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If you had $5,000 to invest into a new venture...

by deepbluesea101
9 replies
Moderated: http://www.warriorforum.com/main-int...in-advice.html

http://www.warriorforum.com/main-int...00-budget.html




Warriors,

Come out to play.

I want to try a new venture; an online physical item store in a medium competitive niche. I have set the start-up budget to $5,000 to be on the safe side. How would you distribute the cash? I know this can vary on skill set and person to person but I ask for what you'd do personally assuming you had no current etup to kick start the business.
#invest #venture
  • Profile picture of the author Gman9
    I would go to Las Vegas and head to the first mega bucks machine I came across and start playing till I either hit the jackpot or my money was gone.
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    POPULAR WORDPRESS PLUGINS <> WHAT WP THEME IS THAT
    See What WP Theme That Site Uses! WPTHEMEDETECTIVE.COM
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    • Profile picture of the author benjamenjuan
      i would drop that into 'my advertising pays'
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      • Profile picture of the author eyevad
        Originally Posted by benjamenjuan View Post

        i would drop that into 'my advertising pays'
        Absoloutely
        Made over $60,000 in less than 6 months.....M.A.P.S Rocks
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  • Profile picture of the author mohsin02
    I will buy Alibaba shares....
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  • Profile picture of the author deepbluesea101
    Haha. Maybe I didn't explain myself properly. I'm a software engineer and computer forensics expert by occupation at the moment a good one at that but I work for an anti virus company. I'm too damn bored of my imagination being limited by being told what I have to do.

    This isn't about money yet it's about making a few sales and having a decent looking website. If I wanted to make money on the side I could easily code something and make a hell of a lot more.

    I don't want to fully commit i.e quit my job until I get enough traffic to sustain myself. I have $95,000 in the bank ready to commit to projects if I ever need more I can always code; I've seen methods the public would never get to see. I honestly don't want to though. Perhaps I have lost my enthusiasm that I had greatly before my imagination was dimmed down due to being an employee.

    I hope that helps. I'm not looking for a fully fledged business for 5k, lol. I just want to get out there.
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  • Profile picture of the author kilgore
    Originally Posted by deepbluesea101 View Post

    Warriors,

    Come out to play.

    I want to try a new venture; an online physical item store in a medium competitive niche. I have set the start-up budget to $5,000 to be on the safe side. How would you distribute the cash? I know this can vary on skill set and person to person but I ask for what you'd do personally assuming you had no current etup to kick start the business.
    No offense, but I think this isn't something anyone here can help you with. Your business budget is completely irrelevant until you actually have a business -- or at least a business plan. Figure out your business plan -- and by that I don't mean a formal business plan (I think those are generally a waste of time unless you're trying to get bank financing) -- and as you do so certain expenses will seem obvious.

    For instance, are you going to host your own store or use a service? Each of these has different budgeting implications. Also, do you plan on doing fulfillment yourself? If so, you might want to hire some help, at which that point you might find that $5K is inadequate and that you either have to adjust the plan or adjust your budget. And the list goes on and on.

    Let your business plan drive your budget. Your budget should inform your business plan but not drive it.
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  • Profile picture of the author Chaudhary Daniyal
    Personally, If i had that much cash, I'd invest it into 2 ventures

    - Firstly, I'd get a coach for ~$497 from WSO section. Most of them are really good and I'm sure i'd reimburse my investment and also create some sort of passive income.

    - Secondly, I'd invest the rest into Domain Flipping. This is my passion. I find good domain whenever i search for them, but often leave them unregsitered because of lack of cash. I do have a few domain, but I'm finding it hard to part with them - Could probably get 4 figures for them...
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    Sig in the making ...

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  • Profile picture of the author DaveDunn
    I'd start here..

    Look at your strengths and use them.

    It doesn't make sense to start a business where you wont use them

    So before you even spend a dollar think about this...

    What is the purpose of this business? Hobby? Vanity project? 2nd income? Quit your job?

    Why have you chosen online physical products? Why not software? Why not information?

    What can you do yourself?

    What will you need other people to do for you?

    How much are you prepared to spend on outsourcing?

    How much of that 5k are willing to lose?

    How much time do you have to manage outsourcing?

    How much are you willing to spend on advertising?

    Do you know how much it will cost to advertise?

    Have you done a years sales projection and a cashflow forecast?

    Will this business turn a profit after this year?

    What I wouldn't do is jump straight into this without some proper thought... the most precious commodity you have is time.

    PM me if you need some direction
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  • Profile picture of the author axus_auto
    Start an authority blog with seo and social media marketing.
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