Over the years I’ve been able to spot numerous Affiliate mistakes that have caused Affiliates to lose their Business or set them back significantly.
I don’t want these things to happen to you so here they go!
Legal Issues/Getting Sued
Over the years I’ve witnessed many Affiliates make a bunch of money
doing the most shadiest shit…
Yes you can make some serious bank with BlackHat or illegal methods but it’s only a matter of time before the FTC comes knocking at your door. Remember, there’s no point in making 1 million dollars now just to get sued for 2 million later…
Be smart, make your money, stay compliant, and keep a legal team on deck.
2. Balling Out of Control
The majority of people in the Affiliate Industry are young. They have the mentality of making money, burning money, and balling out of control.
There’s nothing wrong with celebrating and popping bottles but it is a problem when the money dries up and you have created an expensive lifestyle that you’ve become accustomed to.
Every year I see people who a few years back were Balling hard but then this year they are no where to be found.
Live life and have a good time but make sure you are mindful of your extravagant spending because trust me the people who were there partying with you won’t be around when you don’t have a pot to piss in…
3. No Financial Intelligence & Maturity
Kind of ties in with point number 2.
You ever hear the stories of how those lottery winners end up broke and back working a 9-5?
Like how can someone win $100 million bucks and be broke again?
It’s crazy but at the same time it’s not so crazy, you see most
people don’t really attempt to learn anything about money.
They don’t learn about saving it, investing it, using it, budgeting it, and etc etc..
They are just overall immature about it.
The sooner you get smarter about every dollar that comes into your possession the sooner you’ll start building a more sustainable lifestyle and security for your future and retirement.
You can never stop learning and when it comes to money you should really learn everything you can.
4. Wrong Partnerships
Sometimes Partnerships are the best thing that can happen to you… But the majority of the time they will be the worse thing.
When people become Partners it’s usually all for the wrong reasons.
I know dozens of people who have wasted hard earn time, money, energy on a project with “Partners” only to end up back at square one by themselves.
Ask yourself why you would want to partner with someone and make sure that it’s a valid reason and not simply because that person wants to partner with you.
Do they bring anything to the table?
Can they help grow your business?
Do they have different skills sets that compliment what you’re good at?
What’s this person track record?
Most people I know get into partnerships because they have “nothing to lose” but trust me… Be careful, you have EVERYTHING to lose.
A bad partner can tarnish your name, brand, and reputation and make it hard for you to do business in the future.
At the same time a GREAT partner can be the best thing that can happen for your business.
5. Falling in Love With a Losing Campaign
I see this every single day.
An Affiliate has had some luck with a traffic source, vertical, offer, and etc.
They have made some money or can generate revenue but cannot seem to get the campaign to work anymore.
Now they spend days, weeks, months continuing to run the exact same thing with very little progress.
That little taste of success keeps them hooked into thinking this is where the money is.
Look, you have to understand that it’s not your fault if something doesn’t work out campaign wise.
There are to many variables… Could simply be the market has changed or the traffic source is no longer viable.
I’m not a believer in giving up right away but if you’ve given it a solid effort and it still doesn’t work out don’t beat yourself up over it.
Move on and keep it pushing.
This is a subtle mistake I see but it really destroys Affiliates so please be warned.
6. Big Ass Ego
This is the worse…
An Affiliate makes some money, becomes famous for a certain thing like “Push Notifications” or something and becomes like an Industry Celebrity.
Now their campaigns tank and they aren’t making that 9 Figure Revenue that they boast about everyday and what others know them for.
At this phase instead of trying to ask for help or perhaps ask others for advice they don’t because they let their ego get to them and can’t have others thinking they are broke.
Having an Ego also makes you think you know it all…Which in the long term only slows down your progress.
The worse thing is seeing someone think they are a big shot and then publicly lose everything…
You would think that something like that would humble them but as soon as they make money again they are right back at it again.
Don’t let your ego get the best of you.
Like the saying goes…
“Don’t Chase Fame, Chase the Money.”
7. Not Networking and Building Relationships
Let’s be honest, the Industry is full of introverted people.
That’s just the nature of this business.
Most people have a “nerd” like mentality and are shy when it comes to meeting people outside of their business.
The Affiliate Conventions and Parties are like the only outlet for most guys to make an effort to even interact with another human.
For many years I stayed underground and only really communicated with my Account Managers and Traffic Reps.
I told myself I didn’t need to meet anyone…
But looking at my current Business now I see that I’m making money with and from the connections I’ve made many years back.
It is all about Networking and meeting the right people.
And once you meet cool people make it an effort to really nurture and grow those relationships.
Dedicated time each week to just calling people to say hello, or spending time to grab a bite to eat with them.
Also, make an effort to to fly and travel to other cities and make new friends.
You will not see the return immediately but I promise you as the years go by they will be the most valuable assets to your Business.
8. Innovating and Pivoting
You have to have the ability to learn how to see the future a bit…
Anticipating the next wave, preparing for it, and catching it will allow you ride an easy wave.
If you miss it… Well you’ll just have to wait around or worse yet attempt to create a wave.
It’s a lot easier to make money when things are trending and every day there are new techniques, traffic sources, and offers.
Taking what you are currently doing and others are doing and finding a way to innovate a bit will put you ahead of the pack.
Learning to see what you are doing is not what is going to be working now or soon is called Pivoting.
Don’t be afraid to Pivot.
Most people don’t Pivot because of Ego.
Whatever it is you are doing ask yourself has the “ship sailed” already?
If it has, then it’s time to Innovate or Pivot.
9. The One Man WolfPack
There was a time where even myself had the illusion of running a full scale operation all by myself with no employees or anyone to answer to…
And there are actually a lot of Affiliates who preach this.
Yes, this is totally possible but you know what I found out?
That running a one man operation really SUCKS…
Everything is dependent on you and if you get sick or become lazy your income stops or slows down.
There is nothing fun about working 14 hours a day by yourself just to say that you can.
The goal is to work “On” your Business not just “In” your Business.
When you start making enough money you really need to start figuring out what you can hire someone else to do so you can free up your time and leverage help.
Working for yourself and by yourself should be a temporary thing and the end goal should always be to have a Business that will make you money wether or not you are involved.
Think of Business as a System.
Your One Man Wolfpack can never compete and output more than someone who has a well oiled machine and a team of smart people working with them.
Your goal is to build a Machine.
10. Treating This Like a Real Business
Too many people approach Affiliate Marketing or Online Marketing like some quick hustle to make some cash.
They never really are able to see it as a real business since it exists online compared to a brick and mortar business they can touch and see.
The Successful Affiliates I’ve met that have stuck around for years have all built their Businesses like how it should be… Like a Business.
They thought deeply about what they are doing, how they are going to do it, and how they are going to grow it.
There’s this saying…
“If you treat it like a Business, you’ll make Business Money.”
“If you treat it like a Hobby, you’ll make Hobby Money.”
Those statements above are definitely the truth.
If you’re not making the kind of money you want to make more than likely you are approaching this like a hobby instead of a real income producing business.
Are you experiencing any of these mistakes in your Affiliate Business?
If so comment below and let me know what your thoughts are!