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$500 a month budget?

by Level103
14 replies
One of my closest friends want s to get involved in IM! He has $500 dollars to spend a month and evenings and weekends to spend working.

What would you do in this scenario? Does having more budget help?
#$500 #budget #month
  • Profile picture of the author daddykool
    Depends on what your friend wants to earn / do?

    What are his likes and dislikes in the real world?

    What is his day job?

    These are important as he can use his $500, his current experience, a few niche keyword domain names, a blog and a cpa offer to make some $

    We have some slots if your friend needs a startup :-)

    Make sure your friend and you, read lots on WF and action what you learn as you go along!
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    • Profile picture of the author TBInternetMarketing
      Wow, $500 a month is a lot more than most people here could afford.
      Ok, if it was me and I had to do it all again, I would invest in some great tools, and a few courses to get going. He shouldn't rush into buying anything just yet. Rather educate himself and decide what model he is going to use to make money online (Amazon, clickbank, adsense, product creation etc). The big thing though is to invest in tools and services. I spend at least $100 each month on this, and have started to see some good results finally.
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      • Profile picture of the author Mike McAleer
        Originally Posted by TBInternetMarketing View Post

        Wow, $500 a month is a lot more than most people here could afford.
        Ok, if it was me, I would invest in some great tools, and a few courses get going. He shouldn't rush into buying anything just yet. Rather educate himself and decide what model he is going to use to make money online (Amazon, clickbank, adsense, product creation etc). The big thing though is to invest in tools and services. I spend at least $100 each month on this, and have started to see some good results finally.
        Yes! Reinvesting money is the key to even bigger profits.
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        Invest in domains without the hard work !
        Email for details...Mike McAleer at me dot com

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      • Profile picture of the author SmartSuccess
        Hi

        I think you already got some great advice from warriors here...

        Most importantly, which is mentioned a little, is to first understand the game...like they say "you can't play the game unless you know how to play it" (let alone winning it - being successful at it)

        Once you have picked up some good advice and ideas from the Forum and understand what types of models there are to make money and how they work...

        Choose the one you think fits your personality best or you find most interesting (would enjoy doing!)...

        But most off all, you mention your friend has only evenings and weekends available... (at least some time in the week, surely some time you want to spend with family and friends etcetera... do the things that make your life worthwile...)...

        ...Pick something that fits wihtin your available time (limited initially)!!!

        Blogging would be a NO, No.... much to involving from a time perspective, as it involves regularly writing posts, creating podcasts, videos etc... if you want to do it well that is....

        And also it takes a long time before you start to make real money - first you deliver great content and build 'magnetic attention'.... which takes time and hard work...

        But then again any online business model is HARD WORK! (don't be fooled to believe differently)

        Try maybe affiliate marketing first... least time consuming and you may see results quicker too...

        Although a lot of free resources are available, some paid ones are good too... (the following link has nothing to do with me, but is great information)

        http://www.warriorforum.com/warrior-...actly-how.html

        Or just see my signature how you can make money with free eBooks... Not being dependend on the whims of search engines...No Selling...and affiliates falling over themselves to promote your free eBook!

        Sorry just had to throw that one in...

        But please do not outsource until you understand how the process works with which you want to and are making money with...

        Once you develop some systems yourself, you can start to slowly outsource those systems.

        Maybe look at some useful tools initially that can reduce the mundane tasks for you (as you have limited time)...

        Hope that helps and wish your friend all the best with his / her online journey.

        Warm regards
        Arjen
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    • Profile picture of the author Level103
      Originally Posted by daddykool View Post

      Depends on what your friend wants to earn / do?

      What are his likes and dislikes in the real world?

      What is his day job?

      These are important as he can use his $500, his current experience, a few niche keyword domain names, a blog and a cpa offer to make some $

      We have some slots if your friend needs a startup :-)

      Make sure your friend and you, read lots on WF and action what you learn as you go along!
      Depends on what your friend wants to earn / do?

      What are his likes and dislikes in the real world?

      What is his day job?

      These are important as he can use his $500, his current experience, a few niche keyword domain names, a blog and a cpa offer to make some $

      We have some slots if your friend needs a startup :-)

      Make sure your friend and you, read lots on WF and action what you learn as you go along!
      To support his full-time job! $1000 a month would be good? I suppose that is a twice the amount of investment. I'm pretty new to this all, but telling him the wrong thing could land me in some deep water!

      There are so many tools, obviously I have shown him which ones I have used...

      Potentially what could you turn 500$ a month investment into within a year? Approx
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      • Profile picture of the author TBInternetMarketing
        Originally Posted by Level103 View Post


        Potentially what could you turn 500$ a month investment into within a year? Approx
        Unfortunately this is impossible to estimate. Any value would be nothing more than a guess.

        Essentially what he needs to do is find something that works. He doesn't need to spend $500 a month to do this. All he must do is find 1 thing that works and that makes him some money. It could be $100 a month from a website promoting a clickbank product.

        Then what he has is the knowledge that his model works. What he should then do is invest his $500 into expanding this single method. He could outsource the building of his websites, or the writing of his articles. This means that a year from now he could have 100 sites each earning him $100 a month. This is just a very simple example, but it illustrates what needs to be done and how he can really turn this into a real business.
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      • Profile picture of the author SmartHealthShop
        Originally Posted by Level103 View Post

        To support his full-time job! $1000 a month would be good? I suppose that is a twice the amount of investment. I'm pretty new to this all, but telling him the wrong thing could land me in some deep water!

        There are so many tools, obviously I have shown him which ones I have used...

        Potentially what could you turn 500$ a month investment into within a year? Approx
        That's a really broad question; it all depends what he wants to do; affiliate sites? own product branding? e-commerce? its still a decent amount of money for a start to budget with but it has to be a little better defined so that it is not just money wasted.
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  • Profile picture of the author Chris_Willow
    From the top of my head, here's where it can be used:

    -Hosting
    -Domains
    -Aweber
    -Niche research with ppc
    -Product creation
    -Graphic design
    -Some kind of trust seal on the website
    -More ppc
    -Outsource backlinks

    For that kind of money you can easily get everything outsourced quicky.

    Chris
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    THE ORIGINAL
    Killer Sales Video
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  • Profile picture of the author Dash Evra
    -Educate yourself: A $500/month investment can go VERY FAR in internet marketing. But you need to know how to use it efficiently and effectively

    -Find a niche a profitable niche you know about: When you are starting out, don't make the mistake of going into a market you know nothing of or don't have any interest to learn and read about if you are in this for the long run. People are not dumb. Most of them can tell when someone is faking.

    -Invest in targeted list building: I can stress enough how important list building is. That's where the money is. If you manage it right, I guarantee you won't regret it.

    -Reinvest your earnings: If you make $50 this month, you now have $650/month to invest in internet marketing. Let's say you make $100 the following month, you then have $750 per month to invest. at this rate, after six months... Well you see where I am going with this.
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    • Profile picture of the author Level103
      Originally Posted by Dash Evra View Post

      -Educate yourself: A $500/month investment can go VERY FAR in internet marketing. But you need to know how to use it efficiently and effectively

      -Find a niche a profitable niche you know about: When you are starting out, don't make the mistake of going into a market you know nothing of or don't have any interest to learn and read about if you are in this for the long run. People are not dumb. Most of them can tell when someone is faking.

      -Invest in targeted list building: I can stress enough how important list building is. That's where the money is. If you manage it right, I guarantee you won't regret it.

      -Reinvest your earnings: If you make $50 this month, you now have $650/month to invest in internet marketing. Let's say you make $100 the following month, you then have $750 per month to invest. at this rate, after six months... Well you see where I am going with this.
      Thanks for your input!

      With regards to niche, I think you're right - stick to what you know!

      So you mention targeted list building? Why is it so important though? Is this just to sell WSO services? I know most people are building lists but is for products/wso's?
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      • Profile picture of the author Dash Evra
        Originally Posted by Level103 View Post

        Thanks for your input!

        With regards to niche, I think you're right - stick to what you know!

        So you mention targeted list building? Why is it so important though? Is this just to sell WSO services? I know most people are building lists but is for products/wso's?
        Think of it this way...

        Let's say you are in the muscle building niche and you are promoting a guide that teach people how to get a six pack. Which of these scenarios you think would the most effective place to announce your product?

        1. A room containing 1000 random people.

        2. A room containing 1000 people who want to build muscles.

        3. A room containing 1000 people who want to build muscles, who have heard of you and your good reputation.

        I don't know about you but I'd would go with the third option. Well, that's the type of advertising a targeted list with a relationship will bring you.
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  • Profile picture of the author bestrendz
    if i had that amount of money for business. and i am just starting, i would invest it in a one on one coaching course from a successful IMer.
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    • Profile picture of the author Level103
      Originally Posted by bestrendz View Post

      if i had that amount of money for business. and i am just starting, i would invest it in a one on one coaching course from a successful IMer.
      Yes, but how can you trust an IMer on Warriorforum? Obviously post count, but where do people offer there services. I'm not good enough to train others, so is there anyone of recommendation in London?
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      • Profile picture of the author bestrendz
        Originally Posted by Level103 View Post

        Yes, but how can you trust an IMer on Warriorforum? Obviously post count, but where do people offer there services. I'm not good enough to train others, so is there anyone of recommendation in London?
        The WSO is a good place to start with. look for IMers that offer 1 on 1 coaching courses and gives money back guarantees. read the testimonies too. look for newbie friendly WSOs.

        thats what i would do... actually thats what i did.

        hope that helps a bit
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