The Fear of Losing No More! (37)
Hey Stackers! What is up 
Just briefly wanna touch on a point, that when I try and tutor people the game of IM so many get stuck on, hopefully this can clear some of that 
What I find, including myself when starting out are people are damn scared of losing money, even complaining about $3 losses on a $13 revenue campaign.
You are *NOT* actually losing money, but more, buying yourself an online education, just like with any other profession, you must learn first.
Now, before we move on lets take a look at a few of these numbers.
Now in Melbourne, Australia a civil engineer goes to uni for about 5 years.
Now the cost of the university degree to become qualified will cost about $60,000
Not to mention the cost of your time, involved into going to university as it is basically 4-5 days a week.
And when your out? You earn say $50k-$100k, but working 6 days a week and 10 hour days.
How about those exclusive surgeons and doctors?
Hmmm... 7-15 years of tertiary study at a whopping $100k-$400k? No thankyou.
Now onto IM.
I personally, have spent I believe not even $3000 in the past 15 months on an education, and yet am in a better situation then most professionals in the workforce, working double the hours for 'the man'.
So the math.
Say 6-12 months of proper work will get you pretty far into the IM world.
You'll probably end up making quite a large profit, with no loss over that year.
Years to come? $100k-$200k-$500k-$1m?
These other 'elite' professions would be dazed!
So now that I have cleared the air you may realise that 'losing' money in the beginning, is not losing, its an education and if your not going to do internet marketing, your probably going to do the same, 100 fold times worse doing a university degree!
So let loose ! Spend Some Cash!
Get in the trenches, get bloody, get sweaty and make the life happen.
Tootaloo and good luck fella's fellet's
Peace
FTW!
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real talk! but it also shows that this kind of business is not meant for everybody...i've seen it more than once that friends i coached to make money only got stuck because they had fear of losing money. 100 people try to make it in the IM industry..20 of them have the ability to stay consitent and 10 or even less out of them will make it...thats just my guess but i think it isn't that far from the truth..just my experience
That's a great way to point things out!
**Heads out to sign a few mil in IOs** =)
guys whats wrong with you? honestly? maynzie made a really good post..and everything he get's back is bullshit..maybe you're one of the 90% personally i think it's a very interesting topic he's talking about...so get some serious discussion here and no baby/newb talk...have a good one ;-)
Originally Posted by nusolutionz
I have always looked at it this way. So what if you "lose" $5000. see it as a investment and education. If you are dedicated and learn from your mistakes sooner or later you will earn that 5k back.( the more you launch, the more you will fail, and you will learn much faster = succes) Could be tomorrow or next year, you wont regret it because once you hit that big winning campaign you will be golden
I have invested a lot in education, in fact I'm on my 3rd or 4th PhD.....I love learning!
awesome reminder it's crazy how hard it can be to let go of a loss sometimes. I look at some of my best camps and they all start with heavy losses that turn into on going profits. Always good to take a step back and think of the big picture I know I sure as hell need that kick in the ass sometimes.
Good post, pretty much sums up that having the right psychological approach is paramount.
I think the biggest problem is the fear of the unknown rather than the fear of losing money. If you do one of the occupations in the first post then its pretty mch assured that you will earn good money for the rest of your life by getting the qualifications needed.
The difference with Im is that there is no set training course or pattern that says at the end of it by losing XXX amount of money you will make XXX for the rest of your life. You can only take the word of the people who are earning presently that it works.....hence why a forum like this is so good to find.
By being here I know there are some serious hard hitters who share all sorts of stuff that (because I have faith) will help me earn a full time income if I put the time effort and investment in.
So far Im about $1k into my "investment" and have learnt a massive amount ubt still a way off seeing any results, but know its only a matter of time before I do....simply because I have total faith
Solid info, and its completely true. It's the same as any other profession thats solely on commission. You need to pay a little to learn traffic sources and the ins/outs, it'll be worth it in the end
I am Glad I ran across this thread I wanted to provide the real numbers on my progress into AM....
First ad was charged to my American Express on March 28, 2010, fast forward all my statements and I have invested $5,126.43 into my business and have generated $9,588.64 netting me with a profit of 4462.21. I am petrified of losing money that's why I will do whatever it takes to keep as much of it as possible.
With that said I am far from being able to leave my job; but do believe that I will be able to save enough capital to leave my 9-5 within 6 months!
As a side note I haven't spent a penny of my earnings and don't plan on it until I leave my job, I am not doing this to have extra spending money as a side job this is a business and needs to be treated that way. I have a feeling that's part of the reason why people can't make it in this business they try to do this as passive income until they "MAKE IT".
@jonas - thats exactly how im treating it now for myself aswell. Im not spending any of my am earnings now until I make around $60k profit then im going to invest that money into a business to have on top of doing am
Amen Maynzie!
So true, so many people are so willing to spend money on the next new gimmicky toy, yet they are so hard pressed when they just need to spend a bit of money to test campaigns.
Damm dude - that really puts it into perspective. The cost of education in the real world far outweighs anything we spend learning the trade online.
I first got involved in this internet game through some crappy 'biz op' opportunity - and I probably could have made some bank with it but I was so hesitant to start spending money on advertising for fear of loosing cash that I just sat back and hoped my SEO would bring hoards of desperate 'wanna be's' knocking on my door...
Needless to say it didn't work.... Then I found a couple of courses on affiliate marketing, and actually took action on them. It was PoF that got me started, and my biggest loss on PoF was only ever $40 in the red.... and this was after reading a course where the guy had said he spent over $3k before getting stuff working for him. My accountant almost fell of his chair the first time I rang him and told him I'd just had my first $800 profit day - whilst doing nothing.
Now, since then I've spent thousands on ads - and lost thousands - but, it soon became much easier to spend that cash 'testing', when you knew you were making some bank on another campaign.
The two biggest game changers for me in my journey so far were discovering Prosper202 and understanding the importance of tracking (how can you test if you can't track - I soon became pretty anal about stats), and realizing that losing money is not failing, simply buying information.
....and of course, the third game changer has been joining STM...
Inspirational Maynzie thanks !
Losing money has never bugged me near as much as losing time.
Lol, im still trying to not look at losing campaigns as a waste of time.
Thought I'd bump this to any of the new comers of STM for a read
Originally Posted by maynzie
I get a lot of PM's of people who are very attached to their money, and end up cancelling campaigns that are going to be profitable with a little bit more work, because of the fear of losing their money.
Even if you drop $2000 into AM with no return, and I truly believe that wont happen with the wealth of pre studied information on this forum, you've dropped $2000 into your education.
Go and google short courses for different sort of jobs and look at the prices, most 3-6 month short courses will cost you anywhere from $1000-$4000, not to mention the time involvement in going to these classes, only to obtain some shitty piece of paper that allows you a middle classed job!
AM won't happen overnight (in some cases I've seen it might haha...) but chances are, you are going to lose money in the first place, but AM is a business model in which the start up fees are insanely low in comparison to the ROI you can achieve over time.
When starting out, don't fret your losses as lost money, think of it as your initial education into a 6 figure+ year job in which you are answerable to no one.
Most of you would of seen Dubbsy's success story now, and I truly believe the moment I knew he was detached from the emotion of lost money, when I wake up and he would report a $100 loss and he rubbed it off with a smile on webcam and said man its just the game we play! I knew he was about to just skyrocket, in which he did
I just wanna see every single person who joins this forum become their own hero, and in order for this to happen you are going to have to man up and suck up the costs of losing money in the beginning, but as soon as the turn around happens you'll be thanking everyone on this forum, but most importantly yourself that you free'd yourself from the rat race, and that you have unlimited time for your girlfriends, boyfriends, wive, husband, children, brothers, sisters, friends, hobbies, sports, beaches, snow, rivers etc all that shit you name it!!!!
Do not give up,
One step forward every day and I promise you, you will make it.
M
Absolutely true and should be obvious. If it were that easy that every noob could make money day 1, everyone would be in AM. The initial losses keep the business profitable for those who persevere...
Another prime example was Jmgraffs recent follow along, he turned a loss into a profit because he stuck with it and bought his education now reaping the rewards, Positively shifted brothers!
Right on. A lot of my investment so far has been making stupid mistakes which I won't ever do again. Learn the hard way but its still good learning
Good points, Maynzie. All very true.
I also find it strange that affiliates will flip out over losing a few dollars, but will be fine about spending maybe $200 to make $5 in profit. The biggest problem for a newbie affiliate isn't profit and loss. It's cashflow.
If you have a limited budget, you probably shouldn't even be worried about making a tiny profit. Making $100 isn't going to make your affiliate marketing career and set you free from the rat race. The only thing that will is the currency of data, experience and a helpful dollop of confidence.
As long as you're learning from what you spend, you're doing fine.
As long you take on something from your 'lost' money on campaigns and learn through it, it's not lost. Consider it a delayed ROI in future, profitable campaigns!
Such a great post!
Just goes to show that if you keep at it, learn, and let go emotionally from the outcome, things will pop. Realize that every step you take along the way, both forwards and backwards, is all leading to the big picture goal.
I own couple of offline businesses and all i can say is that they cost me about $15,000 - $25,000 a month to operate (rent, workers...) some months i wont make a fucking dime.... yet some months i make a nice living (sometimes Very nice living) affiliate marketing is just as offline business and should be treated the same, not everything you do will turn out to be profitable but then again you have to learn from mistakes and you have to understand IT IS A BUSINESS by all means..
just my 2 cents
This post should be required reading for everyone on the forum. Such an important topic and a stated so clearly.
Originally Posted by mars90
Gotta be able to control your emotions and hold the end goal in mind, obstacles only appear once your eyes are taken away from the prize. Let Loose STM'ers!
I say this exact thing to my friends that want to try to come into IM... they lose a few dollars or a few hundred dollars and pull out.. NONE of them have ever lasted long enough to realize profits.
I started with $15k to my name. My first month I lost $3000 and considered quitting. I'd lost 20% of everything I had but I knew guys were out there making a killing.
I very quickly decided that I enjoyed the game so much that I didn't care if I lost everything I had, it was worth the risk. I said out loud, by myself "FUCK IT LET'S LOSE IT ALL" and I un-paused my campaign.
The next month I made $8,000
The next month I made $30,000
The next month I made $250,000
my best day ever - I doubled my previous job's annual salary (BEFORE taxes) in 24 hours...
and it's still going strong 4 years later.
If I had quit after losing that first $3000... I honestly have no idea where I'd be right now. Probably in a cubicle somewhere wishing I was somewhere else.
Now don't go and lose your house trying to get a campaign to work, but DO risk whatever you can afford to lose. Every dollar you lose is a lesson learned.
Motherfkn BOOM.
You said if Profitable!
Been getting a lot of PM's about people thinking they are just throwing money out the window, just thought I'd bump this in case some new members haven't seen it.
And Profitable's story is just badass lol
Dr. Ngo made a pretty cool blog post about that topic: http://www.charlesngo.com/conquer-th...f-losing-money
IM was put into perspecitve for me in the real world recently, when my friend told me he was having trouble finding a job...he spent so many years in pursuit of a PHD in Russian History in Europe.
He's about 80k-100k in debt and no stable gig. When I think about the amount of time and energy he invested (studying , test taking, class discussions, 50+ page essays he had to write), learning IM definitely seems like a good investment.
Originally Posted by profitable
If that isn't inspiring, I dunno what is.
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