Can You Really “Get Rich Quick” on the Internet?
August 9th, 2009 by Bob Bly
Can you really get rich quick on the Internet without doing a lick of work?
That’s what SB, a subscriber, recently asked me.
He writes:
“Bob, what’s your take on the standard Internet guru shtick of the 4-hour work week?”
He’s referring, of course, to all those hyped up, high-price “how to get rich quick on the Internet” programs promising you can make millions working an hour a week.
What I told SB is this: it’s actually sort of true … but with a big “but.”
You in fact CAN make a lot of money selling information products online with very little work from week to week.
But that’s only after you’ve created all your products … your Web sites … and built your e-list.
And to produce all that is a ton of work up front.
Once it’s finished, you can indeed generate a steady stream of “passive income” – with a minimum of additional labor on your part — literally for life.
Passive income is money you make without actually having to work for it.
Listen: all my life I have made money with “active income.”
As a freelance copywriter, I made (and still make) a handsome living.
But, I have to work for that money … all the time.
Dentists have a saying: “If you’re not filling and drilling, you’re not billing.”
Even in a highly paid profession like dentistry, there’s no passive income: you only make money when you work.
So you are always trading time for money.
With an Internet marketing business, once you have an e-list, products, and Web sites, you can begin earning a steady stream of passive income.
It’s thrilling to watch orders coming in via e-mail as you sit at your computer – doing not a lick of work!
A few weeks ago, for example, I took my family to the beach for 5 days.
Since I didn’t work at all during vacation, my copywriting income for the week was zero.
But my online income was $6,103 … because a good Internet marketing business runs almost automatically, whether you’re there or not.
You can make more money – and have an easier life – when you generate passive income.
And selling information products online is just about the best way I know … aside from owning income-producing real estate … of producing more than enough passive income to live on.
When your passive income exceeds your spending, you have essentially escaped the rat race.
By that I mean you no longer have to work, and you are free to spend your time as you wish.
Can this really be done?
I know I have done it, but I don’t expect readers of this blog to take MY word for it.
So … what’s YOUR experience with Internet marketing and “get rich selling information on the Internet” courses and programs?
Do these systems work? Can you actually make money with them? Have you in fact done so? Would you recommend them to others?
Or have you spent a lot of money on “get rich on the Internet” products only to be disappointed? Did these program promoters sell you a load of BS? Do you think everyone selling “make money online” are all hypsters?
Can you REALLY make a lot of money WITHOUT a lot of work? Or is it all a load of manure?
This entry was posted on Sunday, August 9th, 2009 at 1:01 pm and is filed under Online Marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
August 9th, 2009 at 2:19 pm
Anyone I know who makes a lot of money “without a lot of work” does a lot of work. Either in getting things set up or in keeping track of what’s going on, or in keeping things maintenanced on an ongoing basis.
I have friends making $20-$25K/month in Adsense. They write 5-10 REALLY GOOD articles per day on their blogs.
I have friends making $50k/month from affiliate marketing (20k/month profit after ad spend). They’re CONSTANTLY monitoring their income/outflow to make sure things are running smoothly.
I think there is truth that businesses and systems and processes can be automated. (I know that to be the case personally.) But it takes someone who’s willing to work more than 40/50/60 hours/week to get that kind of system set up.
I think that’s the misnomer… that it can happen automatically from the beginning. I just don’t think that’s true. You either have to have the cash to pay someone to build it and bring the traffic in, or you have to pay with time in learning and sweat equity to get things rolling.
It’s all about momentum I think. And like getting a train rolling, the greatest effort is applied in getting the train moving. Once it’s moving, the momentum is easier to sustain, and that sustained momentum is often what gets marketed as the 4-hour workweek (because it’s easy to forget the effort it took to get the thing moving).
Thanks for opening this up for discussion.
Jonathan
http://www.ThreeMoneyMethods.com
August 9th, 2009 at 3:55 pm
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August 9th, 2009 at 4:48 pm
Quick? That’s a really subjective word. What’s quick to one man is not quick to the next.
In my opinion, it’s possible by my standards of quick. The alternative to building a business online is working a traditional job. Spending 40+ hours per week for 20, 30, 40 years to generate substantial income month in and month out.
On the other hand, if you took 1 - 5 years constantly learning, building and applying new skills to internet marketing/web development, you could replace/exceed your job income. In my world, that’s quick. That’s the length of time many are taking to finish undergraduate degrees only to surface with a lot of loans and no job to pay it off in this recession. If they spent that same time building a profitable niche/content site they could literally be dominating their market by the time they graduate and possibly not even use their degree to work for someone else.
Personally, I’ve been building my web business for a year and a half. Within the next 90 days I’ll have matched my current ‘on the job’ income. While it’s not 6 figures, it’s still financial freedom. Money plus the time to enjoy it is the key. Online marketing can offer that if you put the time in. Have I worked a heck of a lot to build it? Sure have, but there’s no income like passive income.
August 9th, 2009 at 5:25 pm
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August 9th, 2009 at 8:51 pm
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August 9th, 2009 at 9:10 pm
Marc: I think matching the income from your regular job with your Internet business within one year is pretty darn quick. Congratulations!
August 10th, 2009 at 3:42 am
Sure it can be done, but too many people want a “quick fix”. They get into some trouble and then hear about the magic bullet of “Internet Marketing” where you can earn crazy amounts almost overnight.
So they buy the latest product, but don’t see it through, or don’t put in the effort.
There are still lots of opportunities on the Internet, but most of them DO require work. But I’ll take this work any day, compared to… say, sweeping chimneys
Paul Hancox
http://copysnips.com
August 10th, 2009 at 11:07 am
Hi, Bob.
I got my first taste of passive income this week. I made a CD/MP3 to help people sleep, and got it available in digital format on Amazon through a distributor. This past week, the reports came in for some of the June sales (Amazon is 2 months behind on reporting). I got $56 for last week! Not a lot, but it’s a start.
On another front, I started building an e-list a few months back, basically just a squeeze page for an MP3 I was giving away for free. On Friday, I sent out a broadcast email to the list (200 souls).
So far, 52 people (26%) have opened the emails, and I’ve gotten 5 sales of the MP3 from that. Something like a 9.6% conversion rate off the ones that opened. That little test generated about $3.65 income
I’ve seen the possibilities and now I’m hooked!
August 10th, 2009 at 11:32 am
Bob,
Personally I was a consultant for Internet technologies long before entering the online marketing arena, which means I was selling my time.
Which I still do to this day. I love the projects and people I am involved with. Though the scope and specialization shifted over the years. However, I am not really seeking the 4 hour work week. My wife is fine with that since she has enough interests of her own.
It took me about 2 years to reach an income level from niche marketing that would fully support our life style if I stopped consulting.
In retrospect I have to admit, I could have got there earlier, if I only had applied more action than thinking. And if I had met my current mentors earlier.
The very first course on Internet marketing I bought was from a European based lawyer with a Doctorate. I just trusted that guy based on his formal credentials, and his site looked “corporate” as opposed to the “cheap looking” sales letters of the US-gurus at that time. BIG MISTAKE! Cost me half a year running on the wrong track.
It’s a known fact that ~97-98% of people who buy any Internet marketing course will give up at some point or struggle forever and will not achieve financial freedom. One’s choices and determination decide on what side one will land. And quick is “relative.”
No input will lead to no output no matter how big the leverage factor might be.
I also noticed that those who have become successful have a good business instinct, and most of them a sales background, too.
Yours
John
August 11th, 2009 at 12:58 am
I think, most “Get rich quick schemes” are totally useless. I still believe that getting rich is only possible if you put a lot of hardwork on what you’re doing. Up to now, I’m still learning on effective ways on how to achieve the financial freedom I want.
August 11th, 2009 at 6:53 pm
Bob:
Because I know who you are, attended one of your presentations, read your Secrets of a Freelance Copywriter, and applied your marketing principles to the launch of my own successful freelance career in 1991, I am continually tempted to click ORDER NOW to buy your how-to on generating passive online income. This is especially so because business this year is down. It is lately showing signs of an upturn. But as you described so well in the post above, this is copywriting work that requires real work.
My current situation and mid-term goals would be so greatly helped out if I could generate a sixth or even a tenth of the extra weekly income you described.
So since I don’t expect you to be peddling BS, maybe I’m going to have to buy your guide so I can see what piece of the puzzle I can’t figure out for myself.
In the meantime, could you answer two questions (and I understand if you can’t): How many different products did you sell to generate that $6103 in sales? And what was your average sale?
Thanks,
Ken
August 11th, 2009 at 8:16 pm
[…] Can You Really “Get Rich Quick” on the Internet? - bly.com blog … […]
August 11th, 2009 at 10:43 pm
Ken: You can see one of our actual sales reports here:
http://www.theinternetmarketingretirementplan.com/
We had around 400 sales that week for an average order of just $30 and gross revenues over $12,000. But the detailed report would show that most of the sales in any given week are from a couple of products, the ones promoted to our list that week via e-mail.
August 18th, 2009 at 6:32 am
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August 19th, 2009 at 3:48 am
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August 22nd, 2009 at 12:06 am
Quite interesting and informative. Thanks for sharing.
August 24th, 2009 at 1:43 am
Wow….,
Thanks for sharing information about “get rich quick on the Internet”.
August 25th, 2009 at 1:14 am
there is such a thing as ‘get rich on the internet” but never a “get rich quick…”
that’s what I learned the hard way.
August 27th, 2009 at 1:55 am
Hey!
thank you for shearing this information. its really useful for me.Yes internet is the best way to get rich quick.
August 31st, 2009 at 6:26 am
Patience is a virtue. I’d rather get the money working from it with sure payment than join programs with an opportunity to get rich quick without any assurance. Thanks for sharing. By the way, this might interest you too. I ask you to take a look at this unbelievable Educational courses available to all levels of traders, to Alternative Investment Opportunities that will give you massive returns for a small initial investment, you will be on your way to creating multiple streams of income in no time. Have a remarkable day!
March 21st, 2010 at 5:13 am
If you really want to earn money, you need for it. Yes, you can earn money without spending an hour of work within the day. But, you actually spend too many hours before you can make this possible. In short, you actually did an investment and you’re just waiting for the positive result of your investment.
April 15th, 2010 at 6:19 am
If you really want to earn money online, of course you can but you will have to take risk first. because we know that risk is the first matter in business.
August 4th, 2010 at 9:56 pm
Absolutely you can get rich on the internet. You have to due your due diligence and put your mind to it though. You can’t just sit there and hope something falls into your bank account. Visit www.incomeamplifier.net and review the ultimate income plan. You can’t go wrong with this. Notice it says “plan”. You have to follow through.