Think Pennies…Get Pennies

written by BlogEx on May 6, 2008 in Make Money Online and Motivation with 14 comments

How much money are you making on the internet?

Chances are, it’s right around the amount you think you are capable of earning. Call it the law of attraction, a strange coincidence, fate, whatever you want, but the results you are getting right now are exactly what you are thinking about.

When you are looking to start an internet business or a new website, how are you planning your business, specifically the monetization of the business? Are you thinking about things like “If I can get 500 people to my site per day and if 5% of those people click my google ads and I make $0.15 per click, I’ll be making $3.75 per day”.

Or maybe you say to yourself “If I can just sell 4 of these 125×125 ads at $25/month, I’ll be making $100 per month”.

You probably don’t even realize you are doing it, but you are limiting yourself based on your thoughts. You have to stop thinking in pennies if you want to make real money online.

I think entrepreneurs online have this mindset that the internet is “different” and there are certain rules that limit you from making the amount money a real business can make. That’s complete nonsense.

The minute you start thinking about your website as a REAL business is when you will start to see a drastic change in your income. I think part of the problem is, most people who want to try to make money online do not know how the real business world works.

Ford, Coca Cola and AT&T each spent $35 MILLION just to advertise on American Idol this year and Ford alone spends $150 million per year on online advertising campaigns.

A single ad in the yellow pages (which almost nobody even uses anymore) will cost a company up to $30,000 per year for one full page ad!!

A billboard advertisement can costs about $800 per month. Who ever responds to a billboard ad anyway?

National TV commercials can run into the millions of dollars for airtime…

…And you were stressed out and feeling doubtful that you could sell 4 ads for $25 each on your website?

What you need to do is convince yourself that you are WORTHY of being on the same playing field with real businesses and that you shouldn’t be settling for a measly $0.39 per day in adsense income or $20 per month for an ad on your site.

Don’t be afraid of selling products and services, and don’t be afraid of charging a premium for these products and services.

This really hit me like a ton of bricks once I started seeing success online a few years ago. When I was first starting out, I bootstrapped my startup business to the extreme.  I didn’t spend a penny more than I had to for anything related to my business.  I *thought* everyone felt this way when it came to their businesses too.

BIG MISTAKE!

Once I started making about $5,000 per month with my web businesses, I realized I could boost my business by buying things that would make me more money. I could buy tools that would increase my productivity. I could hire someone to design my logo for $50 rather than me spending 8 hours of my time making one just so I could save a couple bucks.

My mindset had completely shifted with the more success I had. No longer was I squeezing every penny I had in my business. After my mindset shifted was when I realized THIS is how bigger business owners must be thinking. They aren’t cringing over the decision of whether or not they should spend $500 on a training course to improve their skills. In fact, if they have two choices with one being a $500 training course or two being a $29 ebook course, most would opt for the $500 course because it MUST be better since it costs more.

Even if the material is basically the same, the only difference is the mindset of the person or company selling the course. One person is thinking BIG (and making $500 a clip) and the other is thinking small (and struggling to make any decent money with their $29 ebook).

If you are very cost concerned (nice word for frugal), keep in mind that not everyone else is. Just because you wouldn’t spend $400 per month for an ad on a website doesn’t mean another company won’t. In fact, if you are ONLY charging $400 per month for an ad and you offer the ad space to a large company like Ford for example, they won’t consider the ad because it’s too cheap! They have a mandatory and preset ad budget to spend each year on advertising and marketing, so they can’t waste their time on $400 per month ads.  It would take forever to split up that $150 million ad budget at that rate…

The next project you think about, try thinking BIG and see what happens.  Focus all your thoughts and energy towards that big idea, that big income and that big website traffic. I think you’ll be pleasantly surprised with the outcome.