Since I’ve been “trying” to make significant money online (starting seriously in 2008) I’ve had my fare share of failures! However, I’ve been able to gross several hundred thousand dollars over the years with very little risk, which is what attracts me to making money online. You can try “stuff” fairly inexpensively and fairly fast if you have the skills to develop and market websites which I still struggle with.
Trying to make money online is hard work, but at times for me can be extremely frustrating. The ups are great but the downs can be disappointing and annoying.
The Internet is extremely dynamic. The rules are constantly changing. I have to deal with suppliers, affiliate companies, advertisers, web hosts, and customers to conduct business which is a dynamic event. Things don’t stay the same. Although business is conducted on the Internet, I still deal with people who are all looking out for their best interests.
Over the years I’ve had numerous problems / failures that I’ve had to overcome, which include:
- Spending hours on numerous sites (ecommerce, Blogs, affiliate campaigns, forums) that have failed miserably!
- Sites from time-to-time being down and/or running extremely slow due to web host issues. Many times paying to advertise the site, thus losing money! Had to transfer 2 sites to new hosts because problem couldn’t be resolved.
- Web hosting company disabling site without notification because of complaint about copyright material on the site.
- Websites hacked with malware and into administrative account.
- Suppliers constantly running out of products, thus having to refund thousands of dollars (lost sales).
- Suppliers constantly adding, changing and deleting products which are difficult to keep up with.
- Supplier offering 10% discount for months and then suddenly stopping resulting in significant reduction in earnings.
- Fraudulent purchase on ecommerce site losing over $600 (not bad considering).
- Replacing customer purchased product lost in the mail. (only happened once).
- Customer complaints (defective products, product returns, products not shipped on time, wrong quantity shipped, etc.)
- 2,000/day unique visitor site disappears from Google search and takes months to return fully after requesting re-inclusion. Google search accounts for 80% of traffic and results in loss of a few thousand dollars.
- Google disabling (1 temporary, 1 permanent) advertising accounts because of account was hacked and policy infringement (losing about $4,000).
- Google dropping quality score of successful ad campaign to 1 thus permanently killing traffic and earnings.
- Google decreasing page rank from 4 to 0, thus turning away advertisers.
- Lawyer threatens lawsuit and wants to negotiate payment because of use of a copyrighted picture on site. (Never paid after claiming no profit/damage made from picture).
- Affiliate company holding approximately $40,000 for an additional 3 months before paying. (Had to take $20,000 from personal savings to cover advertising costs).
- Having affiliate/advertiser decrease payout by thousands of dollars claiming traffic sent was junk.
- Having a successful $300-$400/day profitable campaign for several months and then one day receiving an email from affiliate company stating that same day is the last day the offer will be live and to kill all traffic to the site.
- Having a successful campaign go from making $30/day profit to almost $100/day profit and then back to $30/day after several months. Tried desperately to fix with no success.
- There are many more to mention! And the problems will continue…..
Although there have been numerous problems/failures, I realize the path to ultimate success is being able to overcome problems/failures, to keep going and to not let it get you down. I realize it’s just a part of the game and don’t want success in my niches too easy because every Tom, Dick and Harry would be competing with me.
At times when I’m disappointed that things aren’t going well, my wife kicks me in the butt and reminds me that I went from $0/month profit to $X,XXX/month profit and at times have reached $XX,XXX/month profit! It’s great to have someone to remind you that the glass is half full!
So what failures have you had to overcome to become successful? Would love to read your comments below!