MarketingSecrets.com Blog: More Projects = Less Profits

This is the 'secret formula' for making money online that most people just don't realize. I see many entrepreneurs making this mistake again and again and again.

I know, because I was once one of those people.

It happens everyday. We, as entrepreneurs, surf around the Internet. We visit web sites, read news, check out competitors ads, investigate new products and services of interest, and more.

And while we are doing all of this "research" something happens...

We get that thought once again...

"I could make money here."

And so off we go. We get out our notepad or make plans on our computer. We write up some ideas and details for our new little business that's going to make us a fortune. We get really excited for a few days and begin to wonder how we are going to spend all of the money that comes in from this new project.

But then it happens.

We find another potential moneymaker while doing some surfing. Then another. And another.

Yet, what actually happens is that we never really get anything done. We never really get these ideas developed and marketed. Therefore, these ideas end up making us... ZIPPO. ZERO. NADA.

If you haven't figured it out yet, there's more money to be made online by doing one thing GREAT than doing 10 things FAIR. Write that down. It's worth millions if you really grasp the concept.

If you take just ONE idea and fully develop it, you should have a BUSINESS on your hands, not just a moneymaker. With a real business you should be able to continously reinvest in it, and continue to grow your profits.

Everything you do online should revolve around you building a BUSINESS. You should be spending your time growing something everyday (like getting more affiliates for your products and services, doing more deals, testing more places to advertise, finding more keywords you hadn't tried before, adding more content to your site that the search engines can spider, and much, much more.)

If you're not making more this month than you were last month, or the month before that, you're doing something WRONG. Making more money online is EASY if you follow the simply philsophy of GRADUAL IMPROVEMENT. (Which is one of my favorite business principles.)

On a week-to-week basis you should be giving yourself a PAY RAISE by steadily growing your business and having it make more money.

But you CAN'T do this if you are constantly focusing on new ideas and "potential" projects. You need to STOP RIGHT NOW and just got off your butt and put the project with the best SHORT-TERM profit potential into action and see what happens.

If it makes any money at all, then you're next step is easy...

MILK IT FOR ALL IT'S WORTH!

I see too many entrepreneurs launch a new product or service and do well with it, only to move on to something else quickly. ARE YOU NUTS?

If you have ANYTHING that makes money online, there's a realistic chance that the same business can be making 5 to 10 TIMES what you're currently making. You do realize that right? Don't even tell me that you've exhausted every potential place to drive leads to your site. Because there's NO WAY that's true. The Internet is a gigantic place. Your business is only scratching the surface of sales you could be making.

So stop messing with so many "ideas" and new projects. Ideas themselves are worth JACK CRAP!

You do realize that a bad idea, that's at least executed and makes a little bit of money, is worth far more than the greatest idea in the history of the Internet that's never put into action right?

My advice to you is to take what you currently have that's making money and sitdown with a legal pad and a pen for a few hours (in a quiet environment) and don't get up until you can write down *100* new ways to generate more business for THAT project.

Then prioritize those ways in the order of which ones stand to make you the most money fastest -- and do those first.

Comments

John,

I've been doing one project for the past 4 months. I'm glad you're reinforcing my belief. I don't intend to switch or do other projects until I've milked this one. Actually I'll do it for life as long as it's making money and I'm enjoying it.

I was writing an article a few weeks ago on the same topic - but it's not finished yet. I might as well scrap it now.

Great Article John.

Alan.

Posted by: Alan Cheng | September 24, 2004 11:01 PM

Yup, yep, yah, yes, yo, uh-huh, you betcha, yessirree, you got it.

I've killed more projects in the last 6 months than I've started in the last 3 years and am doing much better as a result.

Low hanging fruit - tasty ...

Paul

Posted by: Paul | September 25, 2004 01:53 PM

Hi John,

Just got back from vacation in the middle east.

What you're saying is right on the spot, I couldn't have said it better myself.

I for one know that I have the problem of getting excited about 100+ things, only to find out that months have passed and that I have nothing in my hands as a result.

Focus Focus Focus, I just wish it was as easy as typing it is...

Sincerely,
Mehmet Aksoy

Posted by: _Mehmet_Aksoy_ | September 27, 2004 08:43 PM

Wow, I thought you were talking about me when I was reading your post. Is there a cure for this type of behavior?

Best Wishes
Stefani Partin

Posted by: Stefani | September 28, 2004 01:40 AM

I love your blog and your articles. I've been a big believer in a lot of the things you teach. You talked about this earlier, I believe, in one of your articles.

Here's a real life "quiz" for you:

I've got 3 "crappy" projects. Any of the 3, if fully developed (online/offline promotion, software, special reports, ebooks, membership sites, hands on training and consulting, etc.) MIGHT have enough potential to make a full time income.

The problem is I've got 3 crappy projects that have a very few paying customers but I'm a bit overwhelmed and can't for the life of me figure out:

*Which project to junk since they all have at least a few paying customers?

*What to do with the paying customers of the projects I junk (I don't have the means to pay them back at this point)?

*How to explain to others you're junking the projects?

Thanks for any time you spend answering.

Posted by: Kevin | September 28, 2004 12:54 PM

So true. Good advice for someone who is creative (web designer and mentor) and always distracted with imagination and great ideas. When I look at my to-do list, I try to my #1 priority that will generate income and tell myself I can't move on to the next item on my to-do list until that task is done.

Posted by: Maya Sunpongco | September 29, 2004 09:46 PM

Hello John,
Thank you for sharing this information with us. I know this problem very well. Stay focussed, doing one thing at one time right instead of starting 10 opportunities and letting 9 of them unfinished. The bottom line is that almost every opportunity can really be successful if performed properly with dedication and energy.
Alex

Posted by: Alex | October 1, 2004 06:07 AM

Great article that really hit home.

This is my first visit to your page,
but I have bookmarked it and will be returning.

Take care, and God Bless.
Ken Reno

Posted by: Kenneth Reno | October 2, 2004 06:24 AM

Spot on John!

Great advice. Focus is definitely the key.

Leveraging on how to better ideas is one of the key components to super success.

Look forward to more from the master!

Have a great day!

Kind regards,

Vivek Ganjoor
http://www.GetAllYouWant.com

Posted by: Vivek Ganjoor | October 7, 2004 06:47 AM

The story of my past two and a half years of online business starting...
For some reason I thought that having multiple streams of income meant all at once. I didn't have the concept of starting and building one business, getting it automated and self-sustaining, and bringing in consistent income BEFORE moving on to the next stream, and the next, etc. I actually thought I could multitask (wrong, only women can do that, lol) and keep more than one plate spinning in the air at a time. As a result, when they all began to slow down and wobble, I couldn't CATCH more than one at a time, and consequently, they all crashed!
Thanks for the advice, albeit a bit late, but "better late than never, elder."

Posted by: Jim Bloodsworth | October 8, 2004 12:43 AM

Yes, Master!

Going to get my legal pad (or rather, prescription pad - we docs prefer it) and start writing.

Thanks for the jolt back to reality.

Dr.Mani

Posted by: Dr.Mani | October 8, 2004 01:36 AM

Great Article John,
Every person concidering an online income should
have this information right to start with.
"But"
As I have stumbled through this myself, it leads to another Question.
And sence I don't consider myself truly qualified
to give the right answer, maybe you could shed some light on the subject.

"Q"
In the beginning making on money at all, you start with an idea. How long do you give it
before you scrap an idea?

Your readers will thank you for the added info.

Read this and remember,

Success can be Yours if you Dream Big and stay Focused!
Thanks
Mark Stratton
http://www.therealmoney.com
http://www.big-biz-mega-shopping.com

Posted by: Mark Stratton | October 8, 2004 02:34 AM

Bull's Eye!

That's ME!!!!!!!!!
But I seem not able to stop it!
Any prescription for this ailment?

Regards
Benz

Posted by: Benz Ong | October 8, 2004 04:28 AM

Hey John,

You keep getting better and better! Thanks for "keeping it real".

We all need to stay focused on what works and keep doing it.

Peace and Blessings,

Lee Green
http://store.vmdirect.com/rd763

Posted by: Lee Green | October 8, 2004 10:33 AM

Friday
Midmorning

Hey John:

Ouch! Very Ouch! This article is all about me and I want to personnally thank you for sitting me down and mentoring me this way. I notice that there are others in my "room for improvement" and I thank you all for this intervention.

I'm so inundated with projects there's no wonder that nothing's happening. My new project is to cut the fat and get to the very leanest of the business. I'll be back for more of your support.
I like when you said it shouldn't be hard or you're doing it wrong.

You are the MASTER and I will obey.

Best Regards,

Kevin Lankford

Posted by: Kevin Lankford | October 8, 2004 10:42 AM

Hi John

Just want to thank you for a terrific article. What an eye-opener! Very down-to-earth and
excellent advice. ;~)

Warm regards
Eva Browne-Paterson
EvieB.com

Posted by: Eva Browne-Paterson | October 9, 2004 12:19 AM

I actually had to read the headline twice to make sure I got it right. "More Projects = Less Profits". Damn, you caught me.

Posted by: Lorrie Morgan-Ferrero | October 12, 2004 12:11 PM

Thank you for your great article.

I first read about this focus idea from your brain dump exercise. In this article, you stress even more on focusing.

I read through all the comments and I am surprised to find out that I am not the only one that is not focus enough to get things done.

I am glad that at this point in my life that I have come across your brain dump exercise and your more projects = less profits article.

Since doing the brain dump exercise, I have been much more focus than before. I am also going back to basic, ie online business is also a business, as such, it needs to follow business sense and principles.

I just want to thank you from the bottom of my heart and I believe there will more people who will benefit from what you have written.

Thanks,

Raymondm Imaican
http://www.nofearinternetmarketing.com/

Posted by: Raymond Imaican | October 13, 2004 12:02 AM

Thanks John. I had already heard this from my mentor, Dr. Mani. You reinforced his advice really well. I am going to re focus and get going. One step at a time (baby steps...baby steps)

Gene

Posted by: Gene Ilten | October 15, 2004 06:26 PM

John, thanks for the advice. Now I have a good reason to scrap about ten projects I'm working on and focus on the one that is making money.

Posted by: Howard Young | October 17, 2004 02:04 AM

By recommendation from a fellow AMAP member
I become here, and really, this is an
article that any people who are thinking
to be a successful marketer should read.

What valuable and pointing article.

As some people, I have been working in
several things at a time, without results,
I'll take your advice and make one at a
time.

Thanks to share your comments with us.

Ley

Posted by: Ley Gal | October 18, 2004 05:10 PM

Great article sensei. We all need to be reminded from time to time that we're not missing out on anyting if we ignore the noise over in the corner while we really focus on our current (proven) project.

Regards,
Willie

Posted by: Willie Crawford | October 26, 2004 10:44 PM

Hi, John

Glad I run into your post. I am struggling in exactly what you said here. I have million ideas I want to carry out, and I end up starting none. Great post. I keep your word to my heart.

Lisa

Posted by: Lisa Lin | October 27, 2004 02:15 PM

Everyone is right..it was a good article and it's good to stay focused but at the same time don't
pass up the opportunity to have multiple streams of income all on auto-pilot. That's a great feeling too. Remember the Internet is all about
leverage. Putting one hour in...getting two hours out.

Thanks,
Mark

Posted by: Mark Saville | November 10, 2004 08:59 PM

Thanks for the great article. I had read it some time ago and I think I am getting better at staying focussed - but having just re-read it drove your points home even more.

Dave

Posted by: Dave Cushion | November 20, 2004 01:11 PM

You've got a very good post here. I'm one of the victims of this behavior. Now I'm focusing on a health-related ezine.. but I can't keep my finger away from registering new domain names..

Posted by: Mohd Fairuz | December 4, 2004 01:58 AM

Mike Litman calls this the "Idea Avalanche" in his excellent Greatness Held Hostage - if you don't have it - go get it - its free and you get Conversations with Millionaires - I'm not even going to give my affiliate link it's that good (I'm joking)

Cheers

Posted by: Paul Cowen | December 4, 2004 11:24 PM

I feel like I just came out of the principal's office holding my sore backside...
You know, this could be the solution to prevent becoming buried alive under e-mails.

Posted by: William | December 15, 2004 06:39 AM

There is so much common sense in this article, yet I've been guilty of all the mistakes you identify.

This will help me stay focused.

Gusatore

Posted by: Gusatore Delluva | December 30, 2004 03:59 AM

Well said Mate!

I see way too many people running about like headless chooks.

They are (in the words of the good book) 'ever learning but never coming to a knowledge of the truth'

Best Regards

Chris Bloor

Posted by: Chris Bloor | January 3, 2005 03:42 AM

I realized this sometime ago and have many times since then fallen off the wagon...or is it back on the wagon???