointed and fail to make the necessary effort.
I know I’m not alone in my thoughts here. Recently I had the opportunity to interview Neil Stafford of the Internet Marketing Review, and in response to my question about the 95% failure rate he also emphasised the need to avoid jumping from one idea to the next.
So do your homework and research. Avoid making any investments until you find a scheme that offers a quality product and in-depth training. When you’re confident that you’ve found the most suitable scheme then make the necessary financial investment and then commit yourself to the necessary time and effort.
Avoid being one of the 95% – choose your pathway wisely and be one of the successful 5%!
“Desire is the key to motivation, but it’s determination and commitment to an unrelenting pursuit of your goal – a commitment to excellence – that will enable you to attain the success you seek.”
Keep dreaming big dreams!
p.s. To listen to more of my exclusive interview with Neil Stafford, why not sign-up to receive the complete free recording and transcript? Just leave your details in the boxes on the right-hand side of this page.