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To Succeed in IM... Invest your time, Not money.

by Sandeep Shah
29 replies
I have asked such questions in the past, and I see people asking questions like this from time to time in forums.

"I have $X, what do I do with it, where do I invest it online, etc."

But I think the question should be, "I have X minutes/hours extra per day, how do I invest it to succeed in IM".

If one could succeed in IM just by investing money, then people like us would have been weeded out by VCs and big corporations.

Our only asset is time, not money. What do you say?

Your thoughts?
#invest #money #succeed #time
  • Profile picture of the author imguru
    Well, it depends. You can buy time with money, can't you?

    Spend your time to figure out what to do and how, spend your money to get it done
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    • Profile picture of the author blogonator
      I would say invest both to succeed. They are equally important.
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  • Profile picture of the author Heidi White
    I think one has to have some money to invest in their BUSINESS, but your main point is dead-on. Nothing will generate income without plenty of massive action and that takes time and focus.
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  • Profile picture of the author bluenetworx
    Hi,

    I agree that time is the currency we all really work on, and how we use it will translate directly into how much money we make. However one thing that I have learned in my business is that the more I was willing to spend on education (products, software etc..) even though I got stung and continue to, it moves my business forward quicker. This is because I make mistakes fast and learn from them and cut through the crap to what makes money.
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  • Profile picture of the author Memo
    Well you will have to invest both time and sooner or later money to. I think to really make it with IM you really have to spend some money.

    But spend the money wisely...
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    • Profile picture of the author Marian
      I'd say time is money and vice versa

      Marian
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    • Profile picture of the author simbat
      Time is the corner stone, but where to invest it , I was a reader and still a reader , when you invest your time in reading you will earn a very active mind
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  • Profile picture of the author Arun Kumar
    I would say that we should invest time and money to become successful in IM though times plays a main role to succeed.
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  • Profile picture of the author hydseo
    me too agree with arunkumar be if invest money and time we will more sucessful in IM

    Good luck
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  • Profile picture of the author jazbo
    I sort of agree. However, people who do not invest some money in quality information can go around in circles and make costly mistakes, all for the sake of investing a few $$$ at the start in information.

    You see to many people wasting huge amounts of time on forums (digital point being a classic example) asking obvious questions and getting the wrong answers. For the sake of $50 for a couple of ebooks and a couple of information site accesses they could save all that forum time and get quality advice.


    If people already have money, then it makes it easier because you can scale up more quickly, however it comes back to having invested in information and education at the start.
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    • Profile picture of the author imguru
      Originally Posted by jazbo View Post

      I sort of agree. However, people who do not invest some money in quality information can go around in circles and make costly mistakes, all for the sake of investing a few $$$ at the start in information.

      You see to many people wasting huge amounts of time on forums (digital point being a classic example) asking obvious questions and getting the wrong answers. For the sake of $50 for a couple of ebooks and a couple of information site accesses they could save all that forum time and get quality advice.


      If people already have money, then it makes it easier because you can scale up more quickly, however it comes back to having invested in information and education at the start.
      Exactly, you could spend all day long for months researching forums and websites for information..
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  • Profile picture of the author Ruth P
    I agree with jazbo that it can save A LOT of time if you find the information laid out in one place, and spend a little money on that eBook/ course.

    But many of us spend way too much money on way too many courses, almost to find ourselves back at square one again. The trick is to finding a course that teaches when you need, and then taking action and giving it enough time to actually work. Too often people give up simply because they don't see results immediately - it takes time to get it to work.

    Ultimately, though, I agree with the original post that it's better to spend your time taking action than to waste your money thinking it'll make you rich for nothing.
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  • Profile picture of the author Mega B
    It depends on a few things really if you have just started a website and you want it to start earning revenue from day one then depending on how deep your pocket is you can use adwords or if you dont have much to spend you can do all the SEO yourself which is free but takes alot longer.
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  • Profile picture of the author sandra.IMqueen
    Time and money are both important that's for sure. However, both need to be invested wisely. it's easy to waste hours of your time focused on the wrong thing and you could lose loads of money by following a scheme that won't help.

    So have a vision, create a plan to make that vision happen, surround yourself with good mentors, define success clearly and the use both your time and your resources wisely.

    thanks for the post.
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  • Profile picture of the author Arun Pal Singh
    With money at disposal, the input of time can be reduced.
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    • Profile picture of the author sdentrepreneur
      To succeed online, it does require time and training but your mindset is the most important.
      You need to treat IM like a business not a hobby. Regarding spending money, I spend about $2K to $3K per month on Google Adwords, Banner Advertising, Training Sites, Membership Sites, Business for Sale listings, Outsourcing and other PPC companies.

      Spending money to get targeted traffic saves time. If you don't have a marketing budget and are relying on free marketing, its going to take you much longer to make the big $$$.
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  • Profile picture of the author chukwuma
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  • Profile picture of the author karlhadwen
    Surely you can buy time with money but IMO time and effort out works money, that's just what I think.
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  • Profile picture of the author Cian
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  • Profile picture of the author Rod Cortez
    Originally Posted by Sandeep Shah View Post

    I have asked such questions in the past, and I see people asking questions like this from time to time in forums.

    "I have , what do I do with it, where do I invest it online, etc."

    But I think the question should be, "I have X minutes/hours extra per day, how do I invest it to succeed in IM".

    If one could succeed in IM just by investing money, then people like us would have been weeded out by VCs and big corporations.

    Our only asset is time, not money. What do you say?

    Your thoughts?
    Could not disagree more. Our only asset is not time. Money is also an asset and time IS money. Everyone's time is worth some form of $$$ amount as well as having a built-in opportunity cost. When one uses their time doing something it's taking them away from doing another.

    RoD
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  • Profile picture of the author csebharat
    time is the main point also few investments also needed
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    • Profile picture of the author Azfi
      We need both. Time for our IM jobs. Money for buying softwares, tools to make our IM jobs easier
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  • Profile picture of the author JosephCosgrave
    I would say that it's almost all time and a little bit of money. I do all my kw research from free tools. In about the last month and a half I have developed an awesome way to find good keywords (5,000+) for exact match on google's adword keyword tool and virtually zero competition!

    Took ages to develop (time) but cost nothing!
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  • Profile picture of the author mr2monster
    When starting out, if you're broke or just don't have the capitol to invest, time is a good tool. Doing it all yourself can save you quite a few bucks... but your business will surely stop growing once you've hit the potential for what you can do alone...

    That's where money comes into play.

    Work smarter, not harder. If you've got the money and have the resources to pay someone to do it, you'll accomplish WAY more by paying someone else to do it.
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  • Profile picture of the author JL Melvin
    Originally Posted by Sandeep Shah View Post


    "I have X minutes/hours extra per day, how do I invest it to succeed in IM".
    Good quote - I had a friend tell me a long time ago...

    "I can always make more money, but what I can't make is more time."

    So, use your time wisely - as well as your money.

    I work a full-time J.O.B. as well as being a full-time DAD - so using my time wisely to build my IM business is critical.

    The key I've found is to determine how much time I'm going to spend - How can I schedule it - and then act on it.

    Sometimes it's only an hour a week - othertimes it's 10 - the main thing is to schedule it and then be productive.

    I'm to the point now where I'm seeing results and can start spending money to make my time more productive through outsourcing things like article writing.

    It's a balance between both - Time & Money.

    For newbies, time is usually their most valuable asset.

    Jeff
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  • Profile picture of the author Leslie B
    If you only have time to invest and no money, it will take you longer to succeed, in my opinion. With a bit of money to invest, you can maybe by a course that sets you on the right track, or even just buy hosting and a domainname and maybe an autoresponder account to get started.

    I started out with $50 to invest and lots of time (being at home with the kids) and I'm sure without the money, I'd still be dabbling with free blogs and fearing to lose them because of changes in the TOS of those sites.

    Leslie
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    Taking it one day at a time!
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  • Profile picture of the author orlando cassara
    I couldn't agree with you more about how time is more valuble then money in the IM niche, but you do need a little money to get started as far as buying domains, hosting ect...
    But time is most important it seems the more you put in to your niche the more you get out of it.

    Great Post
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  • Profile picture of the author Shaun Lee
    Spending the money wisely would be the best thing to do in IM.

    Tip: Getting a domain name and a hosting account.

    -Shaun
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  • Profile picture of the author singerjay
    For me time is more valuable than money. I don't mind occassionally wasting money because I can make it back- we can never get time back though and I don't tolerate anyone or anything that wastes my time.
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