Yaro Starak Interviews Erika Awakening: How These 7 Myths About Making A Six-Figure Income Online Are Keeping You Poor and Stuck In A Job You Hate
For every goal you have in life, there is a hard way to get there and an easy way to get there. EFT Tapping for Weight Loss and Get A Better Butt, I really do not understand why so many people take the hard road when they could take the easy one …
A few weeks ago, I saw a wonderful blog post by Yaro Starak about how the online business marketplace and blogging for money are changing. I agreed with Yaro’s point about how most people are too fixated by the amount of traffic you have and not the quality of your audience. Here is a snippet from my comment:
“The best time period I ever had, I made a quarter million dollars in six months during a time when my main site was getting only 1800 monthly visitors. That’s how much traffic and money were NOT correlated.” – Erika Awakening
Yaro Starak then proposed to interview me, which I gladly accepted. We went on a one hour journey of the ins and outs of the evolution of my business and how I quit my job as a full-time lawyer to be a successful internet entrepreneur. I made six figures in this business, and sometimes multiple six figures, every year from 2010 to 2013 and am on track to make six figures this year also … And I did it by marching to the beat of my own drummer and breaking pretty much every “rule” in the business …
He just released the interview and I hope you will listen to it all the way through as we debunk one myth after another about having a successful online business. (Link to the interview at the end of this post.)
Now, without further ado, here are the Seven Myths About Making a Six-Figure Income Online That Are Keeping You Poor and Stuck in A Job You Hate
Myth #1: “I can’t make a six-figure income online unless I have a LOT of website traffic.”
False. As I addressed on Yaro Starak’s blog, I was able to make a quarter of a million dollars in six months in early 2012 while my main website TAPsmarter.com had only about 1800 MONTHLY visitors. The key here as Yaro Starak pointed out in his blog article was the quality of traffic. I actually intentionally “scared away” some of my audience who were not contributing financially and cultivated commitment in those who were sincerely interested in learning.
It is possible to make a good income online by generating lots of website traffic, and you MUST have a very high level of traffic to make a decent living selling $27 e-books. Some people love taking this path and more power to them. In my experience, at times my blog HAS gone viral and attracted tens of thousands of visitors a day, it was a lot of work for me and did not generate revenue. So I tend to prefer the “quality over quantity” angle to internet marketing.
This is a relationship business.
Myth #2: “I can’t raise my prices because nobody will pay them.”
False. Let’s do the math here. If you want to make a six-figure income online selling $27 e-books, you’re going to have to sell over 3,700 of them to make $100,000. And of those 3,700 people, a bunch of them are going to want customer service from you of various kinds. If you attempt to serve 3,700 people by yourself, it’s very likely you will be completely overwhelmed so you’ll probably have to hire people to help you. And the people you hire had better be excellent with customer service and very loyal to you, or they will alienate your customers.
Now what sounds easier, attempting to find 3,700 paying customers and service all of them – or selling twenty $5000 coaching packages to ten people?
Right. I realized pretty early on that to replace my six-figure lawyer income, I was going to have to raise my rates. And people literally LAUGHED at me. “If you don’t have enough business now, Erika Awakening, how are you going to make more by raising your rates? It’s simple supply and demand.” I got comments ridiculing me when I raised the price on my 15-Week Miracle Coaching program to $7,500. (It’s now a $50K program.)
But you see, it’s NOT just simple supply and demand. The truth is that many internet entrepreneurs (and spiritual entrepreneurs tend to be the absolute WORST about this) have set their rates too low. And they are NOT congruent with those low rates because deep in their subconscious mind they know they can’t live on bread crumbs and they are actually very ANGRY about undervaluing themselves. So they lower their rates and make very few sales.
The paradox was that when I raised my rates, I started making MORE sales. I’ve had repeat customers and clients who’ve invested more than $75,000 and even more than $100,000 with me. I don’t focus on volume. I focus on VALUE. If I can help someone develop the skills to listen to their intuition, improve their financial situation, start speaking up for themselves, get them out of jobs they hate … that is adding huge VALUE to their lives. And I’d rather do that than sell $27 e-books.
As well, it has been my experience that customers and clients who invest more in products and services tend to get more out of them. They value the opportunity more, they tend to have more discipline about using the videos or sessions. I have basically a zero-flake rate on my client sessions. And nobody’s products or services are going to help anyone if the customer doesn’t show up and use them :)
Myth #3: If Your Website Traffic Was that Low, You Must Be Getting Most of Your Clients From Speaking Engagements
False. It is true that in the early days of this business, speaking engagements helped me make a name for myself. And I did get a few clients from events. But by the time I made a quarter million dollars in six months the first half of 2012, I had pretty much stopped speaking at events and almost none of $250,000 or the income I’ve made since then came from speaking-engagement-generated clients.
Most people have found me online, through social media or my blog. Most of them have “dipped their toe in the water” with a relatively low-investment product like my Gold membership or How to Attract Money with EFT Tapping. And a solid percentage of those customers got such great results and loved the method so much that they proceeded to buy lots of my advanced products and coaching programs at much higher price points.
Over-deliver on expectations as often as you possibly can.
It is not uncommon for someone to follow my blog for a year or more before they finally make a purchase. And those people often become long-term major investors in my coaching method. So letting people find you and trust you is essential for creating relationships and cultivating repeat business.
Myth #4: You Have to Be “Mr. or Ms. Popular” to Make A Six-Figure Income Online
False. Actually, if you’re going to be a really powerful coach or advisor, you’re probably going to piss a lot of people off. This is because part of being effective is questioning people’s most cherished beliefs. And you could do this in a really “nice” inoffensive way, in which case most people will probably ignore you.
There are “popular” bloggers making lots of money on the internet. With a few exceptions, most of them are re-hashing old ideas that are “just familiar enough” for lots of people to latch on to them and nod their heads … but not get real results.
Did I mention that I piss off a lot of people lol?
The beauty of a high-end repeat-customer business is that it doesn’t matter if you piss off most of the world. Your loyal clients and customers will “get it” and they will stand by you through thick and thin. For the past year or so I focused less on money and managed to pay my bills mostly with repeat business while traveling around the world and focusing my attention primarily on advocating for animal rights.
Myth #5: “I don’t have enough time and I have to quit my job before I can start making a six-figure income online.”
False. I started this business working only evenings, weekends, and holidays, while I still had a full-time job as a lawyer. What’s more, I made over $120,000 in 2010 from doing this business evenings and weekends while still working a full-time job. If I can do it, what’s your excuse? :)
If you need help putting excuses aside and getting motivated, that’s what my EFT tapping video products are for, to get you inspired, focused, and motivated – check out our best sellers here.
Myth #6: “I can’t make a six-figure income online because I don’t have my own products and services.”
False. This is not a deal breaker. If you don’t have your own products and services, find some products and services that you LOVE and can be very passionate about offering to others. And sell those. I do not recommend selling products with really low commissions because you’ll be in the same boat we talked about above and have to generate loads and loads of traffic to make a living. Choose some super high-quality products to sell (like mine) that offer generous commissions. My friend Robin has a wonderful affiliate marketing course that you can learn more about here.
Myth #7: “I can’t make a six-figure income online because I’m not good at selling or making sales.”
False. Neither was I. I went to law school instead of business school because I thought I “sucked at business.” I almost gave up on this business in mid-2010. Don’t believe me? Read the full stories here:
What finally worked for me was using my own coaching method that I’d already used to help other people … to help myself. I had to get rid of LOTS of limiting beliefs about making sales, about quitting my job, about giving up my “old” identity as a lawyer, and much, much more. It takes discipline to transform your inner self to become congruent with new skills, a new identity, and a new reality. If I can do it, you can too.
The more you invest in your learning and development, the more successful you will be. And what I can offer you are VERY powerful tools for getting where you want to be much faster than you can do by yourself. After all, I did make about $375,000 in this business in 2012 while garnering only about 1800 monthly visitors to my main coaching website. If I can do it, you can too. Follow the path I took :)
A fantastic place to How to Attract Money with EFT Tapping
Now on to our marvelous interview – we’d love to hear your feedback in the comments section here and on Yaro’s blog as well:
Erika Awakening, Teaching People How to Create Everyday Miracles at TAPsmarter
Erika Awakening is one of the world’s foremost experts on eradicating limiting beliefs and living life on your own terms.
About the Author:
Erika Awakening is a Harvard Law School graduate and former practicing attorney. She left the rat race to become a location-independent entrepreneur, holistic life coach, blogger, speaker, healer, and Emotional Freedom Technique (EFT tapping) expert. Erika Awakening is one of the world's foremost experts on eradicating limiting beliefs and lifestyle design on your own terms. Learn more about Erika Awakening
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