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Why It Is So Hard To Make Money Online

Updated on July 3, 2014
Making money online can be frustrating!
Making money online can be frustrating! | Source

Why Is It So Hard To Make Money Online

While many people might think that making money online is easy, this is not always the case. Many people who have tried building an online business have experienced how tough it is. There is no magic formula. Making money online requires ample amounts of determination and hard work. Moreover, many things need to be considered if you want to make money and become successful online.

Everything is About Competition

Most people who catch the online entrepreneurial bug are classified into two categories. The person may have an original idea and they actually think that they have stumbled into a gold mine or they have an idea that is not at all original and they are depressed because there is too much competition online.

The first group of people is delusional as they think that the lack of competition is a good sign. Before, this concept may have been true, but as the internet matures, all the profitable niches have somebody serving them. In fact, if you are not able to find any competition with the idea that you have, then there must be something wrong with that idea that you have not discovered yet.

On the other hand, the second group of people is also delusional as they think that having competition is a bad sign. These people are pessimists by nature as they assume that there is no room for them. They think that if they do try to enter the same niche, they will be crushed by their competitions who are veterans in the field.

The good thing is that this idea is not entirely true. You can still compete in any niche if you are a good marketer. Moreover, you have to take note that a crowded niche is associated with money. The truth is there is no other way to go about this but to compete. You have to develop and become a good marketer. You have to learn how you can coexist with the other marketers online. If you do not learn these things, you will never become successful online.

Comparing Job Numbers in America

Lawyers
555,770
Bloggers
452,000
Computer Programmers
394,710
CEOs
299,160
Source: Bureau of Labor Statistics

Internet Traffic Is Never Free

Free traffic is a fairy tale. Yes, it might be true that there are some techniques and strategies that you can make use of to get traffic without paying money, but this does not mean that this is actually free. You still have to purchase this, but you make use of different currency – time.

Strategies and techniques like SEO or search engine optimization, blogging and video marketing can help you get all the customers that you want without necessarily spending money to acquire them. However, you will need to invest several thousands of your time to make these strategies work.

Knowing the necessity of investing ample amounts of time in making money online can help you make good choices. If you want to see more results at a faster rate, you need to invest more time or money. It is, however, your choice on how it is going to be.

People Do Not Buy from Virtual Strangers

If you think that selling something online is easy, you are wrong. People are actually paranoid when it comes to selling stuff online. If they have not heard from you, they will automatically think that you are a scam. In fact, they will approach everything that you say with doubt.

The best thing to address this issue is to let them get to know you. You need to provide that you are a reliable businessperson. Doing this takes time. Moreover, it takes a lot of work. However, the best thing about this is that this can increase the number of people who trust you and your business. Once you earn their trust, you have to guard this as this can sustain your online business for years.

Studying hard....
Studying hard.... | Source

Becoming a Slave to the Changing Technology

The worst part of doing making money online is technology. If you want to make money online, you have to become a slave to technology. You need to learn about web hosts, domain names and FTP. In addition, you need to master hundreds of technical details. You also have to learn how these concepts interact with one another.

Oh sure, this might seem easy. However, you have to remember that it changes on a constant basis. Technology changes all the time. Thus, you will need to learn how to keep up with these changes and learn the updates on technology.

While there is an option to hire someone to do the technicalities for you at an affordable rate, this would mean that you are being dependent. In this case, if you want to put up a new website, fix something or change something, you will not be able to complete the task on your own. You will have to wait for another person to do it for you.

When it comes to making money, you will need to learn the basics so you can survive. If you do not, you will likely fail.

You Can Never Become a Millionaire

Making money online is tough. In fact, only a small percentage of entrepreneurs online become millionaires. However, this does not mean that you should quit. In fact, numerous smart and hard working individuals make a good living online. While they may not be millionaires, they can generate enough income to support their daily needs like a having a nice house, putting their children through school, and going on regular vacations.

Many of these people provide services. Some of them are information publishers. In addition, others sell physical products. These people are like business owners and they get most of their customers online. While instant success is not assured when it comes to making money online, it is possible to do so, provided that you know what to do and learn the basics of making money online. Once you have set up your niche, you can start nurturing it. Eventually, you will be able to see good results with your determination and hard work.

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    • Nabil Ansari profile image

      Nabil Ansari 

      4 years ago from Mumbai, India

      This pretty much explains my whole 'earning money through internet' journey. Useful article for someone who is just planning to start venturing into the web.

    • Philip Borrowman profile imageAUTHOR

      Philip Borrowman 

      4 years ago from Aviemore

      I agree. Content is king and keep writing. Write write and write some more, that's what I try to do.

    • adrienne2 profile image

      Adrienne F Manson 

      4 years ago from Atlanta

      Excellent hub Philip, and so very true. My biggest challenge is keeping up with the constant changes with technology. That is my stone wall to making money online. To me writing is one of the better ways to making money online and working with selling on eBay. Thanks so much for a great article.

    • MPG Narratives profile image

      Marie Giunta 

      4 years ago from Sydney, Australia

      Great tips here Philip Borrowman. Writing online is a business just like any other business but the best part is that you're the boss. I like the fact that I can write when I want and there is no boss looking over my shoulder and pressuring me to meet a deadline. There is competition everywhere so if you persist and find a niche, online work can be rewarding. Good hub, voted up, useful and shared.

    • Philip Borrowman profile imageAUTHOR

      Philip Borrowman 

      4 years ago from Aviemore

      Ha! Yep, very true Rustedmemory. I also have a guitar somewhere but alas never did get around to learning anything on it. Funny that!

    • rustedmemory profile image

      David Hamilton 

      4 years ago from Lexington, KY

      Just like everyone can play guitar, everyone has a blog!

    • Treasuresofheaven profile image

      Sima Ballinger 

      4 years ago from Michigan

      You've listed the hard cold facts about making money online. Marketing is one if the keys to making money online. Thanks for sharing your insight and thoughts.

    • RonElFran profile image

      Ronald E Franklin 

      4 years ago from Mechanicsburg, PA

      Good encouragement for people who want to make significant money online. I have to say, however, that I'm not one of them. Not that I'm adverse to making money. It's just that I'd rather it be the by-product and not the purpose of my writing.

    • NateB11 profile image

      Nathan Bernardo 

      4 years ago from California, United States of America

      You're right about it taking time and you learn to be economical with time, that's for sure. Have to efficiently direct your efforts.

    • Torrs13 profile image

      Tori Canonge 

      4 years ago from North Carolina

      It's definitely hard work to make money online, but I agree that you shouldn't let a little competition stop you from giving it a shot. I like that you were realistic in this hub!

    • Philip Borrowman profile imageAUTHOR

      Philip Borrowman 

      4 years ago from Aviemore

      The Internet is a crazy place that's for sure. The thing I like about making money online is that you are doing it for yourself. You are not bound by the rules of a tyrant boss or silly insurance company "guide lines"

      You can do as you wish when you wish and when/if you do succeed it is so rewarding.

    • CrisSp profile image

      CrisSp 

      4 years ago from Sky Is The Limit Adventure

      Good, informative hub. I wish it is that easy really to make online money but hey, it isn't easy living or making a living off line too. :)

      Well, this is a great read. I never knew about the statistics that bloggers ranked after the lawyers. That's very interesting.

    • Philip Borrowman profile imageAUTHOR

      Philip Borrowman 

      4 years ago from Aviemore

      Thank you! Glad you enjoyed my hub. Will keep writing and writing like you said. lol! Thanks again. Appreciated.

    • janshares profile image

      Janis Leslie Evans 

      4 years ago from Washington, DC

      Very informative and down-to earth info about the realities of becoming successful with an online business. You've offered a well-written piece to those who are considering the internet as an avenue for a lucrative business. Your points apply to all types of business ventures, even to us as online writers. Voted up and useful, and shared.

    • Philip Borrowman profile imageAUTHOR

      Philip Borrowman 

      4 years ago from Aviemore

      Yep. America seems to be crazy about blogging! Online business is very tough but I love it. So much fun when you see some results and the buzz of making a sale never gets old in my book.

      Thank you for comment Sunardi, appreciate it. Just started here at Hubpages and I am loving it so far.

    • Sunardi profile image

      Sunardi 

      4 years ago from Indonesia

      Very useful hub, Philip. I was stumbled on internet business in 2009 when my friend in writing organization invited me to join seminar of making money online. That was the first time I began to learn online business.

      Online business is tough. It's true, but no need to quit. I make money by selling product online on my blog. And, nice info that in America Bloggers is number two. It makes me more spirit to succeed in online business.

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