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I need some advice.

by karmadog
10 replies
I'm making on average about $500 weekly from marketing clickbank products, but it involves a lot of manual work, and I'd like to invest that money into something that will make money on it's own.

What do I do though? should I buy an established site on flippa, or a mobile app that's making money already?

What would you do?

Thanks.
#advice
  • Profile picture of the author laurencewins
    So you don't like working? $2k a month is good money. Find another avenue to complement your current one and you should be set.
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    • Profile picture of the author karmadog
      Originally Posted by laurencewins View Post

      So you don't like working? $2k a month is good money. Find another avenue to complement your current one and you should be set.
      Don't you think it's better though to have a passive source of income?
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  • Profile picture of the author laurencewins
    Nothing wrong with a passive source of income. Don't put all your eggs in one basket or you may face troubles down the track.
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    Writer/Editor/Proofreader.

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  • Profile picture of the author karmadog
    So can anyone suggest something, should I buy a review site with traffic or an app maybe?
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  • Profile picture of the author ZanyZebra
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    • Profile picture of the author karmadog
      Originally Posted by ZanyZebra View Post

      I'm sorry.

      I have some very bad news for you.

      There is nothing that will 'make money on it's own'. Passive income is a myth perpetuated by immoral IM gurus seeking to sell their wares.

      My advice is to closely examine all the business models available online and choose the one that, after your analysis, returns the greatest satisfaction and income.

      It took me over 10 years to find mine.

      Good luck with whatever your pursue.
      Passive income is not a myth. If you have a site with ads on it getting traffic, you'll be making money. I don't understand why you'd say it's a myth.
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  • Profile picture of the author michealkolince01
    Originally Posted by karmadog View Post

    I'm making on average about $500 weekly from marketing clickbank products, but it involves a lot of manual work, and I'd like to invest that money into something that will make money on it's own.
    What do I do though? should I buy an established site on flippa, or a mobile app that's making money already? What would you do? Thanks.
    It is not easy to earn this amount of money without doing any work. According to me, you can hire a freelancer to work for you, if you have no enough time to do this kind of work. I mean without any work there is no way to earn this huge amount of money.
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  • Profile picture of the author Steve B
    Originally Posted by karmadog View Post

    I'm making on average about $500 weekly

    Good for you. Now that you've got a profitable system in place, focus on what you can do to automate your system then ramp it up by a factor of 10.

    Maybe that involves outsourcing, or special software, or hiring help . . . you will have to figure that part out as you know what your capabilities are and what you can afford to do.

    The point is . . . you need leverage in your business to cut down your personal involvement but at the same time increase your already profitable business selling system. It can be done.

    Steve
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  • Profile picture of the author writeaway
    If I were you, I'd hire a VA or two to help you SCALE UP your current operations.

    Outsourcing will also make your current activities less labor intensive.

    After your operations are running smoothly with less input from you, THEN AND ONLY THEN should you look to build passive revenue streams.

    Otherwise, this will be another case of SHINY OBJECT SYNDROME.

    Remember: The only reason why the GRASS is greener on the other side is because it is WATERED there.

    Focus on what you have.

    Dominate it.

    Once you've dominated it, move on.
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  • Profile picture of the author DIABL0
    I'm with writeaway, hire a VA. You can get them from the Philippines full time for a few hundred or so per month. So you make $400 per week and free up your time. That's a no-brainer.

    Do you have any screen capture software? Using it is great for making training videos for what they need to do / learn.

    Also as steve b mentioned, you could automate tasks. I'm real big on software automation. I automate as much as I can, as long as it doesn't require any human decision making that is complex be built into it (like it can't write my ads for me). So you might spend X on custom software, but then only need a part time VA. In the long run you will have a better bottom line.
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  • Profile picture of the author AffEngineer
    Every thing will come with a lot of work at the start.

    The obvious choice is blogging. But for most 'passive income' models there's still some maintenance work you'll need to do.

    Blogging, kindle publishing, buying a website on flippa, etc are all possibilities and all have a different level of 'passivity' to it.
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    $82,000 in 19 Days, Say What?!
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