Making Money From Scratch In A Live Internet Marketing Contest

Thanks for sharing this info ,i was not aware of that contest .

I think this type of contest should be organised by Warrior forum too,so we can some great metohds and products in IM market .

The problem with this sort of contest is it pushes making money quickly instead of making money the right way; it pushes short term results instead of long term sustainability.

Starting a business -- and internet marketing is a business -- is a marathon, not a sprint. And just like in a long distance race, if you're running as fast as you can at the starting line, you'll never see mile 26.2.

What I mean is that very often, the smart business decision for the long term is to take lower short-term earnings -- or even a short term loss -- in order to increase earnings over the long term. You dedicate long hours and resources to creating top content on your site or social media channels, even though your traffic is paltry at the beginning. You run a PPC campaign at a short-term loss, because you know that with each sale, you're also collecting an email address that you can go back to again and again. You spend weeks or months developing new features on your website -- features that might not immediately impact the bottom line, but improve the user experience in a way that it puts your site on the road to becoming a legitimate authority in your niche. And so on...

So, while it might be fun to see how much you can earn in three days, it really doesn't tell you much at all about your prospects for long term success -- and it doesn't really speak to how good anybody really is at online business. For example, we spent over two months planning and developing our initial website before it went public -- and that was using a Minimal Viable Product model, so it was (and still is) nowhere near where we hope to see it go. So our earnings after three days? $0. But does that mean our business is a failure? Of course not. Actually, I can almost guarantee you that we'll be making more money by year five of our business than any of those winners of the contest you're referencing. But it's taking a long time to get there. Why? Because we're doing things right, not just doing things quick.

But don't just look at our experience. Keep in mind that it took Facebook 5 years to swing a profit and Google about 7. Granted most of us don't have piles of VC money to keep us afloat for 5 years while we streamline our businesses to profitability, but the point is that if you're running your business with an eye toward maximizing your profit in the first year (or even five) -- let alone three days -- you're probably hurting yourself over the long term.