Making money online is talked about a lot, but it’s something that few people actually manage. What’s more common in fact is losing money whilst trying to make it. So this post is a little tong in cheek perhaps, as a guide to help when trying to lose money online.

Making money online

5 Essential Tips On How To Lose Money Online

1. Risking More Than You Can Afford

Any sort of business venture requires an upfront investment, whether that be money, time or both. But whatever sort of business you try to start there is always a chance that it will not succeed. For that reason, you should never invest more than you can afford into making money online.

2. Not Doing The Research

Whatever your strategy there will be a steep learning curve – understanding how to market your website, make more sales or get the most out your PPC spend – it all takes time and if you rush in without spending the required amount of time learning what you need to know to make your business a success you will probably fail.

3. Believing In Get Rich Quick

There are plenty of courses which offer to teach you a secret formula for Forex, getting tonnes of traffic or even how to sell your own info products online. It is entirely possible to make money by trading currencies online, by doing SEO on a website or any of these other methods, but all of these business models require a lot of skill, dedication and time to learn. Spending $47 on a PDF and some videos won’t shortcut that.

4. Giving Up Early

As I mentioned above, it takes time – there is no secret formula, just a whole host of potentially lucrative strategies. The key is not in finding the right idea it is in sticking to it and doing the hard work required. Don’t spend all day reading blog posts, watching YouTube and pretending that you don’t know why you aren’t successful.

Also Check : 5 Reasons You Are Not Making Money With Your Blog

5. Spreading Yourself Too Thin

Whilst it is certainly possible to build an Adsense website and at the same time run a successful eBay business and build an affiliate mailing list – when starting out you need to be focused. Don’t make the mistake of trying to do everything.

Once you have started on your path, you will most certainly come up with other ideas which seem even better – and sometimes they might be – but if you flit from one plan to another constantly you will never get anywhere.