3 Reasons Your Web Site Does Not Make Money

Leaving money on the table in your internet business? Not satisfying your “hungry market”? Not confident in your ability to make real money on the web?

Let’s look at the three most likely reasons your web site is going broke…

1. You Have a Mental Block

It’s bizarre, but oh so true: Your ability to make money (in any venture) has a lot to do with your ideas about money.I know what you’re thinking: “Not more of this ‘Law of Attraction’ and ‘The Secret’ hullabaloo.

I’m not going to tell you that all you need to do is sit quietly in a room and meditate on your piles of money. That would be about as effective as telling you that all you need to do is sit at a computer all day and create website after website Field of Dreams style.

The key is… you need to do both. And you need to balance both according to your specific needs. Some people need to focus more on the meditation and mental mindset stuff, while others need to work a bit harder at the desk.

In my experience, this balancing act never ends, and if you learn to accept that now, it makes things fun.

But if you’re working really hard and seeing little or no results, the problem is almost always in your head. If so, it’s time to do some mental reconfiguration.

Start with these key questions:

  • What is the difference between the you TODAY who makes X amount every year and the you TOMORROW who makes X+Y per year?
  • How hard do you think a person MUST work to make X+Y?
  • Do you think it’s possible to really enjoy your work (so much that it’s hardly work) and still make a boatload of cash?
  • What feelings of guilt are you still harboring about making (or having) a lot of money?

2. Your Prices are Too Low

Here’s another common problem: guilt-reducing price cuts!

Can you believe that many people are out there selling their own products and services for prices far lower than they actually deserve? Believe it. Chances are, you’re among them!

When I started working as a freelance copywriter, I had the hardest time quoting my prices to clients. Some part of me actually felt guilty charging the industry standard for my valuable services.

Despite the fact that I was qualified to do the work, my copy was always effective, and I gave my all to every project on my desk, I still managed to come up with tons of reasons to lower my prices.

Let’s start here: If you don’t believe in the value of your products and services, who will?

Ask yourself: how much is this product/service really worth? (Spend some time really thinking about what it’s going to do for your customer.)

Also: how much is my time really worth? This question alone can change your life. If you decide you’re worth $100 per hour, then absolutely every minute of your working day becomes incredibly valuable to you.

But, alas, problem #2 here is DIRECTLY related to the opening problem #1 above.

3. You’re Giving it All Away for Free

This last problem is especially true on the web.

Yes, it’s a good idea to give some things away for free, especially if it’s going to result in kickbacks later (email sign ups, client referrals, future purchases, etc).

But… You can’t give it all away all of the time. The key here is knowing how much is too much.

Blogging provides a useful example: In the beginning, as you’re building a readership, you’re going to give it ALL away for free. But you absolutely must have an end game in mind.

What are you giving away every day that you could easily package for sale? (Bloggers, for example, might consider creating ebooks).

How can you stop or cutback on the giveaways? (Write shorter blog posts, be more disciplined during “free consultations” – you get the idea.)

The worst mistake any business or entrepreneur can make is leaving money on the table. As Dan Kennedy once suggested, the goal is actually NOT “zero resistance selling” - it’s better to turn some customers away because of higher prices than to get all the business at rock-bottom prices!

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