Stuart Ross, co-founder of Six Figure Mentors (SFM) and Digital Experts Academy (DEA) had previously shot a video about a question he's frequently being asked: “Is making money online easy.” The conclusion he arrived at was: No, it’s not easy but it’s simple. It’s simple if you learn a few basic skills and are prepared to take action and push forward.
In this video, he wanted to cover the second most common question he gets. And that is: “How quickly can I make money online?” Stuart wanted to answer this in the best way possible and address the audience he usually talks to – those people that are looking to make quite a ‘significant amount’ of money online. Meaning upwards of 6-figures.
Stuart also answers this question in a way that he would want to hear it himself. That is without any hype and without any exaggeration.
How Quickly Can I Make Money Online?
So let's go… the actual idea of making money online, especially as an affiliate, is actually quite straightforward. You refer a customer to a product and you get a commission for making that referral.
Some people have done this in a week or two of getting started online. The difficulty is often ‘scaling' and repeating the process on a regular basis so that you are actually making enough money to cover your costs.
Also if you are serious about leaving a traditional job or making more money than you are right now, then there is a different answer for these types of people. When Stuart got started online it was all about making enough money to leave his job and not have a business he was going to struggle with – cold calling, chasing people, and all the normal stuff like that.
So the question, “How quickly can I make money online?” will be answered in that context. This is assuming that you want to make good money and you don’t want to be picking up the phone cold-calling and chasing family, friends, and work colleagues in building a more traditional type of home business.
It’s a Marathon and Not a Sprint
The advice that Stuart gives his student is that to be successful online and consistently make good money is ‘more of a marathon and not a sprint.’ The most amazing thing about making money on the internet is that you can change your life in 6 – 12 months. Literally, change your life.
Within 6 – 12 months of starting online Stuart was earning multiple 6-figure incomes. He quit his job 6 months after getting started and was living life completely on his own terms.
When you get started online you are working your business around your job and 6 months feels a long time. You have to be realistic and ask yourself, “What is the end result I’m looking for?”
So may people make the mistake of rushing and not making very well-informed decisions. Because of this they end up ‘chasing their tails’ for months and sometimes even years.
So if you are somebody like Stuart who wants to make a decent amount of money on the internet and don't want to have to keep restarting or ‘chasing your tail’ then take the advice that Stuart gives.
How Quickly Can I Make Money Online: The Foundation is Important
You need to spend some time acquainting yourself with the foundations of the business you choose. So, don’t go out there trying to make money in the shortest time frame. Spend some time on the basics.
You need to get yourself in a situation where you really understand the business model and the different products that you'll be reselling as an affiliate. Get yourself in a position where every time you turn on your computer or laptop you know what you are trying to achieve.
You do not want to be a ‘headless chicken’ running around in circles repeatedly saying, “I want to make money. I want to make money.” You need to feel confident in what you’re selling and the commissions that you could be earning.
You also need to feel confident in the people that you’re working with and who are teaching you, and the actions that you’re going to be taking. That usually takes about 3 – 6 weeks.
The first thing that Stuart says to his students is, “Have no expectation of making money in your first three to six weeks.” This is because if you do and this is what you are trying to achieve then the chance is you will be skipping steps and cutting corners. This will end up with you having more frustration later on.
With all that being said, after your first 3 – 6 week period online you should be in a situation – if you’re working with the right business model, the right mentorship, and the right community – to feel confident that you are in a position to write your own paycheck and make the kind of money that you are looking to earn.
This will fuel you with the confidence to actually do something that is called spending your time on “money-producing activities.” A lot of people get stuck in education mode and go out and subscribe to all different email lists. They go out and learn from 10 different people, 15 different business models, trying to make money ‘here and there.’
This results in them restarting and quitting all the time. This sort of behavior is like being on a ‘hamster wheel’ and ‘chasing your own tail.’ This causes long periods of frustration and a lack of results.
Understand the Business Model
What Stuart says to people who are serious about making a six-figure income is, “The First thing you have to do is understand the business model.” You really have to grasp this. It is essential to understand the business model you have decided to work with and also understand why you have gone for that business model.
Stuart has always decided to work with systems that offer high-ticket sales. This is because if you’re serious about making a significant income you need to be in a situation where you can make that significant impact with only 1 or 2 sales. Trying to make a full-time income selling $50 eBooks or by making small measly commissions is very challenging.
If you have already started with SixFigure Mentors (SFM), Stuart suggests getting stuck into Module 1 in the back office and really learn and understand the principles behind the business model. Residual income is included in this business model as well as high-ticket income.
Have a Vision
Then you can get into Module 2 and get your ‘business system’ set up. Select the types of products that you’re going to be selling with a full understanding of the vision that you have for your business.
Having a vision is of the utmost importance. It’s far more important than setting individual goals. The thing is, we’re all going to hit goals and we’re all going to miss goals. That’s just the way of life.
But if you want to be successful then you cannot avoid having a clear vision. The reason is that if you are very clear on your vision, ie.. “I want to make $250,000 online. I want to be able to do it from anywhere in the world. I want to be able to work from my laptop and provide a better lifestyle for my family.”
You need to really get clear with your vision and you will then find a way of achieving the targets you've set yourself. This is why a lot of people talk about having ‘vision boards’ and getting very clear on how they see their future.
If you are just getting up in the morning and thinking, “How quickly can I make money online?” you will find that your motivation will drift if you don't have immediate results. You will put yourself in a situation where you are ‘dipping and diving’ and ‘chopping and changing’ because all you’re trying to do is get a quick result. This is not the way you want to play it.
Assuming you want to make a significant amount of money online – 6-figure upwards – then take your time to select the right business model and choose carefully the people you want to learn from. Look for a strong and supportive community (SFM has an amazingly strong and supportive private community in the digital marketing and personal development space).
Get involved in a Community
Get involved with individuals and make friends online with people who are trying to achieve the same thing as you. It’s not just all about learning from the ‘Guru’s’. Learn from people that are actually getting the small wins themselves.
Stuart makes the point that many of his students learn some very important aspects of marketing from other members in the SFM Community rather than from Stuart himself. This happens a lot in the beginning stages. This is because they are ‘out in the trenches’ facing the same challenges every day as other people just getting started.
Stuart understands what’s required to run his business as he’s been doing it for over 10 years now. He’s got very good at putting together sales funnels and generating quality leads. This is something he can now do almost with his eyes shut.
But it’s not going to be like this when you first start. Stuart and Jay Kubassek (co-founder of SFM and DEA) as very experienced and successful online marketers can guide you and point you in the right direction but being around other people who are trying to achieve similar targets to you is often more beneficial. This is something that you will experience with the Six Figure Mentors private community.
So, do not forget to take your time. Take 3 – 6 weeks in the foundation stage and choosing your business model and the people you are going to learn from. The start to move towards the ‘money producing activities.’ Do this and it is not unrealistic to completely change your lifestyle within a 6 -12 month time period, which relatively speaking is amazing.
Think about this in a traditional career. People will work their ‘butts’ off for 12 months for a 1% – 3% annual pay rise. That’s pathetic. With your own business online you can give yourself a pay rise of thousands of dollars per month with the right business model and the right work ethic – scaling and working smarter, often rather than harder.
So when people as the question, “How quickly can I make money online?”, advise them to take their time and carry out due diligence. Find the right people with integrity who have the right business model and the right environment for you to thrive.
You can then turn on your computer with a clear understanding of what you will be doing that day to make money rather than being in education mode for months and months where you are trying to learn too much all at once and spreading yourself too thin.
Get things right with a business model that sells high-ticket products and services, and the right community for support and advice and you will have the realistic potential of earning a significant income online.
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