What Would YOU Do In This Scenario?

11 replies
Hey Warriors,

I was thinking today about something...

I'm teaching one of my buddies about how to make money online. And of course, my advice is very different than what I started doing when I started out...

If you could go back in time and build you business knowing what you know now, what would you do? How would you invest your money? How would you invest your time?

One of the things that I would definitely do is start outsourcing immediately!
#scenario
  • Profile picture of the author Jake Gray
    If would definitely start networking with others. You have no idea
    what potential you have until you actually do what you say you will.

    As for outsourcing, that gets interesting at times. It depends on what
    I am outsourcing. I obviously wouldn't outsource a product of mine, but
    I would definitely outsource manual linkbuilding. There are things that I
    wish I hadn't/had done, but hindsight is always perfect.
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  • Profile picture of the author dvduval
    I actually still enjoy developing new businesses, and it has always been something that interests me, so even though I did it before, I am also doing to now.
    Signature
    It is okay to contact me! I have been developing software since 1999, creating many popular products like phpLD.
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by prophetmktg View Post

    One of the things that I would definitely do is start outsourcing immediately!
    I often see people say this.

    I must admit, I'd outsource fewer things, and a later stage, if having a "second time around".

    I made the mistake of outsourcing things I didn't first know how to do myself - and that's not typically a recipe for success.
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    • Originally Posted by Alexa Smith View Post

      I must admit, I'd outsource fewer things, and a later stage, if having a "second time around".

      I made the mistake of outsourcing things I didn't first know how to do myself - and that's not typically a recipe for success.
      Agreed. With any business, IM or not, offline or online, you have to know how to do most things yourself so you understand how things work both separately and together. Once you have a good handle on things, though, outsource as much as possible.

      A perfect example of when and why to outsource:

      Unless you happen to develop websites for a living, there's no sense spending 3 months doing your own from scratch, making absolutely no money during that time, when you could have spent $500 with a pro to do it in a week (and much better, I might add), been up and running a few days later, and 3 months later had $10,000 in your pocket.

      Obviously, Wordpress would a great alternative for this situation, but keep in mind this is just an example.

      For the most part, if you can find someone that can do it cheaper, faster and better than you... outsource it, and free up your time to do other things such as researching more niches, setting up more businesses, etc.

      Just make sure to get personal recommendations before using someone else. Crappy work is just throwing your money out the window.
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      • Profile picture of the author michaeldoring
        If you could go back in time and build you business knowing what you know now, what would you do? How would you invest your money? How would you invest your time?
        Firstly, I could write 500 pages on what I have learnt, and what I would do different. I started out on my internet-marketing journey in Sydney, Balmain on New Year's Eve 2009. For months now, I had been planning design of a sports betting application, and had 20 GBs of research, and a 200-page planning document, but no website.

        However, that New Year's Eve night, over few-to-many, a mate already pursing IM gave me an idea to create a website. So come January 1st 2010 I had registered my first domain name for internet marketing. It failed. However, a year later come February 2011, I finally started having the elusive $100 days, and even $300 days, so I quit work, and for 3 months now I have been a full-time IM, and still $100 days, and my online assets are growing.

        When I first started I was a perfectionist, I invested too much time into learning, and doing stupid things. So, now that you know the short version to my IM success, what would I do different, lots, but the standout things I would change are:
        • Shed my dreaming (just-learn/talk) habits much earlier, and become a doer.
        • I knew the core concepts to start my IM a week-in, but my perfectionist side got the better of me, and I spent months learning theory and taking no action. If I could go back, I would keep in mind, the light-switch theory that goes something like 'you don't need to know everything about electricity to flick a light switch.' I would take action much sooner.
        • I also would have gone part-time at work, and focused on IM. You should only go part-time, or quit work, if you have the financially stability to survive without a job, or on part-time wages.
        • I would have started a foot-in-the-door, affiliate site at the very start. As affiliate sites, that have some SEO, and/or lots of content, tend start earning you $30 a day before long, and when that hits $100, you can say goodbye to your day job, and swear your head-off at your previous ungrateful employer and tell him you quit.
        • I would program-my-mind to not be a perfectionist, and just do. If I find myself going down the path of perfectionism, I would say to myself just one-word, "versioning", this word reminds me that I can always make it better later, version 2, 3, 4 can be the one that gives me that insane-crazy-person-unrealistic-feeling of its perfect. P.S. I have never heard "versioning" used in this way before, it's my own idea, and it truly works, try saying "versioning" to yourself as it's a great word to steer you back to being a doer.
        • I would have invested in a whiteboard to start-with. I use to get overwhelmed every day, up until about a month ago when I purchased a white-board. I had so many websites, tasks, and ideas that every day I was waking up with a feeling of dread. Everything I had to do kept floating around in my brain, stressing me out. However, when I got that whiteboard, I put everything on it. For example, under headings I would put everything I had to do, such as for x website I put every task I have planned for that bad boy, I added my financial state to the whiteboard, a section for urgent tasks, etc.

        In summary, if I could go back in time knowing what I know now, I would change so much, but the core three things related to IM would be, 1. get a white board to remove the stress, 2. stop just-learning and learn on the run, 3. become a doer.
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    • Profile picture of the author Robert Brauer
      Originally Posted by Alexa Smith View Post

      I often see people say this.

      I must admit, I'd outsource fewer things, and a later stage, if having a "second time around".

      I made the mistake of outsourcing things I didn't first know how to do myself - and that's not typically a recipe for success.
      You are totally right. I should add to what I said before...

      I would first systemize, in a 1-2-3 style checklist, everything that I do or need to do each day that brings in money...Then I would outsource it for cheap.
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  • Profile picture of the author travlinguy
    I would get hooked up with someone who's good at SEO a lot sooner. I can write all day and night but when it comes to the tedious (to me) details of all the SEO stuff, I want help. I started in the late 90s when it was pretty easy to get noticed by the SEs. Google was a baby and things were nice. Now it's really competitive.

    If you're asking for your buddy I think it depends on his skills and what he likes to do.
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  • Profile picture of the author Steve Johns
    I would focus more on traffic and list building. It doesn't matter how good your product/service is, if people don't know about it... you can't make sales.
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    • Profile picture of the author PatriciaJ
      I would have done the Challenge a year sooner
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  • Profile picture of the author coco28
    I would say learn about copywriting. Doesn't matter how many visitors your website has, if you can't convince them to visit the merchant's page/buy your product then you aren't going to make any money.
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  • Profile picture of the author incliner
    With no money, I'd start hanging out at the warrior forum and try to help as many people as possible. Create simple products that could be given away or sold for cheap. Build relationships and promote each other's products. Use WSO's to build a list.
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