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Easier to Earn a $1 Mil, creating or buying websites?

by yankforlife41
3 replies
What do you guys think? If you have the money would you invest it in making a bunch of sites or buying a proven one? Fastest way to a million dollars? Let's hear some experienced marketers input.

Thanks

Mike
#buying #creating #earn #easier #mil #websites
  • Profile picture of the author paulie888
    This is not really a fair question, because you wouldn't need to do a whole lot if a website had already been proven and was generating income, right? The only issue here is that the proven site is probably going to cost you a lot of money, whereas building sites from scratch would be a lot more economical.

    Paul
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  • Profile picture of the author Rob Thayer
    On the one hand, there's something to be said about diversification. With one site, it's either do or die. You have to go from zero to $1 million or you fail (under your terms).

    With multiple sites, you are able to diversify but you also have to divide your focus. Let's say you eventually have a portfolio of 20 sites. Each one would have to make $50,000 (on average) to get you your $1 million. Easy? No. But more likely to happen than having one site go all the way. Some might make six figures, others might be duds. Ride your winners long and cut your losers short.

    No matter what, you're going to have your work cut out for you.
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  • Profile picture of the author dvduval
    Generally, you would make $1 million fastest by getting involved with some investors. I haven't quite brought in those numbers on a single website, but I have seen plenty of situations where investors are putting $XX,XXX per month. I've seen fewer of these since the economy went sour, but there is more likelihood of seeing that kind of money coming from one or two sources (investors planning for the years ahead).

    Develop some of your ideas into a business plan. Then start mingling with the right people, as well as develop friendships with people that mingle with the right groups. Personally, I think there are some websites that are better investments than stocks right now, so position your site or idea to be a good investment.

    I've got a couple of ideas right now that I'm getting some nibbles on. Generally, with things like this it can take months or even years to get to the point where the investors actually start sending money your way, but start planning now!
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