The One BIG Lesson I Learned About Building a Successful Online Business After 7 Years PLUS Online!

Do you love football, (soccer if you prefer that)?

You do, right? So do I!

Now, one thing I've noticed whenever any team is playing is how nearly everyone who is watching the game is an ‘expert'. One common thing you'll notice with these people, whether they are watching the game in the stadium or at home via their television sets, is the ‘expert' tips and ‘technical' advise they ditch out.

Whenever a player make a wrong move on the field of play resulting in some missed chances, these ‘unofficial coaches' would say all sort of unprintable words. Most times they dish out instructions of what players should or should not do.

In fact, the way most of these self assumed experts carry themselves while watching the players struggling to make good their act, you'd think they will perform wonders if they are given the opportunity to be in the field of play. But give it a try and you would only regret the result!

Succeeding online and playing football

Now, I know you'd be wondering what has the Web Income Journal has to do with football game. No, my concern here is not about playing football but about the attitude of many who want to make money online.

You see, the fact is when you are on the outside you could easily fall for the notion that building a successful online business is an easy thing. This is why many of us were pulled in by the smooth talk of online marketers who presented making money online as something you can achieve simply by putting up a website or blog.

But all that was only a DREAM!

I'm being honestly frank here!

If you have been online long enough then you would agree that internet marketing is not about working in your pajamas, even when you could choose to do so. It's also not about loafing it out at the beach with your lap while the money roll in!

One thing you must understand is that those figures that's being flashed at you in those sales letters are results of long and tedious days and nights of toil and sweat. Sometimes, even years.

So, if you desire success online you should be ready to put the investment of time and effort.  Never think success online come simply by sheer luck. You don't just casually ease into earning millions on the net.

As I mentioned a few days ago, the Web Income Journal blog, as it's today, will be 7years in a few days time. In this post I want to share with you the essential ingredient I've found to be a must-have if you want to build a successful online business.

Online Business Success

I must say that of all that's required to make a success of your online dream, this top the list…

Alright, let's get it on…

The Essential Ingredient for a Successful Online Business

Have a Right and Healthy Mindset

As I’ve mentioned earlier, many of us started online with a wrong mindset. We had some funny ideas about making money online. But I can tell you today that was really FAULTY foundation. I'm only here today because I jettisoned that mindset after I realized the problem with it. And, I'm grateful I did else I would have packed up my acts a long time ago!

One thing I can say is that over the years there are many bloggers that have interacted with this blog at one time or the other. Over time I have discovered that many of these blogs have dropped out of the blogosphere. Many of these blogs had an “appearance of success” when they were up. But as you'll agree with me, you don't ditch a winning team, or do you?

I dare say that of the many that are dropping out of sight, most got it wrong somewhere. And, in most cases a wrong mindset is the culprit!

Now I must say I may not have the qualifications to make such a grave statement but after about 7+ years of being online, a period within which I have tried my hands in different online business models – niche sites, affiliate marketing, bum marketing, article marketing, blogging and even Kindle self-publishing, I think I can read the handwriting on the wall whenever I see one!

So my intention in this post is not to sound pompous but to help you see the truth so that you can achieve your dreams online. If you truly want to escape being one of the dotcom failures, work on your mindset. Period!

Online success strategy

Wondering what really is the right and healthy mindset for succeeding online?

To help you understand this let’s look at it in the areas of what it IS and what it is NOT.

What it IS:

1.  A right and healthy mindset IS the willingness to work as hard and as long as is necessary to achieve the goals that YOU have set.

2.  A right and healthy mindset IS the willingness to take the time to make a good, solid business plan that is based upon sound business principles.

And what it is NOT:

1.  A right and healthy mindset is NOT the belief that success will be easy, quick or painless.

2.  A right and healthy mindset is NOT just jumping in feet first and hoping for the best. The best that can happen under those circumstances is that you'd get out with nothing more than two cents to your name.

From the above you’d understand that those who believe that they can build a successful internet based business without putting in the required time or effort are simply doomed to failure from the very start.

I’m sure you don’t want to set up your online business to self-destruct!

Again from what is presented as the right and healthy mindset, you will notice that there’s the need for setting goals and making a business plan based on sound business principles. This is because building a business online is pretty much the same as building a business off-line, with a little difference in approach. It is important therefore that if you lack any knowledge in the area of your business focus, never hesitate to get it whatever the cost.

Of course, a right and healthy mind set may not automatically guarantee success online but note this very carefully, a wrong and unhealthy or unrealistic mindset will most assuredly, as the day follows the night, guarantee failure! So get the right mindset because this the first cornerstone that must be laid if a successful online business is to be built.

I’ll love to hear your thoughts on this. Share with us in your comments below.

[NOTE: This post was actually done a few years ago but then it's still ‘fresh' and to the point for a 7 year anniversary post. And so, I simply ‘brushed' it up a little. Do enjoy!]

  1. Reply
    Edgar@project management May 26, 2011 at 4:30 pm

    Through my little internet marketing journey, i discovered that having the right mindset is the only way to online or offline success. Taking action and working consistently is the key to financial freedom.

    • @Edgar, the wise one who said, it’s your attitude that determines your altitude was very right. What you’re inside is a big factor in succeeding in life. I actually believe we should work more our mindset because it makes more sense doing so!

      • @Chadrack,

        This is a great analogy you’ve come up with, here! I can personally relate with it, too. One of my biggest realizations early my Internet marketing career was that most of the people who spend the day hanging around in forums are just “sideline coaches” who keep making educated guesses and talking the talk, rather than walking the walk!

        Happened to me, too… and only when I started wasting half of my working day in forums, did I start going places and getting things done… with hard work, persistence and constant experimentation.

        The take-away for novices would be: get in the game! Don’t just stand in the side-lines discussing the players and the rules.

  2. Hey Chadrack,

    Way to bring it with honesty. Although I haven’t been online for long I must say the 4-Hour Work Week sure sounded appealing to me. The pajamas or the island setting were touching my humanity in a most tempting way. Reality set in after 2 months. I’m more fortunate than many others who paid thousands in order to buy this life style for themselves. I’m only out a couple of books. I will mention that the web still beats putting in 20 years at the mill (for me at least). Although I am still very new, I am getting better at determining what good content is or isn’t which helps with the learning curve. You, my friend, have good content.

    My position and mindset at this juncture is that I won’t fail because I will not quit. I may not be on some far off island tomorrow, but I most likely will have my pj’s on while I put in some elbow grease:)

    • @Rob, Wow that’s what I call the right mindset. I took that decision once I knew the internet is the right place for me. I have tried my hands in the real world building a business from the bottom up, but I must say the internet stands apart. And of course I also look forward to the moment when I can be on some lovely island enjoying the beauty of our world. For like they say, when your business is built on the right foundations and it takes off it could be like gliding in the air like the eagle!

  3. Very interesting! I agree – the right mindset is definitely required, but i think there is even more. you need to make sure your focus is in the right direction, and this is why people give up even with the right mindset. if they are not seeing results after a few months, they feel they’re focusing in the wrong places hence their mindset drops.

    • @Matt, You made a very valid point there, “make sure your focus is in the right direction.” I think this is very important because moving in the wrong direction in pursuit of your goal will only amount to years of frustration. This is where constant evaluation and adjustments are important.

  4. Thanks businessschoolblog. It’s a pleasure to share!

  5. Were you in a bit of a quirky mood when you wrote this article Chadrack, as both of those images are rather amusing 🙂

    • Probably, just kind of wanted something a little different and since I talked a little about football there, I thought that will do! Anyway, is it not eye-catching?

      • It is eye catching… a good moment of sport can draw you into an article – I might try that 😉
        Chadrack, could you get rid of this new comment box please – i.e. go back to using standard WordPress. It is so buggy, I keep getting told that I can’t leave the comment field empty, when it is full. Also, ‘failed to add your comment’ and yet sometimes it does add it… As well as this, I have just had to refresh the page about 5 times and scroll down, click reply and start typing as fast as I can to avoid the comment box ‘locking’ i.e. it won’t let me type. I click in the box and I can’t type.
        This new comment box is causing me a lot of stress Chadrack, and I don’t like it. If I want to use HTML, I will code it, I always used to.
        Please consider reverting back to your old commenting ways 😛

  6. Ah, the wisdom and omnipotence of the armchair quarterback.  =)  Have you ever noticed that they always operate on the best-case scenario?

    Making money online is tough, and needs tons of dedication. The last thing an online marketer needs is the false hope of operating on best-case!  


    • Well put Delena. This is one of the things that many wannabe internet “millionaires” have failed to realize. The game is tough and only the tough can really get going and coming out tops. I appreciate your comment.

  7. I love football too. And I really think that these are the best advices I’ve ever read about succeeding online. Thank you for sharing them.


    Is it possible to do network marketing online without having to actually speak to people over the phone? Thanks

    • Must say I’m not really into network marketing right now. However, from discussion with friends online, why many people look to the internet for network marketing is actually because it affords them the opportunity to signup up others under them without cold calling and one on one conversation as many of them have those fears of rejection.

      What I can however is that depending on what you are promoting, you can really do networking marketing online with using the phone. May be some one will throw some more light on this.

  9. It’s great that you are willing to share your experience to others.  I really appreciate it. I am a newbie in this marketing online world. It means a lot. Thank you, Chadrack.

  10. Here is a good post I made on building an email list. The diagram will really help you.

  11. My position and mindset at this juncture is that I won’t fail because I will not quit. I may not be on some far off island tomorrow, but I most likely will have my pj’s on while I put in some elbow grease:)thanks…

  12. I highly appreciate your great works. I bookmarked this post for future reading and must share with my fellow. Excellent article. Thanks for sharing. – high pressure pump, high pressure pumps

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