Who wants to be an internet millionaire?

A lot of people have approached me about making it big on the internet. They’ve heard of the Jerry Yangs, the Jeff Bezoses and others who have made billions on the web.

Truth be told, these are the very tiny, almost non-existent, exceptions to the rule. Most people who enter the business never make it, especially when they enter a niche not related to porn or gambling. The web business is dynamic and challenging endeavor that requires an enormous degree of creativity and luck. There is no magic formula, and a lot of trial-and-error is necessary.

But not to get discouraged! While few people, including this blogger, have struck it rich, many have been able to make a decent living off the web. In fact, tens of thousands of people make a living selling on eBay and other marketplaces.

I think the key is stop looking for an easy way to make a lot of money. Instead, do what you love. The online business is fiercely competitive, where you have to go up against people from all over the world. It takes an incredible amount of learning, tedious work and inspiration to gain the edge over your competitors. It’s hard to get inspired if you don’t do what you love and, instead, focus on getting rich.