Key to Success In Internet Business
The number one key to success online is focus. Are you focusing on achieving your goals while eliminating all the distractions online (there are many shiny objects to pull your attention away)?
But the real question is what are your goals? And to get deeper into the heart of the matter…
What Does Success Mean To You Personally?
Here’s the funny thing. We could have several dozen people comment…and the likelihood is success would mean something a little different to each person reading this.
Does success mean earning a million dollars a year?
Does success mean owning your home debt-free and a large RV where you can travel the country?
Perhaps success means you can travel to two dozen countries this year?
Maybe success is earning enough to pay your simple bills while you get to spend time home schooling your children?
Maybe success is having time to spend down at the homeless shelter helping out because your bills are already taken care of?
Or perhaps success is simply being able to do a job you love and are good at?
Maybe it means working a few hours each day to finance your free time of hobbies and other interests.
So What is Success to You Personally?
That’s the first question you have to answer. Because unless you know where you’re going, how could ever plan to get there?
Let me give you an example of a mistake in coaching others I’ve made at times in the past in regards to this.
One of my personal definitions of success is to have work outsourced and have NO in-house staff. I don’t want in-house staff. Period. Because that is a portion of my priority for success, at first I translated that same qualification to others when coaching them. I was wrong.
I found several clients DEFINITELY want in-house staff. They love staff that works in a office with them. One of their definitions of success is a fast growing company with team members working together in an office environment. If I tried to enforce my definition of success on them, it would cause them emotional pain.
What good is it to build your business around someone else’s definition of success…including mine?
One aspect I’ve found is that:
Success is not a destination. It’s a journey.
Your definition of success will change in the future.
For me in the very beginning of my online business, success was simply defined as GETTING OUT OF DEBT and being able to pay my bills (all my jobs up until that point didn’t even pay enough to make a living).
As you can expect, my goals and my definition of success has expanded since then.
My next definition success became, “Creating enough passive income to pay all my monthly bills without having to work.”
Then…it expanded to, “Creating passive income streams WHILE ENJOYING the work I do.”
Then it moved onto, “Creating low hassle income streams while helping others create Internet lifestyles and enjoying the work I’m good at doing.”
Notice how in none of those really mention a specific amount of money. Obviously my definition of success includes having more than enough for myself and to give to others, but I FOCUS more on how the money is generated than I do on the overall amount. Am I having fun while doing it is more of the key now. For example, coming to me and saying, “I have a way you can make an extra $25,000…” doesn’t even catch my attention (partly because everyone tries that pitch). But if you came to me and said, “Here’s a way you can have even more fun in your business…” you have my attention.
In addition, I added in that balance in the rest of my life is just as important. This includes relationships, exercise, playing with my dogs, eating healthy (somewhat healthy, OK maybe just healthier 
. It includes finding and following my purpose/calling from God.
In the beginning, I just desperately wanted to be able to pay my bills. That was a VERY STRONG motivator. Creditors calling you all the time can do that…give you a sense of desperation. Working 12 hours a day – even if I hated every minute of it – was OK. If that was what was required, fine. But that motivation eventually went away BECAUSE circumstances changed.
How do you stay motivated? You expand on your definition of success.
Your own personal definition of success grows over time…and it is more than just one simple answer. It incorporates your entire lifestyle.
Once you DEFINE success, now you can start building your plan for moving towards it…following your journey of success.
No wonder so many people are “lost in internet business.” They’re trying to make a journey without knowing where they’re going. I’ve learned enough from working with clients now that I have to find out what their definition of success is…and what they really want. If you try to build the business based off a model and plan they don’t enjoy, they’ll never have the dedication and committment necessary to see it through.
With every business decision…ask yourself, “Does this fit with my lifestyle goals?”
So the big question is what does success mean to you? Feel free to post in the comments about this…and your opinions on the subject. If everyone were to post their definition of success, we’re likely to see dozens of different answers (and they’d all be right answers for the individual who posted them).
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18 Responses to “Key to Success In Internet Business”
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Terry –
This is a very good post, as always, although I think one point needs to be added:
Do not spend so much time trying to find the “perfect” answer to this question that you don’t get started. You yourself wrote in the October newsletter about not waiting to have everything perfect before you start marketing on the Internet or you’ll most likely never start. Trying to come up with the “perfect” answer to this question could have the same paralyzing effect on some people.
Phyllis Zimbler Miller
http://twitter.com/ZimblerMiller
Thanks Terry,
I can’t agree with you more.
I found success in my businesses when I “FOCUSED” on:
1. Making my product/service deliver more value than the competition.
2. Use PPC marketing to get in front of the people who are buying what I sell.
3. Worked on ways to get my offer to convert into sales better.
Those 3 things are a great foundation for every internet business that I’ve been involved with.
Focus on these three things in that order if you can and you’ll be happier with your level of success.
Thanks again
Jeremiah
Phyllis: I agree completely. That’s why I said it changes over time (because it does). You just need to get the focus on what you want out of your business and start moving that direction.
Jeremiah: It’s always about focus. Focus on the right activities (good offers/value, traffic generation, and conversion).
Great post!
The odd thing about it is, I was just having this exact conversation with my wife when I got the email about your post.
We have noticed that when we say to ourselves, “this is what we want to accomplish” and then figure out how to accomplish it. The how part changes, but our intention of what we wanted to accomplish always happens.
If we need $8,000 to go on a trip and we think doing x, y and z will get us the $8,000, what most of the time ends up happening is we don’t get the $8,000 from x, y, and z – but we somehow still get to go on the trip regardless.
Most recently, we needed $7,000 to accomplish something, and our new product launch only brought in $1,100 in the first week, but events took place that still allowed us to accomplish exactly what we wanted.
Again, great post! It’s absolutely true and has deep implications for a successful life as a whole.
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Thanks, Terry, for this post. It is interesting to note that other goal-setting theorists affirm a similar approach, but stated differently: (e.g.) Masterson: wealth, health, self others; Ziglar: similar. An interesting take is Gary North’s: the first objective test of success is whether one’s name is written in the Lamb’s Book of Life! That is, of course, a non-temporal definition; temporal matters, as you have rightly stated, vary from one person to another. Everyone needs money, but it is the love of it that is the problem. I suppose that is why it is (ethically) healthy to have others as an essential factor in your goals – to give of your time and skills, and see others benefit. Otherwise, money and things are a downright bore. As an economist, money is simply an indirect exchange commodity, an intermediary that facilitates the exchange of value between agents.
Great article.While focus is a great part of getting to success,actions speak louder than words. So many people are focused that they are slow on the action part of the equation. I think it was one of the guys from Chicken Soup for the Soul who said that they did five things a day to get to where they wanted to be. It took a year and a few months but now they sit on a huge book empire. Thanks again Terry. By the way hows living in Florida working out?
Indeed it’s a journey. And it is not easy the first time. It’s like accelerating from first gear and burning lots of fuel. Then, you just glide! And it doesn’t stop there… There are still rough spots but since you “now know better”, you can deal with it nicely.
I love your post!
Michael: Very good point. I’ve seen the same thing in business. It’s rarely Plan A that takes you all the way to your goal. Even if we just count the internet business side, a lot of changes happen during the journey to the goal…but you still reach the goal. You have to be able to roll with the punches and modify the plan as you go.
Troy: I agree, money alone is NEVER motivating enough long term. For those who’ve never had any, they may say it is…and it is for a period of time. But once you get it, you see how lacking it is alone.
Paul: I really think that people who are focused take action. They may claim their focused, but if they’re constantly looking this way and that way, but not DAILY pushing toward their goals, I don’t feel they are really focused at all. We’re really loving Florida. It’s October now so its cooling off and wonderful here while Indiana has been freezing cold from what I’ve heard. I’m having an inground pool installed now that we’re have a good time with next year.
Menandro: Agree. It’s tough to get the engine moving. I think it’s similar to the space shuttle launching. The hard work is getting the momentum and getting moving. Once you’re up and things are going well, it’s much easier to go from level to level in your online business.
I loved this and thinking about your definition of success I would agree that my definition of success would include becoming increasingly free to define my definition of success.
Terry-
Very good post. I would agree with you that SUCCESS is very subjective, from my 10+ years providing goal-setting and strategic planning for private industry and individuals. Not one size fits all.
I recently wrote an article on the definition of success-that your readers may find informative. I am not ging to recite word from word, but think about the actual letters that spell the word SUCCESS:
SERVING:
How much in your life is reflected in serving others first before your own needs? How well do you serve your family’s needs, or the widow down the street? Are you a constant taker or do you genuinely serve others willingly and contribute?
UNDERSTANDING:
How understanding are you of others needs, circumstances and situations. If you see somebody on the street in need, do you pass on by thinking someone else will take care of them-or do you stop to see what assistance you can provide in trying to understand not wanting to get involved…?
COMPASSION:
Are you compassionate to your spouse’s and or families needs and circumstances? How do you measure up in this area? How do you measure up being compassionate to others either in your neighborhood, village or work/office setting?
COMMITMENT:
How committed are you in being there for your family, your spouse, your parents, or your friends? Do you put your words into action, by doing, getting involved in trying to help others or do you just talk without action?
EMPATHY:
Do you should genuine empathy and concern for your spouse, family, others that you come in contact with and associate with? Or do you try to avoid getting involved at all thinking and hoping someone else will help?
SINCERITY:
Do you demonstrate a genuine spirit of sincerity in your actions, or are you quick to disengage yourself from any involvement whatsoever?
SELFLESSNESS:
Are you genuinely concerned and put others needs and priorities ahead of your own? How do you measure up in this area of your life in truly putting others need ahead of yours? Only you and God can answer these questions.
It’s your Attitude not your Aptitude that determines your Altitude in your life…..
Remember: “The only Unfulfilled Goals in Your Life are the Ones you Never Attempt”
I’ve always liked the the definition of success throughout the Holy Bible. The word “prosperity” can mean so many things throughout the Scriptures depending on who said it, when it was said, and the context of events around it. Many times, the word prosperity translated means “Success”. But then if you go a step further and translate the word “Success” it often times means “The accomplishment of good” or “To achieve good”.
So stands to reason that a successful person is always doing good. I think doing good is the key to your success. It gives a whole new meaning to the Scripture that reads, “Whatsoever a righteous man puts his hands to shall prosper”.
It means a lot of things to a lot of different people. But by definition, it means that the righteous man is always putting his hands to good works. It means that what he is doing is good. In your business, if you are blessing people, you are doing good. You are prospering everything you do.
Terry seems to do a very good job of this. By your honesty, integrity, willingness to make your truth better than all of your competitors lies — it makes you prosperous. And come to think of it…
Everything I see of him is prosperous. Always doing good. BTW, we all greatly appreciate your goodness. By you doing good, we do good
There’s an awesome book we’re studying in my church about being called to love. It says this about the definition of success…
“Success means making where you are a better place because you were there”
I love that definition. That’s what success means to me. At least, in part. Success FOR me though is a totally different story.
Some people just get too worked up over the “meaning” of success. I hate when people make me feel pressured to expand my business to a level I’m uncomfortable with. I don’t want my business to be my life. Making a trillion dollars but needing to spend 23 hours a day worrying about the business counts as a failure in my opinion.
Excellent post. It would be helpful for internet marketers like me. Commentators also provide more ideas. Thanks to all.
Good article.
Case and point:
Had one of my best friends brother tell me once, that I worked hard at the businesses he saw me get into, but the problem he saw with me was…. “Focusing On One Thing” ……………
After reflection on what he said to me, I decided to take action on his observation of a flaw in how I went about building a business and why I having a hard time at succeeding in any of them, and that was………………. Focus!!!!!!!!!!!!!!!!!!!
By the way due to me taking his advice and acting on it, which was by the simply not doing more then one business at once and just focusing all I had into one business, I finally experienced a certain level of success in MLM and boy was that a wonderful feeling.
From then on I learned that Focus was the key in succeeding in any business venture that I would get into. You see I do believe in multiple streams of income still, but with first focusing on one at a time and making one successful before moving on the next.:)
My definition of short term success is:
* Freedom Of Time
* $10k Passive Monthly Residual Income that will keep coming in whether I am working at the desk or not, whether I am ill or not, whether I take off to travel and see the world for 6 months of 1 year, etcccc
* Not becoming a 24/7 slave & hostage to my business, whereby income is being made whether I am working or not, it is a form of automated hands off passive income.
* Being able to help my daughters financially and their kids
This freedom of time:
will allow me to travel and see the world when I want without worrying where the next dollar is coming from.
will allow me to go take classes in flying, mambo classes, going out dancing, spending more time with my grandchildren etccc things which I have an interest in or things that I develop an interest in and now have the time and money to do it.
Thanks, Terry. You’re right about the definition of success changing. Life has a way of doing that.
I also liked your post. To Wayne, I liked your comment as well.
As i see in the comments, everyone has a different view of success to them. And I also have my own. no 2 lives are the same and no level of success is the same.
Personal commitment and dedication to your own goals is what will get you there I think
thanks
Jay
You can now take the keys one after the other as you proceed. The number one key is discipline. You must be discipline for you to succeed in an online Internet business. The level of discipline required in an online Internet business is more than the level required in every other business.