How To Cure Yourself of Shiny Object Syndrome
One of the biggest obstacles that prevent most beginner marketers from succeeding online is known as ‘shiny object syndrome.’ This term was coined to describe an attitude that’s very common in the internet marketing industry.
Basically what it means is that the newbie marketer buys a guide or product that teaches him or her to make money using a certain method. It could be affiliate marketing, ecommerce or any of the plethora of methods available.
However, before the newbie can apply what he or she has learned from this method, they see some other guide or product that’s new and shiny hit the market.
They then drop whatever they purchased earlier and go buy the new product… and the cycle keeps repeating itself. They never take action.
There are many beginners who have spent thousands of dollars buying products and have never made a single cent online. They can’t stop themselves from buying. It makes them feel good.
It gives them hope and they mistake the action of buying as an income generating activity.
The hard truth is that you only make money online when you sell something. Never when you buy.
That’s not to say that buying products is wrong… but you must be very discerning in your purchases and only buy what you absolutely need to take you closer to your business goals.
In this article, you’ll be given a few tips on overcoming shiny object syndrome. Follow them closely and you’ll save thousands in the long run and actually start generating income for yourself.
* Choose one method
This is imperative to you succeeding online. If you decide to make money with Kindle publishing, you need to focus ALL your efforts on this method till it bears fruit.
It doesn’t matter if you receive an email promoting the latest and best YouTube ranking software or the latest ecommerce domination system.
Your blinders are on and you’ll stay focused on your one method till it makes you money. Your success online is not a coincidence but a consequence. Focus is absolutely necessary.
* Unsubscribe from distractions
It is very common for marketers to have their email inbox inundated with incessant emails from marketers promoting everything under the sun. Some marketers have no qualms about sending 6 to 8 emails a day.
They call it a ‘crush campaign’ and their only goal is to get you to buy from them.
You have to be smarter than that. Unsubscribe from marketers who keep promoting different unrelated products every week. If they’re not providing any value and all you’re getting are sales pitches, you need to boot them out. If they’re not a part of the solution, they’re a part of the problem.
* Have a budget
Set aside a budget to invest in your own business and learning. If you put aside a hundred dollars a month, stick to it. Do NOT use your credit card to purchase products that exceed your budget. If your outgo exceeds your income, your business become your downfall.
* Exercise due diligence
There are far too many marketers who peddle absolute rubbish and make it look like their products are all you need to make a six-figure income. Yet, these very same product creators NEVER practice what they preach.
Their income is derived from constantly launching shoddy products and conning unsuspecting newbies.
It’s your duty to do your research on the product seller before you purchase anything. Go on the platform where they are selling their products and look at the reviews.
Very often you’ll see that their products get only one or two stars out of five. This is a very clear indication that you should avoid these sellers and their products like the plague. Sometimes your best investments are the ones you don’t make.
If you follow these tips, you will avoid the curse of shiny object syndrome. Ultimately, the only mantra that you need to sear into your mind is this… “You ONLY make money when you sell.” Period.
Are You Spending Too Much or Not Enough Money on Your Online Business?
One of the biggest mistakes most beginners to online marketing make is they assume that they can start an online business for free and rake in the profits without much investment.
The truth of the matter is that the opposite holds true. While setting up an online business requires a much lower investment as compared to a brick and mortar store, you’ll still need to spend money to get your business off the ground.
Notice the word ‘business’ in the term ‘online business?’ – That’s exactly what it is. It’s a business and you will need to spend money on it. It’s called capital.
You’ll need to buy a domain. You’ll need to pay for hosting monthly and for an autoresponder to build your list of prospects. These are the basic but crucial fundamentals to setting up an online business.
If you try to skimp on costs here and build your web pages on someone else’s web property, you’ll be subject to their whims and fancies.
One good example would be Squidoo, where thousands of marketers built Squidoo lenses for a while and one day woke up to see that their hard work had gone to waste once Squidoo changed its terms of service.
So, you absolutely want to invest in your own business and retain control over it. If you’re new to online marketing and funds are short, you may wish to provide services online and generate an income first before you start off on your online business.
There are freelance websites like Upwork.com and Fiverr.com that will give any newbie a chance to make some money online. Yes, you will be trading hours for dollars but you’ll be saving up capital for your own business.
On the flip side, there are beginner marketers who buy and invest in products and services that are way too costly for them.
If you’re just starting off online, you do NOT need to pay for an entire year of hosting all at once. You can choose the monthly option and it will be less of a burden on you.
Another mistake is to assume that you need the most expensive tools to ensure your online success. One good example would be paying a hefty sum for services like ClickFunnels and Infusionsoft.
Despite the fact that these are excellent services, you don’t need them to build a profitable online business when you’re starting off.
You can choose much more affordable options like Thrive Themes to build your sales pages, etc. and Aweber or GetResponse which provide similar services as Infusionsoft, just without the bells and whistles… and the hefty price tag.
Wait till you’re generating a substantial income online and it reaches a point where you need better tools to scale up. Then, you can go with the better and costlier options to take your business to the next level.
Another tip for newbies is to watch their expenses very closely and only spend on products that will take your business to greater heights. Do not keep splurging on ‘Make Money Online’ guides and software that make bold and unsubstantiated promises.
Thousands of people have spent a ton of money on rehashed and untested products that were nothing more than hype and empty promises.
This industry, unfortunately, is awash with such products and they’re the norm rather than the exception.
Caveat emptor is the rule here. Buyer beware.
Track your online expenses like a hawk… and spend what you need to in order for your business to flourish.
Wise spending is part of wise investing… and it is of paramount importance that you not be penny-wise and pound-foolish.
Like Warren Buffet said, “Price is what you pay. Value is what you get.” Watch both closely. How did you like this post?
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Cheers, Helene Malmsio
Related Reading: https://www.discoveryhub.net
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