How to Actually Make Money Online (No-BS Guide)

Summary

In this video, a self-made millionaire shares his journey of adapting to the changing business landscape brought on by the internet. He outlines the key stages of making money online, from struggling to start a side hustle, to achieving success through consistent effort, and eventually scaling to elite levels with smart reinvestment strategies. The video emphasizes the importance of choosing the right method, avoiding common pitfalls, and staying committed. The speaker also reveals tools and techniques, like e-commerce and AI-driven store builders, that can accelerate success in online businesses.

Takeaways

• 😀 Start with a side hustle: 55% of people don't start at all, and having a side hustle is more important than ever due to inflation and financial uncertainty.
• 😀 Avoid 'Shiny Object Syndrome': Jumping between trendy methods without committing leads to failure. Focus on one method and stick with it for success.
• 😀 E-commerce is a powerful tool: It's one of the most profitable online ventures, especially with AI-driven tools that simplify the process.
• 😀 Don't give up too soon: Most people fail because they stop before seeing results. Consistency is key to building a successful online business.
• 😀 Focus on automation: Tools like AutoDS can help automate your e-commerce business, allowing you to focus on marketing and scaling, not inventory management.
• 😀 Target a specific audience: Instead of appealing to everyone, define your ideal customer and create content that speaks directly to them.
• 😀 Consistency over perfection: Success comes from small, daily actions rather than trying to work endlessly or seeking perfection from day one.
• 😀 Show, don't tell: Demonstrate your product’s value clearly. It's essential to show how it benefits customers and differentiate it from competitors.
• 😀 Build trust with social proof: Reviews, testimonials, and showcasing real people using your product help create credibility and increase sales.
• 😀 Reinvest to grow: The 1% of successful people reinvest their profits into upgrading tools, acquiring customers, and outsourcing tasks to scale their business.

Q & A

What was the speaker's situation before transitioning to making money online?

The speaker was a 28-year-old self-made millionaire who had built a successful business empire with multiple shops and warehouses. However, the advent of the internet rendered his previous business model irrelevant, forcing him to adapt or give up.

What was the speaker's approach to overcoming the challenges of making money online?

The speaker embraced trial and error, learning from failures and successes, and eventually rebuilt his business by incorporating the internet into his strategy, focusing on online methods that truly work.

What are the three main stages people typically go through when trying to make money online?

The three main stages are: Stage 1 (no side hustle), Stage 2 (failing side hustle), and Stage 3 (successful side hustle). There is also a secret fourth stage that only a few reach, which is discussed at the end of the video.

Why do 55% of people never start a side hustle?

The online space is overwhelming, filled with confusing ads and methods that make it difficult to know where to begin. This confusion, combined with a lack of clear guidance, leads many to avoid starting a side hustle altogether.

What is Shiny Object Syndrome, and how does it impact side hustle success?

Shiny Object Syndrome is when people jump from one trendy online moneymaking method to another without fully committing to any of them. This prevents success because each method requires time and consistent effort to succeed.

How can someone with no high-income skill still succeed in making money online?

Even without a high-income skill, someone can succeed by focusing on product-based businesses. The speaker recommends using automated e-commerce models, such as AI-built Shopify stores, which allow people to sell products without dealing with inventory or complex setups.

What is the biggest mistake people make when trying to make money with e-commerce?

The biggest mistake is giving up too soon. People often abandon their e-commerce efforts because they don’t see immediate results, but success in e-commerce requires persistence and consistency over time.

What are the four key steps for running a successful side hustle?

The four key steps are: 1) Stop trying to appeal to everyone and focus on your ideal customer, 2) Stay consistent, 3) Show and tell by clearly demonstrating the benefits of your product, and 4) Build trust through social proof and customer feedback.

What is the secret fourth stage in the online wealth journey?

The secret fourth stage is running an elite side hustle. This stage involves reinvesting profits back into the business to fuel growth, upgrade tools, get more customers, and outsource tasks to scale the business.

Why is reinvesting profits into your business important for success?

Reinvesting profits helps scale the business by improving tools, increasing marketing efforts, and outsourcing tasks. This is crucial for long-term success, as it allows the business to grow beyond the initial stages and reach a more sustainable level of profitability.