The biggest mistake I made in my online marketing career cost me $ 1 million.
How did this happen?
I squandered an asset that produces $ 60,000 in annual income. If you take that million dollars and invest it safely for a 6% annual return, you will have a guaranteed annual income of $ 60,000.
What was the asset I squandered?
It was time. It was the time and opportunity to build an email subscriber list from the first day I got involved in online marketing.
You can easily build a list of 12,600 subscribers in 5 years. And these many subscribers can certainly produce $ 60,000 in annual income.
I had been told over and over how important it was to build an email list from day one. However, I was unable to build my email list from the first day I got involved in online marketing.
What’s worse, thousands upon thousands of online marketers continue to make the same mistake.
You don’t want to put it off. You understand how important it is, but you tell yourself that you will finish this project first and then you will start with your list.
What is missing is to focus on this task as one of your key objectives. When you finally wake up years later, you’ve literally wasted a fortune.
You can replace anything you lose except time. You already know that, but you still let it happen.
I am ashamed to admit that I wasted 5 precious years before waking up to this pressing reality. I was content to use other methods that were presented to me as “not requiring a list”. Well, they didn’t last and they didn’t work as well as a list either.
Without a doubt, an email list is the most valuable asset you will possess in your online business. It is one hundred percent yours and yours alone.
If you have a popular Facebook page, it belongs to Facebook. If you have a strong presence on Google+, you belong to Google. If you have a thriving YouTube-based business, you belong on YouTube. And since they belong to someone else, you can lose these assets in an instant!
But, an email list is yours, 100%.
It takes time and effort to create a list, and it’s not very productive for the first few months. However, if you set up a system to build your list, you will achieve your goal before you know it.
Even a short list can generate considerable income. And you don’t have to wait years to see results.
But the key is to start as soon as you are serious about making money online. No other activity is that important. No other online activity will have a deeper impact on your financial future.
One thing is for sure, if you neglect building your email list early in your career to make money online, you will live to regret it.