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Teaching how to “make money online” is one of the most lucrative niches to be in as an Internet marketer, however most people who attempt to profit from this niche do not.

Some people consider making money by teaching how to make money essentially a scam. I mean if you know a system of how to make money, why not just use that system rather than sell it? That smells fishy right? Umm, no, I find that logic quite silly. Why not make money using your system AND teaching it.

So, why can a small minority of people earn big in the Internet marketing industry and the majority fail miserably? Is the make money online niche only full of scammers or those who just got lucky?

As someone who has been making money in this niche for years - and I’ve certainly climbed the ladder over time - I’m in a pretty good position to explain the subtle elements that people new to Internet marketing won’t see.

Where Most People Go Wrong

Let’s start with some common mistakes that people make when attempting to profit from teaching others how to make money…

1. You sell people products about and attempt to teach how to make money when you’ve never made money yourself.

This might seem obvious, but for those people who can only see the dollar signs and not reality, understand that credibility is a big part in converting a sale.

You don’t go to a doctor who just decided one day to open a surgery having never studied or practiced medicine, so why do you think people will give you money to learn something from you that you’ve never done or have very limited success in?

There are a few people out there, especially affiliate marketers who’ve never done anything but promote how to make money products, who can enter the make money online niche and do well, but that’s because they have a skill (traffic generation and conversion), which can be applied across any market.

It’s very likely that anyone today who has made good money in the Internet marketing niche has earned money in other niches before or still do. If you’re currently running a blog that just promotes how to make money products and that’s your strategy for striking it rich, it’s time to face reality and try a different angle.

2. You’re planning on chronicling your journey to make money through blogging and thus profit from the audience you build.

I’m certainly partially to blame for people following this path, as are guys likeJohn Chow, who rose to fame using the phrase “I make money online by telling people how I make money online“.

I’ve had numerous people go through my blog training programs and begin the with the idea of starting a blog on how to make money. The thought process usually goes something like this…

“I want to make money online, but I don’t know what niche to run with”.

“As a worst case scenario, I’ll be able make money from my blog”.

That theory looks good on paper but most people have a fatal flaw in their execution.

They key to making money by writing about your journey to make money is that you absolutely must take action and try different systems and methods to make money, and then report back real results to your audience.

For example, try Pay Per Click advertising (PPC) to sell affiliate products and hopefully make at least a few hundred dollars in sales, so then you have a great little case study to report back to your blog. People want to know how to make a couple of hundred dollars from PPC, so explaining how you do it is valuable content.

What usually happens is people realize how hard it is just to do theexperiments. Reaching the point where you profit from the experiments is tough enough. Adding a commitment to write about the experience as well for little to no immediate return - that’s beyond most people.

The fact is, unless you already have experience actually profiting from a business it will be very hard to build an audience by talking about how to make money on a blog. That’s why my blog, and the few similar blogs to my own will likely remain at the top. Many contenders have come and gone, and most come to the realization they just don’t have the energy to run their business AND write about it too.

3. Believing that if you make enough blog posts promoting affiliate products eventually you have to strike it rich.

This really is a newbie mistake, but it’s so common I need to point out howfutile it is so you don’t make the same mistake.

If your blog only features promotions for products you will never build an audience that trusts you. Why buy from someone who keeps asking for money and never gives anything.

This is actually a huge problem in our niche, which, for the smart marketers is a golden opportunity.

It’s fair to say that the average consumer who goes looking to purchase something that purports to teach them how to make money - a business opportunity - is pretty skeptical. Down right jaded is a better label. These people are petrified of being ripped off and because so many people sell junk online using copy from the hype-machine, as an Internet marketer you have to work extra hard to build credibility.

The opportunity is to stand out from the crowd and build a sustainable business simply by not attempting to steal every penny from an unsuspecting newbie, and instead actually help them with genuine support.

If someone gets burnt once, then comes to you and very cautiously makes a decision, buys your product or a product you recommend, and then has a positive experience, you have generated some very powerful goodwill. Being an honest person in a sea of sharks and hucksters is a HUGE advantage, assuming you can figure out a way to create that perception.