Before you venture out into the big, bad world of online entrepreneurship you must first take a deep breath and brace yourself. It is a very congested world out there. But don't get nervous or worried about having to compete against other people also making money online. If you have the four major components, you are on the road to true success.

Did you know that over 80% of those who attempt to make money online NEVER make a dollar? That's right, four out of every five who attempt to make money online, in fact CRASH and BURN before even seeing one dime.

But the 20% who figure it out think it's the best thing that ever happened to them. They like the money, enjoy their lifestyle, and revel in their newfound freedom.

Would you like to know how to insure that you're in that 20% that make money and get a better lifestyle and more freedom in the process?

But before you learn about the four components to making money online you must first learn patience.

If you're the type of person looking for the next get-rich-quick online opportunity, you can forget about it. Being successful online takes time and patience. If you are willing to do the grunt work by putting in the hours with the notion that you know you can succeed, success is just around the corner.

Every single successful online entrepreneur I know took some time to learn how it all works. If you're not willing to look at this as an educational process and abandon the idea of getting rich in a hurry, you're better off sticking with your day job.

You'll also need determination and persistence. If you are dedicated and are willing to put in the hours, making money online is just a step away.

Making money online is like any other expertise. You need to learn it. That means reading, studying and lots of practice. More importantly, it means continual reading and study and practice, because the Internet is constantly changing and creating new opportunities. If you don't like learning new things you probably won't be successful online. Once you have these two components in place you're now ready to learn about the four key elements to making money online.

The Four Key Elements to Making Money Online are:

. Traffic - website visitors who are prospects, or potential customers
. Knowing how to convert those prospects into customers and money
. Finding a product or service that people are willing to pay for
. Get a website that has the right technology to successfully conduct your online business

No money begins to flow until all four of these components are working TOGETHER smoothly. And that is not an easy task to create for someone with little or no experience.

But instead of trying to develop your own product, building the technology, getting traffic, and learning conversion, start out simply by trying to create a simple business. The only way to thoroughly understand and grow this business means understanding first how to build traffic and secondly understanding conversion. Understanding these two components will help you become a success online.

Study as much as you can about these topics. But the main point is to not only study, but you must also be implementing what it is that you have learned so that your business can start growing. Once you understand how to increase your traffic and increase your conversion rates then you can begin to sell online.

Start by selling other people's products and collecting commissions. This is called the affiliate income business. Once you've learned the basics of traffic and conversion, and made some money, then you can graduate to developing your own info product or service and building more complex technology sites to sell your product or service .and make even more money. And when you do, you'll get off to a quicker start since you'll already understand traffic and conversion.

The affiliate income business is a huge business on the Internet. Last year over $8 Billion in affiliate commissions were paid to people just like you. Hundreds of thousands of people made five and six figure incomes selling other people's products. It's the ideal way to start making money online. (See Rosalind Carter's best seller "The Super Affiliate Handbook, How I Made $435,000 Last Year From Selling Other People's Stuff").

Just stick with it! If you continually put in the hours and implement the strategies outlined with sheer determination you too will become successful online.

About the author:

Wayne Van Dyck is a former venture capitalist and serial entrepreneur. As an online infopreneur, he is the founder and developer ofhttp://www.SimpleMoneyMachines.com. Simple Money Machines is the first complete Internet-Business-In-A-Box. -- Simple Money Machines provides all the technology and training required for people getting started online. To get a FREE copy of "EARN WHILE YOU LEARN - The Two Step Automated System" go to: http://www.SimpleMoneyMachines.com.