My Story of Millionaire to Obsolete Overnight:This is me in 1995, aged 28 and a self-made millionaire who thought he’d cracked money. I’d built a successful business empire of several shops and warehouses. And then overnight, the internet rendered it useless. I had a choice: give up or evolve. You know me—I wasn’t going to give in. So I set out to learn everything I could about making money on the internet.
Learning the Hard Way
As with most individuals today, I was caught up in the hype. I used every system available, and let me tell you, none were as simple to use as everyone promised. But by trial and error, I figured it out and rebuilt my businesses—this time with the internet as the centerpiece of my strategy.
Why This Article Matters
Skip ahead to the present time, and earning money online is not only significant—it’s critical. That’s why I’m doing this article. I spent years experimenting, trying and failing, perfecting, losing millions of dollars, making millions of dollars, and discovering what does really work. Now, armed with this information, I can help you sidestep mistakes and accelerate your success.
The Online Wealth Wheel
This is the Online Wealth Wheel. You’re probably on it without even knowing it. There are three core steps that determine where individuals are in their online money-making process—along with a little-known fourth step that only a handful of people ever achieve.
Stage 1: No Side Hustle
This is where everyone starts—with no side hustle. Sadly, 55% of people never start at all. Inflation is rising, and relying on a single paycheck is more dangerous than ever. So why do so many people still avoid starting? Because the online space is a jungle full of ads pushing flashy methods that confuse more than they help.
Finding the Right Starting Point
The secret is finding a method that fits your abilities, budget, and way of life. If you possess a skill—such as article editing, graphic design, coding, or even creating Discord servers—there’s good demand. But if you don’t possess a skill or prefer not to work with clients, product-based businesses make a great alternative.
Stage 2: A Failing Side Hustle
A failing side business makes less than $50/month. Unfortunately, 28% of individuals are here. The reality? It’s not that the hustle doesn’t function—most individuals merely fail to commit for long enough. The primary offender: Shiny Object Syndrome. Hopping from one fad to the next murders your progress.
Choose and Commit
Rather than pursuing the next big thing, choose an approach and commit to it. For me, the most lucrative avenue has been e-commerce—properly executed.
Stage 3: A Successful Side Hustle
Only 16% of individuals reach here—making more than $50/month. Some make as much as $10,000/month. What makes them different?
Step 1: Know Your Audience
Stop trying to please everybody. Define your target customer: age, interests, pain points, and the type of content he consumes. Targeting specifics works.
Step 2: Be Consistent
Consistency is more important than perfection. Share information about your products on a daily basis, encourage interaction with your fans, and experiment with little variations to enhance your offering.
Step 3: Show, Not Just Tell
Don’t tell them about your product—show them. Display content that demonstrates how your product solves issues. People must see the value clearly and fast.
Step 4: Establish Trust through Social Proof
Humans trust humans. Utilize testimonials, authentic user images, and unboxing articles. Even in your early days, request reviews from friends or family members.
Stage 4: The Elite Side Hustle (Fewer Than 1% Reach This)
The last stage: operating an elite side hustle. Fewer than 1% of individuals reach this point.
The Secret? Reinvesting.
Invest your earnings to scale your business—not to indulge in luxuries. Here’s how:
- Improve your tools to save time and scale.
- Spend money on marketing to drive traffic.
- Outsource minutiae to release your time and enhance quality.
- This mentality—reinvesting from the beginning—is what the winners have.
Final Thoughts
If you’re driven (but perhaps a little bit sloth-like), I’ve got a article linked up above—but don’t click yet. Subscribe if you would like to know how to increase your riches. See you in the next article. Follow for more updates on Online Earning.
I’m Sikander Naveed, and I started blogging in 2016. I have extensive experience writing a wide range of blogs and articles, including ones about tech education, and blogging. I frequently post stuff on various social media sites as a blogger, such as event and tech reviews. Since all of my posts are based on my own experiences, I think reading them can teach you a lot.
