If you had $1000 to spend on IM this week what would you spend it on?

22 replies
One of my clients wants to invest in a business idea with me but though I have an idea in mind (selling used laptops international into countries that have limited selection or where locally bought laptops are very expensive given that used US laptop prices are so cheap and the falling dollar value) he is open to any sound business idea and has offered to put in something like $1000 initially with more to follow if we can successfully turn a profit, any profit.

I thought what better place to get input and some ideas on how to turn that $1000 into more money for us both than to ask here.

So...if you had $1000 from someone to invest what would you do with it?

It cannot involve selling tangible products to Californians. I don't want to collect and remit sales taxes to CA (I live in CA). I have enough paperwork with regular taxes to be bothered with adding even more paperwork to the mix when I don't have to.

Being an affiliate in California might also be a problem for some companies like Amazon I believe because of this sales tax issue too though I am not sure about that.

Any and all ideas are welcomed and appreciated.

Thanks.

Carlos
#spend #week
  • Profile picture of the author stealthpromo
    Id do what i normally do. Set up a site selling a niche physical product and dump the cash on advertising. Between the flashy graphics and awesome copy it usually works out
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  • Profile picture of the author sweetgal
    Banned
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    • Profile picture of the author carlos123
      Hmm...cute .

      I mean about sending you the rest.

      But you do highlight a problem with setting up niche sites. It doesn't take no $1000 to set one up. And one must wait an awefully long time, relatively speaking, to get any money back (i.e. to get indexed, ranked, and so forth).

      I am really looking for something more immediate than the usual build a site, get ranked well, and sell to those coming around and signing up for your list type of thing. Not that such is a bad thing mind you but I consider that to be the slow, long haul approach to successful internet marketing.

      I am looking to recommend we do something with faster returns and something that costs more than just $50 to get started in.

      One possibility I heard about recently is buying and selling old single song albums (i.e. Elvis, Bob Dylon, etc.). A older member at the gym I go to hangs out there a lot. All he ever does is get on the computer and put up auctions on EBay. He recently bought a single record, a little thing, for $100 and sold it for $1900. Not all his sales are that good but many are very, very good where he buys cheap and sells for double or even triple what he pays.

      But...that involves having to pay sales tax to CA which I don't want to get involved with. Or indicating that you won't sell to any Californians but that's problematic.

      Any other ideas?

      Carlos
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  • Profile picture of the author fated82
    1) Find a product that people already want (Research, FREE)
    2) Get a copy or sales page or website done (Fiverr.com for $5, no more than $100 or commission basis)
    3) Build a list (dump all your remaining dollars in solo ads, article writing)
    4) Set up an affiliate system (Clickbank for $49)

    Brief and simple but I think it should get you started with at least 1 or 2 sales. The key is to get your product and sales copy right
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    • Profile picture of the author jtprattmedia
      Originally Posted by fated82 View Post

      1) Find a product that people already want (Research, FREE)
      2) Get a copy or sales page or website done (Fiverr.com for $5, no more than $100 or commission basis)
      3) Build a list (dump all your remaining dollars in solo ads, article writing)
      4) Set up an affiliate system (Clickbank for $49)

      Brief and simple but I think it should get you started with at least 1 or 2 sales. The key is to get your product and sales copy right
      I gotta kinda go with this approach.

      With $1,000 though I would buy...

      1. 10 domain names ($100 or less?)
      2. Get 10 sets of graphics / landing pages ($50)
      3. Get some SEO content written for the 10 domains ($50-100)
      4. Have an ebook created with a unique product to sell for all sites ($250)
      5. Put the 10 products on clickbank
      6. Pay a virtual assistant 10 hours a week for a month to build links to all the sites ($200)
      7. Spend the last $250-300 on PPC to get the party started.
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      • Profile picture of the author Karen Blundell
        Originally Posted by jtprattmedia View Post

        I gotta kinda go with this approach.

        With $1,000 though I would buy...

        1. 10 domain names ($100 or less?)
        2. Get 10 sets of graphics / landing pages ($50)
        3. Get some SEO content written for the 10 domains ($50-100)
        4. Have an ebook created with a unique product to sell for all sites ($250)
        5. Put the 10 products on clickbank
        6. Pay a virtual assistant 10 hours a week for a month to build links to all the sites ($200)
        7. Spend the last $250-300 on PPC to get the party started.
        I would use a similar strategy except for item 7. I would harness the power of free/low cost advertising because it's what I know best
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        • Profile picture of the author carlos123
          Originally Posted by Karen Blundell View Post

          I would use a similar strategy except for item 7. I would harness the power of free/low cost advertising because it's what I know best
          What kind of advertising would you spend the $300 or so on Karen? Adwords? Newspaper classified? Paying someone to post ads on craigslist?

          What kind of free/low cost advertisting have you yourself found to be effective in the past?

          Any expansion on what you said would be great if you feel like sharing more with us.

          Thanks.

          Carlos
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  • Profile picture of the author Jake Gray
    If I were you and had $1,000 at my disposal, I'd probably hire a few more Virtual Assistants.

    I'd then take time to create more products & build a list.
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    • Profile picture of the author myob
      Sell Amazon products. You would not be liable for sales tax to Californians as their affiliate. I also live in California, and with a bit of online/offline gruntwork promotions of their high-end products you could recoup that in less than a month.
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      • Profile picture of the author carlos123
        Originally Posted by myob View Post

        Sell Amazon products. You would not be liable for sales tax to Californians as their affiliate. I also live in California, and with a bit of online/offline gruntwork promotions of their high-end products you could recoup that in less than a month.
        Thanks myob. I just found out through my online reading that online sales tax attempts have so far failed in California so I am good to go for Amazon affiliate income. At least for now.

        I also read that I can incorporate in another state anyway and sell all I want online without having to collect CA state tax if worse comes to worse and they eventually pass such a law here. Though of course I would have to check with a competent lawyer and a tax accountant about that to be sure.

        Setting up a bunch of Amazon affiliate sites might also be a possibility. Slower to be sure but it wouldn't cut into the money available to buy laptops very much so maybe I could do both. Sell a couple of used laptops AND start a couple of niche sites geared to selling particular Amazon products.

        I tried Adsense once already. Built 7 web sites. Most got rather highly ranked but I didn't make a single dollar. Of course I learned a thing or two through that experience but still, I was left rather leary of making income through niche web sites. Just something I have to get over I guess.

        Carlos
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    • Profile picture of the author carlos123
      Hmm...appreciate the input but unless anyone else has some additional ideas I think I will stick to the used laptops to other countries idea.

      For $1000 we can buy at least two good used laptops. Advertise them locally in the country of our choice (which shall remain nameless ) and then ship them to buyers who prepay for them by credit card.

      Shipping is $110 US to this country for a laptop.

      Laptops in the country I have in mind typically run at least 40% higher than in the U.S. And they have a whopping VAT tax of around 20%. We don't have to collect the VAT ourselves and whether the end customer pays the VAT or not to their residence country is completely up to them and is their responsibility. We just sell them a good, used laptop at a reasonable price.

      Good used laptops are hard to come by in this country from what I understand. So it's not just the price which is high but also that the selection is low.

      All we have to do is figure out how to advertise it to prospective buyers there. They have a craigslist but it's hardly used unlike here in the States where in my area...it is RED HOT for used laptops for sale.

      Newspaper classifieds there might do it. Or perhaps there is some craigslist alternative there. I'll have to research it more.

      No hassles for an initial quick buck I think at least in theory.

      I'll work on the niche web sites, affiliate web sites, SEO, Adwords, ads, and the usual Internet Marketing stuff (all good) as found on this forum in my spare time.

      Carlos
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      • Profile picture of the author Black Hat Cat
        Banned
        Originally Posted by carlos123 View Post

        Laptops in the country I have in mind typically run at least 40% higher than in the U.S. And they have a whopping VAT tax of around 20%. We don't have to collect the VAT ourselves and whether the end customer pays the VAT or not to their residence country is completely up to them and is their responsibility. We just sell them a good, used laptop at a reasonable price.


        Carlos
        What will you do when they decide they don't want to pay the VAT and refuse delivery, and do a charge back claiming they never received the lap top, because technically, they didn't? Then you've got a laptop that may or may not find it's way back to you, you're out the money for the laptop, you're out shipping, etc. Something to keep in mind. International customers come with their own set of headaches.
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  • Profile picture of the author GeorgeC
    If I had $1000 to invest in something I'd definitely buy and affiliate site or a couple that are making some money probably for $500 and use the rest to build them stronger.
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    • Profile picture of the author carlos123
      Originally Posted by NBeat View Post

      If I had $1000 to invest in something I'd definitely buy and affiliate site or a couple that are making some money probably for $500 and use the rest to build them stronger.
      Hmm...now there's an interesting idea. Buy existing money making web sites and make them stronger. Hmm...that might be worth doing.

      Are there a decent amount of $500 money making websites out there? I mean $500 doesn't sound like much for a money making web site. Why would someone want to sell a money making web site for a measly $500?? Kinda doesn't make any sense to me as if I had one such site I would hang on to it and eat bread and water rather than sell it.

      Also how would I determine if their claims to money making are any good?

      I wonder if both of us should just join the War Room here and lurk for a while? We'll only have about $900 after that but it might be worth it.

      Carlos
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      • Profile picture of the author Anthony_Hall
        Originally Posted by carlos123 View Post

        Hmm...now there's an interesting idea. Buy existing money making web sites and make them stronger. Hmm...that might be worth doing.

        Are there a decent amount of $500 money making websites out there? I mean $500 doesn't sound like much for a money making web site. Why would someone want to sell a money making web site for a measly $500?? Kinda doesn't make any sense to me as if I had one such site I would hang on to it and eat bread and water rather than sell it.

        Also how would I determine if their claims to money making are any good?

        I wonder if both of us should just join the War Room here and lurk for a while? We'll only have about $900 after that but it might be worth it.

        Carlos
        Some people may want to sell it because maybe they're used to make websites that are much higher earners and they'd rather take the $500 dollars from that sale and roll it over into another website rather than putting more time into it.

        I mean hell if you find a profit producing website what does it matter why they're selling it? A good deal is a good deal.
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  • Profile picture of the author nvs74191
    Whatever money I budget for IM, I pour into getting more visitors to my site. This keeps the sales chugging along.
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    Swaminathan

    I am a Jack Duncan Fan!

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  • Profile picture of the author 60MinuteAffiliate
    I'd actually go to flippa and invest in a site that's making money.

    regards

    colleen
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    Want To Learn How To Make 7K A Month In Minutes A Day?

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  • Profile picture of the author adtwin
    I'll buy many good niches with a great PR, little part of that money i'll give to the orphanage....
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  • Profile picture of the author abhi1
    I'd invest the money into creating a software product that really solves
    a small niche problem. It could be a plugin, a script or just another facebook
    app and market it a bit to my list or as a WSO here & eventually flip it if it
    doesn't works out the way I wanted.
    Both ways, you make more than $1000 in a week...
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  • Profile picture of the author Dash Evra
    I'd use that $1000 to outsource as much as the "set up" works as possible
    -Pay someone to do keyword research to find a good niche in an area of interest
    -Buy a domain
    -Go to fiverr.com to get some contents for your site
    -Pay someone to do in-site SEO
    -Pay someone to do backlinks

    I don't know how much that would cost but it would get you a good start
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    • Profile picture of the author carlos123
      Great input you all!

      I've decided against the laptop sales to a foreign country after discussing this very idea with American expats and locals on a forum dealing with that country in particular.

      While laptops there are more expensive than here there is not enough of a spread to justify the time and effort that would be involved in selling used laptops there. Also locals are more inclined, than here, to assume the worst about a used laptop and are predisposed to buy a new one more.

      Then there are VAT tax issues, import duties, and other such things to possibly content with.

      Much, much better I think to find a good niche and build sites around them and either sell a product created by us for that niche or monitize it with Amazon, Hostgator, or any number of other affiliate programs.

      I'll be discussing all this with my partner more but that is where things stand at this point from my end.

      Thanks again!

      Carlos
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      • Profile picture of the author dsm091
        Buy a nice laptop and another 26 in monitor. Dual 26's in my home office would be sweet!

        Then I would quickly work to make that laptop and monitor make money for me. There is something to be said about a good setup to work on.
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        • Profile picture of the author carlos123
          Originally Posted by dsm091 View Post

          Buy a nice laptop and another 26 in monitor. Dual 26's in my home office would be sweet!

          Then I would quickly work to make that laptop and monitor make money for me. There is something to be said about a good setup to work on.
          Appreciate the input dsm091 but...well...I am looking for concrete ideas that are actionable and not just something that would be nice or generic like get a laptop and nice monitor and make some money.

          Exactly how would you make money from a laptop/nice monitor combo in other words?

          Care to elaborate?

          Carlos
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