How much money did you lose before you could quit your day job

8 replies
Hi,

Nope, that was not a typo.

I want to hear from successful Warriors (I mean people who can live comfortably off their IM efforts) how much money they actually lost before they became successful and could quit their day job?

I am really interested in this, cause I feel they may be a lot of people (including myself) that pour their paycheck from their day job into IM only to lose the lot and make no money.

And I don't mean losing money on buying IM products to learn more (although that can cost a lot) I mean losing money on product creation, domain purchasing, advertising, list building e.t.c.

Thanks for your time
#day #job #lose #money #quit
  • Profile picture of the author Jon Daniels
    I lost a lot to begin with as I didnt control what I was doing. I would say in the thousands with money going on hosting, domain names, ppc, buying every product someone put in front of me.

    I then started doing my accounts on the 1st of each month, ie what had I spent on what and what was I earning.

    After 3 months of not making any money but streamlining my costs I figure out what my min monthly target was to break even. So once a month i knew I had to launch something to make some money.

    Once I figure out how to make £50 a month, it became easier to scale things up.

    The secret to doing well.....take "planned" action
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  • Profile picture of the author KlikApps
    Honestly... not that much.

    Maybe $200 or so? Of course many of the websites I did ended up making more than the domain costs, and I've always used a host that's EXTREMELY cheap but very reliable, so my costs have always been minimal that way.
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  • Profile picture of the author sbucciarel
    Banned
    I bought a $2,000 course from a con artist
    I lost about $1,000 on Adwords
    I spent money on about 150 useless domains total
    A couple miscellaneous junk ebooks

    I'm cured now.
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    • Profile picture of the author Terri Tutten
      I didn't lose much money except on about ten useless domains before I figured out how to do proper keyword research. For me it was more a matter of how much time I spent learning how to do everything the right way, and trying different things until I figured out what worked for me.

      I'd made a promise to my husband and to myself that I would learn how to make money without spending much money - so that kept me from buying many shiny new things. I spend more now on WSO's than I did before I quit my job.

      Terri
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      • Profile picture of the author MatthewM
        $360 per year training membership paying $29.95 per month. But this paid for itself. I manage to pull a few referrals

        Spent about $500 on ppc but barely broke even

        about 15 domains names hosting

        Copy of the rich jerk.

        As far as the job goes I was laid off shortly after starting IM. My budget went out the window and I started cracking out 10 to 20 articles per day.

        So I went fulltime banking only about $300 - $500 a month.

        However after going fulltime I was able to bump up my monthly earnings to about $3k to $4k per month in about 6 months working only 1 niche.

        Desperation is a extremely good motivator.

        So going fulltime before I was ready was really worth it.
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  • Profile picture of the author Dan Bainbridge
    I never bought info products

    I never invested heavily until I knew what I was doing. Any inititial investments came from profit.

    There are plenty of ways to make some money for free, or for very cheap - i.e. just a little hosting and some domains with basic blogs, landing pages, review sites on them etc..

    My rule is don't invest until you know what you are doing, until you KNOW that your investment will make a return, otherwise in your position, investing your real life pay cheque into IM it is simply gambling and wishful thinking.

    To answer the question though, I didn't lose ANY money, but I worked 20+ hours in IM on top of my 40 hour a week day job for 9 months before quitting work. Within this time I didn't earn that much in IM, and never paid myself once. When I quit I paid myself $750 that month, and increased it every month there after - I was at a point where I knew what I was doing and KNEW I could scale it up to bring in more money.
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  • Profile picture of the author Derwin
    Yes they lose lot of money before becoming a successful marketer. It is also possible that few people may not lost it much but overall if we see then we can say that internet marketing does not come in one day.I aslo lost few money but not so much that I could not work again.
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  • Profile picture of the author Kevin_Hutto
    How much did I lose? I dont know, I tend to think of it all as education... I just sometimes learn what not to do... I do know that i have spent over $100k through the years learning and training and seminars etc... Its worth it. The absolute best return on your money is skills training - learn new skills - even if you just use it to understand the process enough to hire the right people - I buy most products that come out - not for the same reasons that most buyers do... Most buyers are newbie biz opp seekers who are hoping for a magic bullet... But personally I buy them because this is my business. I am smart enough to know that I dont know everything... And if people are willing to share with me what is working for them for a few hundred or few thousand bucks - then I am happy to pay it.

    The key is being humble enough to always be learning - even when you have "made it"... So, the point of saying all this is that you will continue to spend all the way through - and some products/courses are better than others... The only time i ever ask for a refund is if it was a bait and switch of some sort.
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