Two years to get a profitable online business

9 replies
Been reading lots of posts here from people who are starting out, or a year in and struggling to make money. Just thought I'd put my few cents in as someone who is now earning a full time salary off an online business...

I started in the world of eCommerce on 2004 and left university with a fantastic idea of launching a music library for broadcast. I started with around $1000, paid a developer to build me a very basic but functional website and got started finding music to sell on a commission basis.

To fund my living costs and ongoing development I got a job in a bar at night and supermarket by day. I ploughed every cent I earned back into the business, making huge mistakes such as paying SEO guys hundreds per month to employ black hat techniques and ruin any work I was doing. A steep learning curve.

2 years in (2006) and I still was making no money online, had increasing debts (including a non-paid student loan) and was getting desperate. I launched a free music site on the side to try and generate some traffic to send to the main site. The free music site went crazy, receiving thousands of hits per day after a year but it didn't convert to sales on the main site. I monetized the free site as best I could but being inexperienced I was literally managing to make just $50 per day. So after a few more years of struggling on I quit the main business (just closed it down) and spent a further 2 years trying to monetize the free site, with little success.

I eventually sold the free site for a good amount of money, with almost 1 million subscribers to my mailing lists and 12,000 hits a day. Yeah I know, I could have made loads somehow off that list.

I took the money and reinvested it into a new business, a social network for parents which flopped massively. I won't go into the details, but let's just say you need hundreds of thousands to launch a social network, not just a few thousand.

In 2014 I had to get a job back in a supermarket full time to support my now growing family.

In 2015 I decided with my music which was now sitting on a hard drive I'd give it another go and launched my second website, a free music website but this time knowing I needed a strategy to monetize it. This was to offer higher quality audio for a fee while giving away lower quality versions.

I decided the best option was to not get too heavily bogged down with SEO, make the site compliant to SEO standards from the start and focus on adding content daily.

3 years on and it worked, I now have a business earning $60,000 per year and growing.

The moral of this story? Don't give up... work your arse off, get jobs to fund your business and plough every cent you can in... personally I took the route of not spending all my time worrying about SEO... create fantastic content and a service that everyone loves, I try to answer all customer emails within 2 hours (unless I am asleep of course) and just make what you have the best it can possibly be. You should be working at least 50 hours per week (at least at the start if possible).

The final piece of advice.... if you've read the above you'll realize to put in the time and effort you really need to do something you love, you're passionate about and want to spend all your time doing. If you do, you can't go wrong.
#business #online #profitable #years
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  • Profile picture of the author GordonJ
    Originally Posted by frambles View Post

    Been reading lots of posts here from people who are starting out, or a year in and struggling to make money. Just thought I'd put my few cents in as someone who is now earning a full time salary off an online business...

    I started in the world of eCommerce on 2004 and left university with a fantastic idea of launching a music library for broadcast. I started with around $1000, paid a developer to build me a very basic but functional website and got started finding music to sell on a commission basis.

    To fund my living costs and ongoing development I got a job in a bar at night and supermarket by day. I ploughed every cent I earned back into the business, making huge mistakes such as paying SEO guys hundreds per month to employ black hat techniques and ruin any work I was doing. A steep learning curve.

    2 years in (2006) and I still was making no money online, had increasing debts (including a non-paid student loan) and was getting desperate. I launched a free music site on the side to try and generate some traffic to send to the main site. The free music site went crazy, receiving thousands of hits per day after a year but it didn't convert to sales on the main site. I monetized the free site as best I could but being inexperienced I was literally managing to make just $50 per day. So after a few more years of struggling on I quit the main business (just closed it down) and spent a further 2 years trying to monetize the free site, with little success.

    I eventually sold the free site for a good amount of money, with almost 1 million subscribers to my mailing lists and 12,000 hits a day. Yeah I know, I could have made loads somehow off that list.

    I took the money and reinvested it into a new business, a social network for parents which flopped massively. I won't go into the details, but let's just say you need hundreds of thousands to launch a social network, not just a few thousand.

    In 2014 I had to get a job back in a supermarket full time to support my now growing family.

    In 2015 I decided with my music which was now sitting on a hard drive I'd give it another go and launched my second website, a free music website but this time knowing I needed a strategy to monetize it. This was to offer higher quality audio for a fee while giving away lower quality versions.

    I decided the best option was to not get too heavily bogged down with SEO, make the site compliant to SEO standards from the start and focus on adding content daily.

    3 years on and it worked, I now have a business earning $60,000 per year and growing.

    The moral of this story? Don't give up... work your arse off, get jobs to fund your business and plough every cent you can in... personally I took the route of not spending all my time worrying about SEO... create fantastic content and a service that everyone loves, I try to answer all customer emails within 2 hours (unless I am asleep of course) and just make what you have the best it can possibly be. You should be working at least 50 hours per week (at least at the start if possible).

    The final piece of advice.... if you've read the above you'll realize to put in the time and effort you really need to do something you love, you're passionate about and want to spend all your time doing. If you do, you can't go wrong.
    I've had this discussion (argument) with successful Warriors before, those who took 5+ years to make a living online. And your title, is misleading. Although I think accurate.

    It only takes two years of FOCUSED activity to earn a full time income, whatever that means. But, most insist it takes much longer because that is what they experienced.

    See, you are a poster child for your IM success journey, taking 14 years to get where you are today.

    Many similar success stories have also had the start/fail, restart/fail, start again, etc.

    And it is more than likely because you and they did not have a PLAN based on your strengths and abilities, backed by market research from the get go.

    I advocate spending 60 days to identify WHAT you want to do, and then COMMIT to that, find a tested and proven model to emulate, and then execute and adjust as you go.

    In USA, there is a movement to make 15 dollars an hour the "minimum wage", millions of Americans are at 9 bux or lower, in Ohio, our minimum is 8.15. At 10 an hour, it roughly translates to 20k a year or an after tax take home pay of $280.00 a week.

    Let's use the pre tax amount of 400 dollars a week. What would that look like in IM?
    Since the Internet never closes,you need about 60 dollars a day, or 10 an hour for 6 hours.

    These numbers are just for illustration, although you will find plenty of people at Fivver, Freelancer, ClickBank, JVZoo, WarriorPlus who easily make 60 bux a day.

    The 60,000 dollars a year you're making is about 5k a month, or 1250 dollars a week, or 180 a day.

    Your 60k is about TWICE the amount of the average American pay, and 3 times what a minimum wage earner makes. And depending on the PLACE you have chosen to live, it is either very good, or not so good.

    I maintain that earning 100 dollars a day, which many Warriors haven't gotten to in 5 years, is doable in the first 6 to 9 months of their IM activity, IF, they take 60 days and find the thing they want to do, which has the profit in it, and then execute that and STAY WITH IT.

    A PLAN of Action, based on knowledge, common sense, understanding of business (can be learned).

    So, knowing what you know today, after 14 years of being online, what would you do if you lost that income, and how long do you think it would take you to rebuild? Certainly not another 14 years, eh?

    Is there a real REASON why a person can NOT be making a full time wage in 2 years? I say NO.

    GordonJ

    PS. It comes down to this: Quit Farting Around--FOCUS on making money.
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  • Profile picture of the author frambles
    I agree, the title should have read "14 years"
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  • Profile picture of the author Andrewmonheim
    This is awesome. Hat off to you for never giving up. That is why you are successful today. Best of luck in the future!
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  • Profile picture of the author cybernext
    Awesome post!

    Its very valuable. thanks for sharing this.
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  • Profile picture of the author accofranco
    And here I am still struggling to find my niche after several years of trial. I think I need help, someone help a brother, sobs
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  • Profile picture of the author ryanbiddulph
    Good deal. Listen to frambles guys; if you keep at it, learn, practice, help people and make friends, goodness things will turn for you. Get your energy right. Do this from a generous space, being abundant, helping and helping and helping, many times for free, and the money does flow in. My deal too. Just keep at it guys.
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    Ryan Biddulph helps you to be a successful blogger with his courses, manuals and blog at Blogging From Paradise
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  • Profile picture of the author thebizcollection
    I think a lot of people work on an idea for so long, but for all my profitable ventures, I've seen cash come in almost immediately.
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  • Profile picture of the author nicheblogger75
    It took me a little over 2 years before I started making enough money online to support myself fully from it.

    I thought about quitting MANY times, and came close a couple of times.

    I think the one thing that stopped me was that I kept thinking that if I quit now all the work and time I had invested over the last two years would be lost.

    I finally found the right niche, started building a list, and hit my stride. I've never been a quitter, but out of everything I've done in my life I have to say that IM was the thing that brought me closest to quitting. It's terribly discouraging and demoralizing at times.

    But when you finally do succeed it is so SWEET!
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  • Profile picture of the author prayosha
    Well, there are actually 6 main options for online business ideas to pursue -- and I have systematically tried them ALL. I can tell you with no uncertainty that there is only one online business that I think is the best. By the end of this post, you'll know exactly what's the best online business to start.
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