Say it isn’t so! It really does takes some innate ability, focussed thinking and, above all else, hard work to achieve outstanding success. In one of the most hotly debated concepts of “Outliers” a block-buster hit by Malcom Gladwell (author of “Tipping Point” and “Blink”), he repeatedly stresses the results of sociological studies of greatness. There appears to be a magic number when true expertise is achieved. And that number appears to be 10,000 hours.
This supports the “overnight sensation” concept of the person who becomes a hit, seemingly overnight, completely discounting the years of practice and failure that got the person to that spot.
There is something that feels “right” about this. And I also think there could be an explanation of why we have our current recession and it’s lasting so long. Without a doubt, the irrational exuberance of the last boom was fueled by real estate prices. Add leverage and you have instant millionaires for little or no work. It was too good to be true.
And now “busy” is back in vogue. It means you still have a job (or a business) and you still are working toward something.
The pendulum has swung the other way. I didn’t like the get rich quick scheming that put people in peril and I don’t like the new busy is everything tend either.
I do believe in hard work, though. But it’s hard work with a purpose. It’s finding that thing that is your passion, that you love, that you can be best in the world at and then putting the time and energy into reaching your 10,000 hours. That works out to 20 hours a week (4 hours a day for 5 days a week) for 10 years. Or you could do it 8 hours a day for 5 years and get there faster.
When it comes to the 10,000 hours, whatever you focus on is what you will get. So if you spend 4 hours a day worrying that you’re going to go broke, you will become an expert at going broke. If you spend 4 hours a day worrying that you can’t trust other people, you will become an expert at finding people you shouldn’t trust. If you spend 4 hours a day becoming an expert in a field that you care about, some day the world will beat a pathway to your door. And with the Internet, social networking, and the ability to create multiple sources of passive income from the talents and abilities you already have - then you will riches. But it’s not an overnight success and it’s not get rich easy.
10,000 hours. You have to do the time anyway. What do you want to become an expert in?
May 11th, 2009 at 3:46 pm
People have no trouble believing that it could take 3 to 5 years to build a successful brick and mortar business.
Why are folks surprised at the idea that it could take that long to build an online business? Because of the omnipresent propaganda about ‘get rich’ while sitting on the beach with your laptop?
May 12th, 2009 at 7:22 am
Just my personal opinion - I think we’re seeing people move from real estate to online businesses. Heck, I’m one of those people!
In real estate, it didn’t take 5 years to get rich, at least when the market was crazy. And I think it spoiled people to what is realistic.
I’ve been studying online marketing and trying some things (many which don’t work) for over a year now. By now means would I consider myself a success YET. But I get it, and I think I’m getting close. Which most likely means, it’ll be about 3 years for me to get it completely dialed in.
May 12th, 2009 at 8:10 am
I don’t know where this statistic came from, but I heard that the average life of an IMer is only 90 days. The instant cash fails to materialize, and they give up/move on. (or stay on as perpetual students)
Yeah, I’ve seen REI folks interested in IM as another revenue stream during these tough times. It’s kind of a reality shock, tho, when they see how labor intensive IM can be.
The inflow towards online biz will keep coming. Lots of baby boomers with depleted stock portfolios. My general thought is that most will come, spend a few thousand (or more) on what they hope are magic bullet classes, tools, or seminars, and still not ‘get it’ to the extent necessary to succeed.
May 12th, 2009 at 8:20 am
Interesting stat! It sounds very reasonable from what I’ve seen. I remember when Rob first started his CashByChoice program. I heard some grumbles in the first 30 days that it wasn’t nearly as easy as Rob said it was.
The fact was it WAS and still IS as easy as Rob says it is, once you’re through the learning curve. Rob can put up a website in 20 minutes and make an extra $100 per month. Heck, one of his made $900 last month. I’ve seen him do it. But there are also some that are complete non-starters too.
The problem for the IMers who only last 90 days is they get discouraged when they hit what doesn’t work. Or some will say $100? that’s not enough money. The thing they forget is that they can put up a 100 sites like that before the end of the year. And even if they only make $30/month average it still means $3K per month passive. I know a lot of people who’d like to have $3K per month passive!
May 22nd, 2009 at 1:20 pm
I am following the thread between Beta and Diane. The same can be said for network marketing. Someone earns $100 dollars, says that is not enough and quits in 90 days. The thing that I have grown to love about the internet and internet marketing is that I can still get traffic from press releases I posted 2 years ago!
May 22nd, 2009 at 6:58 pm
I couldn’t agree with you more Oulda Vincent. Figure the average business takes 3 - 5 years to be profitable. So, why do people expect different results from MLMs or Internet businesses.
My opinion, for what it’s worth, is it has to do with the people who get involved. The barrier to entry is so small with MLMs or Internet Mktg that anybody can start. And that means there are people involved who could never afford to start a bricks & mortar business. In the end, it’s the same type of people who succeed at any of them and in the same numbers (actually weighted a little heavier toward MLMs because there are less cash flow problems).
I can’t tell you how many people I’ve heard that say I “only” made a few hundred dollars my first month. It’s not worth the time. Are you kidding? Tell that to the people who start a restaurant. Sink a half million into the business and then wait 3 years before they make a single solitary dime. You can get into most MLMs for less than $1K and you make money in a month. Are you kidding? That’s incredible!
And yes, I know someone is going to send me a nasty email because I touted a business that works no matter how much some people claim it can’t.
May 23rd, 2009 at 12:24 pm
The other thing about the examples of internet marketing or MLM is that many who begin these ventures have come from being employed (ie, the “employee world”).
In the employee world (generally speaking), employees are instructed what to do and when to do it.
Independent business ventures require independent thought and initiative. People don’t even know that these are helpful traits when they start out in IM or MLM. Surprise!
May 23rd, 2009 at 12:41 pm
Beta J, I think you hit the nail on the head.
So, if you want to promote a network marketing company, the best chance for success might be to target business owners already. They “get” the benefit that an MLM offers (ready made product, fulfillment, sales literature, low cost entry) and have the initiative it takes.
If that’s true, then the best MLMs will be ones that transition easily from business owner specialties. As I think about it, I’ve had a number of med professionals successfully add on a network marketing company that has a health component.
Hmmmm something to think about. An MLM would be a serious contender for creating another multiple stream of passive income for business owners.
May 25th, 2009 at 6:36 pm
Makes perfect sense to target business folks. That and maybe being a Kolbe quick-start partnered with a Kolbe detail person for the record keeping.