IBM 130 | 5 Internet Business Myths Debunked

In this episode of Internet Business Mastery, e debunk 5 common internet business myths that could be holding you back. And in the quick tip we share an easy way to instantly position yourself as an expert.

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  1. Are there any OTHER myths you’d like debunked?

  2. Hey guys,
    Great show!
    You guys were talking about books at the beginning, and Sterling you mentioned that you are listening to 2 audio books per week. I’m wondering if you could give us a list of books that you have read- and which ones you think are worth reading AND listening to…not just business books but whatever else you find interesting.

    Also, I’m curious what you do with the mind maps you make for books and how they help you.


    • Here are some of the books I’ve listened to lately:

      New Psycho-Cybernetics
      Ready, Fire, Aim (about half is all, just to where I am can take action now)
      Why we get fat
      First book in the Game of Thrones series
      and quite a few more that I wouldn’t recommend.

      I add my notes and any highlighted parts from the book in a mind map, that way I don’t have to flip through the book to find that stuff. If I listen to the book and LIKE it, I’ll buy the book and go through it to make notes and highlight the book.

  3. Hi Sterling and Jay,

    Just wanted to say thanks again for featuring my site on the episode Breakthrough segment. The academy has really surpassed my expectations and taken me to a new level of success that I did not think was possible in such a short amount of time.

    Keep up the good work you guys are doing it really means a lot to many people.

    -Leon Harrell &

  4. This is great. Love your podcast for the past few weeks. Found it through Dan from the Tropical MBA. Also very good.

    I love that you debunk the myth that you only have one chance. Just one chance to come up with a great idea. Totally true that you have until your BEST idea takes off.

    Keep up the good work.

    • It’s so interesting how much that myth can really hold us back. It would seem logical that we DON’T have only one shot at success, but the emotional belief (that feels like the truth) tells us otherwise.

      The first step in overcoming it is awareness that it is there.

  5. Thanks! Are you still buying the audios from I hate that i can buy used books for a few bucks but audios are always full price!
    BTW, I listened to The New Cybernetics back in 2008 and liked it, but then never put it into action (maybe because it was right before my divorce…).

    • Kevin,

      We like using Audible’s monthly subscription. You end up getting the books at a much better price when you get the monthly credits.

  6. Thanks Jay I’ll check that out.

  7. Hey guys. I’m new to the podcast. One of the myths you mentioned was that you have to teach making money online to make money online.

    I know this isn’t true, but at the same time it’s somewhat frustrating when everyone in the IM niche uses all IM examples when they teach. It’s great that their internet marketing business runs a certain way, but it would be IMMENSELY more helpful if someone would teach this stuff without using their IM business as the example. I would love for someone who is in a regular niche like I am to share consistent information on how THEY run their business. While there are similarities, there are a lot of things the gurus teach that only really apply to the make money online niche.


  8. What are some of the things that DON’T apply? One of my best friends has a non-IM niche and has said this same thing to me, then I tell him to test this or that, which he said wouldn’t work for his niche. He tests it and it does work. Strangely, he still says the IM stuff wont work from time to time and I have to remind him of each time he did do something he thought was for money making niches only and then I give him another tip to try… wait a minute, maybe that is the plan all along, to get me to give him another tip! hehe. <–true story.

    • Great points. I guess there are a lot of things that DO work, certainly, but you just don’t hear many examples of non-IM businesses using these techniques.

      I guess what I’m actually asking is how do you and Jay make money, aside from Internet Business Mastery? Where can I see your sites?

      • Here is the reason why, if you say exactly what else you are doing, people copy you and flood the market with rip-offs and can make a profitable market die. It even happens with internet business mastery, there are a bunch of people that have nearly the same show and try to do the same thing, which is fine because we mostly sell us and our exact way of doing it, but on some other markets it becomes detrimental, because most people don’t want to find there own path and products, they just want to have someone do all the work and they just recreate it and water down the market.

        I am willing to say that I have been been in several markets outside of IM like eBay, philosophy, gaming, making your own wine, weight loss, jewelry, pet care, and several others. I don’t give out the direct info anymore for the above reasons.