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How much do you invest in IM each year?

by John_
13 replies
Each year, I spend around USD$2500 purely in my IM education. This is mostly to buy IM products and pay seminar fees.

This sum does NOT include domain names, hosting, software, outsourcing and trip expenses when going to seminars. I'm a beginner, in a learning phase and I'm wondering if other warriors spend this kind of money (or not). I decided to join the WF to get a fresh perspective on IM.
#education price #invest #year
  • Profile picture of the author brettmwindmann
    Hey,

    First I would just like to welcome you here. You will find a TON of great information on this forum that may help you replace some of the money you spend on IM education. Have a great amount of WSOs that cover many different subjects. For me personally spending $2500 a year is easy when you look at the high ticket items that some of the people I look up to are pushing out. I would say that over a year I will spend close to 3-5k on IM education.

    Anyway hope you enjoy the forum and have a great day.
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  • Profile picture of the author mjnet
    started researching in sept 09; started investing in October 09- hosting, wp theme, domain registrations, e books and already i have spent close to $250.

    i am still grappling as to what would be a reasonable 1st yr spend for me. i guess i would know as i go along. it's so relative to the individual's knowledge base. me ? i am starting from the home base (er, really warming up).
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  • Profile picture of the author romesaranto
    That is a good budget to stay within, however it is more important to take action on what you are learning as quick as you can. I have seen a lot of people get into the buying habit more than the implementing habit.

    Welcome by the way.
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    • Profile picture of the author brettmwindmann
      Originally Posted by romesaranto View Post

      That is a good budget to stay within, however it is more important to take action on what you are learning as quick as you can. I have seen a lot of people get into the buying habit more than the implementing habit.

      Welcome by the way.
      You make a great point. Many people spend a lot of money on education but never implement anything they learn. That is why people fail in this industry they fail to take massive action and keep thinking that the products or courses they buy will do the work for them.

      Nothing takes the place of hard work and persistence and that is just the way it is.
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  • Profile picture of the author tommen
    This forum is a real goldmine of internet marketing information, I bet you can save a lot of your $2500 by visiting WF every day.Personally, I spend around $800 a year on hosting, autoresponder, domain names and outsourcing articles.
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    • Profile picture of the author Online Business Mentor
      Everything combined...ie Education , Tools (aweber, hosting, websites etc) Advertising, Outsourcing...and some other things that come along the way

      this year was the most expensive yet...

      around $25,000-$30,000 (after checking the good old currency converter lol)

      that may seem crazy but although being the most expensive, it has been the most profitable yet ...obviously I did not start anywhere near this budget and I forecast it to least treble next year BUT BUT...presuming my business continues to grow

      ...and Im sure there are some warriors on here that most likely spend much more than me..heck THEYRE ARE....but undercover I suspect loll
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      • Profile picture of the author Online Business Mentor
        Originally Posted by Online Business Mentor View Post

        Everything combined...ie Education , Tools (aweber, hosting, websites etc) Advertising, Outsourcing...and some other things that come along the way

        this year was the most expensive yet...

        around $25,000-$30,000 (after checking the good old currency converter lol)

        that may seem crazy but although being the most expensive, it has been the most profitable yet ...obviously I did not start anywhere near this budget and I forecast it to least treble next year BUT BUT...presuming my business continues to grow

        ...and Im sure there are some warriors on here that most likely spend much more than me..heck THEYRE ARE....but undercover I suspect loll
        Oh and remember guys...this is all TAX DEDUCTIBLE...and the great thing about us internet marketers, we have the unique opportunity of tax deducting things we'd use anyway...such as a vehicle, cell phones, broadband etc lol
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      • Profile picture of the author John_
        Originally Posted by Online Business Mentor View Post

        // edited // around $25,000-$30,000 that may seem crazy but although being the most expensive, it has been the most profitable yet ... ...and Im sure there are some warriors on here that most likely spend much more than me..heck THEYRE ARE....but undercover I suspect loll
        Thank you for your answer, I see that some people here are info diggers (and can find it for free by investing TIME and EFFORT) and others are info investors. (I think i'm quite an info investor myself) You do spend a lot (but, hey, apprently the ROI is great!).

        Could you tell how much is spent on live events and how much is spent on info products ?

        (me, I'd say i spend 70% of my money on info products).
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        • Profile picture of the author Online Business Mentor
          I'd say about 30-40% on info products+seminars....maybe more

          It could vary...for example you can have 2 years of ust spending $5000+ on average a year on education, but then it can just double the next...as some of the top notch seminars out there can cost that alone....

          Mind you being in the UK it has been VARY rare for me to get an opportunity to easily attend them...

          Waseem
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  • Profile picture of the author nextdayflyers
    The only thing i ever spend money on is ebooks in terms of learning more. There are so many free resources and blogs out there, I find I can learn everything i need online for free most of the time.

    I am def trying to keep better track of any business expenses though for my websites so i can know how much i spent on each website specifically and how much it earned.
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    • Profile picture of the author Online Business Mentor
      Originally Posted by nextdayflyers View Post

      The only thing i ever spend money on is ebooks in terms of learning more. There are so many free resources and blogs out there, I find I can learn everything i need online for free most of the time.

      I am def trying to keep better track of any business expenses though for my websites so i can know how much i spent on each website specifically and how much it earned.
      Good tip i'd recommend is is use your credit card (also recommended by Robert Kiyosaki's Rich Dad Education Coaches)...obviously do not take credit unless you need too...link it to your current/bank account and use it for expenses for your internet marketing business(s)...

      Then set up an auto direct debit to clear of ALL the balance at end of each cycle...won't cost you anything and you get a nice and easier statement each month to keep track IM spending..and for ease of accounting and financial records..

      that and also we are BETTER protected from online fraudsters ...

      heres an example :

      You hire someone to $2000 worth of outsourcing work for you..and it turns out to be a total con....issue a chargeback via your credit card company and 9/10 times...its successful wivout any issues
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      • Profile picture of the author techtamers
        I have to agree - it's not how much you spend - it's not just how much you do. It's your return on investment that counts. You could take one $7 program and really work it through and through and make $7,000 in a month. Now that's a great ROI. Or you could take one $2,000 product and never open the box - that is now a lousy ROI.

        Who determines the ROI? You do! My rule of thumb. No matter how great the deal - if I don't have time and resources to implement it this week - I just don't buy it. In 12 years online I have rarely found any information that wasn't available next week. Yes, it may be more expensive, but I'll also be in a better position to both buy and USE it next week.

        With all of that being said, I spend a LOT more on my Internet Marketing education than has been mentioned here. But if someone gives you $4 for every $1 you give them - how much would you be willing to give them? For how long? In how many ways?

        Jeanette
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        • Profile picture of the author Online Business Mentor
          Originally Posted by techtamers View Post

          I have to agree - it's not how much you spend - it's not just how much you do. It's your return on investment that counts. You could take one $7 program and really work it through and through and make $7,000 in a month. Now that's a great ROI. Or you could take one $2,000 product and never open the box - that is now a lousy ROI.

          Who determines the ROI? You do! My rule of thumb. No matter how great the deal - if I don't have time and resources to implement it this week - I just don't buy it. In 12 years online I have rarely found any information that wasn't available next week. Yes, it may be more expensive, but I'll also be in a better position to both buy and USE it next week.

          With all of that being said, I spend a LOT more on my Internet Marketing education than has been mentioned here. But if someone gives you $4 for every $1 you give them - how much would you be willing to give them? For how long? In how many ways?

          Jeanette
          Well said Jeanette and I agree with you 100%...I actually still have some courses I purchased from like over a year ago and yet to find time to dedicate and study them, now I make sure as you I am sure I will have time to not only dedicate...but IMPLEMENT what I invest in learning
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