Came across $5k - how can I turn it into $500k

13 replies
I know there are a ton of these questions floating around WF, but I'd like to get another conversation going, because why not.

I recently sold a small side hustle website project and instead of buying something stupid, like a motorcycle or going on a trip. I want to turn this $5k into a great residual income. The website I sold was just a small side project to dip my toes into ecommerce and dropshipping. It made some money but I lost interest quickly as it was very niche focused and not very scalable.

My background lies mostly in web design and development and have been working as a freelancer for 8 years full time. Basic knowledge of SEO, hate offline because I am not a people person.

I would love to hear the communities thoughts on this, and I thank you all in advance!
#$500k #$5k #turn
  • With your skills I suppose it's best invested in promoting what you do, eg market your services.
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  • Profile picture of the author madstan
    Maybe you can try your hand at the stock markets?

    Less responsible answer would be the race tracks.
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    • Profile picture of the author liquidtrends
      Originally Posted by madstan View Post

      Maybe you can try your hand at the stock markets?

      Less responsible answer would be the race tracks.
      Less responsible, but more fun.
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      Professional web developer and graphic designer for hire.

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  • Profile picture of the author cherac
    Its more about how long you can keep that amount intact , than increase it , beware the online market field is ruthless .... I recommend dropshipping though and you would need only 10% of that amount to start , and if you are lucky you would be able to triple your initial starting amount in a month
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  • Profile picture of the author yukon
    Banned
    This has nothing to do with pancakes or SEO.
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    Hi
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    • Profile picture of the author liquidtrends
      [DELETED]
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      • Profile picture of the author RefuseToLose
        Originally Posted by liquidtrends View Post

        Yeah, I don't know how it ended up in SEO. Pancakes are delicious.
        Curious to see how things turn out for you going down the SEO route. Any results yet?
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  • Profile picture of the author michaelkoehler92
    Create more similar sites like that and spend time in upselling them from the previous pricing.
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  • Profile picture of the author james flynn
    You can buy stocks for new startups or build up an e-commerce business.

    James
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  • Profile picture of the author DIABL0
    For the past 16+ years, I have been monetizing purchased data (email) using PPL (pay per lead) offers.

    With PPL offers, there is no credit card / purchase required to complete an offer. All a user has to do is fill out a form to generate a commission, so conversion rates are typically much higher than offers that require a purchase.

    I have for the most part done best with offers that have a make, get or save money angle / benefit. This is because they tend to have the greatest mass appeal, will be of interest to the largest possible audience. This way the potential exists to produce high volume and cross promote offers.

    Basically I acquire data(email) that the users have given permission to receive 3rd party messages. Then based on what the users are interested in (for each data source), I then send them a PPL offer that matches their interest.

    That's the real short of the long, obviously there is more to it. Done right it can be very profitable. Everyone that I know that is in the business, that knows what they are doing, does 6-7 figures. While that is a huge range, much comes down to ones ability to scale and effectively manage the infrastructure that comes with scaling.

    Anyway, something to think about.
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    How to Build LARGE EMAIL LISTS on a Budget and MONETIZE Like a PRO
    20+ Years Exp . . . . . . . . . . . . Email - CPA - PPL
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  • Profile picture of the author Action Man
    Before you go further, pause, and read "Think and Grow Rich" By Napoleon Hill, seriously, and find in there "The Secret" that made many wealthy, worked for me!

    Jim
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    "Love conquers all things except poverty and toothache" (Mae West)

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  • Profile picture of the author George Schwab
    "NO pancakes or SEO" - in that case invest it with a high ROI.

    i would split it into 3 high yield investments, you double your money every 40 days.
    My blog link about that here got deleted, but you always could ask me in person.
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  • Profile picture of the author shaunybb
    Hey there well done on your site sale!


    I will say 2 things:


    1) find or pay for a mentor


    2) invest in the tools you need!


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    ====>READY To Be Successful Online? FIND OUT more!?<====
    You FAIL online because you have the WRONG information.....
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