I devoured it. I read The 4 Hour Workweek it in just a day or two. The book spoke to me.
I was astounded at the success of Tim Ferriss as he was able to create a functioning business that provided more than enough income for his life. I finished the book and immediately went online and registered for his online community the 4 Hour Workweek Forum. I logged in, and began looking to find other hard working people that had already built profitable online businesses. Within a few weeks of using the community I made this post:
- My original post in The 4 Hour Workweek Forums posted January of 2009.
But a funny thing happened:
The truth was that there weren’t many people that were making any money. In fact out of the 507,230 views and 46 replies only 5 people had shared that they had been able to create a functioning business that brought them even not a full time income, but over $500 a month in profits.
- 507,230 views and 46 replies to the thread.
- Many many people want to be able to simply create a business that brings them in some good money.
- However, most people aren’t able to successfully able to build a business that brings them a full time income.
- In fact, most people aren’t even able to build a business that brings them even just $500 a month.
And as it turns out, starting an online business is incredibly difficult. It sounds great on paper but the reality is that most normal people can’t just go to the web and start creating enough value that can be exchanged for $500.
The $500 a Month Challenge:
So are you working on an online business? Have you been able to achieve the $500 a month challenge? If you have or if you are still working on it, feel free to head over and share with us your thoughts on this Quora post. I would love to hear from you.
http://www.quora.com/Internet-Startups/Does-your-Web-Startup-make-at-least-500-a-month-in-profit
Now, I am not discouraging people to give it a try. In fact, I would love to try to help you grow your small business in any way I can. I am just trying to take a healthy and focused look at what many people attempt to do. Feel free to hit me up on twitter @DaveCraige .
Building a business is incredibly difficult. And about 90% of businesses end up failing and many don’t even make it past the $500/month mark.
A few additional notes:
- Its possible that many of the readers who had already created profitable online businesses didn’t take the time to register for the forum creating a bit of a selection bias.
- Its possible that there were more individuals that had created online businesses that were making them money but they didn’t want to share.
- In addition to The 4 Hour Workweek Forum and Quora, I also posted pretty much the exact same question to the Warrior Forum. They deleted the thread almost immediately. Here is where the post used to reside in this picture.
I think Dave that must of the people don’t do their research before they buisness or don’t ask for feedback with their actual custumers before they jump all inside.
For exaple I use to have a blog about Sustentability, the blog it selff didn’t give me nothing arround the 500 USD, but what it gave me, oportunity to give consulting and after installing solar systems (Net profict more than 500 USD per project)
You need to hustle in order to achive that amount.
There is nothing passive in the Online business.
Saludos
Gabriel Neuman
Gabriel,
well put. That’s a good way to look at a site. As a piece of your main business focus.
Thanks for swinging by and being my first commentor here at DaveCraige.com. I really appreciate it.
-DC
Likewise like Gabriel,
Across 4 websites focusing in different parts of my niche, yes I make more than $500 profit per month.
Never really compared what we did with anyone else so never really had a benchmark. Just kept doing what we liked and wanted to do.