3 Utterly Bizarre Misconceptions About Making Money Online

On last Friday, one of our members posted a pretty bizarre message in our Facebook group that tells the story of how so many people misunderstand what it really means to make money from home. I'll share with you what they said in a moment. In the meantime, I'd like to talk very frankly about what may be your thoughts about making money from home, and whether those thoughts will help or hurt you.

As a coach, I often cringe at some of the things that people say about their “make money from home” beliefs, and it shows me two key things:

1. Most people have formulated opinions and conclusions about a home based business that will cause them great frustration

2. Frustration leads to anger, and that anger will lead to them leaving the home based business industry with a bad taste in their mouth

I remember when I first joined the home based business industry at the age of 19. A mortgage broker attempted to introduce me to my first home based business in the conference room at my job. As he began to get into his presentation, my boss at the time burst into the room and threw the guy out. I was horrified and afraid for my job. It turned out that my boss was involved in the very same opportunity that this guy was pitching to me, but he'd never shared it with me. Later that week, I came to a business meeting at our office. Upon seeing “circles” drawn on a white board, I became mesmerized by the potential and, after borrowing the enrollment fee from my boss, I joined this amazing home based business industry.

For nearly 10 years I struggled to make any money in that opportunity. In that stretch of time I never made more than $500 in any one month. Depressing, right? It wasn't until I hit my mid-thirties and started working with a mentor that I began to see where some of my challenges came from. The bulk of my problem is the same as the guy who posted in our group.

He said, “I've been in Legendary Marketer for about a month now, and I still haven't made any money. Showing people this thing, and they aren't signing up. I'm doing everything that I'm being told to do, AND ITS STILL NOT WORKING. What am I doing wrong?”

This is a very common complaint, and its unfortunate that many people feel this same way. So, here are 3 misconceptions about making money online that have to be addressed before you can ever make any real money.

MISCONCEPTION #1: “Making money online is quick and easy to do”

The home based business industry has a lot of blame here. The constant promotion of “easy steps” and overuse of terms like “simple,” “effortless,” “quick,” and others perpetuates this faulty belief. It is “easy” once you do the work to learn the basics and master them. However, its painful to make changes in any aspect of life. Learning a new skill like marketing online is not exempt. As it relates to “quick,” that a matter of personal opinion. Entrepreneurs who understand business don't focus on “quick.” That's an expectation that will deplete your energy. Don't put a 2-week paycheck expectation on a business opportunity. It's apples and oranges.

MISCONCEPTION #2: “Working part-time from home will make a full-time income”

Have you ever heard this one before? I hate to admit it, but I've actually said this many times with full belief that it was true. Of course, I did this during the time when I still had a full-time job and I just trusted this to be true. To be clear, you don't need to work “full time” in the same manner you would on a typical 9-to-5 job to be successful. However, a full-time effort is absolutely required to create the leverage necessary to have the option to work “part time.” In other words, you have to build a system that works for you when you are not “working.” Until then, you'll need to do EVERYTHING (i.e., marketing, lead generation, list building, etc.). David Sharpe, CEO of Legendary Marketer, doesn't work “part time.” All of the great and successful online entrepreneurs I know work “full time” even though they could technically work “part time.” In the beginning, you will most likely sacrifice time away from things that matter to you in order to get things working, or to educate yourself well enough to take actions that yield results. This isn't a negative. The good news is, some day you'll have the CHOICE to pick whatever schedule you want, but not in the beginning. Get your head out of the clouds!

MISCONCEPTIONS #3 “Making money from home can be done with no investment”

NOT! This one right here is really misleading and gets a lot of people into trouble. This belief is usually centered around the marketing of the business opportunity. I'll speak to this in a moment. At the very least, you need to invest in quality training in order to understand what you need to do to get things to work. You can't expect to build a solid knowledge base googling everything, or searching all day on Youtube. Most of the time that stuff is fragmented or just enough information to get you taking action. What happens when you run into the gaps in your understanding or have questions? Help costs money. Also, if you are signing up for “free” or low cost opportunities, you'll soon realize that sooner or later SOMEBODY has to spend money for YOU to make money. If not, its probably not a legitimate opportunity. There is an exception to this rule of “no investment” (assuming you are involved in a legitimate opportunity) and its surrounding the idea of free marketing. If you are going to work a “free” marketing strategy, get ready to wait a LONG time to get a return because its not quick. Also it will require a ton of your personal time. This doesn't mean you shouldn't try these strategies. I'm just bringing you to a more realistic perspective about what it will take to get results.

In the Legendary Marketer's membership area, we have a lot of training on how to work in a home based business and get real results, whether you use our affiliate program or not.

I want you to get the success you dream about, but you can't do it in a cloud of fantasy beliefs. Millions of good people have been able to use the work at home industry to leave their jobs and live their dreams. That much is completely true. In order for you to join them, someone has to tell you the truth from the beginning with no B.S. We can help you. Just reach out to us and we'll be there for you. For now, grab a free copy of our book to get started.

Go Forth In Victory,

Larry Beacham (Coach Larry)
Dir. Of Training

CHECK OUT OUR DAILY MOTIVATION AND MINDSET SERIES

13 replies
  1. Ryan
    Ryan says:

    Good stuff guys, especially #3… also it’s awesome that members can append ids and use this blog content for lead magnets and in follow ups…(loading this one up in my autoresponder now)

    Reply
  2. Ema
    Ema says:

    Let’s Respect the People Who are Helping Us to be Successful in Our Business, We need to be Patient, Positive and most of All be Cooperative and Responsible for Our Actions, I always Inspired of the Hardwork of The Entire LM Family, and I will Never Give Up Until I Succed…

    Reply
  3. Stha
    Stha says:

    Thank you Larry for this info. Very important. I have just recently joined and still undergoing training. But I just wanna ask guys. I am in South Africa. Is this opportunity open to our country as well? Is it world wide?

    Reply
  4. Fred "The Submarine Guy" Raley
    Fred "The Submarine Guy" Raley says:

    Well stated Larry. Man, if we could just consider this point a “given”, there would not be much else to learn about being successful in a HBB.

    It is hard to get past all the “Easy Button” hype out there when you don’t know any better. But if folks just used some logic, it would pop right out at them that it can’t be THAT easy!

    Reply

Trackbacks & Pingbacks

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply

Your email address will not be published. Required fields are marked *