When you have lots of money...

15 replies
...it's easy to spend portions of it on things that can help you progress in IM.

When you have extremely few $$... deciding where to spend it is a huge decision.

So... anyone who has been reading my posts the past few weeks know my situation. And today's tiny paycheque ("paycheck" in the U.S.) is enough that I can spend a little of it on something toward IM.

In the past I would throw money at something to see if it would stick. Lots of things that looked sticky turned out to be coated with teflon. So this time I want to determine first which "need" is sticky and which one is teflon.

I really want to join the War Room. But do I need to at this time?
I'd like to get a domain or two. It is a need, but can it wait or not?
There are a few other things one can do with 40-ish dollars as well, but which one is best?

Yes, everybody has needs unique to their own situation. But advice from others is good, too. Without the WF in my previous IM life, all decisions were made by me, with little direction from anyone other than BUY MY PRODUCT IT WILL SAVE YOU SAY YAYES!!

I should avoid that sort of thing this time around.

So if there are any helpful warriors around, your constructive input would be appreciated.
#lots #money
  • Profile picture of the author cbader
    Pay yourself, re-invest in your business, look for other investments.
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  • Profile picture of the author theory expert
    Banned
    WAS THERE A QUESTION?

    Anywho, anyone will tell you you'll need a domain hosting, and pick something you like doing. Often the suggestion is start with affiliate marketing to get your feet wet. Then if your campaign proves successful you move onto creating a product and pocketing all that moolah you sent to your affiliate yourself!

    What ever business model you decide make sure you enjoy it and good luck out there in the sea of informations!!!!!
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    • Profile picture of the author Joel Young
      Originally Posted by theory expert View Post

      WAS THERE A QUESTION?
      Actually, there were three; right around the middle of my post.

      But yeah, I do have a couple things in the works, and without needing spending a dime just yet. Nothing dodgy, they're solid, and I'm comfortable with them. So while getting a domain is something I'll need to do at some point, so is joining the War Room; so is paying for an autoresponder, and so is this and so is that. There are a number of things I will need as time goes on.

      I guess one big concern is hearing about the War Room so much, and how much it can do for a person, but I'm leery of what I hear because I hear so many things in the run of a day. So if I make that one-time payment, will it be worth it, or should I invest in something else until next payday (two weeks from now)?
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    • Profile picture of the author Walter Parrish
      Originally Posted by theory expert View Post

      WAS THERE A QUESTION?

      Anywho, anyone will tell you you'll need a domain hosting, and pick something you like doing. Often the suggestion is start with affiliate marketing to get your feet wet. Then if your campaign proves successful you move onto creating a product and pocketing all that moolah you sent to your affiliate yourself!

      What ever business model you decide make sure you enjoy it and good luck out there in the sea of informations!!!!!
      I wouldn't tell anyone that doesn't have experience with hosting to go with hosting. Think about it hosting has a high learning curve and takes time.
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by Joel Young View Post

    I really want to join the War Room. But do I need to at this time?
    I think it's very unlikely indeed that you'd actually regret that. But whether you really need to at this time isn't something anyone else can answer without knowing something about your business, existing skills, development needs, and business plan.

    Originally Posted by Joel Young View Post

    I'd like to get a domain or two. It is a need, but can it wait or not?
    Much the same answer as above, really: terribly difficult for anyone else to advise you about this without even knowing what you need/want them for?

    Originally Posted by Joel Young View Post

    There are a few other things one can do with 40-ish dollars as well, but which one is best?
    And again the same answer.

    I'd be happy to try to help, if only I had some sort of basis on which to judge on your behalf. I don't, at the moment, and am honestly struggling to see how others will. I'm not trying to criticise at all, Joel - simply to convey my willingness to try to offer constructive input if I can and explain my lack of ability to do so on the basis of the (lack of) information you've given.

    If one "complete guess" helps, I'd say that in most home-based, small internet marketing businesses, making significant progress without a proper autoresponder (and not a free one) is really stacking the deck against yourself, and my general perception is that, for myself "in your position", that would perhaps be my one absolute priority, if necessary to the exclusion of the other options you mentioned. For many IM businesses, "no list" correlates very closely with "very little income". But again, not all, of course - and I may be wrong.
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  • Profile picture of the author Walter Parrish
    Originally Posted by Joel Young View Post

    ...it's easy to spend portions of it on things that can help you progress in IM.

    When you have extremely few $$... deciding where to spend it is a huge decision.

    So... anyone who has been reading my posts the past few weeks know my situation. And today's tiny paycheque ("paycheck" in the U.S.) is enough that I can spend a little of it on something toward IM.

    In the past I would throw money at something to see if it would stick. Lots of things that looked sticky turned out to be coated with teflon. So this time I want to determine first which "need" is sticky and which one is teflon.

    I really want to join the War Room. But do I need to at this time?
    I'd like to get a domain or two. It is a need, but can it wait or not?
    There are a few other things one can do with 40-ish dollars as well, but which one is best?

    Yes, everybody has needs unique to their own situation. But advice from others is good, too. Without the WF in my previous IM life, all decisions were made by me, with little direction from anyone other than BUY MY PRODUCT IT WILL SAVE YOU SAY YAYES!!

    I should avoid that sort of thing this time around.

    So if there are any helpful warriors around, your constructive input would be appreciated.
    I think we're going to need to know exactly where you are at. What you already know about IM, what skills you have, what your interest is etc..
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  • Profile picture of the author Joel Young
    My apologies to everyone for not divulging enough info about myself.
    • Online since 1999.
    • Website designer since 1999, with own design company that I closed in July 2011 (soon to re-open).
      • Have built umpteen websites for people and companies.
      • Have admin'd forums and websites for various clients, still working with three on a part-time basis.
    • IM'ing since 1999. Not full-time and not every month of every year, but tried enough opportunities and "hot products" to deplete my savings and my stamina. Been stung, have had minor successes, been stung some more. Gave it up in 2008, but dabbled in it the past year by buying Google Sniper and joining All Solutions Network. No real motivation, though, until I found the WF.
      • Back in the game because of the WF giving me focus and direction, which I never seemed to be able to find in my past life.
      • Currently at the beginning of a JV journey that looks very promising, with a fellow warrior; also working together with another warrior who runs a hosting company (Fiverr gigs and a couple other ideas in the works).
    That's a very brief rundown of where I'm at. Hopefully it helps.
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  • Profile picture of the author Gladiator
    Joel I Love Nova Scotia my x wife was from there! Hang in Joel things will come your way soon! Best thing is to just stay focused on one thing till it make you money. But if one must it's better to leave for a while until the money is not an issue because that is what puts all the confusion an stress!

    If I needed someone at this time i would help out But look at my signature there is a great opportunity for anyone.

    Andre
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  • Profile picture of the author dviraz
    that's true spending money wisely can make or break your biz
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  • Profile picture of the author Becky Rogers
    Hi Joel,
    Sounds like what you need is a plan, to figure out exactly what it is you want to do, or what your goals are. Then you can come up with a strategy to get there, and know exactly what your wants, and needs would be without spending unwanted money. If your goal for joining the warrior forum is to get leads, then maybe joining the war room would be warranted, except I see you don't even have a signature set up yet, so that doesn't seem to fit. ...Self education, coming up with a plan, and goal, working with a coach or joining an internet community that can work with you and teach you the step by step process may be your most important decision at your present time. Hang on to your money until you "KNOW" how you need to spend it.
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    • Profile picture of the author getrichinfo
      Originally Posted by Becky Rogers View Post

      Hi Joel,
      Sounds like what you need is a plan, to figure out exactly what it is you want to do, or what your goals are. Then you can come up with a strategy to get there, and know exactly what your wants, and needs would be without spending unwanted money. If your goal for joining the warrior forum is to get leads, then maybe joining the war room would be warranted, except I see you don't even have a signature set up yet, so that doesn't seem to fit. ...Self education, coming up with a plan, and goal, working with a coach or joining an internet community that can work with you and teach you the step by step process may be your most important decision at your present time. Hang on to your money until you "KNOW" how you need to spend it.
      I agree with Becky, you need to settle down and think of a long term plan. Ask yourself, what you want by X months later...
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  • Profile picture of the author Gary Joseph
    In addition to the above, maybe you could obtain a mentor, or friend on here that can show you how you can re-invest that money back into your business.
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    • Profile picture of the author fin
      If you have limited money then you should only spend it to make more money.

      Like if you spent $10 on Facebook and made $12.50 back, you could spend $100 and make $125 back.

      If you don't have something like that in place yet I'd just save it for when you do.
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  • Profile picture of the author shane_k
    well you could take advantage of awebers $1 trial offer, focus on getting some people onto a list, maybe using the JV strategy that you mentioned.

    Then begin learning how to promote to those people on that list to make more money.

    and yes I know that is a bit cliche. But the reason it is recommended so much is because that list becomes an asset.

    Let's say that you do set up a site and with that JV thing you have coming up you drive traffic to your site and have a product on their you are selling.

    Well if you don't have an opt-in form then you really only have one chance to sell to that visitor.

    However if that visitor opt-ins for your list, then you will have multiple chances to make more than one offer to them.

    Think about that for a moment.

    Would you like one chance to sell someone a $25 product, or would you like 4, 5, 6, or even more chances to sell them that same product?

    That is what a list can do for you.

    It can also give you focus. By that I mean once you set up your opt-in form and have your list, then everything after that would be geared toward two tasks, 1) getting people onto that list and 2) learning to maximize the income from that list.
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  • Profile picture of the author Mark Singletary
    I'm sure you are aware that many online marketing needs are recurring. So if you have $40 today and you spend $40 on hosting and an autoresponder, for example, do you have $40 next month for the next billing cycle?

    Alexa Smith has written several posts recently about how to get started for free, literally, and you may want to look at some of the info she's shared to see if it fits.

    Mark
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