There are some virtual storm clouds brewing at the Money Gym. Judith and I came the closest we have ever been to a row the other day at our board meeting while talking about me re-writing my book for 2009 and beyond, and the topic was the same old recurring theme of Internet Marketing – Is It The Emperor’s New Clothes?
This topic has also been rumbling around our Money Gym Mastermind Google Group as Marion Ryan (one of our Money Gym coaches and no slouch at making money online herself with her Rockin’ Blogging service) asked “Is anyone out there making any real money with affiliate marketing?”
Just to clarify, when we are talking about Internet Marketing, we are not talking about “Marketing Your Business Online” which all of us at The Money Gym totally love, do effortlessly and succeed in all day every day, but “Internet Marketing” as defined as the ability to create automated flows of passive income from selling information products (your own or someone else’s) online without having to deliver a service, workshops, coaching, all those things that involve you actually doing something and turning up for work in the real world.
Judith says “Internet Marketing simply isn’t viable and perhaps all the gurus are selling a dream, albeit one that we all want. We cannot point to any single success story within the Money Gym community, including ourselves as principals of the business, and that that simply isn’t good enough for our clients, they deserve better. We are not in authenticity and even worse, we could be misleading our clients”.
Although Tim Ferris’ “4 Hour Work Week” book is one of her all time favourites, and leans heavily on his passive income made online by selling a product, Judith feels very strongly that when I re-write OUR book I should not imply that you can make millions online very easily. That I should be more realistic and not hang out the internet dream in the book as, in her opinion, there is no real evidence in our circle that it works. She considers that we might even remove it as a separate Lane Of The Wealth Highway in our teachings in the Money Gym coaching programme , including it instead only as part of our business module.
I passionately believe the opposite and I say it does work because I know a LOT of people – met at many seminars over the years – who make their living like that. And a very good living – defined by me as more than £5000 or $10,000 per month upwards to the “millions a year” merchants.
I believe they earn that because of the lifestyles they lead, the fact that they are able to afford to go to all the seminars, cruises, the Maverick Adventures all around the world, the houses they live in, the cars they drive and that they never seem short of cash.
Judith’s logic asks: “well, if it works, how come specifically none of our Money Gym clients while able to become wealthy, even millionaires, through the other lanes of the Wealth Highway, have ever yet managed to become an internet millionaire or even make any meaningful recurring passive sums of money working online? If you yourself, Nicola, have been – to use your own words – diddling about online since before God was a lad, how come you are not one of the internet millionaires living the life you describe above?”
I say, because none of us ever do it right. We never keep it simple and “just follow the bloody instructions” to quote Frank Kern.
Actually it’s very rare that any of us simply just do it.
Last year, we hosted a 90-day Money Gym Internet Challenge, where our clients were supposed to define their internet goals and then, with our support, achieve them in 90 days.
Some set goals to finish their ebook, some set goals to make their first $10 online, some set goals like “get my first 100 subscribers to my ezine list” and I really did my best to help them keep it real, set realistic goals and then work out how they were going to achieve them.
We were supposed to post up our goals for each day, actions taken and achievements to a special Focus Day google group we set up.
So, did anyone do that?
Some, for a while.
Did even one person finish the challenge or achieve their goals set?
What went wrong? Well, I always say that the difference between success or failure is more about what you don’t do, than what you do do.
They didn’t get focused, didn’t take consistent action, they got discouraged, they just gave up. Sometimes life just got in the way.
Just think for a moment about one of your goals, one that you constantly fail in achieving. Think about the one single thing, that if you did it, would absolutely guarantee success. Now think about why you don’t do and why you don’t do that thing.
But I’m getting distracted here…one of my issues with my own internet marketing success by the way.
Tracy Repchuk talks about the fact that 92% of people who go to internet marketing seminars will NEVER succeed and it’s true. They will buy more and more stuff, hoping for the magic wand, the secret key….hang on, this is sounding just like the people who go to property investment seminars, business building seminars, stockmarket trading seminars. It’s sounding like wealth creation in general.
Tracy also talks about the importance of getting focused in her excellent best selling book “31 Days To Millionaire Marketing Miracles” which, incidentally, was written in days and took just 58 days to become an Amazon best seller. Focus works and she’s demonstrated that. But Tracy Repchuk was a successful business person before she discovered internet marketing and lots of the gurus were too. Judith would say this just proves her point; “Tracy is selling more information on how to do it rather than just selling something online like Tim Ferris for example!”
So is it possible for ordinary people to create a passive income online? Or are they wasting their time, chasing a dream?
The Money Gym Internet Challenge wasn’t a total waste of all our time because, a year later, some are just getting to the point of finishing their ebooks, have websites up online and have mailing lists and some even have membership sites.
But hardly anyone is “just following the bloody instructions” and getting on with it, step by step.
Read Part 2 Here >>>