Many people have found the Internet to be a great way to make a lot of money. They have discovered the power of leverage. Internet marketing allows you to reach a global audience. However, many more people have found Internet marketing to be a frustrating experience. They know that riches are there to be found, but they struggle to make even a modest income. In fact quite a number actually make a loss each month. The sales they make don't compensate for the amount they spend on buying the latest e-books, purchasing private label rights or paying monthly membership fees.
One of the biggest mistakes is to think that you will get rich quickly from one technique, or one product. This can happen, but it is the exception rather than the rule. Having a goal of reaching $100,000 or more a year is a reasonable goal. However, having a goal of reaching $100,000 in one step is not as reasonable. Fortunately, there is another way to use the power of leverage. A large income does not have to come from one source. Indeed, it is probably a lot easier to generate using multiple sources of smaller amounts.
For example, there are many ways to generate $5 a day on the Internet. This may not seem very significant, but over the course of the year this would generate $1825. Again, this may not seem very exciting. However, if you were to put in place 100 similar sources you would now be earning $500 a day. This equates to a yearly income of $182,500.
Of course, this strategy could lead to another common mistake. Many new (and not so new), Internet marketers lack focus and consistency. They follow a range of gurus and experiment with a wide variety of techniques in the search for the one elusive method that might allow them to quit their day job.
Unfortunately, if you work on 10 different jobs at the same time, it can lead to them receiving only 10% of the effort each. An alternative is to work on one job at the time with 100% effort and bringing it to completion quickly. Think of the reward, if you were able to implement one new $5 a day strategy each week. At the end of your first year, you would have around 50 sources generating an annual income of $91,250.
You may be lucky enough to generate that one great idea, like a ?Rubik's Cube?, that leads to a fortune. However, a viable alternative is to work on small achievable steps that can eventually lead to a big income.