I have plenty of disposable income, how would you suggest I use this to make money online?

38 replies
I am an entrepreneur, and I make decent money. However, I'm not happy with what I'm doing and it eats up a lot of my time. Due to the fact that I have a good bit of disposable income from my current business, things such as outsourcing, etc. are things that I am thinking about, but I'm just not sure how exactly I would best use my money to start up my own online business.

I've been reading a lot about online business for quite some time now, and I know the basic idea - Find a market that needs a solution to a product, then create a product and sell it to them.

That's essentially what I plan on doing. Only I'm just confused as to exactly where to start with all of this. I do feel that I have an advantage given the fact that I have plenty of expendable cash to help get my online business started.

Things that I am personally into:

Music
Weight lifting
Jiu-Jitsu
Dating
Self-help (mediation, positive thinking, etc.)


Any suggestions as to what initial first steps to take would be greatly appreciated. Thanks a lot!
#disposable #income #make #money #online #plenty #suggest
  • Profile picture of the author Brent Stangel
    Any suggestions as to what initial first steps to take would be greatly appreciated.
    Start with affiliate marketing after you learn email marketing.
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    Get Off The Warrior Forum Now & Don't Come Back If You Want To Succeed!
    All The Real Marketers Are Gone. There's Nothing Left But Weak, Sniveling Wanna-Bees!
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  • Profile picture of the author travlinguy
    Buy profitable business that can prove their income claims.
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    • Originally Posted by travlinguy View Post

      Buy profitable business that can prove their income claims.
      That is definitely the advantage you have and then you can outsource a manager to oversea the daily tasks of running the business.
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  • Profile picture of the author laurencewins
    mediation? or do you mean meditation? That is a growing field.
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  • Profile picture of the author benjamenjuan
    list building
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  • Profile picture of the author Rob Aseto
    Yes I meant meditation.

    And I was thinking more along the lines of finding someone to create the product for me (I'm thinking a 10-eBook course of some sort), and sell it for something like $37, which would seem like a steal because I'd make sure that my product over delivers.

    Obviously, I'd use any buyers to promote further products to via. List building.

    I'm just stuck on the whole "how to decide on what product to make" thing. Like, I don't know how to go about looking for a 'problem'.

    I have a rough idea in my mind of how I intend to wisely higher other people to do the initial work for me, but I want to make sure that I'm going about everything the right was such that I don't waste my time and money.
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    • Profile picture of the author jasonwebb71
      1234567890
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      Now I remember why I left here many years ago!
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    • Profile picture of the author JakeStatler
      Originally Posted by Rob Aseto View Post

      Yes I meant meditation.

      And I was thinking more along the lines of finding someone to create the product for me (I'm thinking a 10-eBook course of some sort), and sell it for something like $37, which would seem like a steal because I'd make sure that my product over delivers.

      Obviously, I'd use any buyers to promote further products to via. List building.

      I'm just stuck on the whole "how to decide on what product to make" thing. Like, I don't know how to go about looking for a 'problem'.

      I have a rough idea in my mind of how I intend to wisely higher other people to do the initial work for me, but I want to make sure that I'm going about everything the right was such that I don't waste my time and money.
      Here's the thing. If you want to make real money online and you plan to over deliver on the eBook, bring your customers in at the eBook level for $17 and then over deliver and upsell on a $197 product. Once they buy from you once and they like your content, they will be looking for your next offer and this is where you come in and really make your profits. That front end low ticket sale is the way you get them into your real money making funnel.
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    • Profile picture of the author hometutor
      Originally Posted by Rob Aseto View Post


      I'm just stuck on the whole "how to decide on what product to make" thing. Like, I don't know how to go about looking for a 'problem'.
      Watch entertainment tonight and those other star shows pick the popular topics of the day
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  • Profile picture of the author skyro
    Dating would be a good niche to get into and there are tons of products to promote in this niche. Since this one of the things your interested in I would go with this one. I would create a blog in dating niche and I would begin building a list and communicating with your subscribers getting them to check out your blog post and promoting your dating products. I would try to find solo ad vendors in the dating niche for traffic and I also heard plenty of fish is a good place to find dating traffic.
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  • Profile picture of the author propaid12
    Affiliate for amazon or ebay youll get lots of sales
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  • Profile picture of the author Ramesh Dontha
    Rob,

    I think you are already ahead in this game as you have specific ideas and expertise. Many people struggle with that to get started. One of the ways to identify 'the problem' is go to clickbank and search for high gravity digital marketing digital goods in your area. This tells you that they are the ones that are popular currently. And add to that, go into Google keyword tool (or some other keyword research tool) and enter your keyword and look for volume on other related keywords. This tells you what people are searching for. That should get u started.
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  • Profile picture of the author jeremytfleming
    Interesting. I just posted a similar question before seeing your thread!

    My best of luck to you in your ventures.

    Jeremy
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  • Profile picture of the author WillR
    Go and hang out where the market hangs out.

    For example, if I wanted to create a product for the meditation market I would go and find the most popular forums and Facebook groups/pages for those interested in meditation.

    I would then go through and find the most popular threads and also keep en eye out for those questions that keep getting asked over and over again.

    That should give you plenty of ideas for products.

    Also go and find what is already selling well in your market, work out what it is missing or how you can make it better, and then create a product that is better than the current alternative.
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  • Profile picture of the author attackdome
    Hey there Rob!

    I've been in the same situation, but discovered a really easy method to do this SH*bleep*!

    1. Pick a Niche such as dating and make a website or have someone make a website for you (pm me if you need help).
    2. Sell a PLR product or make your own.
    3. Generate an email list from the people who bought the product.
    4. Market affiliate links from anywhere to them.
    5. Get paid.

    Oh and don't forget to send traffic to your website by promoting it on niche forums and stuff.

    Depending on your conversion rate and list size, you can eventually hire people to write the affilate product sales pages for you.
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    Moderator's Note: Affiliate link not allowed. Please edit.

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  • Profile picture of the author instanttax
    [DELETED]
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    • Profile picture of the author Andre Slater
      Build a list is the key...

      Promote an affiliate product with high commissions and big ticket items.
      -or-
      Create a product to market
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      • Profile picture of the author salegurus
        Originally Posted by Rob Aseto View Post

        I am an entrepreneur, and I make decent money.
        Since you are a self proclaimed entrepreneur, can you elaborate on your current business?
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        • Profile picture of the author Rob Aseto
          Originally Posted by salegurus View Post

          Since you are a self proclaimed entrepreneur, can you elaborate on your current business?
          Sure. I'm a full-time musician. Additionally, I give guitar lessons during the days. I also buy and resell used motorcycles and guitar equipment. All of these things require my time and presence.

          I'm trying to switch my income over to a more passive lifestyle. I know there's no such thing as 100% passive income, but I'm sure you're all aware of what I'm talking about here....I've written 6 non-fiction ebooks on things that I know how to do, but none of them are really what I consider to be amazing products. I made a few sales here and there on amazon kindle and direct from my website, but I fell into the trap of 'creating a product before finding a market'. For example, one of my books explains how I managed to make a decent living as a musician. My motivation to write the book was good in that I actually took action, but unfortunately there's not a huge market for this type of product.

          But basically I'm looking to create amazing products in which Im knowledgeable about, but that I can outsource to others to make for me, create the website with auto-deliverability, etc...

          I just know that I don't want to try and do everything myself (like I did with my last ebooks and website). I'd rather hire people to do the tedious work in the product creation part, and just focus on the making sales part....maybe even outsourcing the marketing as well.

          Anyway, thanks for all the suggestions everyone.
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          • Profile picture of the author tudexo
            Originally Posted by Rob Aseto View Post

            Sure. I'm a full-time musician. Additionally, I give guitar lessons during the days. I also buy and resell used motorcycles and guitar equipment. All of these things require my time and presence.

            I'm trying to switch my income over to a more passive lifestyle. I know there's no such thing as 100% passive income, but I'm sure you're all aware of what I'm talking about here....I've written 6 non-fiction ebooks on things that I know how to do, but none of them are really what I consider to be amazing products. I made a few sales here and there on amazon kindle and direct from my website, but I fell into the trap of 'creating a product before finding a market'. For example, one of my books explains how I managed to make a decent living as a musician. My motivation to write the book was good in that I actually took action, but unfortunately there's not a huge market for this type of product.

            But basically I'm looking to create amazing products in which Im knowledgeable about, but that I can outsource to others to make for me, create the website with auto-deliverability, etc...

            I just know that I don't want to try and do everything myself (like I did with my last ebooks and website). I'd rather hire people to do the tedious work in the product creation part, and just focus on the making sales part....maybe even outsourcing the marketing as well.

            Anyway, thanks for all the suggestions everyone.
            Did you try the music market? I mean create a product around guitar lessons and sell it?
            Whatever you do, don't try to do everything all by yourself. I guess a packaged business would be more suited for you.
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  • Profile picture of the author Bannaz
    I'd consider choosing a niche and going down that route. Meditation is growing a lot right now.
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  • Profile picture of the author ahlanmarketing
    Invest into the technology market.
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  • Can also go in the facebook line by getting up a facebook page in a certain niche that you will have to grow by getting all the lovers of that niche so that the follow you.

    After getting a better following you will be able to promote some products that are in that niche on this page. This will make all those following and are interested in that niche to start buying that.
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  • Profile picture of the author 2014leon
    Try list building or have shares in a business
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  • Profile picture of the author sr.20
    get a mentor . best investment you can make
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  • Profile picture of the author rodonet
    How about a course on Self Defence For Men Abused By Their Partners? I'm sure there's a huge pent-up demand in this niche (as no one thought of it before) and you could make a killing. You may pay me a small royalty if the idea takes off.
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  • Profile picture of the author Rob Aseto
    Haha thanks for all the advice guys. The reason I laugh is because of the amount of "sharks" on here that pm'ed me after I posted this. They saw that I said that I have money to spend, and so the offers for help have been flowin! I appreciate the interest in wanting to "help" me, but this is a solo venture of mine. Sorry guys, I don't just give it away.
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    • Profile picture of the author ChrisDH
      Originally Posted by Rob Aseto View Post

      Haha thanks for all the advice guys. The reason I laugh is because of the amount of "sharks" on here that pm'ed me after I posted this. They saw that I said that I have money to spend, and so the offers for help have been flowin! I appreciate the interest in wanting to "help" me, but this is a solo venture of mine. Sorry guys, I don't just give it away.

      LOL your title to the post is as good as spreading yourself in honey and walking into a bee hive, you are going to get some fkers trying to sting you.

      I would definitely recommend outsourcing. It is a great business to be in if you find a good niche and can manage people well.

      Like anything out there it takes a lot of graft to get going though but stick at it and it can be very rewarding.
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  • Profile picture of the author Jack Gordon
    I am going to go against the grain.

    I think your attitude is dooming you to failure.

    I see what you are trying to do, and I can tell you that it just won't work. You don't build a successful business without getting your hands dirty. You won't sell ebooks or other products without first building a community (or to Seth Godin-ize it, a "tribe") that knows, trusts and respects you.

    And you won't build that tribe by phoning it in. There is way too much competition out there that is working harder than you are to be the leaders in their niches.

    My suggestion?

    Rethink everything.

    Pick one niche. Develop one product (yourself). Put your heart and soul into it. Then get out there and give it away to get feedback and testimonials. Build a fan base. Get known for it.

    You still haven't made any money, but now you have something to build on. Start selling it, use it to build credibility for a higher-end product (training, video series, whatever)

    Easy? No way. But it is more realistic than what you think will work right now. It will take time and effort. But once you have done the work and invested the time, you will have the foundation to do real business going forward.

    Not what you were hoping to hear, but if you listen to me I just saved you a lot of frustration and cut your learning curve in half.

    You have already built a business. You know exactly how much work is involved. Just because the internet is a different medium, it doesn't change the fundamentals of how business works.

    One last word... forget about outsourcing anything for now. Do the work yourself first. Make the mistakes, get the experience. Make sure you know every part of this business inside out. Then, when it is making some money on its own, think about which parts you can and should outsource.
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    • Profile picture of the author Romeo90
      Originally Posted by Jack Gordon View Post

      I am going to go against the grain.

      I think your attitude is dooming you to failure.

      I see what you are trying to do, and I can tell you that it just won't work. You don't build a successful business without getting your hands dirty. You won't sell ebooks or other products without first building a community (or to Seth Godin-ize it, a "tribe") that knows, trusts and respects you.

      And you won't build that tribe by phoning it in. There is way too much competition out there that is working harder than you are to be the leaders in their niches.

      My suggestion?

      Rethink everything.

      Pick one niche. Develop one product (yourself). Put your heart and soul into it. Then get out there and give it away to get feedback and testimonials. Build a fan base. Get known for it.

      You still haven't made any money, but now you have something to build on. Start selling it, use it to build credibility for a higher-end product (training, video series, whatever)

      Easy? No way. But it is more realistic than what you think will work right now. It will take time and effort. But once you have done the work and invested the time, you will have the foundation to do real business going forward.

      Not what you were hoping to hear, but if you listen to me I just saved you a lot of frustration and cut your learning curve in half.

      You have already built a business. You know exactly how much work is involved. Just because the internet is a different medium, it doesn't change the fundamentals of how business works.

      One last word... forget about outsourcing anything for now. Do the work yourself first. Make the mistakes, get the experience. Make sure you know every part of this business inside out. Then, when it is making some money on its own, think about which parts you can and should outsource.
      I wholehearetdly agree with you Jack.

      As for creating your first product, I STRONGLY believe you should build it yourself from the ground up.

      WHY? Because you need to create it, you need to nurture it and you need to LOVE it yourself before anyone else will love it.

      Just like children. You love your own and think they are THE best ever. But with other people's children, you don't have that sort of connection.

      Same with a product. You need to know it inside out. You need to have a connection with it.

      Anyone who has created a product all by themselves and had someone else create a product for them will know exactly what I mean by that.

      And community. You need to establish yourself, somewhere, as an authority figure. Years ago, i identified one forum (not this one) that I would become an authority on. I went out of my way to build relationships, I went out of my way to help people.

      I released my product on that forum with great success, and I had an army of members recommending it to new members joining up. All because I took time to help out and become known as an authoriuty in my niche.

      Not only this but I also feature in special promotions organised by the forum owners and I do guest articles for their blog - all helping my own exposure and further building credibility.

      I don't even have to sell on that forum anymore. The reputation I built sells for me.

      Simply getting a product built by someone else and then charging $37 because you believe you will overdeliver sounds like something that is ready to fail from the outset.

      You really need to think more about this.

      Sorry.

      Good luck.
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  • Profile picture of the author Terrance01
    Originally Posted by Rob Aseto View Post

    I am an entrepreneur, and I make decent money. However, I'm not happy with what I'm doing and it eats up a lot of my time. Due to the fact that I have a good bit of disposable income from my current business, things such as outsourcing, etc. are things that I am thinking about, but I'm just not sure how exactly I would best use my money to start up my own online business.

    I've been reading a lot about online business for quite some time now, and I know the basic idea - Find a market that needs a solution to a product, then create a product and sell it to them.

    That's essentially what I plan on doing. Only I'm just confused as to exactly where to start with all of this. I do feel that I have an advantage given the fact that I have plenty of expendable cash to help get my online business started.

    Things that I am personally into:

    Music
    Weight lifting
    Jiu-Jitsu
    Dating
    Self-help (mediation, positive thinking, etc.)


    Any suggestions as to what initial first steps to take would be greatly appreciated. Thanks a lot!
    Put all of the options in a hat....and pick one out...then dedicate to it 110% ...it has less to do with what you pick and more to do with your commitment and persistence.

    To your Success,

    -Terrance
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  • Profile picture of the author afakih2002
    I suggest that you post a thread in the JV section here on the WF.You'll find many product creators willing to do everything for you.You'll only have to invest anywhere from $1k to $25k.
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  • Profile picture of the author gjabiz
    Rob,

    For your consideration...a look at

    Melvin Powers Wilshire Book Company - Home Page

    My old friend, the late Melvin Powers was a successful Entrepreneur in the PUBLISHING business. Melvin started with ONE book, you already have several, in diverse areas.

    The way to put all of your interests under one Entrepreurial roof is to be a publisher, albeit, an ABSENTEE, somewhat passive owner.

    As your PM's show, there isn't a shortage of people who want your money, and think of authors as "out sourced product developers"...

    A few years ago, I had the opportunity to analyze a couple of established publishing businesses, one, Green Tree Press, was "on the market" and I did the market analysis for it. The owner decided to retire, rather than go into the digitial age...and his products were aging quickly.

    BUT, consider a few years ago, NO Amazon Kindle, no tablets, no ereaders, etc. and you should quickly see there is a huge potential for publishing...in small niches especially.

    EVERYTHING can be outsourced, there are several writers here at WF which could create content, do your web site, run your own affiliate program...

    I wrote a report 15 years ago about buying and selling, and one section of that report (The Chattel Report; The Sprint to Freedom) covered MUSICAL instruments and how to set up NETWORKS of buyers and sellers (mostly through music stores and local bands, high schools) and it is something you are doing.

    So, as you are gathering ideas, looking for that one thing which could cover all of your interests, consider setting up a PUBLISHING concern.

    All of your areas of interest have produced winners, when I was consulting with SCI (Suarez Corporation Industries), they had a best selling book, HIKUTA, which was sold by direct response advertising.

    Put the work you've already done to work, make it pay off.

    The Plan looks something like this:

    Set up a Publishing Company, RobAst Pubs.
    Get a web site. Outsource the set up. Put your current works up for sale.
    Become an affiliate for other products (or a drop shipper, like Wilshire offers).

    NOW, you have something to sell, and a place to sell it.

    Solicit content creators, authors, have a short form they can fill out so it doesn't take much time. Select the best and keep adding titles.

    Just one opinion, you have enough done to act on already, you don't need an answer to HOW to get started, you just need to have a good plan, with a tested and proven track record, easy entry, wanted, needed and people willing to pay you and also people who will work for you.

    In a couple of years, you could have a nice passive income while not spending a lot of time on the business, because...

    BECAUSE...you took the time today,

    to set it up properly.

    Good luck.

    gjabiz





    Originally Posted by Rob Aseto View Post

    I am an entrepreneur, and I make decent money. However, I'm not happy with what I'm doing and it eats up a lot of my time. Due to the fact that I have a good bit of disposable income from my current business, things such as outsourcing, etc. are things that I am thinking about, but I'm just not sure how exactly I would best use my money to start up my own online business.

    I've been reading a lot about online business for quite some time now, and I know the basic idea - Find a market that needs a solution to a product, then create a product and sell it to them.

    That's essentially what I plan on doing. Only I'm just confused as to exactly where to start with all of this. I do feel that I have an advantage given the fact that I have plenty of expendable cash to help get my online business started.

    Things that I am personally into:

    Music
    Weight lifting
    Jiu-Jitsu
    Dating
    Self-help (mediation, positive thinking, etc.)


    Any suggestions as to what initial first steps to take would be greatly appreciated. Thanks a lot!
    {{ DiscussionBoard.errors[9714304].message }}
    • Profile picture of the author rodonet
      Originally Posted by gjabiz View Post

      My old friend, the late Melvin Powers was a successful Entrepreneur in the PUBLISHING business. Melvin started with ONE book, you already have several, in diverse areas.
      I thought Melvin Powers is still alive. When did he die?
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  • Profile picture of the author usemyteam
    Study your own interests and choose one which you believe you can really work on. Start with that and everything should follow.
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  • Profile picture of the author Rob Aseto
    Gjabiz...thank you so much for that idea!!! I really like the sounds of that. I will definitely be strongly considering that!

    @ Jack Gordon...

    Perhaps you misunderstood me. Actually, it's more likely that I was unclear on my intentions.

    I absolutely do intend to put 100% effort into whatever project I happen to come up with. For instance, if I were to come up with a "guitar course" for example, I would undoubtedly be the one creating and organizing all of the content. I would want the product to be EXACTLY as I want.

    When I refer to "outsourcing", I'm simply talking about the mundane, time-consuming tasks such as making a pretty website, video editing, formatting the files, setting up an auto-delivery method, possibly even marketing, etc...

    When I made my first website, which contained my 6 ebooks, I did everything. I built the website from scratch (it looks amateur at best ); I wrote all the articles; I made several videos (including editing and all that); I wrote the books from scratch using Microsoft Word, only to find out that formatting into acceptable eBook form was an entirely different task in and of itself, which I also did myself; I set up an aWeber account and created a series of emails; I created an auto-delivery service using eJunkie; I figured out how to connect aWeber and E-Junkie together such that those who purchased my book had the option to also join my mailing list; I learned about mandatory opt-in vs. optional opt-in. That's just to name a few of the tasks that I attempted to do all by myself; there is certainly a lot more that I can't think of off the top of my head!

    I did everything, and it was a lot of extremely time-consuming work.

    I'm certainly not one who has a problem "doing the work". However, I do feel that I have the advantage of outsourcing many tasks to other, such that I can focus all my working hours on making sure that the product that I create is 100% PERFECT.

    Hopefully this helps to clarify exactly what I'm looking for; I wish I had a clearer goal and objective. Right now I simply just have a blurred vision of "sort of what I want to do", but there are still many many uncertainties as to how I intend to go about doing all of this.

    Thanks again everyone, including the sharks who pmed me trying to get money from me .
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  • Profile picture of the author Jason Lavis
    You mentioned that you do not have a lot of time, if you start from scratch online then you are likely to spend a huge amount of time failing. Unless you understand keyword research and SEO then you are likely to experience failure and frustration. I used to only build sites from scratch and my hourly financial return was awful for a long time. I was failing without knowing why. I think you should buy 2 or 3 websites that already have verified traffic, rankings and revenue. Look under the hood and find out why they are working well. Then understand keyword competitiveness and competitor research. At some point you will have complete clarity and inspiration for your meditation site or anything else. In the meantime you will get your invested capital back in 15-30 months for your initial sites.
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  • Profile picture of the author hollyda31
    Go to Internet Business Mastery. Listen to ALL of their podcasts - every single one! Specifically, make sure to listen to their series on creating & launching your first product.
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  • Profile picture of the author pauljones99
    Become an investor then. As long as you do your D.D. and realize 99.9999% will lose money. Look past the hype and B*S* you'll come across in abundance. Weed out the 0.0001% and become a silent partner. If you don't like the grind, it's the best way.
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