Internet Money-Making Systems Explained – Some Tips For Success As An Online Entrepreneur

If you are reading this article chances are you’re looking for an education on how these internet money-making systems work so that you can become successful as an online entrepreneur.

Information Overload and Distractions

One of the main reasons why you as a potential online entrepreneur may fail when starting an online business is due to a factor called distractions. This is the problem – you are trying to start an online business working from home on your computer. The very platform on which you are planning to market your business – the internet – is the very thing that is going to give you the biggest problem. Alright, so what do I mean by that? It sounds a bit confusing doesn’t it?

Let me explain. The nature of the internet is such that, you as a future online entrepreneur, have so much information available from it. There are so many methods by which you can make money online using the internet money-making systems that many online marketers employ. As you begin your journey in this exciting field you will be faced with so much information from the internet and the people who market through it. It will not be long before you discover that you can sign up and receive free special reports, videos and audios delivered so conveniently to your email inbox. It will not be long before you will suffer with an condition that has been coined “information overload.”

All this information will distract your endeavors to become an online entrepreneur and you will find that your attention is being spread too thinly over a large number of areas. The solution is to focus on one internet money-making system totally and completely and learn all you can so that you understand exactly what you are doing. So many newcomers to the internet dabble in areas where they do not have the understanding and consequently things do not work out for them.

Learn And Understand New Skills

As you begin your journey towards being a successful online entrepreneur you need to understand that there is no quick shortcut to making money online. There is no magic button which you can click a few times to make money on the internet. Accept and give yourself the time to understand and learn the new skills necessary for achieving success with your internet money-making ventures. Just as you took lessons to learn to drive a vehicle, so will you need to get an education on how to build an online business. All skills are learnable, so just be patient and learn everything you need to know step by step. An excellent way to learn all about internet money-making systems is to sign up with a good mentor or coach who has already trodden the path you wish to take.

Change Your Thinking Habits

The famous personal development expert Earl Nightingale once said “We become what we think about, most of the time!” If you are really serious about creating your own empire online then you need to listen to Earl’s audio called The Strangest Secret. In it he gives advice about how to become successful by setting a goal for ourselves and making a plan to achieve it. Think positively about your goal and what you are going to do to get there. Decide to change your thinking habits and not allow any negative thoughts. If you can control your thoughts you can control what you ultimately become.

Keep in mind these three tips as you begin your understanding of and education in internet money-making systems.

How to Coach an Entrepreneur

What are the common traits of an entrepreneur?

The entrepreneur is a different animal to your average coaching client. They are futurists and have the capacity to see opportunities where others cannot. They are highly creative and are strategic thinkers. They operate best free of constraints. They are impulsive and risk takers. The opportunity will often outweigh the risk. Their impetuosity and spontaneity often leaving a trail for others to clean up. They love to have multiple ideas or projects on the go. They thrive on starting things and can quickly become bored. They often work best alone. They move at a rapid pace. They may experience frustration if those around them cannot keep up.

What common mistakes do coaches make with entrepreneurs?

Don’t try to change them or slow them down

Successful coaches appreciate the entrepreneur for who they are and don’t try to change them. Let them run and get out of their way. Watch and learn. They move at such rapid pace they may omit to consider risks or challenges. Help them expand their thinking, use brainstorming techniques, run scenarios, add clarity and detail to the vision, identify blind spots.

Preserve balance and sustainability

In their haste the entrepreneur may neglect basic aspects of their lives, eg diet, exercise, relationships, birthdays. Watch out for sustained periods of neglect. They are optimists and masters of illusion. Look for hidden signs of stress. The entrepreneur has the capacity to make small things big things – both opportunities and problems. Call it gearing. A good coach will realise this and role-play whatever role is appropriate. This is an art.

Respect their creativity and risk threshold

Entrepreneurs have a high threshold for risk. Accept it and work with them. You may need to be the flexible one. Their tolerance for risk, not yours, should determine the basis for strategies and objectives. Entrepreneurs love to brainstorm ideas. They also love to talk. So, let them. Coaching is about listening. Entrepreneurs want someone to listen and respond enthusiastically to their ideas. They seek positive reinforcement.

What advice would you give to public practitioners dealing with entrepreneurs?

Much of the above is also true for the professional advisor. There is one basic distinction. True coaches will not give advice. They will facilitate self-discovery through questioning techniques. Professional advisors such as accountants are expected to give professional advice. They are subject matter experts and required to interpret the law and share their knowledge. Remember entrepreneurs are the decision makers so offer them your considered opinion and let them decide. Give them options.

Be proactive

Entrepreneurs move fast. They subject themselves to risks and make frequent decisions. They do not and cannot know everything. They place a premium value on astute professional advisors who can give them considered opinion proactively and foresee scenarios or risk exposure they cannot.

Be accessible and responsive

When entrepreneurs want an answer they want it now. They make rapid fire decisions and have short concentration spans. They don’t want to dwell on the detail. Big picture, clear guidance, fast turnaround.

Service focus

Tune into what your client wants. Take time to learn how they tick. Be flexible with your communication style to accommodate your client. They talk fast, you talk fast. They want succinct information, give it to them. They want options, run scenarios. They expect you to be there when they need you not return my call two days later.

Questions are the answers

Learn how to listen. Learn how to ask powerful questions. The techniques of a skilled coach are just as relevant for an accountant or sales professional. Ask open questions, eg what, where, when, how. Practise questioning techniques such as probing, clarifying, paraphrasing, summarising.

Restate commitments

Once you have reached agreement with your client, repeat it back to them for clarity, “So, it is my understanding that you want me to submit your tax return by Monday, 31 July, is that correct?” or “My expectation is that you will sign and return the contract to me by Wednesday, is that reasonable?”

Real-time information

Nothing irritates an entrepreneur more than old information. Time is money. They want both lead indicators (prospects, conversion rates, average sales, purchase frequency) and lag indicators (customers, sales, profits) in their management reports. Sales pipelines are essential management information.

System and structure

The entrepreneur needs system and structure. They often aren’t the best person to deliver it. That’s why they hire a coach, personal assistant, consultant or accountant.

Coaching an entrepreneur is an exhilarating and rewarding experience. It can be a roller coaster ride and is never a dull moment. Supporting them in your role as a public practitioner can be just as rewarding. So, get yourself ready and hang on for the ride of your life.

How To Stay Alert And Aware As An Entrepreneur

What makes a successful entrepreneur? Of course, the answer to that is many different things but one of them is definitely their ability to know what is going on within their own industry, within the world of business in general and especially with entrepreneurs and entrepreneurship.

Successful business owners keep up on what is going on and stay informed of the latest trends, market shifts and opportunities so that they can take any advantage they can get to make their business grow. So, how they stay in the loop so successfully?

#1 Successful Entrepreneurs Talk to Other Entrepreneurs

People there in business for themselves don’t exist in a vacuum. Besides their customers, suppliers and all of the other support systems that they have around their business, they also have friends and colleagues that are also entrepreneurs and keeping up with these people is one of the best ways that they have a staying informed.

Whatever the virtual water cooler happens to be of these entrepreneurs – usually a forum or social media network – they share information, give advice and keep each other updated about entrepreneurship.

#2 Successful Entrepreneurs Read (A Lot!)

One thing that you will notice about those successful in the business world is they tend to read publications, websites or even social media posts about their business – and that includes books by some of the most successful motivational authors.

The successful people like to stay informed and they like to learn new things. There is so much information on the Internet that you could spend decades learning about a subject and still not know everything about it and being as informed as possible is equal to being as successful as possible.

#3 Successful Entrepreneurs Use The Insider Intel To Improve Their Business

All this information that they gather isn’t just going to sit stagnant, either. They are going to use this information to improve their business, increase their revenue or bring in more customers. Successful entrepreneurs know when they learned something useful and work to implement it as quickly as possible.

#4 Successful Entrepreneurs Help Others Succeed Too

Another thing that you’ll see is that the more successful entrepreneurs they become, the more willing they are to help other people succeed at the same time. They have been where the budding entrepreneurs currently are and remember what it was like to enter the fray with only the basics. Most successful entrepreneurs are more than willing to share their knowledge and mentor the newbies.