The Number One Reason Your Dream Isn’t Making Money

There is an audio version below. 

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One of the biggest frustrations I see every day from dreamers is the lack of money. I see it through social media posts, I see it in the emails that are sent to me, and I heard about it at Podcast Movement last week. Dreamers who work hard every day–who have been working hard for years–yet the income is sporadic or non-existent.

It’s sucks. It makes you angry. It makes you want to quit. It makes some jaded to the point they criticize those who have had a victory in their business. I was guilty of all of the above at several points in my journey to build this business. I was convinced everyone who was making a full-time living online was lying about it.

The truth is: some people are exaggerating, some are outright lying. But, there are many who make a living from their dream. There are people who experience freedom in their work and have online businesses that pay the bills. I am now one of those people. To be fair, I make a full-time income from coaching, consulting with companies, speaking, book sales, classes, and product sales.

If you are one of those people who has been frustrated to the point of disbelief, I want you to know I get it. However, know that with the right focus, you can make your dream a reality. If you are still on the journey, but wondering why you’re not making money, I want to point out what could be the problem.

The number one reason many people aren’t making money from their dream–especially a dream of building an online business–is because they have no audience. 

There is a ton of advice about building an online business. You’re told to connect with influencers, you’re told to figure out SEO, and you’re told to master social media. You’re told a thousand other things to do–it’s like the experts are telling you to throw a dart at the dartboard and hope something sticks.

I bet you could look around the places you hang out online and see someone who’s writing a new book, or creating a new course, or making something new. I bet if you looked closely, you would see some who haven’t sold many of the last thing they created.

Creating the “thing” is the easy part. Marketing the thing and getting people to buy it is where most dreamers lose hope. Authors know this well–look at the stats as to how many books an author will sell. The busy work keeps us from thinking about what’s happening. We think if we have enough busy work, the money will somehow follow. It doesn’t.

At the end of the day, you make money when you have an audience to sell your “thing” to. Your audience is not friends or followers on social media. The reach of social media these days is close to zero. Besides that, Chris Brogan has frequently pointed out that social media is a “rented” space. Social media should be a lead generator, which sends people to your website and email list–that’s where the sales will happen.

If your dream is going to become a reality, you have to stop the busy work and focus on building an engaged audience. You don’t need any more education–you already know what you need to succeed. Build an audience, and then sell to a few in that audience. That’s how you make your dream a reality.

How to Build an Audience

I have talked a lot about this topic, but I’m sure there are some new friends here. Here are a few ways to build an engaged audience.

Guest post on other blogs- You write an original article for someone else’s blog. They give you three links back to your website. This is a great way to get exposed to a fresh audience.

Get interviewed on a podcast- Today, podcasts get more listens than traditional radio shows. You go on a show and share your story and what you’ve learned from what you went through. Want to get on a few shows? Check out Radio Guest List, Blog Talk Radio, or the H.A.R. O. Reporter to get some leads.

Write for large authority websites- This one I’ve talked a lot about this year. First, if you haven’t already, listen to my interview with Pat Flynn. You can write for the largest websites in the world–look at my sidebar to see a few places that I write for. Basically, you read the site and get a good feel for the content. You write something for THAT site and in THEIR style–don’t send them a general post. You submit the article to an editor in the section you feel the article would fit.

Is it that easy? It can be if you do your homework. Since my interview with Pat, we have counted at least 150 people who have gotten into large websites. These large sites have millions of visitors. They will bring you website traffic, email subscribers, new social media connections, SEO, and lead to income. It’s a great 20% strategy.

Focus and Patience

If you focus on building your audience to 500 true fans, you can make a decent income. Use some of these strategies I’ve given because they work. I have coaching clients and even random people I’m connected to who have gotten results. You can do this.

Realize it takes time to build this–there are no overnight successes. The reason it takes longer is because too many are focused on the thing instead of someone to sell that thing too. Do the opposite and the income will follow.

Audio version:

Have you been frustrated trying to build a dream?

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Photo: Flickr/ Barn Images