Extra $1.5k Per Month - Next Steps?

24 replies
Hey,it's been a while Warriors. I've been building up my freelancer profile and it's a great backup plan. I'm the full time digital marketing director for a local service company while working from home with a flexible schedule and I'm thankful for it.

But it's time for the next level. Starting next week, I'll have an extra $1500 per month to utilize for an online business. Any thoughts on which business model to go with?

I'd prefer to keep it online. Not selling services to local business. So list building and affiliate marketing, or my own products. Something more passive than active based. I want to scale up to 10-30k per month as quickly as possible. I will treat it as a real business and do it right.

Any suggestions?

Thanks,
Ryan
#$15k #extra #extra $1.5k per month #month #next level #next steps #steps
  • Profile picture of the author MValmont
    Originally Posted by ryan.arnfinson View Post

    Hey,it's been a while Warriors. I've been building up my freelancer profile and it's a great backup plan. I'm the full time digital marketing director for a local service company while working from home with a flexible schedule and I'm thankful for it.

    But it's time for the next level. Starting next week, I'll have an extra $1500 per month to utilize for an online business. Any thoughts on which business model to go with?

    I'd prefer to keep it online. Not selling services to local business. So list building and affiliate marketing, or my own products. Something more passive than active based. I want to scale up to 10-30k per month as quickly as possible. I will treat it as a real business and do it right.

    Any suggestions?

    Thanks,
    Ryan
    Kindle Publishing is the easiest way that I know. The fastest also.

    Other than that, I would say Amazon FBA. Creating your private label products is an amazing way to make money also. It is more complicated and require more money upfront though.

    Other than that, affiliate marketing is great, but it will take a long time before you make money. Getting traffic, converting that that traffic is way harder than people think. This is more of a long term business model in my opinion.

    These are my 3 favorite business models in order of complexity.

    Ps: I Lived in Calgary for about one year and a half. Corner 4th street and 17th avenue S.W Stampede was fun.
    {{ DiscussionBoard.errors[10788005].message }}
  • Profile picture of the author ryan.arnfinson
    Hey, I appreciate that. I hadn't seriously considered Kindle or FBA yet. Thanks for your input.

    -Ryan
    {{ DiscussionBoard.errors[10788010].message }}
    • Profile picture of the author samuelbreezey
      Originally Posted by ryan.arnfinson View Post

      Hey, I appreciate that. I hadn't seriously considered Kindle or FBA yet. Thanks for your input.

      -Ryan
      I don't have a great deal of experience with FBA however I don't feel Kindle is as great as it used to be.

      IMO your too reliant on Amazon, yes you could make 2K plus a month from KDP but then say if Amazon change their algorithms and you see your profit drop to around 1K then next to nothing....

      I've personally seen this happen to me.

      Kindle has it's pro's and con's - it's so easy to publish your book on their, it can literally take a day to write a book and have it accepted but then with that I feel the market place is way too saturated.

      I think KDP could be used in other ways such as creating a 99 cent book that is a shorter version of say a digital product you will be selling and within that book have links to a landing page of your main product. I have seen thousand of downloads on my books when they have been on KDP for FREE for 5 days so this is a great way to get great traffic to your page.

      Also have links to a mailing list.

      Hope this helps
      Sam
      {{ DiscussionBoard.errors[10788346].message }}
      • Profile picture of the author ryan.arnfinson
        Originally Posted by samuelbreezey View Post

        I don't have a great deal of experience with FBA however I don't feel Kindle is as great as it used to be.

        IMO your too reliant on Amazon, yes you could make 2K plus a month from KDP but then say if Amazon change their algorithms and you see your profit drop to around 1K then next to nothing....

        I've personally seen this happen to me.

        Kindle has it's pro's and con's - it's so easy to publish your book on their, it can literally take a day to write a book and have it accepted but then with that I feel the market place is way too saturated.

        I think KDP could be used in other ways such as creating a 99 cent book that is a shorter version of say a digital product you will be selling and within that book have links to a landing page of your main product. I have seen thousand of downloads on my books when they have been on KDP for FREE for 5 days so this is a great way to get great traffic to your page.

        Also have links to a mailing list.

        Hope this helps
        Sam
        Thanks for the heads up! I appreciate it.

        -Ryan
        {{ DiscussionBoard.errors[10788361].message }}
  • Profile picture of the author IM Nathan
    Creating your own products can be very challenging and very rewarding at the same time. My focus is generally on building a 'business', so I always aim long term. It's just a matter of putting a plan in place and the means to action it.
    {{ DiscussionBoard.errors[10788038].message }}
    • Profile picture of the author ryan.arnfinson
      Originally Posted by IM Nathan View Post

      Creating your own products can be very challenging and very rewarding at the same time. My focus is generally on building a 'business', so I always aim long term. It's just a matter of putting a plan in place and the means to action it.
      Long term is the plan. And I'm all about action but now I'll have the funds to leverage outsourcing and traffic so just wanting to be as passionate about the business model as possible and looking at all of my options.

      Thanks,
      Ryan
      {{ DiscussionBoard.errors[10788194].message }}
  • Profile picture of the author visimedia
    I think building a good blog aroudn your freelancing niche will be a good thing to do , you're able to talk things about it for free, monetize it wiht list building n sending solo ads.. good idea?
    {{ DiscussionBoard.errors[10788060].message }}
    • Profile picture of the author ryan.arnfinson
      Originally Posted by visimedia View Post

      I think building a good blog aroudn your freelancing niche will be a good thing to do , you're able to talk things about it for free, monetize it wiht list building n sending solo ads.. good idea?
      Hi, visimedia.

      It's a good idea. I've thought about this too and have lots of value to offer. Perhaps a bit longer to scale than I'd like though I will keep it in mind.

      Thanks,
      Ryan
      {{ DiscussionBoard.errors[10788186].message }}
  • Profile picture of the author DWaters
    I also want to suggest the idea of setting up an FBA business to sell inventory on Amazon. Depending on how you set it up it does not have to consume a lot of time and can be rather profitable.
    Signature
    How I really Make Money With Amazon

    Want to get rich with top rated FREE Super Affiliate Training?
    {{ DiscussionBoard.errors[10788143].message }}
    • Profile picture of the author ryan.arnfinson
      Originally Posted by DWaters View Post

      I also want to suggest the idea of setting up an FBA business to sell inventory on Amazon. Depending on how you set it up it does not have to consume a lot of time and can be rather profitable.
      Hey, DWaters.

      That's a second for FBA. I'll look into it shortly. Thanks a lot.
      {{ DiscussionBoard.errors[10788190].message }}
  • Profile picture of the author ChrisBa
    Originally Posted by ryan.arnfinson View Post

    Hey,it's been a while Warriors. I've been building up my freelancer profile and it's a great backup plan. I'm the full time digital marketing director for a local service company while working from home with a flexible schedule and I'm thankful for it.

    But it's time for the next level. Starting next week, I'll have an extra $1500 per month to utilize for an online business. Any thoughts on which business model to go with?

    I'd prefer to keep it online. Not selling services to local business. So list building and affiliate marketing, or my own products. Something more passive than active based. I want to scale up to 10-30k per month as quickly as possible. I will treat it as a real business and do it right.

    Any suggestions?

    Thanks,
    Ryan
    I'd recommend list building and affiliate marketing, but I am biased
    {{ DiscussionBoard.errors[10788244].message }}
  • Profile picture of the author webmarke
    If you are looking to make a passive income, then building a list and then creating followup emails to send to your list is the way to go.

    In theory (and in actual facts) you could create a year of follow up emails that provide good value as well as promote products and create a complete marketing machine that works for you 24/7 on complete auto-pilot for a entire year.

    Your only job would then be to send traffic to your squeeze page.
    {{ DiscussionBoard.errors[10788327].message }}
  • Profile picture of the author Junaid khawaja
    Hi Ryan . You have a decent amount of capital to start business at Amazon. I suggest you should try out your private label brand or start selling well established brands if you can get them at a whole sale price in bulk.My colleague started a clothing and antique business through Amazon by using his own private label and he is pretty successful now

    Apart from that have you heard about Etsy? It's a similar e-commerce website through which you can sell handmade as well as unique factory manufactured clothing product.You just need to find your supplier and send them the kind of theme you want.

    I hope it helps.Cheers . J
    Signature

    I am conducting 5 FREE copy consultations till New Year...Jump onto my bandwagon while you still can..

    {{ DiscussionBoard.errors[10788674].message }}
    • Profile picture of the author ryan.arnfinson
      Originally Posted by Junaid khawaja View Post

      Hi Ryan . You have a decent amount of capital to start business at Amazon. I suggest you should try out your private label brand or start selling well established brands if you can get them at a whole sale price in bulk.My colleague started a clothing and antique business through Amazon by using his own private label and he is pretty successful now

      Apart from that have you heard about Etsy? It's a similar e-commerce website through which you can sell handmade as well as unique factory manufactured clothing product.You just need to find your supplier and send them the kind of theme you want.

      I hope it helps.Cheers . J
      Hi, Junaid.

      I appreciate it. I have heard of Etsy. It's a bit more active than I am looking for. And private label is an intriguing option.

      Thank you,
      Ryan
      {{ DiscussionBoard.errors[10789649].message }}
  • Profile picture of the author coxmg
    Amazon FBA didnt work for me, listen to this my second product, i sold 5 out of 300 i had in stock and the other 295 are still sitting there.
    {{ DiscussionBoard.errors[10788813].message }}
    • Profile picture of the author ryan.arnfinson
      Originally Posted by coxmg View Post

      Amazon FBA didnt work for me, listen to this my second product, i sold 5 out of 300 i had in stock and the other 295 are still sitting there.
      Hey, coxmg.

      Yeah, it's never a sure thing. I've experienced this in the past with a music training audio program I'd invented called Music Tone Yoga. It's incredibly valuable to musicians as it uses meditative binaural beats/isochronic tones combined with interval, harmony, scale training together. But because there was no precedent for this product it required more education than I thought in order to presell it. I will rework the sales funnel at some point and get some authorities to help influence the brand but it was a tough lesson. As these other gents have mentioned demand research is a key. Along with the targeting and your sales funnel too. Thanks for sharing.

      -Ryan
      {{ DiscussionBoard.errors[10789665].message }}
  • Profile picture of the author tyronne78
    There will always be money in affiliate marketing and listbuilding.
    {{ DiscussionBoard.errors[10789455].message }}
  • Profile picture of the author Steve B
    Before you settle in on your business model, it would be wise to identify an audience and a marketplace that you want to deal in. Why?

    Everything begins with demand. You find a need/want/desire and verify there is money being spent in that market.

    Once you know where the demand lies . . . then is the time to identify the business model that you'll employ to supply products/services to meet that demand.

    Very few marketers begin with demand and it's a big reason why so many fail. They pick a product or a business model first and have no idea whether it's something that will be embraced by the marketplace.

    Do your market research first if you want to be profitable.

    Steve
    Signature

    Steve Browne, online business strategies, tips, guidance, and resources
    SteveBrowneDirect

    {{ DiscussionBoard.errors[10789464].message }}
    • Profile picture of the author DWaters
      Originally Posted by Steve B View Post

      Before you settle in on your business model, it would be wise to identify an audience and a marketplace that you want to deal in. Why?

      Everything begins with demand. You find a need/want/desire and verify there is money being spent in that market.

      Once you know where the demand lies . . . then is the time to identify the business model that you'll employ to supply products/services to meet that demand.
      Very few marketers begin with demand and it's a big reason why so many fail. They pick a product or a business model first and have no idea whether it's something that will be embraced by the marketplace.
      Do your market research first if you want to be profitable.

      Steve
      This is excellent business advice! He makes complete sense and this is something that all internet marketers need to take a look at. Supply and Demand is such a basic Business 101 concept but some marketers forget to do their research first. Whether you are selling digital products or physical products you do indeed need to do your market research first.
      Signature
      How I really Make Money With Amazon

      Want to get rich with top rated FREE Super Affiliate Training?
      {{ DiscussionBoard.errors[10789605].message }}
    • Profile picture of the author ryan.arnfinson
      Originally Posted by Steve B View Post

      Before you settle in on your business model, it would be wise to identify an audience and a marketplace that you want to deal in. Why?

      Everything begins with demand. You find a need/want/desire and verify there is money being spent in that market.

      Once you know where the demand lies . . . then is the time to identify the business model that you'll employ to supply products/services to meet that demand.

      Very few marketers begin with demand and it's a big reason why so many fail. They pick a product or a business model first and have no idea whether it's something that will be embraced by the marketplace.

      Do your market research first if you want to be profitable.

      Steve
      Top notch advice, Steve. Thanks for reinforcing this. I picked up the Affiliate Titan for $7 which should help speed up this process if I go the affiliate route. I'll use another software to scour Facebook to learn who's advertising and what's selling first.

      Any other demand research tips?

      - Ryan
      {{ DiscussionBoard.errors[10789670].message }}
  • Profile picture of the author ryan.arnfinson
    I like the idea of using Facebook traffic with either promoted posts, bridge pages, or video ads for affiliate offers. I picked up the AdBridger software for this because it should allow policy pages and contact info on the bridge page but by many accounts, it's not reliable.

    I'll find out next week perhaps but can anyone point to Facebook affiliate bridge page software or training that won't get my account banned immediately? I understand you can recover your account or start another one but I don't know much about this. And I don't want to let this perhaps prevent me from doing my demand research and going for it.

    Thanks for all your help!

    -Ryan
    {{ DiscussionBoard.errors[10789678].message }}
  • Profile picture of the author Nico Puegher
    You probably enjoy being a freelancer, why you don't start a blog about it and share all your experience helping other do the same? Then you can start building email lists and promoting not only your own products but also someone's else product that you think is good for your audience.

    Social media is important too, find one you like and start with that!

    Don't expect to make a lot of money from nothing or with no work, there is no easy money or a button for making money as internet marketer even if you have money to invest, take your time and do what you love to do, think about helping and providing value over making money, that's the best way to make money.
    {{ DiscussionBoard.errors[10789686].message }}
    • Profile picture of the author ryan.arnfinson
      Originally Posted by Nico Puegher View Post

      You probably enjoy being a freelancer, why you don't start a blog about it and share all your experience helping other do the same? Then you can start building email lists and promoting not only your own products but also someone's else product that you think is good for your audience.

      Social media is important too, find one you like and start with that!

      Don't expect to make a lot of money from nothing or with no work, there is no easy money or a button for making money as internet marketer even if you have money to invest, take your time and do what you love to do, think about helping and providing value over making money, that's the best way to make money.
      Hi, Nico.

      I do enjoy freelancing but it's not easy to scale up on its own. A blog would help leverage my experience but I have made money in the past with just about every other IM business model already as well with the exception of FBA, Kindle, and perhaps a couple others, so I'm deciding which to move forward with again long-term. I can think of a few freelance based training products that would help people so I'm considering it. And I'm a workhorse with a lot of experience. Thanks!

      -Ryan
      {{ DiscussionBoard.errors[10789704].message }}
  • Profile picture of the author GaryCarlyle
    Seems you are already in the best niche right now - Offline lead generation.

    Why not just focus on that?

    Help other companies get leads?

    It is big money. I get £100 per phone call.
    Signature

    UK TV abroad for free: http://WatchBritishTV.com

    {{ DiscussionBoard.errors[10801202].message }}

Trending Topics