Perhaps the biggest challenge a new online entrepreneur faces is doubt. Doubt in their abilities… and doubt in the opportunity.
I mean… how many people care about what YOU or I have to say, right? I get it... I know how it feels.
And...as a percentage, you’re right… the number of people is probably not very big.
But when it comes to being online, small percentages add up to big numbers. It’s estimated that 4.2 billion people are currently online… a number that we as humans… for lack of a better term… are not wired to comprehend.
In the pre-internet era (aka millions of years of evolution), a “billion” of anything was rarely, if ever, relevant to our everyday life. There was no reason to wrap our heads around that number… so we dismiss it.
We know it's a big number… but who cares?
Well... online entrepreneurs care, and the more you expand your business online and build a following, the magnitude of that opportunity is life changing.
Of course, your "online following" doesn’t happen overnight and to people just starting out online, it often feels crowded… even saturated.
If you’re planning to start a recipe blog or a self-help course… yes it’s crowded.
But, there are millions of other industries and opportunities you can explore… and to understand what BILLIONS of people actually means… let’s make a comparison that brings it closer to home.
The Most Stunning Statistic that Failed Online Marketers Overlook
Imagine you owned a salon with local market access to a 100,000 people. A 100,000 people who live close enough they’d consider coming to you for a haircut.
That’s a lot of opportunity.
In fact… let’s say you own the busiest salon in the history of salons, and your staff gave every one of those 100,000 people a haircut, at a rate of 1 haircut per minute (hpm)… 24 hours a day.
A total of 100,000 haircuts.
It would take you 2.3 months (operating 24/7) before you ran out of customers… or 69.44 days.
But you’re not running a salon…
You have an online business with access to 4.2 billion people. Let’s keep the math simple and bring that number down to just one billion.
Of course, you can’t give online haircuts… but for the sake of comparison let’s use the same math.
One customer per minute, 24 hours a day, 7 days a week… and one billion people.
If it takes you 2.3 months to get through 100,000 customers, how long should it take you to get through a BILLION?
You would finish up somewhere around the year 3919!
One billion minutes is roughly 694,444.44 days… or about 1901.32 years!
Comparing the potential of a local business with the potential of an online business is the difference between the time it would take someone to give up on their diet…
… and a couple thousand years.
And that was the internet in 2005 when it was only one billion.
Today it's more than four.
In other words… in terms of opportunity, there is no comparison. Most failed online marketers fail... because they fail to see the opportunity.
Sure, if you join a program where every member is selling the same product to the same people on the same platforms (aka most make money online programs)... failure is likely.
But if a website about football snack helmets can make $400 - $1000 month with almost no maintenance... there is plenty of opportunity for you. It just requires a little research and creativity.
If there's one statistic you need to keep in mind when starting out online, this comparison of offline opportunity vs. online opportunity might be it.
The Dumb Thing 90% of Your Competitors Will Do
You wouldn’t normally doubt that a local salon could succeed (as long as it was run properly)… You’d expect to drive by it and see it for years to come.
So, there’s no reason to doubt that your online business (run properly) wouldn’t succeed as well.
Of course, I’m oversimplifying the numbers and there are countless variables to consider, beginning with your niche, your platform, your ability, and your effort…
And yes, there are also more competitors online (depending on your niche).
But there is good news there too. Most of them have the same doubts as you do… and generally, 90% or more of them will quit.
While it’s perfectly normal for an offline business to cost tens (even hundreds) of thousands of dollars to start and take years to turn a profit… people expect their online business to be profitable within months.
When it's not, they throw in the towel. See... I knew it wouldn't work.
Some expect to be retired and living on a yacht within months, and those are the people who quit.
But for those who apply an offline business effort (and expectation) to an online business… the opportunity is outrageous.