It’s a question that every would-be entrepreneur asks…
“Have I missed the boat? Is it too late?”
In some markets, it may indeed be too late. If your plan was to open a video store that rents VHS tapes then you’ve definitely missed the boat. And you might have a hard time releasing your own operating system now that Microsoft pretty much has a strangle hold on the market.
But as far as online businesses go…we’ve barely seen a glimpse of the surface. There’s a whopper of an iceberg hiding just out of sight and the market is set to explode in coming years.
If you had jumped into the world of online business in the late 1990’s (and survived the dot com bust) you wouldn’t be reading this blog right now. You’d probably be laying on a private beach somewhere being fed grapes and fanned by beautiful women (or men, for the ladies).
But you know what? I predict that 20 years from now people will be saying the same thing about 2011. I really do.
The internet is still just a little toddler learning to walk. It’s nowhere near its full potential. There are millions of people who don’t have internet access or whose connection speed is so slow that even routine browsing is a chore. And millions more are still too afraid of scams or identity theft to make purchases online (sounds ridiculous to you and me right?)
As more people come online and connection speeds increase there will be an incredible influx of business conducted on the web.
And the best part of it is there’s still plenty of time to position yourself as a mover and shaker. You see the mere fact that you’re reading this gives you a distinct advantage over 99% of the population. They have no idea what blogging is or how to earn a living online. Heck, they can barely figure out how to add a link to their list of Favorites!
To them YOU ARE A GURU! Even if you haven’t put together all the pieces of the puzzle…at least you’ve started putting it together. Most people don’t even know the puzzle exists…
We tend to take our knowledge for granted and assume everyone already knows what we know. But it never ceases to amaze me how many of my friends have never heard of WordPress, Google AdSense, affiliate marketing, autoresponders, etc. To them I’m some kind of technological genius (trust me I’m not! ).
To them making a measly $200-$300 a month would change their lives. It would mean having some extra play money or a vacation fund or paying down some debt. And $300 a month is such an easy goal if you just put in a little bit of work.
Anyway, the moral of this post is this…
We’re only in the first inning here. There’s still a lot of game left to be played and its still early enough for you to jump in and make a killing. So what are you waiting for? Get off the bench and get in the game!
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Mike, I’m with you…$200-300/month can be made with just a fair amount of effort and would make a big impact for most folks. All you really need is a decent niche website with a hundred or so visitors per day. My friends look at me like I’m from Mars when I explain it as well, but really anyone can do it.
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I get the same reaction when I bring it up with my friends. I try to explain it in simple terms but I get the idea they think I’m piloting the Enterprise or something.
Just came over from Saving Money Today. Love the question. Definitely think people can still make money online. Just need to spend sometime learning how things work and then hit the ground running.
Never too late to make money online. I was just telling my wife today that when I get discouraged I think about all of the opportunities there are online to make money. If you really sat down and looked at all of the different ways it can be both encouraging and overwhelming. The key is consistency. Keep doing the same thing and be consistent with whatever you are doing. Blog, ecommerce, review site, etc. As time goes by, I think making money online becomes harder to do, but never impossible.
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Great post, Mike. Saving Money Today got me to your blog, which has re-engerized me about the net’s money-making potential. I got off the bench and into the game a year ago by creating what I and others believe is a very cool and unique niche website. The problem is, I’m clueless about WordPress so it sits idle on my site; AdSense has never sent me their promised acceptance email (nor any other form of communication) so I have yet to derive any ad dollars; I know nothing about SEO and even if I did, I’m not sure it would help, because who searches for “money graffiti” or “doodles on dollars”? And all those “affiliate marketers,” “social media experts” and other technological gurus in their zeal to separate me from my dollars scare me and weary me; but you give me hope. I think I get at least 100 visitors a day, so tell me and my team play-by-play how to turn that into $200-$300 a month? If we’re in the first inning, show us how to hit a home run!
Hi Richard, thanks for stopping by and commenting. I know how you feel about the scammers who make it sound like you can just flip a switch and turn on an unstoppable flow of cash into your pockets. It sounds like you’ve already tried some of those “can’t fail, get-rich quick” products and were disappointed (don’t feel bad, I’ve done the same). The truth is that there is no magic phrase that will take you from $0 to $10,000 in a week. It just doesn’t exist. Making money online is hard work, particularly when you’re just starting out.
Anyway, I looked at your site and it’s a neat idea. We’ve all seen funny doodles on dollar bills and chuckled to ourselves. A database of pictures like that could be funny. But there are some issues…
1. The thumbnail images on the site are hard to see. And even the bigger ones…many are hard to read or just don’t make any sense taken out of context. Rather than have a bunch of hard to read images on a single page, perhaps try using Wordpress to post them one at a time with a bigger image and some text to go with it (this is where you’d have to get creative, maybe imagine a story behind the text…or at least a sentence or 2 with a punchline of sorts).
2. You’re right, there aren’t many people searching for “money graffiti” or “doodles on dollars” so right now traffic potential is limited. But the way I see people enjoying your site is this: They’re sitting at work bored out of their minds and looking for a way to pass the time. They browse a few of their favorite social media sites like Reddit and Fark looking to add a little enjoyment to their day. They come across a link to Money Graffiti and bam! Now they’re laughing at all the silly pictures and witty comments on your site! (I see you as the Photobomb of dollar bills). With time perhaps you build a loyal following of visitors/submitters. As your traffic grows you can start charging for private advertising and then you’ve got a reliable revenue stream going.
Now I’m NOT going to blow smoke up your butt. I’m not trying to sell you some $97 product to answer all your prayers…I’m just trying to be objective and help you see that your site does have some potential. BUT it will take a lot of work to get there! And you might work your ass to the bone trying to make a go of it and still end up with nothing. There’s no guarantees. Some sites just don’t work out. And some niches just aren’t very easy to monetize. Your idea is unique…it could be a hit or it could be a complete dud. I think it has a shot at being successful, but understand it will take a lot of work and the odds are against you.
Mike, your comments about www. moneygraffiti.com are very encouraging and much appreciated. Re: posting the bills “one at a time” with larger images: Did you see the option that lets you “step through” large images of all bills in any particular gallery? I think that accomplishes what you suggested. Or, you can click on any thumbnail for a full-size image. In some cases, we add text below particularly noteworthy examples.
The hard work doesn’t scare me. I’ve already poured thousands of hours into the site to bring it to its current state, and I don’t mind more labor as long as I see people enjoying the end result. After all, it is a labor of love.
May I post an excerpt from your remarks on our “comments” page about how people would enjoy the site? Credit would be to: Mike — http:// moneymattersguy.com .
Many thanks for your insightful analysis and moral support.
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