I am asked a variety of questions on a daily base about affiliate marketing. The question that I am asked most often is “How can I become a successful affiliate marketeer?”
Over the last 7 years that I have been online, I have seen the term “affiliate marketing” tossed around with a huge variety of different meanings. More importantly, the well-known term “Super Affiliate.” As if some random label can truly signify the “arrival of pure awesomeness.” The most successful affiliates that I know and work with (6+ figures per month) all have one specific thing in common.
Every single one of them have a high tolerance for risk.
I know, the idea and stereotype of creating your very own successful affiliate marketing business is supposed to be all about “Ballin” collecting some “Swag” and of course “Pimpin The Ladies.” The allure and hype of ANY available media, especially the media fueling your brain about financial independence, wealth and riches can be quite overwhelming for the novice affiliate whom is just starting out. What most of these affiliates do not even consider is the less “pretty” side of being into affiliate marketing.
So I have to ask you, how much are you REALLY willing to lose to become successful as an affiliate? Because the truth is that you ARE GOING TO LOSE. At least, in the very beginning.
Most of the affiliates, we thrive on risk. I also do. Being an affiliate is simply not for everyone. Most of the people who are starting out will immediately collapse under the volatile Industry of affiliate marketing. Others will slowly “bleed” their saved money until they simply cannot go any further. Many other people do not thrive or fear risk, they will simply accept this being a certain necessary element to their overall business development.
In this industry, it is absolutely crucial to have a certain handle on your overall risk tolerance before you are even considering to have a go of it. Before I started with affiliate marketing, I was told that my ability to be living on the absolute edge financially for at least a year would make or break me. He was absolutely right too.
So, how far are you willing to go with the possibility to lose before you will become successful as an affiliate? If you are the kind of person that cannot handle any variety of volatile, unpredictable situations or constant changes, then the odds are, you are simply going to be “running through all of the hoops.” Taking several risks in the most simplest terms is sort similar to gambling. Are you someone that can walk to a blackjack table without even knowing anything about the game and simply putting your money down on the game table and hoping to really “strike it rich?” Or maybe you are the type of person that assesses all the risks of blackjack and knowingly accepts the simple fact that the cards might be stacked against you?
Possessing a high tolerance for risk is THE essential factor in affiliate marketing. Far too many times, I see many new affiliates with a budget of about $50-$100 a day to spend, yet they will completely freak out when I ask – “Ok, so send me a 1 month test of $3,000.00 on an offer.” You see, that is exactly what I call a low tolerance for risk. I simply eliminated what I will refer to as “dead-weight” to not even be allowed to work with me as an affiliate marketer. It’s very harsh, but true. By simply using their daily budget of $100 per day and multiplying it by 30 days, I got the $3,000.00 mark. Now, to most new affiliates this number will scare them far away. This is actually a very good thing. But for the “Real-Deal” Affiliates, it is “go” time. They will know and fully understand the small test I just gave them and they will immediately know how I run my businesses. It is a simple “yes, here comes the test.”
Those are the fastest affiliates. The ones who are going to make it quicker than anyone else in this industry.
If you give up easily, if you are scared easily or when big numbers scare you, this industry might not be right for you. When you grow as an affiliate, your expenses on campaigns will also grow. One month you can lose $5.000 and the next month you can earn $7.500.
Don’t over-analyze the risks. Start small with resources that you can miss and keep on split-testing everything that you do.
If you want to gain something, you also must be ready to lose something..