InMyHomeOffice.com – The Blog Of Ian McConnell
Shares

2 Mistakes That Cost Me 3 Years Of Lost Income

These 2 mistakes cost me 3 years of income… Which I conservatively estimated to be about $246,000… ouch!

Mistake #1 – Not Focusing on 1 Strategy

Mistake #2 – Listening To More Than 1 Expert

I started my “make money on the internet” adventure back in 2006 after listening to a couple excitedly tell their story about how they had made $250,000 in the last 12 months, from selling 1 digital product.

And.. The entire sales system was on complete autopilot.

I had just sold my brick and mortar business because of the high overheads and unreliable staff, so I was astounded when they told us that more than 80% of the $250,000 was profit. They had no staff, no shop front, they sold globally and did not have to deal with the public face to face.

It sounded like the perfect business for me…

…The system they went on to teach, was almost the exact system I used to make $82,030.27 in 2010.

But, I had learned this strategy in 2006… So, what happened in 2007, 2008 and 2009?

I'm embarrassed to say it, but in those 3 years, I submitted tax returns showing my internet marketing business had made a loss. Fortunately, I had my trade as an Electrician to fall back on.

You see, after hearing that couple tell their story, and explain their strategy in great detail, I went on to buy course after course over 3 years. I think that I subconsciously did not believe that their simple strategy would work for me.

I was on a mission to learn everything I possibly could about every part of internet marketing. I learned how to create html pages, create graphics, set up autoresponders, create blogs, write better copy, install scripts, etc. etc.

I paid $1,997 on more than 3 occasions for home study courses. I was getting sucked into every product launch, thinking that if I just got 1 good idea out of that course, my money would have been well spent…

BIG MISTAKE!

I was on most “guru's” mailing lists, and was getting pounded with hundreds of emails every day. It became normal to work 14 to 16 hour days.

I had accumulated a huge amount of information, implemented some of it and got dismal results.

After 3 years of this I was burnt out and sat down one day to assess what I was actually doing.

That was at the end of 2009. Over the Christmas break I unsubscribed from every mailing list I was on. I looked at my 3 large bookshelves and forced myself to choose 1 strategy to follow.

The strategy I chose was actually the first one I had learned… Funny how life works out like that sometimes!

I had gone full circle and finally realized how incredibly valuable that information was, that the couple had freely given away to me in 2006.

Then I searched for a coach that would hold me accountable, someone that was already successful in what I wanted to do. I found Coach John, who I thought was expensive at the time. $5,500 for a 30 minute call every fortnight for a total of 5 months ($550/30min call).

It was the best investment I have ever made. $82,030.27 of income was the result. I'll give you more detail on coaching in future lessons.

So, my message to you is keep it simple! Business is not complicated. Follow one strategy, hopefully the one I will teach you in the upcoming lessons, put in the work you need to, persevere and you will succeed.

Please leave your questions and comments below…

In the next video I show you how to research the niche you should build your business around.

About the Author Ian McConnell

Ian is a successful offline and online entrepreneur with over 20 years of marketing and business experience. He is very passionate about living a life with time, income and location freedom. Find out more about Ian McConnell >>

follow me on:

FREE Book Reveals...

"Expert Secrets" is the complete step-by-step map that will allow you to turn your knowledge, talents and abilities into an information product that can be sold online to people all over the world.

Start building your online business today by getting your FREE copy of this book (just pay shipping)...

Send My FREE Book

Leave a Comment:

Add Your Reply