NOTE: This is part one a two-part series. In part two, we’ll examine tips 6 thru 10.

While there are a variety of factors that contribute to online success, no one can dispute the effectiveness of the following proven tips:

1. You must have a plan. The number one mistake that most people who attempt to make money online make is they don’t have a plan of any kind. There’s an age old proverb by Thomas Edison that accurately states: “He who fails to plan, plans to fail.” Develop a well-thought-out plan for what you want to do and how you plan to do it – a roadmap to your goals if you will. Write it down, and refer to it often. Not only can you use it to monitor your progress, it will help keep you on track as well.

2. You have to work hard. Many people mistakenly approach making money online with the idea of making a quick buck – easy riches if you will. And while a rare few achieve instant gratification and realize success rather quickly, the vast majority get hit with a brutal dose of reality. Making money online is neither quick or easy. It often requires time, patience, discipline and hard work. There are no shortcuts. Famous philanthropist Andrew Carnegie once wrote, “anything in life worth having is worth working for.” Those are words I try to live by everyday.

3. You must be passionate. I am constantly amazed at how many people approach making money online without any passion whatsoever. Passion is like a high-powered furnace that exists deep inside of you. It just needs to be fired up. So how do you fire up your passion? Easy. Do things that you’re passionate about – things that you truly enjoy doing. Why? Because passion is a key component to success. It motivates you. It keeps you focused. It makes you determined to keep going against even the most astronomical of odds. It helps you find solutions to your problems.

It’s been my experience that people who are truly passionate about whatever it is that they’re involved with have a level of determination, discipline and commitment that most people simply don’t have. It has been said that “the greater someone’s passion, the greater their level of success.” I believe that to be absolutely true. If you’re not passionate about what you’re doing, you’re merely spinning your wheels!

4. You have to believe in what you’re doing. There’s an old saying that states: “faith can move mountains.” And while that may not necessarily be true in a literal sense, belief in yourself, your ability and what you’re trying to accomplish can indeed be powerful. Let me give you an example of what I’m talking about. This past summer Tiger Woods won his third U.S. Open championship and 14th major title.

It was an unlikely victory for Woods, who was physically handicapped because he played the entire tournament with a broken leg. Two days after winning the championship, Woods revealed that he would miss the remainder of the 2008 season because he was having major surgery on his leg. When asked by reporters why he jeopardized his career by playing with such a serious injury, Woods simply replied, “I wanted to win.” Now if that’s not having faith in your ability to get the job done, I don’t know what is. Bottom line: To make money online, you have to believe in what you’re doing!

5. You must follow-up with prospects. Did you know that the average e-commerce website has a conversion ratio of around 1 percent? That means 99 percent of visitors to your website will leave without purchasing anything. That’s why following up with your prospects is so important. If you’re serious about making money online, you absolutely, positively must collect your visitors names and e-mail addresses so that you can follow-up with them at a later date.

The most effective method of following up is with a well-written, informative newsletter that not only provides your subscribers with useful information, but skillfully promotes your products and services as well. An easy to use follow-up platform would be a service like Constant Contact.