Often, we believe that if only we knew “how to” do more–more blogging, more Tweeting, more SEO or social networking–that our business would be successful.
But all the “how to” information in the world won’t help your business succeed. Your own ingrained beliefs are stopping you without you even knowing it. In fact, the biggest obstacle to your success (I hate to say it) may be you.
We all have a set of beliefs about how the world operates. We form many of these beliefs to protect ourselves: we know that a fire will burn us, for instance. But there are some insidious beliefs–perhaps beliefs we don’t even know we have–that can seriously damage our earning potential.
One belief that is incredibly common is the belief that money is scarce–that there is only so much of it to go around. I was reading a friend’s blog recently and came across this paragraph:
“In the end, there is only so much of the almighty dollar to go around…somebody has got to sit in cattle class and it isn’t always the lazy arses. Quite often it’s those people who are ‘making stuff that matters, even if it seems stupid because it feels good and important.’”
Whenever I read, hear, or see someone say that, I know they’re broke.
Is Money Truly Scarce?
Scarcity happens in real life, and it starts at a young age. Your parents probably told you “no” when you asked for something when you were younger. Maybe you reached for that last can of soda in the fridge or apple on the counter only to find out it was gone. You wanted another helping of dinner, but it wasn’t available…the bowls and plates were empty.
That’s scarcity in action, and it’s easy to think that applies to money, too. For someone to be rich, someone else has to be poor, right?
Not at all.
Money is being created and distributed all the time. (If you want the technical details, read up on fractional reserve lending.) Our world has more money, that is worth more than it ever has been before. We live in staggering luxury compared to those only 50 years ago.
Consider this:
In 1950, only 9% of U.S. households had a TV.
In 1970, less than 1% of households in the U.S. owned a microwave.
In 1990, only 0.25% of the world population owned a cell phone.
This year, in 2010, only 26.6% of the world population will use the Internet.
We are unimaginably rich. And the best thing is that the trend will likely continue. There is no shortage of dollars to be earned (or spent!)
Who Are The Unsuccessful People?
I tried coaching people in a monthly program in 2009. I launched quietly–most reading this wouldn’t even know I did it. I took 20 students. I figured I’d be able to easily help them see their first online success.
Some of my coaching students have done really well. But many floundered. At first I wondered what I was doing wrong. Then I talked to some other coaches, and found out this is pretty normal.
One of my coaching students, J, wanted to set up a blog and be making $10,000/month within 30 days. He stated to me in our first 1-on-1 call that this was his goal. I told him I appreciated his enthusiasm, but that his goal wasn’t realistic. I explained he would have to work hard, probably for several months, before he saw much income at all. And only then, after he pushed through The Dip, would he see any real success.
He dropped out of the program. It wasn’t the answer he wanted to hear.
I now understand why many people don’t make it in business. They assume that they can start with 2 hours a week of spare time and no previous online business experience and be making 5 figures a month online within a month or two.
That’s the extreme case. Then there are many more in the “fat middle” who muddle their way through it for about 3-6 months before giving up. In the first two weeks, they have huge enthusiasm. They’re ready to take this on! It’s going to be great! Amazing! And then they fizzle. Slowly but surely, they stop working on their projects. Their blogs fall by the wayside. They get preoccupied with the “next big thing”. They give up.
I can’t tell you how many people I know who made anywhere from $30 to $100 a month and then gave up. The number astounds me. What they don’t understand is that $30 a month to $10,000 a month or more is about 24 months in the making of figuring out the systems that work and replicating them. They only see $30 a month and give up, thinking it’s a waste of time.
So, the honest truth, is that those who “sit in cattle class”, as my friend wrote it, really aren’t lazy. They just give up too soon.
Or they have another harmful belief: They’re uncomfortable with selling.
“Sales is For Slimy People”
Going deeper, we find a strong concern with many budding entrepreneurs: that if you sell something to someone, they are left with less than what they had before. If you sell them a $20 book, they’re suddenly $20 poorer.
To get over this feeling, you just have to be confident that what you’re selling them is worth far, far more than the money they paid to acquire it. Perhaps the knowledge in the $20 book you sell them will enable them to make far more than the $20 they paid for it. Perhaps it will help them find the romantic love of their dreams, or lose weight, or be happier.
It’s that confidence that many of us are lacking. We write the story for our potential customers, making assumptions and judging them. We assume they can’t afford something, so we don’t bother trying to sell it to them. Or we remember other stories similar potential customers have told us about how they can’t afford it, and assume this potential customer is similar.
Here’s an extreme example: Your friend is dying from a disease. Coincidentally, you happen to have had this same disease earlier in your life, and you’re now cured. It took you a lot of time and effort to find the cure, but you finally found a $2,000 pill that worked.
Could you convince your friend to part with the $2,000 to save her life?
That’s selling.
If you wimp out on this question with an answer like “If it really worked, I’d buy it for her!”, I suggest you do not start or attempt to run a business. I’m serious about that point. Go find someone who wants to sell and work for them…or make it your #1 priority to learn how to sell to someone who truly needs your product.
Sales: The Key Ingredient to Success?
When you start a business, it’s your job to sell like your prospects’ lives depend on it. And, to take this even further, it’s an equally important job to only sell products that are really worth it to your prospects, in order to engender goodwill.
To take a recent example from my own playbook, I was comfortable promoting the crap out of Profit Instruments both here on my blog and to my email list. I personally reviewed Profit Instruments, thought it was worth it, and even offered amazing bonuses to those who bought through me to help people succeed. I really believe that if you follow the system in Profit Instruments, you can be successful online. (Note: I’m not selling it right now, because Profit Instruments is sold out. I write this because I truly believe it.)
As a result of my genuine belief in Profit Instruments, 183 of you bought it through my link. That is an incredible number. It’s so huge in part because I don’t promote something different every week. I pick a few things that work well and promote them hard.
I was a driven salesperson in the web hosting industry. The more commoditized and cutthroat the industry you are in is, the more sales skills matter. Contrary to popular belief, though, sales isn’t all about skeezy convincin’ and fast talkin’. The biggest sales skill is also one of the hardest to learn: listening. The key is getting to know your prospect’s story first and then fitting what you’re selling to their needs…and being honest if what you’re selling doesn’t fit their needs.
You must be a closer in order to succeed in business. That means, if your prospect really needs what you have to offer, you have to ask for the sale and then get them to take action. Sell something that matters and that will truly help your prospects. Get your friend in the hospital to buy the $2,000 miracle pill. Get creative if that’s what it takes. But close the sale.
Using Your Business Skills to Make a Difference
Lydia, one of my four foster kittens. I sell people what I believe in and what they want to buy. Then I use that money to do awesome things in the world, like help foster kittens. I partnered with a nonprofit no-kill shelter here in San Diego: The Rescue House.
Rescue House gave me four kittens that had been abandoned by their mother. I bottle-fed them, took them to the vet, and loved on them for hours at a time. I’ll have the foster kittens for a few more months, at which time they will go to a permanent, adoptive home. My goal is to foster another set of kittens again next year when “kitten season” comes up, as well.
The foster kittens are just one of my nonprofit, charity activities. Without sales skills, and without believing that what I offer is the best, I wouldn’t be able to fund these charity activities. (Kitten food alone runs $6-7 a day!)
The market speaks for itself. I wouldn’t get paid a lot of money to foster kittens all day. But the market pays a lot for products on how to make more money, so that’s what I sell. I don’t fight the market or beg for it to be different. I don’t whine about inequitable distribution of money. I simply sell what works, and use the money I make to feed four hungry–but very cute!–kittens.
Did you fail the “friend test” above? Buy this book and read it cover to cover: Getting Everything You Can Out of All You’ve Got: 21 Ways You Can Out-Think, Out-Perform, and Out-Earn the Competition by Jay Abraham. I’ve read it and it’s one of the few books I go back to again and again for business advice.
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25. June 2010 at 2:57 pm
Hey Erica
As usual, you hit the nail right on the head. Too many people are in this space because they think it is an easy way to make lots of money part time. They are taken in by the hype of the ‘guru’ products.
But, it is not possible to build a successful biz in just a couple of hours a day and earn bucket loads of cash. But, patience runs out because people are convinced it should be quicker.
It’s a shame but, unfortunately, the reality of the world today. Too much expected, much too fast
Keep up your great work
JON
25. June 2010 at 3:17 pm
Hi Erica. I’m a relative newbie to your blog, and I’m really appreciating your writing style and common sense approach to online business. Thanks for all the great content you’ve created and for making things so easy to find on here.
25. June 2010 at 3:32 pm
You’re raining on my parade, dadgummit.
I’ve coached in other fields. If you get 10% that retains *anything* after the “workshop high” wears off, you’re doing pretty good.
Fact is, most people aren’t coachable. They think they are, but they really aren’t. I know I’m not coachable – yet – in this space. Soon, but not yet.
25. June 2010 at 3:43 pm
Like Jean above, I’m also a newcomer to your blog, and am hooked on what I’ve seen so far (I’ve totally “stolen” a ton of ideas out of your really terrific ebook too for my own site LOL)! From my perspective dedication isn’t an issue…I’ve been at my site for six months and still going strong (although *le sigh* it’s a slow haul isn’t it). But actual selling…that’s the exact message and kick in the keister I need to hear, and you’ve phrased it in a way that keeps it in perspective.
Thanks so much, Erica! I’ll be keeping my eyes peeled for more of your great advice!
25. June 2010 at 4:06 pm
Great minds…or whatever. I compiled a list of the four greatest threats to a small business. “You” was number one, and not just for the reasons you list here.
Quick anecdotal story. A friend of mine owned a butcher shop for several years. He was very proud of it, sold a high quality product into a niche market (dry aged meat) with zero competitors. He’s out of business now. Not because of competition or economics. His wife left him. They created the business together and when she left, all the heart went out of it.
It was sad to see this energetic and excited man sitting in front of his store, staring into space, dreading the idea of walking back in.
That’s what kills businesses. The owner’s passion dies – for whatever reason – and the business dies too.
25. June 2010 at 4:23 pm
I don’t think that 99.9% of people are committed to success in any endeavor. There’s such a world of difference between someone who’s merely interested in or would really like to have something than being totally committed to succeed – no matter what the cost. One of the key things to me is that you must really, really enjoy something about the process of what you’re doing. Even enough that you would do it without pay.
As far as sales goes, I don’t know if people realize just how enrolling they can be by doing nothing but being enthusiastic about something. And if you don’t have enthusiasm for a product or service, you shouldn’t be selling it.
25. June 2010 at 5:29 pm
I’ve been at my website for 6 months now, and it is hard not to chase after other ideas that seem to come up all the time. I think a plan is essential – just like the one you have, Erica. You know exactly what projects you will do, when and how to measure if they are successful or if they should left for a different, potentially more successful idea. I’m developing such a plan for myself right now, so that I can measure and see if I’m on track, where I’m falling behind, what I need to refine . . . and to know when to walk away. Now I have Kenny Rogers singing in my head. I think having a good plan can lead to success or failure.
25. June 2010 at 6:09 pm
I know I’m the biggest obstacle – but I’m working on overcoming that! Thanks for the reminder & the inspiration to focus!
25. June 2010 at 6:54 pm
Erica,
I knew that you have brains, but now I know you have a big heart, too. Bless you for fostering those kittens.
I’m “mom” to our family of rescued kitties. Last year, my husband and I hand-raised two kittens that a neighbor found abandoned in her yard. They were one-day-old, with umbilical cords still attached. It was our first experience with newborns, but we learned a lot about taking care of them on the web, and today they’re happy and healthy 14-month-olds. If you have any questions about your babies, I’d be happy to answer them or help you find the answer.
Take care,
Nancy
25. June 2010 at 7:24 pm
Rescues kittens, wow that’s sweet! Understanding what you can and cannot control isn’t just part of the key to business but to life. I’m a former Peace Corps volunteer, and every once in a while I catch myself feeling sorry for myself and then I remember just how incredibly lucky I am. What I choose to do with that is all my own making.
25. June 2010 at 7:43 pm
Great stuff Erica! It really helps to have a bigger reason other than money when doing online marketing. Otherwise, the measly income in the beginning will definitely discourage you from continuing and gaining the needed momentum for your business. Thank you for the inspiration.
25. June 2010 at 7:48 pm
Check out my gurus… Abraham-hicks. Com
They “are” this idea you are speaking of today!!
26. June 2010 at 3:24 am
We grow up with misery about how important is to be realistic and we are not allowed to have dreams because they will crash.
Well, no one told me how to be efficient, productive, profitable! The absence of those make dreams crash!
BTW. Very good article!
26. June 2010 at 3:24 am
Ah yes, sales. This in my opinion is one of the main reasons why many of my colleagues in the so-called old media are having a difficult time surviving these days. They just can’t accept the concept of sales and marketing.They find it degrading, beneath them, slimy and self serving. Duh!
This is why I enjoy reading blogs like yours Erica. It teaches me to to be more entrepreneurial – which is what most journalists should be doing instead if complaining that bloggers are stealing their jobs.
And yes I did buy Profit Instruments (Even if I find it a bit pricey. Well I just have to pinch corners now, no more designer lattes) because I trust your judgement. Didn’t regret it. Im now in module 2, and Ritoban’s webinars are worth it.
26. June 2010 at 5:40 am
You got awesome and practical points there.
I realized a lot of things from day to day including some points that you mentioned above and it means we have to set our minds right with logic. And I agree when you say that sometimes the biggest obstacle to our success is ourselves. We determine it.
Thanks Erica for sharing!
26. June 2010 at 7:05 am
Erica, you pegged me pretty good.
Haven’t read where you’ve talked about “the Dip”, but I think I know what it means. And I know I’ve stumbled over something like it many times. Establishing a sustained, routine, productive stream of activity without succumbing to the momentum-halting spectres of “the Dip”–that’s the biggest challenge for me.
Knowing that they’re out there lurking does help some. But they’re so sneaky…
26. June 2010 at 7:39 am
I think this has a lot to do with the way our society has come to expect “instant gratification” in just about every area of our lives. We want everything NOW…and preferably without too much effort on our part.
Fast food (it doesn’t taste good or make you feel good – but it’s FAST), drive throughs (restaurants, banks, liquor stores, wedding chapels), magic pills to lose weight (Lose 20lbs in 10 days! Guaranteed!), and the magic bullet that will bring your blog/business fame and fortune. If there was a “magic bullet” everyone would be doing it.
I really appreciated your post today – it is hard to keep up the momentum after the first flush of enthusiasm fades, and I’m struggling with that myself.
26. June 2010 at 9:17 am
Erica,
You have wisdom beyond your years. Having the right money mindset, becoming a person who gives, being willing to invest money in yourself, being grateful for all that you have already, and persisting through the difficult times, are all examples of sage advice. Thanks for sharing your experiences with us.
26. June 2010 at 12:46 pm
When I was 17 I stepped into sales and met so many slimy salesmen. It tainted my view of sales until a few years ago.
But I can’t imagine being as prosperous as I am now without changing that view. I look around and can’t find anything that hasn’t been sold to someone at some point!
I also think most people are allergic to hard work. It’s so much easier to live through the accomplishments of other people through the TV. Success takes woke, but it’s tastes so much sweeter because of it!
Thanks for the post Erica
27. June 2010 at 3:22 am
Hi Erica,
great article!
I read your blog from time to time and like your articles. And I recognize myself in this one. I was able to build up quite successful blog in my native language about a particular niche. It took a lot of time and I did not expect to work on my blog only 2 hours per week.
But…
I was soooo busy with creating content and marketing the site that I did not have enough time to sell my work properly. I just did not find the balance between making my blog grow and making a profit on it.
So, I absolutely support your idea about the importance of selling one’s content/products. It is really important and necessary for the good future of any business, even blogs.
You may have a great product but you have to “force” people to buy it. Otherwise you will close your business soon definitely.
27. June 2010 at 6:38 am
I agree that sales generally have a negative connotation, especially to relatively new entrants into the work force. I remember a few years back graduating college, when I asked most friends what they wanted to do or what positions they were looking for. Most said something along the lines of ¨anything but sales¨. They (and I) had the image of the man with the suitcase who constantly pesters family and friends to buy products they may or may not need, solely to earn a paycheck and move up the ladder. Now, I realize that the most zealous and successful salesmen (my father, come to think of it) passionately sell items or services they believe their customers need or would greatly benefit from.
27. June 2010 at 10:03 am
You make some excellent points, Erica.
I’m afraid that sometimes we can be our own worst enemies.
28. June 2010 at 4:58 am
Thanks Erica – another spot-on post!
I have been doing a lot of listening and reading on the subjects of both Neuro-Linguistic Programming and The Law of Attraction – and these are really helping my changing my beliefs and my daily behaviour.
Thanks for writing about abundance and limiting beliefs.
All success to you and to all my fellow readers.
28. June 2010 at 5:13 am
I definitely love this blog, great job in here. I actually have heard about some people who made it with either their online and offline business. I was kind of thinking that their success could be somehting innate from them, a natural businessman in them but after reading your write-up, I am positive that going to a business school is not always an assurance that you’ll make it with your business. Perseverance,right attitude and knowledge; all these are what could make a good businessman in you.
28. June 2010 at 11:29 am
Erica, this a write up well researched. i enjoyed the flow of writing and analysis.good work erica. The number 1 reason for failure is a lack of self believe in oneself. many of us all set too much lofty goals that are very unrealistic and wen we can’t achieve it we give up. the way to success is to set up little short time achieveable goals that we can accomplish with 2-6months and when that is achieved, there will come motivation to explore more grounds and break up more challanges. Actually there is enough money to go round the world but it will never go round because as sad as it is there will always be people who would do things wrongly and not learn from it.
28. June 2010 at 3:16 pm
Erica, simply put: delightful read. Love the way you put it.
28. June 2010 at 7:46 pm
Unfortunately, I know this all too well. I recently re-branded my biz and I now realize that I stayed with the original concept WAY too long. And, the reason that I “toughed it out” for so long and did not achieve the desired success was, in large part, dus to ME and my own faulty thinking and resultant behavior.
But, not to beat myself up – I’ve got a new attitude (like Patti Labelle) and I’m moving forward!
Although I am going thru some challenging times, I take solace in the many ways that I am blessed and for God’s abundance, which is without limit.
I am grateful to learn from folk like you and so many others who gladly share their wisdom and experience – so that we all might prosper.
I am so thankful for the love of friends and family and just the small things in life – taking a walk and the joy of a good yoga stretch. I know that that my “light and temporary afflictions” are just that – and this too shall pass.
It is sheer blessing to be a part of so many supportive communities like this one, filled with folk like all you you who are all striving for success in our lives and for our families.
Peace and blessings to all!
28. June 2010 at 8:57 pm
Great post. I have been absolutely struggling with my current job. Huge company with a ton of money to be dispersed and I am seeing none of it. I know its time to get back to the drawing board and re-evaluate my strategy of how I attack all of it as an individual employee.
I do not plan on giving up too early. Going back to the drawing board is not quitting. Just time to get smart.
29. June 2010 at 9:35 am
Erica, as always thanks for an insightful and honest post.
You’ve hit on a few key points for me, including the notes about being willing to sell. This is something I’ve struggled with, especially in light of my own opinion of ‘sales-y’ people, but I’ve found that the more aligned and passionate I am about the products I’ve written, the more easily all of that comes…I simply need to focus on the value of the help I’m giving, not the (small) cost to the customer. I love helping others overcome their own limiting beliefs, and that is what I do…and I have YOU to help me overcome mine, so thanks!!
xo ~ Shauna
1. July 2010 at 7:49 am
Hi erica,
Have been reading your articles all the time and each time you write an article you inspire and thanks for this one that has opened my eyes that am an obstacle for making miracles to happen in my life. thanks a lot
6. July 2010 at 6:08 am
Hey Erica
You know that’s such an accurate statement. As an entrepreneur, you’re either the biggest or weakest link, and it shows in time in terms of profitability and sustainability. I think it’s always a mindset and an attitude thing, as one’s attitude to business and entrepreneurhood will make a substantial difference in the service rendered.
For example, I have staff who are with me purely for the money. They seem lacklustre in the service delivery, and it shows in the way they carry themselves and do their work. On the other hand, I have the late-coming-mistakes-making mavericks who manages to almost always makes my clients smile, and participate actively in therapy. What can we do? I think, on one hand, as business owners we can count on people to be very different in the way they carry themselves, and we can always employ the 80/20 rule to sift out those who are not so good.
On the other hand, we can use it as a reflective tool, like just recently I lost a contract to another vendor – i took the opportunity to evaluate if I have in any ways contributed to the lost, and what I could have done. And change whatever needs to be changed.
In the world of business, it’s good to have a abundance mindset as opposed to a scarcity mindset. Interestingly, with an abundance mindset, there always seems to be an ‘abundance’, perhaps the mind does work wonders like that was written in the Science Of Getting Rich and As A Man Thinketh.
Nonetheless, I agree with you – let’s dream big and live big. =)
Nigel
6. July 2010 at 1:37 pm
Hi Erica!
I am what people call a “newbie” to the online community. Although I have had an email address for quite some time, that’s about all I knew.
I have, however, in the last year, spent an enormous amount of time online reading everything (well…everything that sounded slightly successful) that I could find regarding web businesses. Realizing the jargon is a whole encyclopedia unto itself, I have also spent money for courses, believed some of the hype, paid for coaching, made many mistakes and faux pas, and reached a point where I have been somewhat paralized in not knowing in which direction to go next.
I am my own worst enemy. I don’t want to make any more costly mistakes, in both time and money. So I find myself in Analysis, Paralysis!
You, however, have been a bright spot in my research. You seem to have the uncanny ability to hit the nail on the head time after time with your insightful comments, tips, and encouragement.
I am, now, disappointed that I didn’t join you last month as soon as I received your email regarding Profit Instruments. What was I thinking??? Is there any chance that there is still a spot left.. or shall I just kick myself right now…???
Thanks so much for making things easier for us Newbies to understand and who are trying to figure out how to navigate the sharkfilled waters of the Net, learn a new language, survive the cuts, and not drown financially in the process!
All the Best to You
and am looking forward to your next posting
Susy
22. August 2010 at 10:11 am
Persistence really is key. Everybody should give it a go for 12 months.
The Yakezie Alexa Ranking Challenge was my way to help bloggers stick with it, b/c it is a 6 month challenge. If they can be consistent for 6 months, they’ll move ahead in the rankings, and build relationships to help them sell whatever.
Best,
Sam