If you were starting out with a $50,000

20 replies
Hi everyone,

I thought this could be an interesting idea for a thread.

If you were starting out in IM now, but had some basic knowledge of the industry, as well as a $50,000 budget, what would be your plan of action?

How do you feel you could make the most of that $50,000 by building a sustainable, long-term business model?

Interested to hear your thoughts

Cheers,

Pope
#$50 #starting
  • Profile picture of the author Gambino
    Easy answer for me.. I'd buy a business that's already profitable and that can be expanded.
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  • Profile picture of the author blitz20
    Paid traffic to building a list, cpa offers and sell advertising to my lists
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  • Profile picture of the author Mark Singletary
    First thing I'd do is ask myself, "self, do you have $50,000 or anywhere close to invest in an online business?" If the answer is no, I wouldn't think another thought about it because it's a colossal waste of time and resources and takes away from my quest for financial independence. Focusing on what matters and what I can control is the only way to get there.

    Second thing I'd do if I did have that money available, is use the search button where this exact question with various amounts of money have already been posted and answered I would guess hundreds of times Again, if I was going to get rich on the Internet, I would need to learn to leverage things already existing.

    Mark

    PS Most of the people answering don't have $500 much less $50,000 to invest so some of their answers may be a little suspect. Of course, we can get inspiration and help from a lot of different sources - even from those that don't otherwise qualify.

    Originally Posted by spope91 View Post

    Hi everyone,

    I thought this could be an interesting idea for a thread.

    If you were starting out in IM now, but had some basic knowledge of the industry, as well as a $50,000 budget, what would be your plan of action?

    How do you feel you could make the most of that $50,000 by building a sustainable, long-term business model?

    Interested to hear your thoughts

    Cheers,

    Pope
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    • Profile picture of the author spope91
      Originally Posted by Mark Singletary View Post

      First thing I'd do is ask myself, "self, do you have $50,000 or anywhere close to invest in an online business?" If the answer is no, I wouldn't think another thought about it because it's a colossal waste of time and resources and takes away from my quest for financial independence. Focusing on what matters and what I can control is the only way to get there.

      Second thing I'd do if I did have that money available, is use the search button where this exact question with various amounts of money have already been posted and answered I would guess hundreds of times Again, if I was going to get rich on the Internet, I would need to learn to leverage things already existing.

      Mark

      PS Most of the people answering don't have $500 much less $50,000 to invest so some of their answers may be a little suspect. Of course, we can get inspiration and help from a lot of different sources - even from those that don't otherwise qualify.


      I agree, it could be considered a waste of time by some, but there's nothing wrong with a bit of brainstorming and visualisation.

      Whether the $50,000 has been obtained and ready to action or it is currently just a goal/target that someone is aiming for, I think it would be interesting to see what ideas people have, and the differences in approach. What's the point of aiming for a monetary figure if you don't have a plan for when you get there?

      Sadly I wasn't able to find much with the search function, hence the thread, but perhaps that's due to this being an inappropriate or boring topic to most.

      I accept a lot of the answers may be quite dubious but I've no doubt there will be valuable contributions too, as always.

      Pope
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      What the mind can conceive, and believe, it can achieve.
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  • Profile picture of the author Regional Warrior
    Posts like this belong here in the off topic section
    this part of the forum is for making money not what ifs , really to asked if a person has 50k for online business just amazes me Pope stop the fantasy and take ACTION
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    • Profile picture of the author spope91
      Originally Posted by Regional Warrior View Post

      Posts like this belong here in the off topic section
      this part of the forum is for making money not what ifs , really to asked if a person has 50k for online business just amazes me Pope stop the fantasy and take ACTION
      A wise point, although it can be difficult to take action without a clear plan, I'm sure you'll agree.

      I can see why you'd prefer to see this thread in the off topic section, but is investment and scaling capital not a key part of "making money"? If I haven't stuck to the forum rules adequately then I do apologise.

      Pope
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      What the mind can conceive, and believe, it can achieve.
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      • Profile picture of the author David Keith
        Originally Posted by spope91 View Post

        A wise point, although it can be difficult to take action without a clear plan, I'm sure you'll agree.

        I can see why you'd prefer to see this thread in the off topic section, but is investment and scaling capital not a key part of "making money"? If I haven't stuck to the forum rules adequately then I do apologise.

        Shaun
        Many of the successful regulars here get tired of answering hypothetical type questions.

        We would much rather spend our time actually helping someone critique or implement a project they are actively working on rather than help folks dream up another idea.

        There are far to many dreamers around here and not very many willing to put in the effort and we just get tired of dealing with the dreamers to be honest.
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        • Profile picture of the author spope91
          Originally Posted by David Keith View Post

          Many of the successful regulars here get tired of answering hypothetical type questions.

          We would much rather spend our time actually helping someone critique or implement a project they are actively working on rather than help folks dream up another idea.

          There are far to many dreamers around here and not very many willing to put in the effort and we just get tired of dealing with the dreamers to be honest.
          Yes I can imagine that becomes immensely frustrating at times.

          It's a shame, that so many "dreamers" have made it easy to tarnish others with the same brush, making members reluctant to put as much time and effort into a post as they once may have done. Despite this, there's still a tonne of people here willing to contribute on the chance they may actually be helping someone, and that is what makes this such a great forum in my opinion.

          Pope
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          What the mind can conceive, and believe, it can achieve.
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          • Profile picture of the author David Keith
            Originally Posted by spope91 View Post

            Yes I can imagine that becomes immensely frustrating at times.

            It's a shame, that so many "dreamers" have made it easy to tarnish others with the same brush, making members reluctant to put as much time and effort into a post as they once may have done. Despite this, there's still a tonne of people here willing to contribute on the chance they may actually be helping someone, and that is what makes this such a great forum in my opinion.

            Pope
            What you actually getting with those people answer though are usually theoretical answers from people who have never done anything of the sort.

            The list of people here who have actually invested 50k in an online project is extremely small. Far smaller than I think most would imagine.

            You also get a lot of answers from sig spammers just looking to get a few more views on their sig.
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            • Profile picture of the author Regional Warrior
              Originally Posted by David Keith View Post

              What you actually getting with those people answer though are usually theoretical answers from people who have never done anything of the sort.

              The list of people here who have actually invested 50k in an online project is extremely small. Far smaller than I think most would imagine.

              You also get a lot of answers from sig spammers just looking to get a few more views on their sig.
              DK
              I think the mods will kills this off very soon or at least move it total waste of time
              RW
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            • Profile picture of the author spope91
              Originally Posted by David Keith View Post

              What you actually getting with those people answer though are usually theoretical answers from people who have never done anything of the sort.

              The list of people here who have actually invested 50k in an online project is extremely small. Far smaller than I think most would imagine.

              You also get a lot of answers from sig spammers just looking to get a few more views on their sig.
              I agree, although the majority of successful people have started out with nothing but a theory

              I'm not expecting people to rollout business plans or success stories from 50k investments, I just thought this could be an interesting topic of discussion. Perhaps I was wrong.

              Pope
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              What the mind can conceive, and believe, it can achieve.
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            • Profile picture of the author emmerson
              This really is a thread that's not constructive at all, unless the OP has 50k ready to go. We're only gonna worsen ppl's shiny object syndromes.........Despite that though I would say def. CPA
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  • Profile picture of the author slammer81
    If you are investing, you are likely buying an online property - making the assumption that you are starting from scratch (with some knowledge) in online activities. The definition of "some basic knowledge" is what we need to get into here.

    If you have "some basic knowledge" i'd look for traffic generating online properties that I can spend fractions of that 50K on building traffic - buying likely off someone who was of a weaker knowledge base than myself.

    Nice thread idea indeed.
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    • Profile picture of the author spope91
      Originally Posted by slammer81 View Post

      If you are investing, you are likely buying an online property - making the assumption that you are starting from scratch (with some knowledge) in online activities. The definition of "some basic knowledge" is what we need to get into here.

      If you have "some basic knowledge" i'd look for traffic generating online properties that I can spend fractions of that 50K on building traffic - buying likely off someone who was of a weaker knowledge base than myself.

      Nice thread idea indeed.
      I think this is a solid idea. Similar to real estate in some respects, in the sense that you're just purchasing productive assets (ideally under their appropriate value).

      The trouble with this is that I imagine it's difficult to find and un-earth such assets. I hear there's a lot of fraud/rubbish being turned over on Flippa these days for example?

      Pope
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  • Profile picture of the author salegurus
    Originally Posted by spope91 View Post

    Hi everyone,

    I thought this could be an interesting idea for a thread.
    No offence OP but NO, not "an interesting idea for a thread"...
    It's been done to death and serves no purpose whatsoever.

    Have you got the 50K to invest? doubt it... Just like so many of the respondents who actually answer this don't even have 5% of that...

    We all think that we come up with the most brilliant never before seen thread topics when in reality it's all been done before....
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    • Profile picture of the author spope91
      Originally Posted by salegurus View Post

      No offence OP but NO, not "an interesting idea for a thread"...
      It's been done to death and serves no purpose whatsoever.

      Have you got the 50K to invest? doubt it... Just like so many of the respondents who actually answer this don't even have 5% of that...

      We all think that we come up with the most brilliant never before seen thread topics when in reality it's all been done before....
      I think the matter of it being an interesting idea for a thread or not is entirely subjective.

      The purpose of this thread wasn't necessarily for people to believe/doubt that I have $50,000 available as a budget, it was merely to open a discussion on what ideas people would consider fi the capital was available to them. If you feel such an exercise is beneath you or a waste of time, it isn't compulsory to respond to the thread.

      I wasn't able to find a thread of similar nature other than a few based on 2-3k budgets so I felt this thread could offer more of what I was looking for. Perhaps I should have searched further.

      I have clearly upset a few people with this thread so I do apologise, I did not intend any harm or irritation.

      Pope
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    • Profile picture of the author jasondinner
      Originally Posted by salegurus View Post

      No offence OP but NO, not "an interesting idea for a thread"...
      It's been done to death and serves no purpose whatsoever.

      Have you got the 50K to invest? doubt it... Just like so many of the respondents who actually answer this don't even have 5% of that...

      We all think that we come up with the most brilliant never before seen thread topics when in reality it's all been done before....
      Thats the issue. Although I know of at least one respondent who has invested that and more, most people who will chime in here to offer their "helpful suggestion" probably don't even make $50K per year at their job - let alone have $50K to invest in an online venture.

      This is just as bad as the "how would you make $400,000" thread.
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  • Profile picture of the author Jonwebb
    Id look to find a business with the best earning yield. then buy some or all of it.
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  • Profile picture of the author Mark Singletary
    OP I wasn't trying to be negative. Focus and leverage and doing what matters most are soft skills that will determine whether the $50,000 investment increases or is wasted.

    I think what ifs and dreaming ARE good to help light a spark. However, many here (including me in the beginning) do NOTHING BUT dream. They want to make $400,000 a year but don't want to do any SEO or have nothing to start with or aren't sure about much of anything. They aren't willing to start with one site, one $5 a day, and build.

    Sadly I wasn't able to find much with the search function, hence the thread, but perhaps that's due to this being an inappropriate or boring topic to most.
    You need to do better than that if you want to make your $50,000 grow. Here are a few threads that at least from the titles (I didn't read the content) seem to be along the lines of what you are looking for. This took about 5 minutes of searching.

    http://www.warriorforum.com/main-int...-business.html
    http://www.warriorforum.com/main-int...dy-income.html
    http://www.warriorforum.com/main-int...-10-000-a.html
    http://www.warriorforum.com/main-int...e-venture.html
    http://www.warriorforum.com/ecommerc...what-sell.html
    http://www.warriorforum.com/main-int...-000-cash.html
    http://www.warriorforum.com/main-int...-10-000-a.html
    http://www.warriorforum.com/main-int...o-5-000-a.html
    http://www.warriorforum.com/main-int...p-capital.html
    http://www.warriorforum.com/main-int...-10-000-a.html
    http://www.warriorforum.com/main-int...00-invest.html
    http://www.warriorforum.com/main-int...ou-invest.html
    http://www.warriorforum.com/main-int...ld-you-do.html
    http://www.warriorforum.com/main-int...-15-000-a.html
    http://www.warriorforum.com/off-topi...-50-000-a.html

    Mark
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