20 Myths About Making Money Online in 2024

myths about making money online

I’d like to share the top ten misconceptions about making money online with you.

I’ve been in the online business world for the past 20 years. I own several online businesses and have earned millions of dollars through them.

I’ve seen both the good and bad sides of the Internet marketing world, and I’d like to share the truth about online business with you from an insider’s perspective. People have limited beliefs based on their experiences.

Perhaps they saw or heard something or had a bad experience that shaped their entire perception of the online business world.

You cannot generalize everything based on a single observation or hearing.

Here are the top ten online money-making myths:

Making money online is impossible.

People like myself and others are liars who aren’t making money online. They don’t think it’s possible. THE FACT IS, YOU CAN MAKE MONEY ON THE INTERNET. Thousands of people live a self-sufficient Internet lifestyle. You can make money in a variety of industries. I believe it because I always see it and have done it myself. I’ve assisted thousands of people in earning money online.

It is possible to make a lot of money online in a short period of time.

Some people believe you can get rich quickly or are sold or marketed to believe. It takes time, a lot of dedication, and hard work to build an online business. The hours and sacrifices I’ve made to get to where I am today did not happen overnight. In some cases, you may see me making a lot of money in a short period of time, but you don’t see the work that I put in behind the scenes to achieve that success.

There is a rare exception when you hear a story about someone who became wealthy quickly, but you don’t know their backstory. These people already have an online marketing background; they have business knowledge and experience, so they have a better chance of success when an opportunity arises. These people may also have a mindset and habits in place that help them be successful.

3: Everything on the Internet is a scam.

This is one of the most common misconceptions. People are hesitant to purchase a product or a course because they are concerned that it will be a scam. The majority of what you find on the Internet is not a scam. There are legitimate products and courses available that can be extremely beneficial. The truth is that you cannot be scammed online.

Most online purchases have a refund policy, which is always what you should be most comfortable with. For example, if you buy something from me and I don’t respond, you can always go to ClickBank, enter your order number, and that service will file a refund for you.

You are secure.

You can be successful by simply creating a website or launching a product.

That is the simplest part of getting started online, but it is only the beginning. The real work is in marketing your brand, gaining traffic, gaining followers, promoting, and so on. That’s where the real work starts. People who get into publishing, for example, believe that if they simply publish their book on Amazon, the money will follow. This could not be further from the truth.

Everyone who teaches online is a liar.

The reality is that some of this is correct, and some of it is incorrect. I am open and honest about my life and work. I take pride in my honesty. I share my goals and how well I am doing, but many people do not believe it is true. There are, however, people who lie online.

Many companies will use celebrities to endorse their brands as part of their advertising campaigns. McDonald’s, for example, will hire Michael Jordan to be the face of their product, even though the food is unhealthy. People will like the image, even though the food is unhealthy.

You can make money online by simply pressing a button.

This is, once again, nonsense. As previously stated, building a successful online business necessitates hard work, dedication, and sacrifice.

You can make money online without putting in a lot of effort.

There is a massive learning curve in the early stages of building an online business, so it takes time to build it up. It’s similar to having a child. As time passes, your company’s needs and survival will become less dependent on you. Can you devote only a few hours per week to growing your business? Yes, but it will take longer to construct.

It is possible to make money online without spending any money.

You will be unsuccessful 99 percent of the time if you do not invest money in your online business. You will eventually need to form a corporation, hire a lawyer, purchase software, register a domain name, advertise, invest in product development, hire a team, and so on. You must spend money to make money and feed your business as you would a baby.

Earning a completely passive income online is possible.

You can earn passive income online, but you won’t be able to do so indefinitely because the Internet is constantly changing and evolving. I currently have six figures in passive income, which I could sustain for a few years, but it will eventually die. Why? Because every business necessitates that you keep an eye on it and adapt in some way.

I don’t believe you can make a 100% passive income unless you publish a book and become a best-selling author, which is a rare exception.

You can survive a four-hour workweek.

You can live this way for a while, but no one does. People like Tim Ferris, the author of “The 4-Hour Workweek,” work extremely hard – probably more than 60 hours per week – but they enjoy what they do, so it doesn’t feel like work.

Could Tim Ferris work four hours per week? Yes, but it’s a myth that you can live that way indefinitely. You must be inspired to create every day when you wake up. Activate your enthusiasm. 

I’ve been in the online business world for nine years and have worked in a variety of markets and industries. I run a number of online businesses. I’ve done a variety of things. I’ve made millions of dollars online and know a lot of successful Internet marketers. I’ve interviewed a lot of people, and some of them are experts. I’ve attended seminars, traffic and conversion summits, conferences, and a variety of other events, courses, and so on.

20 Myths About Making Money Online in 2024 -

I’ve seen both the good and the bad. Through my involvement in the Internet marketing world, I’ve also seen the dark and shady side of things, the scammer side. I’d like to give you an insider’s perspective.

As an insider, I hope to be able to share some information with you that you may not be aware of, information that is not typically marketed to you. Many people believe in myths that are based on limiting beliefs. Many people have limiting beliefs about what is possible, or they base their beliefs on an incident that happened to them once.

Perhaps they were once duped or ripped off, and something happened, or they saw or heard something, and as a result, they formed a limiting belief about that experience. You cannot generalize everything based on a single incident in your life. If you do, you will be held back and limited. I’m going to tell you the truth and the reality of the situation, which you may not like to hear. Let’s get started.

Earning money online is impossible.

That is something that a lot of people believe. They simply believe that no one makes money online, but this is not the case. They believe that people like myself and others are all liars who make things up, that we’re not really making money online, and that everything is a scam. They don’t believe it’s possible, and it hasn’t been proven by thousands and thousands of people time and time again. Fortunately, I believe that people are beginning to understand and recognize the reality of making money online.

Do you guys consistently watch my videos and follow me? You already know the truth, so I won’t tell you, but a lot of people out there don’t believe it’s true. They simply believe that making money online is an illusory fantasy world and that you should get a job instead. The majority of the older generation believes this. “What are you doing online?” they wonder. That is not a legitimate job. You can’t make money on the Internet. “

They do not believe it is real. They don’t think it’s possible to make money as a blogger or on YouTube. They simply wonder, “Do you make money blogging?” Is it possible to make money on YouTube? Is that a real job? ” They have no idea that some of these YouTubers are making six or seven figures. I know a lot of them. The truth is that you can make money online.

Hundreds of thousands of people live an independent location lifestyle, also known as the Internet lifestyle. You can make money in a variety of industries, including Amazon, blogging, affiliate marketing, digital products, mobile apps, and so on. As you are aware, there are numerous opportunities, but this is a common misconception among the general public. The truth is all around us. Look on the Internet.

There are success stories, testimonials, and role models. You can attend these seminars. Tens of thousands of people attend these seminars. You go to masterminds and meet people who are doing incredible things. I believe it because I see it all the time. I’ve done it, and I’ve helped thousands of people earn money online, but I understand why some people don’t believe it. That is a common misconception. The truth is that you can make money online.

It is possible to make a lot of money online in a short period of time.

This is not correct. I’ll say 99.9 percent of it isn’t correct. Some people believe this because they have been sold or marketed to believe it. That is a common misconception among many people. The truth is that it takes time to build an online business. It takes a lot of effort. The hours, sacrifices, and days I’ve put into my business to learn what I know now, the failures, and so on. Everything that happened to me did not happen overnight.

In some cases, you may see me make a lot of money in a short period of time, but you aren’t seeing what I’ve built, the brand, the hard work, the courses, the training, and everything else that has led me to this point. If I launch a product and do well, it’s not because of one moment but of the thousands and thousands of hours of private practice that preceded it. That is true for any successful person, including professional athletes. Nobody expects it to happen quickly.

It necessitates a great deal of effort and sacrifice. It’s not an easy task. Now, I put 99.9 percent because there is a very small percentage of people who are outliers. You hear stories about someone who became wealthy quickly and made a lot of money in a short period of time. For example, I have people who have gone through my courses which have made a lot of money quickly, and you could say that they got rich quickly, but when I look at it more closely, there are a lot of factors that go into it.

One is that you don’t know what the person was doing before you met them. For example, I’ve seen some people get into the publishing or Amazon business and make a lot of money quickly, but the reality is that when I interview these people and get to know them, they already have an online background.

They have already completed all of the courses or training, or have other businesses, experience, and knowledge that they have developed so that when a certain opportunity arises, it is the right fit for them, and they explode. Something like that could happen, but you’re not seeing everything that came before it, or the person may already have the right mindset and mentality.

My brother, for example, got into publishing and did very well, very quickly, but he was already very successful in his life and business. He had already amassed a fortune. He already had the mindset, habits, and all of these other things in place, so when he got into it, he did much better than most people. The most important aspect of starting a business is to develop themselves for most people. You must cultivate the habits, confidence, beliefs, and success mindset that will accompany that.

There are times like that.

You don’t know how much money the person is putting up to make a certain amount of money. In many cases, I’ve seen people get rich quickly by exploiting a loophole, a trick, or some sort of shortcut that makes them some money in a month, 2 months, or 3 months, but it doesn’t last because building a brand and a sustainable business over time does not happen overnight. Building that up takes a lot of time, effort, and sweet equity.

It’s similar to when you see people who have lost a lot of weight. See images and success stories of transformations. I recall watching a documentary that demonstrated how many of these stories were fabricated. I believe it was called “Bigger, Faster, Stronger,” I believe. You get to see the before and after pictures of a person who was fat and then lost weight, but the person who was fat was already in amazing shape before becoming fat, and then they lost the weight again. They were already in the habit.

They already had metabolism, so it was a piece of cake for them. My point is that 99.9% of the population will not become wealthy overnight. Do not start an online business hoping to become wealthy quickly. That is the most dangerous mindset to have. If you want to be successful, you must approach it as a marathon, not a sprint, and focus on building a long-term business. No matter how much it is marketed to you, it is not true that you will become wealthy quickly. It takes a lot more effort.

I bring this up because I know some gimmicky internet marketing guys out there who have sales letters and use videos to promote that idea because that’s what works and converts the best. The reality is that after each course and program, you quickly realize that there is a lot of work and time expected of you.

Everything on the Internet is a scam.

This is one of the most common misconceptions. There is a lot of skepticism out there; people think everything is a scam. “You’re a swindler,” they think. This course is a forgery. That product is a rip-off. ” They are terrified of purchasing a product or a course. Perhaps they’ve had a bad experience in the past, or they’ve heard about these scams, or when they check their spam folder, they see a spam email from someone saying, “You have to wire me $10,000.”

A lot of people are terrified of that. They believe that everything is a scam, which is untrue. In fact, the vast majority of online transactions are legitimate. The majority of things are legitimate businesses, products, or courses with enormous value and benefit for you. I’ve purchased a number of products and courses online, and to be honest, none of them have been scams. I’ve never been a victim of an online scam.

Maybe it’s because when I buy something, I just make sure it has a professional website, testimonials, and that the person is reputable. I can look over their content ahead of time and learn a little bit about who they are, what they stand for, and what they entail. Due diligence can be beneficial.

I am not aware of any product or course scams out there. You can’t really get scammed online, unless you’re extremely gullible, wire someone a large sum of money, and they somehow dupe you. In terms of different products that you can purchase, many of the courses and products that you can purchase online are not scams because, first and foremost, they have a refund policy. Typically, they offer a 30-day money-back guarantee or something along those lines.

That should always be the first thing you consider when signing up for a product or service like this. When people make online payments, they usually use a third-party payment processor such as PayPal, ClickBank, Stripe, or something similar. You can, for example, use PayPal to sign up for my products.

You can dispute transactions when you use PayPal. If something is a scam, or if someone does not return your money within 30 days, or if they do not deliver what they promised, you can simply go into your PayPal account and file a dispute. PayPal will be notified of the dispute, and if you show them that they did not respond to your email, did not refund your money, or did not deliver what was promised, PayPal will intervene.

They will issue you a refund. For example, I use ClickBank for payment processing. Assuming you buy something from me and I don’t respond to you for whatever reason, which we always do because we have excellent customer service. Since companies like PayPal and ClickBank do not want chargebacks, you can always go to ClickBank, email them, and include your receipt number, and ClickBank will file a refund.

Chargebacks occur when customers report fraudulent activity on their credit cards. If you suspect something is fraudulent, you can always report it to your credit card company, but there are no scams for that reason. If you buy something online, use common sense and pay with PayPal. You should be fine. Not everything is a swindle.

There are a lot of con artists out there. For example, if someone sends you an email, which goes to your spam folder and tries to trick you into sending them money, or if you receive an email from someone attempting to impersonate your bank account or PayPal, they might want you to log in so they can get your password or something. Those are the things you need to be more aware of, but the reality is that every course I’ve purchased has been worthwhile.

It’s simply a matter of applying what you’ve learned in the course, seeing its value, and incorporating it into your business or life. That’s another common misconception.

You can be successful by simply creating a website or launching a product.

Many people believe, “Okay, I just need to create a website.” I’m about to publish a book on Amazon. That’s all there is to it, and I’ll be successful. ” They are unaware that the simplest part of getting started online is developing a website and launching a product. This concludes with the first section.

Spending time marketing it, getting traffic, building followers and customers, and promoting it online is real work. That is the task. People who believe that “if I just build it, they will come” are the worst thinkers of all. It is not as simple as simply releasing a product. People who get into publishing, for example, will tell me, “Stefan, I published a book but I’m not making any money.”

“OK, great,” I say. Are you advertising your book? Do you plan to promote your book? Is your book gaining traction? “What are you doing to publicize it?” “Oh well, I thought if I just put my book up on Amazon, I’d make all this money and get rich quick,” they say. “Where does it say that?” I wonder. “Where did you go?” That is something I have never taught or believed. What people actually believe and think is mind-boggling. The reality is that building an online business requires effort.

People who teach online, who teach people marketing, business skills, and how to build a business online, are basically all liars, and they are all fake.

The truth is that some of it is true, while some of it is not. Many people, including myself, take pride in being honest and truthful. I’ve never lied on the Internet. I’ve never made up anything. In my business, I’ve never had to exaggerate anything. I’ll tell you about my personal life. “This is where I live,” I explain. This is my vehicle. That’s how I’m doing it. “

I do it for myself, but I also do it publicly so that others can benefit from it. I’m truthful. There are a lot of trustworthy people on the Internet. These are usually people with integrity. They have a higher level of awareness.

However, I say that is only partially true because there are some people out there who will lie, make things up, exaggerate things, or who will hire modes. They will be renting a Lamborghini for the day for their sales video. They’ll just do things like that to create a certain perception in order to sell you something. When I think about it, a lot of advertisers, including those on TV and in commercials, do this.

McDonald’s, for example, will hire Michael Jordan to try to persuade you to buy McDonald’s. It’s not like Michael Jordan is eating McDonald’s or drinking Pepsi. They compensate them for endorsing their products. Unfortunately, it goes further than that. A lot of marketing advertising does this to try to sell you something.

That is something that a lot of people do. There’s a lot going on behind the scenes with that. That’s why I say it’s partly true, but there are also many honest people out there. There are a lot of genuine people out there. I’ve never felt compelled to lie. I am open about my life. I am open about my objectives. Can I tell you how well I’m doing?

Do many of you remember the people who followed me back then? I purchased a brand-new 2014 Corvette Stingray, and I was ecstatic about it. I shared it because I wanted to share it with others because it was a big win for me. I was at a car dealership, and I have a picture of myself there because the car was in the showroom. They put a sold sign on it, and I was holding it up to show that it had been sold, with my name on it.

I purchased the vehicle. I’ll pass it along. Before that, I moved into a penthouse on the forty-eighth floor, where I lived for over two years. Someone ended up leaving a comment on my blog saying, “This is all a lie.” It isn’t true. It’s all a sham. Stefan is a deceiver. He doesn’t actually own that vehicle. He only rented it for that day to show it off to you. It’s not his car, and he doesn’t live in that penthouse either. ” I remember reading that and being astounded that people could think that way, that they didn’t believe it was real.

I recall that individual, and I put them in their place. “This is my car,” I said as I walked down to my car in the parking lot. “Here are the necessary papers.” I had to show this person that it was true. I’m not sure how much more proof I can provide. There are still those who do not believe it to be true. They still doubt it, believing that I don’t really live where I live and that I don’t do well.

You will never, ever persuade those people. Some people are extremely skeptical and fearful. If that’s the case, I want you to give me access to your bank account, so let me log into your bank. Some people say, “Obviously, there are some constraints to what I’m going to do. I’ve shared my trading account and other information in videos, but I’m not going to give you my bank account or try to persuade you any further. “

The truth, I believe, is always revealed. Time will either expose you or reveal the truth about who you are. I believe I have a track record of being honest and transparent online and a track record of assisting others and adding value. My videos show who I truly am, my life, values, personality, and caring, which has been demonstrated repeatedly. I tend to believe things and give people the benefit of the doubt. Then I will believe that it is possible if someone is successful, even if it is BS, but if believing that can give me more confidence and hope, then why not? I like to believe that anything is possible, so I’m naturally optimistic.

Earning money online is as simple as clicking a button.

It’s a funny one because some marketing and sales videos out there say things like, “Just press a button and you’ll make all this money.” “You’re going to become very wealthy very quickly.” That is, once again, nonsense. It’s not as simple as saying, “You press a button.” That’s all there is to it. ” As I’ve said many times in this video, building a successful online business takes a lot of hard work, commitment, and sacrifice.

You can make money online without putting in a lot of effort.

There is a myth that you can build an online business in 30 minutes a day, or an hour a week. That is also incorrect. It takes time and effort to build an online business. It will take more time at first because you are going through a learning curve yourself, you are different, and you don’t understand things as well. You’ll have to put in more effort.

Starting a business is similar to having a baby in that it will require a lot of your time and attention at first, but as time passes, it will become more independent and less reliant on you for its needs. When you first have a baby, it is completely dependent on you for survival, but it is no longer dependent on you after a while. It is capable of surviving, being self-sufficient, and caring for itself.

That is what it is like to start a business. It will take some of your time first. Could you spare a couple of hours per week? Yes, it will take longer than putting in more time, but in order to be truly successful, you will need to invest your time, commitment, and energy.

It is possible to make money online without spending any money.

You can make money online without spending any money 99% of the time, but you will not become successful online without spending any money because there are expenses in building a business. Consider it more than just making money from it. Consider starting a business. You will eventually need to establish a corporation in order to build a business.

You will eventually require the services of an accountant or a lawyer for your business. You’ll need the right resources, tools, and software that are available online, whether that’s a domain name, hosting, paying for advertising, product development, an assistant, or a team. There are costs involved. Many people, I believe, believe that “I’m just going to start a business and make all this money without spending any money.”

You can now earn money on Fiverr by simply exchanging your time as a freelancer. This does not necessitate the expenditure of any funds. You could also go on Upwork or Craigslist and make money by exchanging your time for money. You can also make money by creating a free YouTube account.

If you want to build a business and be successful (I’m not talking about making a little bit of money here and there, but being successful and making a lot of money), you’ll need money. It will necessitate an investment. Many people struggle online because they do not invest their time and money, and they are caught up in all of the myths and misconceptions that exist. That is why so many struggle.

If you are serious about starting a business, I believe you must treat it as such, which will necessitate some financial investment. It’s similar to, as I previously stated, having a baby. You will incur financial obligations as a result of having a child. You will have to devote your time to caring for the baby as well as financially supporting it. You’ll have to feed the baby, just as you’ll have to feed your business. You will need to get the baby clothing and do the things that are required for the baby to survive and thrive. It’s the same thing when it comes to starting a business.

You can earn a passive income online.

What are your thoughts? Is it true or a myth? It is, in fact, a myth. You can now earn a passive income online. I generate passive income online, but indefinitely, you don’t generate passive income online. This is due to the fact that the Internet is constantly changing and evolving.

For example, in my business, I have a lot of passive income streams set up. I have six figures every year, just passive, and I can make that passive income, maybe for a few years, but it will eventually die. That is because every business still requires you to keep an eye on it. You simply can’t set it up and forget it. You should still check in on your business once a week or once a month to see how things are going.

When things change, you must adapt. You must adapt to the changes that occur on the Internet. If you look at most businesses that people started online 10 years ago, you will notice that the Internet has changed dramatically in the last decade. Many strategies have changed and evolved. Search engines have changed, as have YouTube and Facebook, as have social media platforms. I don’t believe you can earn a completely passive income. It will not last forever. The only very rare exception would be if you published a book and became a best-selling author.

This is a rare occurrence. If you do it correctly and create a brand and a name that many people recognize, your products can continue to make you money long after you are no longer alive on this planet. However, as previously stated, most businesses will require you to check in once a week. Even if you have a team or software running it, you will still need to check in and adapt in some way.

For me, the best passive income is when I make money online and reinvest it back into my business, but I also take money out. I invest in the stock market and buy dividend-paying blue chips. Blue chips are extremely safe stocks and belong to very large corporations. It could be bank stocks and other things that are extremely unlikely to collapse. For example, the Bank of Montreal in Canada is over 100 years old and has been through recessions and depressions. It pays dividends and is extremely secure.

For me, investing in such things will result in passive income in the form of a dividend. My investment portfolio alone earns me a couple of thousand dollars per month. This is purely passive income. I don’t have to double-check it. I don’t have to keep an eye on it. They will simply continue to pay me dividends month after month or quarter after quarter, so I believe that is the best passive income. Or maybe it’s real estate that you’ve rented out, but tenants will come and go unless you have a property manager. You must also perform repairs and other tasks of a similar nature. That is why I favor dividend-paying stocks the most.

You can live with a 4-hour work week.

By the way, many of these myths have a grain of truth to them. There are rare exceptions, but they are in the 1% of the population, which is why it is primarily a myth. 1% of the population is not the majority of us. The 4-hour work week is another common myth, which holds that you can only work 4 hours per week. For a while, you can now live with a 4-hour work week. I had a 4-hour work week and was semi-retired for many months of my life.

The reality is that no one can maintain a 4-hour work week online indefinitely. Many of my friends, including myself, spent a few months in Southeast Asia. We could live that way for a while. People who work extremely hard include Tim Ferriss, who wrote the book The 4-Hour Workweek, and Frank Kern, who promoted the surfing lifestyle.

They do not work four hours per week. They are working 60-hour weeks. They devote a significant amount of time to their business and what they do. The difference is that they enjoy it. Can Tim Ferriss and these individuals work 4 hours per week? Yes. They may be able to simply enjoy the money they have earned from their books. As I previously stated, it will not last forever. It’s a myth because I believe you require a sense of purpose in your life.

You need something that will drive and motivate you, something that you enjoy and are passionate about. When I was doing publishing, I worked my way up to six figures and then retired for a while. I wasn’t particularly interested in publishing, and I did nothing for several months. I was completely bored. I was so depressed. I was so dissatisfied. I didn’t have anything in my life that challenged me. I didn’t have anything to motivate me. I had no ambitions or desires.

Many people, I believe, believe this.Again, it’s great to make money so that you can have some freedom. I believe that finding a way to do what you love is the ultimate fulfillment. When you’re doing something you enjoy, you find ways to enjoy it even more, but it never feels like work. This is a quest. It serves a purpose. You have a calling that truly lights you up and fulfills you.


That, I believe, is the pinnacle. I’ve already talked for a long time in this video, but I wanted to go over some of the top ten misconceptions about starting an online business and making money online. Hopefully, my knowledge and experience on this subject will open your eyes and assist you in comprehending the truth and reality of it. The truth is that it is frequently what many people do not want to hear. We live in a culture that is obsessed with instant gratification. That’s what’s being sold to us.

It takes work, time, even sacrifice, and commitment, and if it were that simple, everyone would be wealthy and successful, but that is not the case. I want you to understand and be reminded of the situation’s reality. 

Thank you for taking the time to read this.