28 replies
Hey all,

I'm currently at a crossroads of whether or not I want to dive down the 'Earn Money Online Path.' My current profession affords me the ability to make $200,000 yearly, working 9-5 hours, 4 days per week. However, the allure of freedom from showing up to the office every day is enticing. I've worked very hard to achieve the career I have. Is it worth it in terms of time investment, lifestyle, and finances to go down this path? I'm not sure how much the people on this forum are earning, but what is the time estimate for me to realistically generate the type of revenue I currently do? You all have much more experience in this world than I do

Thanks guys
#worth
  • Profile picture of the author ThatOneGuy
    No one can make up your mind for you, especially since there's not guarantee regarding how much you'll make. That sounds like an awesome job you have, actually, and only 4 days/week? Excellent.

    I can't tell you how much you'll realistically generate, because there's a lot of variables involved in that (what niche, high-ticket products or low-ticket, etc.), but here's one thing I'll say: the amount of money you earn is directly proportional to the amount of value you offer others.

    It can be a rocky road, especially once Shiny Object Syndrome kicks in and you jump from product to product and system to system in search of a magic bullet. There's a real learning curve, that's for sure.
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    • Profile picture of the author BigFrank
      Banned
      The grass is always greener, my friend. That - and people are never happy with what they have. I suggest you focus on the positive of what you have, already and listen to your inner voice of reason.

      But, hey - it's your life.

      Cheers. - Frank
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  • Profile picture of the author Steve B
    Doc,

    Very few people who frequent this Forum can match your yearly income - very, very few.

    The dream of living the "Internet lifestyle" of freedom and plenty of income and time to do whatever you please is just that . . . a dream . . . for 99.9% of Internet marketers.

    I would suggest you continue on with your career while maybe giving the equivalent of 1 day per week to Internet Marketing so you can learn about and get your feet wet in this industry without turning your back on what you have worked hard to create.

    For most of us that derive income from Internet Marketing, the "job" of being an online business owner is often not glamorous, easy, or "stress free" as it takes dedication and daily execution of sometimes unpleasant tasks to create and grow a successful business. In a sense, it is every bit as hard . . . and takes the same discipline . . . as showing up for work as a dentist.

    At least in the beginning, you would be trading one "job" for another.

    I would say . . . be sure this is what you really want (by experiencing it) before you turn your back on a good thing.

    The very best to you,

    Steve
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    • Profile picture of the author BigFrank
      Banned
      Steve put it much better than I did, but he has much more patience and is a helluva lot nicer guy than I am. Me - I just wanted to smack some sense into you. lol

      Cheers. - Frank
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  • Profile picture of the author jamescanz
    Originally Posted by DrDeAngeloDDS View Post

    My current profession affords me the ability to make $200,000 yearly, working 9-5 hours, 4 days per week.
    These are the types of decisions you need to make as an entrepreneur.

    Is it worth it?

    Absolutely...

    However the risks you take and choices you make are gonna have to be made by you.
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    • Profile picture of the author BigFrank
      Banned
      Originally Posted by jamescanz View Post

      Is it worth it? Absolutely...
      Isn't a more helpful and honest answer something along the lines of, "I believe it is for me, but there is no way of knowing whether or not it would be for you. You may enjoy it or it could possibly be the absolute worst decision that you have ever made in your entire life. No one can know, until you reach the end of the journey." The real question is, "Is it worth the risk of losing what you have spent years building for what could result in abject failure?'

      That is the real question. Optimism is nice, but it doesn't pay the bills. No one asked if he has a family depending on him for food and shelter.

      Cheers. - Frank
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  • Profile picture of the author trobo
    Well, I would certainly keep the $200k/year job, at least for now anyway. That is a darn good income by most people's standards. Not a lot of people can say they make that much.

    If you would like to get into IM, I would say do it on the side and gradually grow your brand & reputation.
    Focus on things like cultivating a list of buyers, and always maintain a relationship with your customers.
    Strive to deliver excellent value to your customers. Don't get sucked into "shiny object"
    syndrome and try to follow the strategies and techniques of those that are already successful.

    But yeah, if it were me, I would keep the job and start small at first with IM. Who knows, you may someday make more than your day job and decide to go into it full time. I can tell you though, the vast majority of internet marketers make nowhere near $200k/year.
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  • Profile picture of the author DrDeAngeloDDS
    Thanks for the honest input guys, I'm not ready to leave my day job, and i'll likely dabble in the world of IM and content creation as a 'dedicated hobby' and see where it takes me.
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    • Profile picture of the author BigFrank
      Banned
      Originally Posted by DrDeAngeloDDS View Post

      Thanks for the honest input guys, I'm not ready to leave my day job, and i'll likely dabble in the world of IM and content creation as a 'dedicated hobby' and see where it takes me.
      Excellent decision. My work here is done. :-)

      Cheers. - Frank
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  • Profile picture of the author HN
    Banned
    You don't really have to chose between IM and your current job. Unlike 99% of people here you are in the position where you don't have to work hard, you can have you money work hard for you. In other words you don't have to learn know to build an online business from scratch, you can buy one, assuming you have put some cash aside. You can invest it into buying a website or business that already makes money.
    People are willing to sell their sites for 12x - 20x monthly income.

    Search for Empire Flippers and listen to their podcasts. (I am in no way associated with them.) Do your due diligence to make sure you are confident to buy form them and there you go...

    P.S. It wouldn't hurt though, if you learned and understood how and why the particular site makes money before investing, in case you are going to buy a website (business).
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  • Profile picture of the author Jack Gordon
    Some smart people here have chimed in and steered you well. But I am surprised that nobody has suggested what to me would be the most obvious course of action.

    You clearly have a very marketable skill, or you wouldn't be compensated so well for it.

    Take that (whatever that is) and use it as the foundation of an online offering. If you are prohibited from doing that by the terms of your current employment then you may have to be more creative, but there is always a way that should be profitable and ethical.

    If you want to share some information about what it is you do (I see you are a dentist, apparently... do you specialize?), I am sure we can guide you with some more specific advice.

    Good luck - you are in a better position to start something than most of the other people who share your desire.
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    • Profile picture of the author DrDeAngeloDDS
      Originally Posted by Jack Gordon View Post

      Some smart people here have chimed in and steered you well. But I am surprised that nobody has suggested what to me would be the most obvious course of action.

      You clearly have a very marketable skill, or you wouldn't be compensated so well for it.

      Take that (whatever that is) and use it as the foundation of an online offering. If you are prohibited from doing that by the terms of your current employment then you may have to be more creative, but there is always a way that should be profitable and ethical.

      If you want to share some information about what it is you do (I see you are a dentist, apparently... do you specialize?), I am sure we can guide you with some more specific advice.

      Good luck - you are in a better position to start something than most of the other people who share your desire.
      Okay, I will share a little more information about what I do. I'm a Family Dentist, not a specialist. I have experience public speaking and giving educational seminars about dental health as well as Self-Improvement Optimization. I taught a 10 lesson Self-Help seminar (did this for free at the time) to teach skills such as goal setting, perseverance, and initiative. I also offered 1-on-1 Success Coaching and drew fees of $150 per hour, I was making an additional $2,000 per month with 4 clients doing that on the side. I am also an avid reader, reading 1 to 2 self-help or biography books per week. I'm also the author of a best-selling niche book "Undeniable: The Guide to Getting into Medical and Dental School." It's #1 in the niche, but its a small niche, netting me about $300 per month. I'm trying to find a way to link all of these skills and passions together and reach a wider audience using online and I am NOT quite sure how...
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      • Profile picture of the author BigFrank
        Banned
        Originally Posted by DrDeAngeloDDS View Post

        Okay, I will share a little more information about what I do. I'm a Family Dentist, not a specialist. I have experience public speaking and giving educational seminars about dental health as well as Self-Improvement Optimization. I taught a 10 lesson Self-Help seminar (did this for free at the time) to teach skills such as goal setting, perseverance, and initiative. I also offered 1-on-1 Success Coaching and drew fees of $150 per hour, I was making an additional $2,000 per month with 4 clients doing that on the side. I am also an avid reader, reading 1 to 2 self-help or biography books per week. I'm also the author of a best-selling niche book "Undeniable: The Guide to Getting into Medical and Dental School." It's #1 in the niche, but its a small niche, netting me about $300 per month. I'm trying to find a way to link all of these skills and passions together and reach a wider audience using online and I am NOT quite sure how...
        Oh, my. With some direction you could be making a million or more per year. Just be careful. The cockroaches will soon be coming out of the woodwork once they smell the money. The potential is endless. I see a half a dozen ways for substantial income without even digging down.

        I wish I wasn't retiring. lol The dentist that sold ACT to one of the largest pharmaceutical companies in the world has never worked a day since cashing his multi-million $$ buy-out.

        Cheers. - Frank
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        • Profile picture of the author Jack Gordon
          Originally Posted by DrDeAngeloDDS View Post

          Okay, I will share a little more information about what I do. I'm a Family Dentist, not a specialist. I have experience public speaking and giving educational seminars about dental health as well as Self-Improvement Optimization. I taught a 10 lesson Self-Help seminar (did this for free at the time) to teach skills such as goal setting, perseverance, and initiative. I also offered 1-on-1 Success Coaching and drew fees of $150 per hour, I was making an additional $2,000 per month with 4 clients doing that on the side. I am also an avid reader, reading 1 to 2 self-help or biography books per week. I'm also the author of a best-selling niche book "Undeniable: The Guide to Getting into Medical and Dental School." It's #1 in the niche, but its a small niche, netting me about $300 per month. I'm trying to find a way to link all of these skills and passions together and reach a wider audience using online and I am NOT quite sure how...
          Bingo. Lots of fertile ground for you.

          You are one of the few people who absolutely should be exploring internet marketing. You actually seem to have something of value to offer the world. Proceed carefully and methodically, and I see great things ahead for you.


          Originally Posted by BigFrank View Post

          Oh, my. With some direction you could be making a million or more per year. Just be careful. The cockroaches will soon be coming out of the woodwork once they smell the money. The potential is endless. I see a half a dozen ways for substantial income without even digging down.
          LOL. Frank is always good for a laugh, but he is good at sniffing out BS and calling a spade a spade.

          You've got a lot to work with. Spend some time doing a lot of reading here, and I think the good ideas will really start to crystallize for you.

          One more thing... avoid all of the rah rah posts. Most people are clueless and in no position to give advice. The ones who know what they are doing will be pretty obvious if you are looking for them.

          Good luck. I'll keep an eye out for you and offer any help I can.
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      • Profile picture of the author Steve B
        Originally Posted by DrDeAngeloDDS View Post

        Okay, I will share a little more information about what I do. I'm a Family Dentist, not a specialist. I have experience public speaking and giving educational seminars about dental health as well as Self-Improvement Optimization. I taught a 10 lesson Self-Help seminar (did this for free at the time) to teach skills such as goal setting, perseverance, and initiative. I also offered 1-on-1 Success Coaching and drew fees of $150 per hour, I was making an additional $2,000 per month with 4 clients doing that on the side. I am also an avid reader, reading 1 to 2 self-help or biography books per week. I'm also the author of a best-selling niche book "Undeniable: The Guide to Getting into Medical and Dental School." It's #1 in the niche, but its a small niche, netting me about $300 per month. I'm trying to find a way to link all of these skills and passions together and reach a wider audience using online and I am NOT quite sure how...

        Doc,

        It sounds as though you already have some ideas about potential businesses that you could create. In addition, you have stated you want to get away from the "grind" of daily dentistry.

        Let me suggest you do a little self introspection and come up with what you would consider your perfect way to spend 8 hours in a day. What is it that you really enjoy doing? If money were no consideration, what would you spend your time on?

        If you can marry your passion with your expertise with you past experience/training/education . . . you will be on your way to visualizing the perfect business model based on you and your abilities/talents.

        Then you need to take that vision and apply it to demand in the marketplace. What groups or audiences would benefit from what you can offer? Said another way . . . who will pay you to share what you love doing and what you are good at doing?

        Maybe something like a community or subscription web site specifically targeted at dentists and how they can improve themselves and their practices would take advantage of your experience, training, and passion for self-improvement, initiative, goal-setting, etc. I can see you charging $97/month for this kind of service and soon having 1,000 members if your content and instruction is good. Think outside the box and how you could make such a peer site interactive, unique and valuable.

        Of course there are all sorts of ways to monetize your authority and expertise in your training.

        Good luck,

        Steve
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      • Profile picture of the author GodOfCPA
        Originally Posted by DrDeAngeloDDS View Post

        I'm trying to find a way to link all of these skills and passions together and reach a wider audience using online and I am NOT quite sure how...
        What are you meaning when you say "how"?

        When you ask "how can I make money online?" it is the same as asking "how can I make money on TV?"

        There are many many many ways to do it and they all take specialized skills/ knowledge that can only be gained through hands-on research/experimenting. Then developing a customized business model from your experience, failing many times (often devastatingly) and then eventually (can be years to even decades of attempts) succeeding.

        You're better off focusing on the fundamentals of business if you really want to make "passive income" -- you can hire marketers, etc. to enact your strategy when the time comes. To get help with that, you need to speak to some kind of business adviser / take classes I imagine.

        Outside of pushing affiliate products through having advanced knowledge of traffic platforms and conversion techniques (very hard to learn and not at all "passive"), there is no "make money online" - online is simply a marketing channel for a business.
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    • Profile picture of the author XponentSYS
      Originally Posted by Jack Gordon View Post

      Some smart people here have chimed in and steered you well. But I am surprised that nobody has suggested what to me would be the most obvious course of action.

      You clearly have a very marketable skill, or you wouldn't be compensated so well for it.

      Take that (whatever that is) and use it as the foundation of an online offering. If you are prohibited from doing that by the terms of your current employment then you may have to be more creative, but there is always a way that should be profitable and ethical.

      If you want to share some information about what it is you do (I see you are a dentist, apparently... do you specialize?), I am sure we can guide you with some more specific advice.
      Given his handle, I'll assume he's a dentist. If he makes $200k a year and he built the practice, there's his "thing".

      Build a consulting agency that teaches other DDS's how to market and grow their practices. Do that by.....

      1. "Done 4 You" marketing packages and "DIY" courses
      2. Weekly group coaching calls to all members
      3. Seminars

      Then UPSELL to other more "individualized" (and expensive) services.

      The "patient value" for dentists is fairly high. That means that the "cost for acquisition" can be higher. That works to your advantage in being able to charge a higher fee for services.

      I'm not making this up. I had an agency of this type (in a different medical market) and was billing 1.2 million a month before retiring.

      Here's a link to a post where I detail this business model.....

      http://www.warriorforum.com/offline-...heres-how.html
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  • Originally Posted by DrDeAngeloDDS View Post

    Hey all,

    I'm currently at a crossroads of whether or not I want to dive down the 'Earn Money Online Path.' My current profession affords me the ability to make $200,000 yearly, working 9-5 hours, 4 days per week. However, the allure of freedom from showing up to the office every day is enticing. I've worked very hard to achieve the career I have. Is it worth it in terms of time investment, lifestyle, and finances to go down this path? I'm not sure how much the people on this forum are earning, but what is the time estimate for me to realistically generate the type of revenue I currently do? You all have much more experience in this world than I do

    Thanks guys
    With an income like that, you have a few options

    You could outsource an entire affiliate marketing business, selling affiliate products using free traffic from Google, etc

    You can get a full-time virtual assistant for $150 - $300 a month, this way you could build your online business passively.

    But your best bet would be investing in websites making about $1000+ a month

    You'd pay about $10,000 and up...

    Looks like you'd need around 16-20 of them, to supplement your income.

    Set a goal and work towards it...

    Might take you 5 years, but it's a sound process, and it's relatively passive.

    This is the same principle that has been setting people free from the workplace for years, just usually with real estate

    You could also write a book about how you got to where you are, there are tons of college kids dying to know!

    Build a list of people interested in that kind of info, invest into growing that list, and in 5 years, you'll have another valuable asset to contribute to your freedom

    The most I've made in a year from the internet was $36,000, last year I only made $25,400, but I worked about 5 hours max per week, because I have a small team of Virtual Assistants in the Philippines, so it was fairly passive.

    I acquire more passive income generating assets each month, and my VA's are always creating more content so my income is always growing. Plus my list is growing each month.

    If I had more capitol to invest, my monthly cashflow would expand by leaps and bounds each month

    Basically unlike most of the people on this forum you already have money...

    Put it to work, or else you'd just be leaving your offline job for an online job
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  • Profile picture of the author Jonathan Vodini
    first off none ever said that to dive into IM you have to leave your actual career, you can start doing IM from the comfort of your own home, then when you will get more skilled to it you can even scale it up and see how it goes...but you do not have to leave your job. just do both of them and after got some experience decide for your self without care on what people has to say about your choice, remember that people always judge anything based on their own point of views and experiences...which means nothing to do with you!

    best regards
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  • Hello Doc

    I could tell you what I would do if I were in your place: I would keep my job for $ 200K a year, I would try to learn IM, but also when I would be able to work well, my work does not leave him.

    anything, following the passion of M would think to earn something more.
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  • Profile picture of the author Path Theory
    There's a lot of opportunity for someone like you - Intelligent, driven, and you have the cash to make smart investments. There's no reason you should start at the bottom.

    I would partner up with a top level marketer, and see what you can come up with. I can tell you, that you're not going to find them on this forum. I wouldn't trust any relationship based solely on the internet. Go to some of the major conferences and start networking.
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  • Profile picture of the author sogeshirts
    Keep your day job, and invest some of that salary into building a list online. You probably won't make 200k per year online, but you might be adding a nice income source. With the amount of money you are making, you can afford to work with major marketers, and build a huge list fast.
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  • Profile picture of the author TryBPO
    Hey Doc,

    What's surprised me most about this thread are the very clear, helpful replies. I think you really lucked out with the people and advice already given in this thread.

    I'm responding as I read someone mentioned our company (Empire Flippers) and thought I could add some value as well.

    As others have stated, most working in the online space don't make anything close to $200K per year. My guess is that would be a fraction of the top 1% of those working online.

    However, I'm guessing you've been earning $200K per year for more than a few years. The issue there is (I'm guessing, here) your expenses/costs are high as well. Unless you've worked very hard to minimize your personal expenses/splurges, they've probably crept up with your income.

    I'm also sure that it took you years of training + experience to get to where you are today. You're currently cashing in on the fruits of your labor from years ago. You're in one of those comfortable spots that comes with hard work and dedication to a particular craft, year in and year out.

    Starting over and looking to build a career online - you're back at the bottom, scraping your way until you get to reap those benefits. There's a "1,000 day rule" with online businesses - you're typically looking at a 3 year plan to "making it" with your online business.

    Are you willing to put in the dedication again, knowing it will take years to find some success? Could you handle significant cuts in your expenses to baseline and increase your runway for a new startup venture? How many months/years would you have, starting from scratch, with your current burn rate?

    As others have mentioned, leveraging your current professional experience in building your online business would seem to make sense. You can definitely shave some days off the 1,000 day rule by doing that.

    What value could you provide other dentists that are cash rich and (possibly) time poor? Others in the same position as you right now?

    It's been a while, but I remember talking to someone else that made a business out of helping dentists build online portfolios of profitable websites. I thought it odd that he targeted dentists specifically, but it was a niche he'd found that worked.
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  • Profile picture of the author charlieprices
    Originally Posted by DrDeAngeloDDS View Post

    Hey all,

    I'm currently at a crossroads of whether or not I want to dive down the 'Earn Money Online Path.' My current profession affords me the ability to make $200,000 yearly, working 9-5 hours, 4 days per week. However, the allure of freedom from showing up to the office every day is enticing. I've worked very hard to achieve the career I have. Is it worth it in terms of time investment, lifestyle, and finances to go down this path? I'm not sure how much the people on this forum are earning, but what is the time estimate for me to realistically generate the type of revenue I currently do? You all have much more experience in this world than I do

    Thanks guys

    Earning $200,000 a year you have the potential to get mentored by an Internet Marketer who earns more than $200,000 a year, don't overspend, but maybe start and pay for a bit of help along the way (I mean face to face not some online course!)
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  • Profile picture of the author Edson Buchanan
    The good news is you have a great job that will be able to cut the learning curve to Internet Marketing. Don't waste your time trying to learn it on your own. Invest in an online mentor and you will be doing very well for yourself in six months time.
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  • Profile picture of the author martinmarketing
    actually your income is high enough ... anchio not advise you to completely abandon your work ... you can initially make the two businesses together .. with the time you decide ... but leaves his back covered
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  • Profile picture of the author teamversion
    Do both first and see if you really like to make money online.
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  • Profile picture of the author visimedia
    Hi there,
    I think to goes into your priority and what value u put first to your life, is it freedom or security.

    If your offline job needs you to work 9-5 then I think you should learn to have a team to run your online business, or maybe buy a blueprint that's proven that can automate your online income.

    From that $200k annually u can have like 10% and build gigantic online biz empire , only if you put the right sauce of secret in online business.

    Dropping one of them doesn't seem a good deal , and I will never do that.
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