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I need to start just getting some money in so I can pay my expensive rent each month without constantly worrying about if I am going to make enough for rent the next month or have to move. And hopefully start getting enough to re-invest back into marketing and building.
Well I have been reading excellent advice on here about what the most profitable niches and ways of marketing are and what things are not worth it because they don't have the same full potential as the others.
Although the most profitable niches sound like they cost the most to get started with and perhaps take more time. People here talking about investing thousands of dollars into them to get them going. I'm not afraid of risks. I just don't have money to invest like that. At least not yet.
So, I don't care about which ways are not long-term the highest potential and don't have the potential to ever make more then a measly 1-2 hundred dollars a day. Because if there is something like that that doesn't have long-term potential or high earning potential but has the benefits of being fast and cheap in making at a min. $100 a day I am interested. So I can know that my rent will be covered and have some extra for investing in the more profitible ventures.
I'm very new to all of this. But if anyone knows what kind of thing could produce that type of profit right away please share.
I guess if something is producing a return on investment then it doesn't really matter what the investment costs because you are getting it back. The problem is that I can't afford the delay in that. If I spend $2 a click at Google promoting something and it makes me a profit back I am still paying Google hundreds of dollars straight from my bank account way before I receive a check from the Affiliate program to cover those costs. Which is sometimes an entire month after the billing cycle that they even begin mailing them out. So something that paid quickly (like to Paypal) would be perferable.
I have been doing some of my own artistic service/product sites as well but they have not been doing all that well. Very sporadic sales. I need something consistant. I tried ebay too which I am completely sick of. I'll get buyers for my art the first time I put anything new up but as soon as I relist anything that has already sold- zero buyers. It's almost like it is only the same people looking at the art stuff and not a steady stream of new buyers.
Anyways. If there is not any answers to this or ideas I understand. It's kind of a stupid question. But maybe others here are interested in this topic too? The new people that don't have a lot of cash. I wish I had gotten into this stuff when I had plenty of cash and plenty of time, instead of wasting both of those things for years...
Michael Anthony is completely right, IMHO. It is just like a few people around here saying how they never tell anyone that they are an Aff Marketer. They don't realize that we are but a few people out of the population. This meaning that not everyone wants to do this, those that do probably won't... So it doesn't hurt you to tell some people that you are an Aff Marketer... When it comes down to it, a lot of people are lazy, and wouldn't think about starting a business. TOO MUCH WORK :-]
Enough of the rant. Diversification is the key.
I don't have any tech savvy friends, and I don't think you have to be tech savvy. Many successful online marketers are not tech savvy.
If one is not tech savvy, is he gonna build the whole website completely with dreamweaver or frontpage? or buying a shopping cart from some other company?
Just my 2 cents. No need to agree
Why would the preident/CEO build his own website?
Because most start-ups have a nearly $0 budget?
Like any other small biz start-up, the breadth and scope of the responsibilities of the CEO are directly related to the depth of start-up capital available.
And just like the "CEO" of a new diner may also be the Chief Bottle Washer, it's not unlikely that the "CEO" of a new online biz is the chief coder.
And that is one of the Good Things about affiliate marketing -- it's perfectly feasible for a One Person Company to generate a nicely livable income.
But you can't do it if you're too proud to clean the toilets.
Anyway, I get your point but mine is that it is ludicrous tot hink you have to be super tech saavy to make it in affiliate marketing. I personally know a few people that are regulars here that have made a mint without any design skills and without ever having written a single line of code.
There are even folks here who barely use websites at all but are PPC experts.
I have made fortunes from the few sites I have reluctantly built using Frontpage 2000. They took minutes to build, they have made good money for years.
I'm always more than happy to share "secrets" - my logic here is that if you're going to help the newbies become competitors then at least you have some control. So I know for a fact that the few people I've helped on here will never be my competitors, because to do so would be to bite the hand that feeds them.
In all honesty, even if they did become my competitors, so what? We all have to deal with competition, regardless of how it's come about, and to think that you can prevent it by keeping your cards close to your chest is just silly.
Any idiot can win a one horse race, but where's the fun in that? And more importantly, how good a measure of your skill is it?
My friend and I race karts, and we asked to be promoted to another series as we kept winning too easily. The logic here, and it's something I apply to everything I do, is that we can't learn anything from people whiose skills are clearly inferior to ours. Now we don't win all the time, but when we do it's because we've upped our game, not because we chose a race full of intermediate drivers, and it means a great deal more to step on to that podium knowing that we've beaten good drivers. As Anthony Robbins put it, CANI (continuous and never ending improvement) should be part of all successful people's make up.
I agree with mfishy about not building your own stuff if you have the money to hire people out... Focus your time on more important things! I haven't done it this way yet, but it makes sense.
The logic here, and it's something I apply to everything I do, is that we can't learn anything from people whiose skills are clearly inferior to ours.
Everyone has a piece of knowledge that can help you... That is my belief anyways.
All the Best,
I understand what you are saying Michael, racing karts against someone that is on your level or more will definitely up your level, and force you to improve.
I was saying this because when I was taking a oil rig course, (thank god I didn't go on the rigs), a guy who had done this stuff for many years told me one day that a brand new guy showed him a 1 thing which caused the whole process to go faster. It worked. So the new guy did teach the experienced guy something in that field that he never knew. The guy also told us never to forget that even guys without as much knowledge as you can teach you things about what you are doing. I guess the saying just kind of stuck.
All the Best,
Forget about it. This is a recipe for bankruptcy.
Budget for a year or at the VERY minimum 6 months worth of outgoings being in your bank account in liquid form before you go into business for yourself.
This includes personal and business expenses.
Then create an exit strategy which involves you looking for a job once that money is close to getting spent.
If you don't have this money, work and save till you get it.
Seen way too many people ruin their lives because of bad financial planning.
Most people - for whatever reason - don't want to a) scrub the toilets themselves and b) get paid nothing for it. So many businesses will start either by borrowing a lot of money which needs to be paid back or by working to build the necessary funds prior to project launch.
But it is possible to launch a business with $150 left in one's personal bank overdraft, no borrowing facility and still make a profit from day one. Rare though, I suspect.
That's what I did more or less, barely spent a cent. It took about two years to reach $200 a day, that's this month, the norm is somewhat below that. That's also just what I call internet revenue, like adsense revenue, excluding the core business of selling widgets by the container load which makes me really stressed and has kind of gone on the back-burner as the other things have taken off.
I started out as an absolute beginner so knowing what I know now the time period can definitely be cut down. I picked an area with low quality sites built by people with bad English with little understanding of anchor text importance (I didn't know this at beginning). I built a good site, and got a few handfuls of links with killer anchor text and that was it, game over. I then got more ambitious and reached out for more general keyword phrases and have gotten at least top 5 positions for most of them. I'm still a bit surprised at how easy it is to rank, esp. with Yahoo.
So starting out with nothing and spending nothing is certainly possible, gonna take time that people usually don't have or don't think they have.
I meet lots of people who have built huge and highly successful businesses from just such humble beginnings - and it shows that they've had the courage to take big risks from day one, which is probably why they've succeeded.
ronin, yes, we could start with zero and be super ethical all the way. But this way's much more fun and much more likely to yield big results early.
I remember from some other thread you are an ex merchant banker.
Do you really have access to unsecured debt? That only exists between long time business associates these days or for people with proven track records.
Who is going to lend you unsecured money if they don't know you?
And if they do know you, you'd be an arsehole to default on it right?
Do you really have access to unsecured debt?
Do you have a credit card? Unsecured debt. Amex? No limit to your unsecured debt... In theory of course. Even regular CC's can have $50k to $100k limits on them, depending on your credit and so on. That's alot of PPC in my book, and maybe even a pr8 link or two. ;-)
There's a much quicker way - get a shedload of unsecured debt
YES YES YES! Leverage is your friend, but you have to understand your business. I dumped $50k credit cards into a business (in stages), and it grosses $500k annually by its second year. Not internet.
The way to go about launching a new business is in stages. In the beginning, your business model has many unknowns, thus the reliability of your forecasts is very questionable, and your investment is risky. At this point, you should invest just enough to learn more about your key assumptions.
At each milestone, you come to gain more knowledge, fine tune your financial model, and become better able to predict its performance. Throw more cash at it to grow it as knowledge increases and risk decreases.
Good luck if you wait to scrimp and save -- or gamble it all up front.
The only case that personal bankruptcy is a reasonable option is if you are happy to leave the country.
Really? Well then, the US must be losing about 1,654,847 people (Plus their spouses, children, and so on) a year, right? I don't think so... While bankruptcy is a last ditch option, there are many reasons and situations where it could be the ONLY option. I'm not in any way suggesting that anyone should use CC's to start a business, even if you are 100% confident of it's success, but it is a form of unsecured debt. And many peope have created corporate giants with little other than credit cards, some brains, and a lot of hard work. My 2 cents and all...
This is advice only for people with no other options, or people who have a desperate need to be successful outweighing all the downside. I read somewhere the super rich often start their business this way, but most people don't need to be super rich. Quite rich would make most people very happy :)
I am certainly not going to work for anyone else unless my business tanks and I've always used limited liability, and sometimes it has been very useful.