What do you do with $1000 seed capital ?

by 12 comments
I am newbie to the IM business world and if the following question (or a similar one) has been asked before then I would be grateful if someone could direct me to the correct thread.

I have always been interested in the IM world but have never had the time to pursue it seriously until very recently when I decided to go for it and invest 1000 USD in my new business venture. All new businesses need to have a business plan before they start so I believe that is where I need to start. I need to have a plan and I am hoping that the pros in this forum can help me out on this.

I know that there are lot’s of ways to skin a cat but how would you recommend I spend my time & money to get my business off the ground in the most efficient manner?

Many thanks
#internet marketing #capital #seed
  • Profile picture of the author Scott Murdaugh
    Think of a niche, find a problem, find a solution to said problem examine your competition.

    Figure out if the demand is there. If it is figure out your competition.

    Spend $200-$450 to outsource the project to a ghost writer, make sure you find a good one though.

    Get your product created. Put it on Clickbank. Start marketing yourself with PPC, paid advertisements, link exchanges, article marketing, forum posting, ect.

    Start recruiting affiliates.

    That's one of many roads you could take.

    Good luck!

  • Profile picture of the author gmichaelh
    Hiya Naj!

    Scott's post is on the money as far as the basic gameplan goes for IM. Although I don't know if I agree on the spending of 2 -400 on a ghost writer. I would say at least try your hand at product creation yourself and see if you can do it. I believe when first starting out it's better to be "hands on" and as you grow and become successful start outsourcing your work. You will have made contacts and have a better idea of where to go to get work like that done.

    I would recommend that you just stick that money away for a bit and start doing your research. There are so many different ways to make money online that knowing which direction you want to go is critical in my opinion. Informatin Overload is becoming very commonplace today with the moving of the "free line" as they say. Everybody is making information available for free to try and build up that all important customer list.

    Although there are tons of ways to make money online when you really get down to the nuts and bolts of it there are just 3 ways to make money online.

    a. Sell your stuff
    b. Sell someone else's stuff
    c. Sell ad space on your site.

    Thats pretty much it. Of course you can break all those down into many different venues. Sell your stuff could be anything from creating your own product and marketing it online to selling stuff from around your house on ebay or one of the many auction sites around. Selling someone else's stuff is mainly covered by affiliate marketing where you market someone else's product and get a percentage of the sale. Selling ad space can be anything from having a site getting tons of traffic and selling ad space to advertisers or Google Adsense on your page to generate income from Google.

    The main point here is as you said in your post. Create a business plan and choose the direction you want to go. My advice would be to do some research into the different areas you can make money and find one that interests you. Then dive in and absorb as much information about that particular area that you can. There is an awful lot of info available for free and many paid programs worth their weight in gold. But there are also many programs and products that are a complete waste of time. So beware.

    Your best bet is to hang out here and gather up info from the people who have been around for a while, read their posts, ask questions, and do your research. The Warrior Forum is a one of the best resources available in my opinion. Hang onto your money for now and spend some time researching all the options out there as there are plenty of them. When you finally decide which direction you want to go you will know where you need to spend your money. If you can, find a mentor who is making money and follow in their footsteps. And don't give up!

    Good Luck!

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