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If you have no money, is this the place to be?

by Steve B
29 replies
Over the years that I've been a member here at the Warrior Forum, I have witnessed the same sad story over and over again. Someone is down on his luck, out of money (or nearly so), and searching for a way to make ends meet.

Somewhere he got the idea that lots of people with no business experience are making a killing online with blogging, selling T-shirts, promoting other peoples' offers, or writing books for Kindle. It's easy, fun, very cheap to start, and anyone can do it in their spare time!

Now understand that I am one that truly believes anyone can potentially be a successful online business owner . . . but at the same time . . . I also believe that very, very few will ever rise to that position.

You'll get no argument from me that there are some "exceptions" - people that have created and built businesses from literally nothing. But exceptions are just that, exceptions, and very rare - so rare that anyone planning to be the exception, IMO, should seriously consider every other alternative for making money first before they try online business.

I know what it's like to try to break into this business on a shoestring. I wasted a lot of years trying to "poor boy" everything I did online - free tools, free or cheap ad-infested sponsored hosting, cruddy auto-responder script, holding tight to free advice from public forums - well, you all know the picture.

If I had to start over again I would do things differently. I would work and scrimp and save money until I had a small nest-egg so I could at least start a business from my own investment. I would have saved myself years of frustration and wasted effort always trying to make good with less than adequate tools and advice.

If you have no money and no business experience, please consider putting your online business dreams on hold for a short time while you collect some monetary resources so you can at least start your online journey without the disadvantage of being penniless. In some ways, it's like trying to run a race with your feet hobbled together - you expend huge effort but don't go very far.

Mark Cuban, the self-made billionaire, owner of the Dallas Mavericks (NBA) and a regular on the ABC reality business show Shark Tank, was asked what he would do if he lost everything and had no money.

Cuban says he could do it all again (become wealthy). "It's not about money or connections, it's the willingness to outwork and outlearn everyone."

His first step would be to go out and get two jobs. "I would get a job as a bartender at night and a sales job during the day, and I would start working."

According to Cuban, you may not be smarter than everyone else or as talented or have the same connections. But you can always work harder than everyone else. Hard work can always be your difference.

He says everyone talks about working hard and going the extra mile; but in reality, no one actually does.

The extra mile is a vast, unpopulated wasteland and a lonely place. That's why the extra mile is a place filled with lots of opportunities.

The stress of having to make money from your new business in order to live and pay the bills will be a huge and needless millstone around your neck. Don't put yourself in that position. Get a job. Work harder than anyone else. Save your money so you can invest in yourself and your business. The dream of owning an online business will still be there with plenty of opportunity whenever you are able to return under better circumstances.

Obviously this is just my opinion based on my own experience - there will be contrasting views and that's fine - feel free to respond.

Steve
#money #place
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  • Profile picture of the author discrat
    Thanks Steve. Although I have always thought working smarter than everyone else ( not necessarily harder) was a stronger component in the success equation.
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    • Profile picture of the author Tsnyder
      Originally Posted by discrat View Post

      Thanks Steve. Although I have always thought working smarter than everyone else ( not necessarily harder) was a stronger component in the success equation.
      Yes... but the real truth is the smart people are working their asses off
      until they hit a certain level. They love what they do so it doesn't feel like
      work to them but very few could maintain their pace.
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  • Profile picture of the author jazbo
    You might get lucky though with zero investment.

    What if that kindle book you write for nothing sells a few hundred copies because it's shared on facebook by someone?

    Or you build up a twitter following for free and reach out to an influencer and they share a link on your free blog.

    It's possible to get started with zero.
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    • Profile picture of the author DWolfe
      Originally Posted by jazbo View Post

      You might get lucky though with zero investment.

      What if that kindle book you write for nothing sells a few hundred copies because it's shared on facebook by someone?

      It's possible to get started with zero.
      You miss the point Steve said in his post their will always be exceptions. That is what your post is saying. That is rare however. You need to have something that is really good on Kindle to make it happen. He is suggesting to have some money and stable income. How many come to this forum everyday want to find the cheapest XYZ product.
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    • Profile picture of the author Steve B
      Originally Posted by jazbo View Post

      You might get lucky though with zero investment.

      Jazbo,

      Yes, it is certainly not out of the realm of possibility . . . but is that a smart strategy on which to hang your business future - "you might get lucky?"

      No, I'm saying that someone with zero investment would be smart to make some money outside IM first, then come back to this dream armed with at least enough money to start with good tools and without the pressure of having IM be their only source of income.

      Thanks for contributing.

      Steve
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    • Profile picture of the author wolfmmiii
      i might hit the lottery today, too.

      probably wont happen - but possible
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  • Profile picture of the author Brent Stangel
    The extra mile is a vast, unpopulated wasteland and a lonely place.
    Damn straight!

    Brent
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  • Profile picture of the author SiteNameSales
    In many ways it is the Internet marketing hyperbole that encourages this belief. How many ads have you run into that proclaim 'All Done For You' or 'How I Make $5,000 An Hour While Lying On My Hammock"? This all goes back to the good old days when the internet was the new frontier and marketing embellishment was a way of life. It has given the IM niche a bad reputation among the general public and generalizations about the sector continue to linger.

    No one would think of creating a brick and mortar business without investing and that holds true for most legitimate internet businesses that advertise on Facebook and elsewhere. It is only with many of the marketing course offerings and the attendant affiliate opportunities that many with eyes bigger than their stomachs begin to appear with the belief that, because they were handy with computers in high school, they can make a killing in internet marketing without any dough.

    I have empathy for both the marketer and the potential customer. We are in an extremely competitive market and any legitimate hook is worth exploring. When some guru says they are making $100,000 a month it can certainly be true. And very rarely a new affiliate can eventually attain that goal, but usually after much time, money and effort.

    I appreciate that newbie's dilemma as well. After all, who would not be tempted by the idea of a 4 hour work week and a luxurious lifestyle? Most fail at this, of course, and if you are not prepared to make some investment in the beginning, your chances of failing are even greater.

    Still, failure can often be the best teacher. But you have to stop blaming the marketers and learn from your own gullibility, lack of effort and greed. If you are truly interested in succeeding in this business, you need take your lumps and keep trying.
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  • Profile picture of the author rbates
    Steve - extremely well stated information,
    and I could not agree more.

    I also did the trying to get by on that shoestring.
    The shoestring wears very thin in short order, and
    then you're left with two pieces of worthless string.

    I'm not sure what that means, but if you can't do anything
    with a whole piece of string, what can do with two halves?
    I had to learn that 90+% of what I was hearing and reading
    was not going to get me anywhere.

    There are so many posts here by individuals who have
    gotten the impression that being in business online is

    1. Easy 2. Takes little work 3. Can be done on that "Shoestring".

    To name a few of the basic misconceptions.

    While there is always that person who can create something
    out of nothing (because he/she goes that extra mile - or two),
    the majority of people get frustrated if they are taking in
    the thousands each day that so many marketers are telling
    them they can achieve - quickly.

    You asked in your subject "Is this the place to be?"
    I think that you can get a lot of solid information in this
    forum, among other resources, but understanding what
    will be of benefit to what your business needs are certainly
    takes a lot of sifting through the garbage.

    It's not just the online garbage, it's also the personal garbage,
    the fears, work ethic, and mental toughness (sorry to
    infringe on you "Mind Warriors") that must be evaluated.
    A business is a business, and for many, working online may be one
    of the more difficult places to create income.
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  • Profile picture of the author Frank Donovan
    Originally Posted by Steve B View Post

    Obviously this is just my opinion based on my own experience - there will be contrasting views and that's fine - feel free to respond.
    I have a slightly contrasting view, in that I don't think hard work in itself is the ultimate key to success. My late father worked hard, regularly putting in 60+ hour weeks over a forty-year career, yet by my mid-twenties I was already earning more than him, while working a fraction as hard.

    In fields such as professional sport, where margins are fine, I have no doubt that those willing to go the extra mile can gain a competitive edge - assuming a roughly equal distribution of talent. But in the world of business, success depends on abstract factors such as creativity, inspiration, talent, acumen, insight, motivation - and luck. If you have some or all of those, all you need to apply is the necessary work to stand a better than average chance of making it.

    And while I find some biographies of successful business people interesting, I don't for a minute accept all their explanations for success. There's usually far too much post rationalization in those accounts with an over-emphasis on how hard they worked and how much their rise to the top was a result of pre-planned actions, and too little of how much of their success depended on fortune, positioning and timing.

    That said, you're spot on when you say starting out with nothing stacks the odds heavily against you - especially if financial commitments make your situation desperate. Few people are at their most creative or clear-headed under those circumstances.
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  • Profile picture of the author Mark Singletary
    Good post - what we've come to expect from you.

    You say work a job until there is enough money to be able to start with the tools and resources needed.

    I think there is an alternative approach that may work if done properly. That is, work a job while you start learning, practicing, and even starting the online business in your free time.

    In other words, maybe someone doesn't have all they need to get started the "right" way up front, but they pay for what they need as they learn and continue their job.

    For example, John doesn't have $5,000 (or whatever is appropriate) but he has enough to pay monthly hosting, monthy autoresponder fees, and can get a nice logo. He gets started with those things while continuing his job and then his next paycheck he gets a squeeze page plugin or a premium theme or a membership plugin or whatever and continues down this path in a prioritized, orderly manner.

    I'm of the opinion that real learning happens by doing. For example, book learning to build a website and set up a funnel is easy peasy. Doing it the first time is full of uncertainties and questions. The earlier someone can get started, the earlier they may have a chance to succeed.

    This way John doesn't delay learning and starting but he has the money he needs to get what he needs. He has to be careful, as I mentioned, to prioritize and to not fall for shiny object syndrome. Otherwise, he spends all his money and still has nothing to show for it.

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

      Good post - what we've come to expect from you.

      You say work a job until there is enough money to be able to start with the tools and resources needed.

      I think there is an alternative approach that may work if done properly. That is, work a job while you start learning, practicing, and even starting the online business in your free time.

      In other words, maybe someone doesn't have all they need to get started the "right" way up front, but they pay for what they need as they learn and continue their job.

      For example, John doesn't have $5,000 (or whatever is appropriate) but he has enough to pay monthly hosting, monthy autoresponder fees, and can get a nice logo. He gets started with those things while continuing his job and then his next paycheck he gets a squeeze page plugin or a premium theme or a membership plugin or whatever and continues down this path in a prioritized, orderly manner.

      I'm of the opinion that real learning happens by doing. For example, book learning to build a website and set up a funnel is easy peasy. Doing it the first time is full of uncertainties and questions. The earlier someone can get started, the earlier they may have a chance to succeed.

      This way John doesn't delay learning and starting but he has the money he needs to get what he needs. He has to be careful, as I mentioned, to prioritize and to not fall for shiny object syndrome. Otherwise, he spends all his money and still has nothing to show for it.

      Mark
      This is exactly how I got started. Not only did I not have money to start a business - I was 5 figures in debt. But I had a regular paycheck coming in so I didn't need to worry about my bills. But I DID put in a TON of time.

      This was back as far as 2002, but I learned pretty quick these two things:

      1) Learn one or two things that can make you some money. In my case I learned how to be a web host (stay far away from that these days...) and also how to install scripts onto websites. Back then, scripts were MUCH harder to install, so there was a need for this. And I made very good money doing it.

      2) The barter system works (or did back then) very well on line. I was able to trade my services for other peoples products. It also helped me to make a lot of very good contacts (some were very well known "Guru's" of the day).

      Which I guess you could add a third thing I learned - networking. I started going to events and meeting others.

      So yes, I strated with LESS than nothing. But I didn't see my first REAL success (meaning a 5 figure launch) until 2005, so it took some time.

      Hard work, persistence and patience worked for me.
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  • Profile picture of the author celente
    THey say it take money to make money.

    I started with nothing, and used free traffic, to make money and then bought paid traffic after that, with the help of warriors.

    I think if you have limited money you can do well, you just have to sacrifice tiime.

    And learn the art of building a list. WHile you might need money for that, you can still do some of this, free. And try to make sales this way. Its the quickest way to doing well online.
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  • Profile picture of the author SEOptimization@1
    That's true. A combination of "Smart Strategy, Hard Work and Perseverance" always work.

    Steve
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  • Profile picture of the author lamisha
    hallow,
    i am new there.in your post you talk about your life & how to earn money.
    i also want to earn a lot of money.but i cant find any proper way.some time i feel very upset.but i know life is not easy.so never let down.
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    • Profile picture of the author ncairncross
      The "proper way" and the ONLY way to earn a lot of money is to provide lots of value to a lot of people.

      Those people should have a passion or a pain, where you can provide something to feed that passion or help that pain.

      Focus on deciding on your "hungry crowd" first then solve their problem whatever it is, and you will make lots of money in a very proper way.

      Does that help?
      Nicola
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  • Profile picture of the author yukon
    Banned
    There's no exceptions when making money and starting with nothing. That's just making up an excuse why you can't do something and having a pity party in order to convince yourself life isn't fair.

    No, you don't have to outwork anyone else, that's just a marketing myth. There's plenty of folks working their ass off and still broke.

    OP is confusing desperation with not starting out with money, those can easily be two totally different things.

    Starting with money (nest egg) won't teach you anything except how to lose money faster.

    Starting with nothing teaches you to think and be responsible about cash flow, lean business decisions, less waste.

    My advice for everyone is start out with nothing, at least once. Work your way up and keep reinvesting the money back into your business. It's not nearly as difficult as some folks make it out to be.
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  • Profile picture of the author Kay King
    Starting with a small budget allows you to get the basics (domain/hosting/autoresponder, for example) without wildly spending on MMO products.

    No one would think it's smart to open an offline store without spending money to stock the store....and they certainly wouldn't expect to make fast money when they have nothing to sell.

    Online - many people actually believe they can invest no money, little time or effort - and make big bucks fast. They have no idea HOW to earn - but surely if they slap their 'links' up on enough sites, something will happen. Right? Well, yes, often they become just another spammer hanging out on the internet...
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    • Profile picture of the author discrat
      Originally Posted by Kay King View Post


      Online - many people actually believe they can invest no money, little time or effort - and make big bucks fast. They have no idea HOW to earn - but surely if they slap their 'links' up on enough sites, something will happen. Right? Well, yes, often they become just another spammer hanging out on the internet...
      Yep, and just go into the WSO section and see why this is so prevalent.. I realuize people need to take personal responsibility but many of my these
      so called "gurus " sure don't help
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  • Profile picture of the author Regional Warrior
    Great thread Steve
    I created a course back in 2010 just before my break down and it was all free methods using what was available at the time made just over 2K but it was a slow burn
    Its very possible to make money with no money just have to be resourceful but like i wrote this was 7 yrs ago and two of the companies i was using no longer exist

    Jason
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  • Profile picture of the author dddougal
    There used to be a time when it was easy to get rolling with zero cash, but not now. Its extremely difficult in this day and age.
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  • Profile picture of the author kwatts
    was a nice read Steve and i agree
    with the fact that if you can work and
    save some money up before you jump
    in is key.
    Meanwhile, you can be researching and
    putting something together that people
    are demanding.

    For example,
    I have found something that works
    and have every facet ready to go...
    now i need a few grand to initiate
    it, but how am i going to get it?

    I'm considering driving for Uber
    and looking for part time stuff
    on Craigslist and other job sites.

    Sucks but is our internet marketing
    reality.
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  • Profile picture of the author quadagon
    In the last few years I have launched two businesses from zero and helped a friend start up on line business with just $200.

    The two businesses I set up for myself we're done as challenges to see if it was possible to start a business with zero.

    I'm pleased to say that both businesses we're successful - one so much so that a rival bought the business from me.

    This success didn't really come from working hard (although that is something I'd always encourage) but from two other traits: knowledge and experience.

    When I was first starting out in the world of work I sold wine and whiskey to minor celebs and sports stars. This taught me a lot about proposition and perceived value. It also quickly taught me that price isn't as important as people think it is.

    I sold this via prearranged appointments and in the rest of my time I worked a second job (call centre sales) and studied two degrees. I did this for 4 years before qualifying and raising enough seed fund to start my agency.

    An important point to note is that I live and breath marketing. I read 50+ books a year on marketing, I watch adverts not TV shows, my podcasts are marketing related even when I am out shopping I am looking and learning.

    After 20 years of this and more business/life lessons than I care to remember I was in a place to try and start a business with no funds.

    If my main business went belly up could I start a business from nothing - yeah sure.

    Could the inexperienced unknowledgeable quadagon of 20 years ago? I doubt it.
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  • Profile picture of the author JohnVianny
    Of course if you need money to pay the bills it's harder to think of online business and you need a job.

    In any case: you need a SYSTEM, an Email Marketing system and you need MONEY for paid traffic, or at least a lot of spare time to learn free techniques to drive traffic like SEO and so on.

    In any case: money or time, but at the end if you have free time it's beacuse you had payed bills and u have worked.

    So it all starts on you.
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  • Profile picture of the author ryanbiddulph
    Amen Steve.

    Like John's viral post, this should be recommended reading for all.

    I dove into blogging when broke. It helped me clear out fears - by losing all my money LOL - that made me who I am today. Yet I suggest most folks really think long and hard before trying to Poor Boy or Poor Gal it. Because I spent many years spinning my wheels doing what you did, trying to freebie my way to working a real business.

    Even worse? I was so desperate that I was blind to good advice and did stupid things. Double Whammy.

    If you want to play with the big dawgs you will out serve everybody else from the right energy and you will spend money buying a premium theme, premium hosting, CDN, training materials, etc, etc. Even if you bootstrap you gotta spend good change on a few things, minimum.

    Ryan
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  • Profile picture of the author Rory Singh
    This is a good post Steve!

    And as Kay also mentioned above...those who believe they can just put their links all over the place are labeled as Spammers.

    A lot of these people are desperately leaving a ton of comment spam on YouTube all day long every day.

    Doing stuff like that makes you look inexperienced.

    Nowadays people online are getting very picky not only with what they are buy (but also from whom they are buying).

    People buy into 'credible' marketers and then there products.

    And yes you will need a budget to start with 'out of pocket'.

    If someone doesn't have an ongoing budget they will need to find a job and put away some money for tools etc.

    Traffic can be created using FREE strategies and by delivering consistent value.

    But tools like Aweber, Website hosting will cost money.
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  • Profile picture of the author ChrisBa
    Very well said.
    I think this should be a prerequisite for all new members to read before posting.
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  • Profile picture of the author sakib777
    Thanks Steve for such AWESOME words!
    I know how hard it's to start with no penny coz I did it. However, after a lot of struggles now I am on a stable position but still a lot to go my brother.

    - Have a nice day!
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  • Profile picture of the author deepak2
    Great Information friend. thanks for this
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