Some of My Mistakes in Making Money Online

If there were mistakes to be made in making money online, I’ve probably made them but I’ve also learned from them as well.  Over the next several days I’ll provide some insights into some of the mistakes I’ve made and what I’ve done to counter them.

Making money online is no different than any other business venture.  There are costs and risks associated with it, there will be successes and failures and there will be some things that work better than others, depending on your “customer” base.

One of my first mistakes in starting up online was misjudging the amount of time it would take to build a successful and profitable website.

Even though I knew the difference, I thought I could build a site, add content, throw up some ads, add some links to my affiliate sites and sit back while the money rolled in.

I was wrong.

Building a successful and profitable website requires a whole pile of effort and if anyone tells you otherwise, they’re lying to you.

The formula for building a successful and profitable site and for making money online is relatively simple.  However, the amount of effort required to establish a site, rank well in the search engines and make money on a continual basis is enormous.

Don’t let anyone tell you otherwise.

If you were to listen to many of the big names promoting making money online such as John Chow, Jeremy Schoemaker and Darren Rowse, you would be pretty much led astray by their “make money online” techniques they keep promoting (selling).  Such successes are possible but it comes after months and months of work.

Building my sites, developing content, playing with SEO techniques, and monetizing the sites and growing my affiliate markets took way more time than I had estimated.  I soon realized I grew my online real estate way too quickly and never had enough time to do justice to my entire network of websites.

Another mistake I made early on was in my style of writing.  I was more interested in writing to attract the search engines rather than writing for my readers.

In looking back at some of my content I can now easily see why some of my sites had a very high bounce rate.  Visitors came, read a few paragraphs and left.  I was not successful in converting one-time visitors into return visitors.  I was not successful in converting my visitors into a revenue stream and therefore lost many opportunities to capitalize and build relationships with my followers.

I’ve since changed my approach and have taken a much more social approach to my articles and my sites.

This doesn’t mean I’ve abandoned sites built around content developed to attract the search engines.  I have sites dedicated to pure content and these do quite well in attracting traffic and converting this traffic into revenue.  I have other sites I’m developing a more social presence with and leveraging this social presence to attract readers and build a more respected blogging presence.

What are some of the mistakes you’ve made while building your online revenue streams and started making money online?

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About Barry Wheeler

Barry Wheeler is a blogger, novice SEO, geek and passionate Newfoundlander. Operating several successful websites and online communities, Barry has started exploring the social internet and its impact on all facets of society including personal life and business relationships. Find Barry on Twitter @barrywheeler and FaceBook or on his website Barry Wheeler - Blogging for Success.
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One Response to Some of My Mistakes in Making Money Online

  1. My mistakes? Well… back on 2007, when I began writing sponsored entries on my personal blog, I made them sound too advertising, and they kicked a lot of readers away. One of them also asked me “When are we going to read about your daily adventures and feelings again?”. That question made me ponder about the change, and I realized where I was wrong: I had lost *myself* in the process. Words on my site did not have anything of Luana anymore. Also, Google’s slap on my PageRank added to it.

    I still do that kind of entries nowadays, but they are completely integrated with my personal experiences and life, and they still carry bits and pieces of myself, not some random advertising slogan. I noticed that advertisers like that a lot, they seek my creativity, not my ability to write sponsoring content. They don’t want sponsoring, they want natural backlinks and personal opinions. Being myself brought me to build deep relationships with both advertisers and readers. Now, Internet is a warm home to come to, not a sterile, big ad panel like the ones we see in the streets. 🙂 I love the feeling.

    ~ Luana S.

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