Since I began earning a living from home in 1988, I’ve come to realize basic truths that are vital for anyone looking to work profitably outside the usual sorts of in-person employment situations. I mention these truths now, upfront, since they set important expectations for anyone wanting to learn how to earn a living online on their own terms. Here’s a basic list. I’ll go into detail further along in this article. If you haven’t read it already, check out my previous article, Two Kinds of Online Work.
The Three Truths of Online Income Success
- Forget “get rich quick” ideas.
- Understand the “value” reality.
- Prepare to develop new skills.
Online Income Truth#1: Forget “Get Rich Quick”
I’m sure some people have gotten very rich very quickly online, but I don’t know how to do this. The best I’ve been able to achieve is to get comfortable slowly, and this is what I’ll share with you. In many ways, slow and steady is best. Based on what I hear people tell me, getting rich quick isn’t even something that many ordinary people realistically aspire to. Instead I can show you how I’ve created a stable, profitable, online work regime that I can do anywhere in the world. My regime won’t be your regime, but there are take-aways you can apply to your own, unique venture. That said, there is at least one thing that’s universal.
True success always take patience and consistency and that’s why you should give yourself a year without expectations of earning any money online. A year to get going. Chances are good that you will bring in money sooner than this, but don’t think about the profit part just yet. Instead, think of preparing yourself to create and deliver value to someone somewhere. And this thing – “value” – is at the heart of your dream to earn money on your own, wherever you happen to be. And this brings me to something else that’s vitally important.
Online Income Truth#2: Understand the Value Equation
In one sense, earning a living from home is no different than earning a living in the usual way with a usual job and boss. Both ventures come down to a fundamental reality that sits at the foundation of all free market success. This simple reality is that we’re paid for value we create, and not a penny more. The equation below says it all:
Skills plus Economic Demand = Value
Any difficulty that anyone has earning enough money doing whatever they’re doing (online or not) comes down to something to do with a violation of this equation. Perhaps there’s a true economic need that people are willing to pay for, but you don’t have the skills to meet that need efficiently. Insufficient value delivered means insufficient money for you.
More commonly from what I see, people have skills (often related to personal passions), but those skills aren’t the right kind to satisfy an economic need people are willing to pay for. You can be the greatest maker of ice boxes in the world, for instance, but who would buy something like that when the world has plug-in refrigerators? Real skills need to meet a real economic demand for value to be created in an economic sense. If you’ve ever tried to earn money online and it didn’t work, there’s a problem somewhere with insufficient value generation. Setting aside accidental flash-in-the-pan success, criminal activities, or perhaps winning a lottery, your financial reward in life is in direct proportion to the value you bring to other people. It’s common for unsuccessful people to offer excuses such as “it all comes down to who you know” or “if only I had more X, then I could succeed”. Yes, there are challenges to achieving anything worthwhile in life, but meeting challenges and growing from them is one of the main values of life itself. Don’t shirk this. Embrace it.
To be clear, I’m not saying that financial value is the only kind of value in the world. Certainly not. But for our purposes here, when I say “value”, I mean the kind the marketplace demands and will pay for. In the end, I want to help you create a steady stream of cash that you can bring to the bank in exchange for working at something you like (maybe even love) on your own terms.
Online Income Truth#3: You Probably Need New Skills
Almost no one already possesses all the skills they need to succeed at something new. This emphasizes the importance of mentally uncoupling from results at the beginning of your venture to earn a living online. Why? You need the time and attitude to retool yourself to create value, and this situation reminds me of the two men who invented powered aircraft back at the turn of the 20th century, the Wright brothers of Dayton, Ohio.
Like you, these two men – Orville and Wilbur Wright – had a source of what I call “conventional” income. They had a small shop where they made and repaired bicycles. They could have stayed with this for the rest of their lives, but they also had a much larger dream. The idea of an engine-powered, heavier-than-air flying craft was something many “experts” said could not be done. That was back in the earliest years of the 1900s, and the Wrights disagreed with the naysayers. But they also knew there was much they did not yet know about how to make something fly under power. Literally every detail needed to be designed, tested and redesigned, all without any previous knowledge to go by. Countless things needed to come together just right for flight to happen, and it took many attempts and painful crashes before anything like success happened. If nothing else, the Wright brothers were perseverant, and you need to be, too. Do you know what kept these men going? One simple thing.
Whenever the voices of “reason” told them powered flight could never happen, the Wright brothers looked up at the birds. These creatures proved that some kind of powered, heavier-than-air flight was possible, and irrefutably so. Look at the soaring eagle! You have the same fall-back as Orville and Wilbur did. You can look around and see people – more and more all the time – earning a good living from anywhere they happen to be, following a schedule of their own devising. I’m one of these people an I have been doing it for 30+ years. Eagles are flying all around you, so to speak, and you can probably fly with them if you’re willing to equip yourself to do it.
Think about the Wright brothers in relation to a question: “Could Orville and Wilbur’s craft flown if they have the camber of the wings correct, but the engine wouldn’t run? No. Could the craft have flown if the engine started and ran but the tail of the plane was too heavy? No. How successful would their plane be if the first gust of wind caused a wing to break? Not successful at all. The lesson here is that not only do you need an idea that’s theoretically possible, but all the physical details that could turn that theoretical possibility into an actual reality need to be in place. It’s like a combination lock. You can get two numbers perfectly correct, but if the last number is wrong, the lock won’t open.
Have you heard from people who have tried earning a living online but failed? Perhaps you have personal experience of failure in this area, too? In every case of a “crash”, some detail was not correct. Get the details right and your plane will fly. It must. Just look at the eagles. Faith that success is possible for you is the most important factor because without faith you won’t put in the time and effort needed to build your online work regime.
There’s nothing I can tell you that will let you go out tomorrow and begin earning good money online if you’re not already doing so. However, I can help you develop the ways of thinking and acting that will, if followed, invariably result in success. Whether or not success actually happens for you depends on you. Eventually we’ll get down to the nitty-gritty of how to do this technical thing or that technical thing, but for now more groundwork is needed. Next time I’ll tell you about the two main types of independent, online work. It’s important that you know what these are and how you and your temperament and dreams fit into them.
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