PLEASE HELP - I've got $10K to spend. What's the BEST way to quit my job and do IM FULL-TIME?! | Warrior Forum - The #1 Digital Marketing Forum & Marketplace

13 years ago

OK, hold onto your money and go through all the classic posts here to see what IM approach suits your needs. Then look up posts from people like AndyHenry and Kevin Riley and ExRat and others. Make sure you also join the War Room. Read everything in there. Don't buy any WSOs until you know the lay of the land. Oh, don't forget to drop by the offline section of the forum, interesting stuff there also. Good luck and welcome aboard.

TomG.

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almondj 13 years ago

Writing articles for others may be a good option as well, you might not make $100k/yr off that though. If you're into content creation, I'd definitely say SEO may be something you could really excel at. Tie it in with something you dearly love or extremely interested in, you could profit big-time.
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suemax

13 years ago

Originally Posted by tommygadget

OK, hold onto your money and go through all the classic posts here to see what IM approach suits your needs. Then look up posts from people like AndyHenry and Kevin Riley and ExRat and others. Make sure you also join the War Room. Read everything in there. Don't buy any WSOs until you know the lay of the land. Oh, don't forget to drop by the offline section of the forum, interesting stuff there also. Good luck and welcome aboard.

TomG.

Great response in my opinion. There are a HUGE number of ways to spend that money (and quickly!) without getting what you want (or possibly not getting anything at all!).

I too was used to a decent "day job" income, and I confidently walked off into the sunset, expecting to soon replace it. Let me ask this question - Aaron, if you decided today to become an architect or a doctor or a lawyer, could money turn you into one, capable of making a "normal" architect's salary, lawyer's salary etc? I am an accountant. We used to suffer a lot from Accountancy graduates who came out of Uni without being able to do even the most basic office tasks..... and you will have the same problem. Expect to have to learn some stuff - and it may well take FAR longer than you expect. It did me. Expect to spend longer learning the "how-to's" (even if you espouse outsourcing, which barely works at all if you don't know what to ask for, or don't have the skills to separate the wheat from the chaff), and for there to be a FAR longer "gestation period" than you expect.

You may need your savings to sustain you whilst you get up to speed.

Good luck!

Sue

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Richard Van 13 years ago

I have to agree with Suzanne on this.

Are you married, do you have kids? Can you go back to your job if this all goes pear shaped?

I only ask because these to me are massively important questions. It may feel great with the job now and the 10k but when it's gone and you're earning way less than that, your mind may start doubting. Go down that route and you may well be in the s***. I got into IM starting with nothing, literally nothing, I was going from nothing to something, it was easier for me.

You on the other hand are in a very nice position. You have good money coming in now.

You seem very keen to pay for coaching, I respectfully would like to put a spin on this. You say you've heard about people paying good money for coaching and making tonnes back. I assume you know or have met these people? How many paid a lot of money and got no where? Paying for something gaurantee's nothing. Only you can do this.

I'd keep the 10k, work around your job to see what you can do, what you like doing and is it worth doing. Once you earn enough to live on and support the family, do it then, you may have 20k saved up then too, which you don't need to spend.

I'm just thinking of you, all your doing is saying "yes this will work". Well let me tell you, just because you think it, doesn't gaurantee it. Things happen in life, stuff you don't expect. Have a look at the downsides too, if you have a wife and kids, you may want to factor them into that thought as well.

I only say this because I've been to the bottom of the barrel, that's when I started IM. If I had 100k a year coming in, I'm not sure I'd have had the right mindset. (That is just me of course).
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Benjamin Ehinger

13 years ago

Originally Posted by Enygma44

Hey Warriors,

First off, I want to thank you for taking the time out of your busy day to respond to this forum post. I'll keep this short and sweet. Here's the situation:

Goal is to quit my job THIS YEAR and would like to do IM full-time. My IM business must bring in at least $100K net profit each year AND be sustainable for many years to come.

- I've got $10K to spend (been saving for a while now)
- I make $85K in my full-time job at 25 years old
- Great work ethic, focused, and skilled at copywriting/content creation
- Knowledgeable about IM but not an expert

Here is the question I need answered:

If you were in my shoes and had the same goal, what would you do?

- Would you look for private coaching from successful Internet Marketing experts who are generating over $1M a year? If so, who?
- Would you purchase the best products across the IM framework (niche selection, list building, SEO, product creation, etc.), create a plan of attack, and IMMEDIATELY take massive action? If so, which products are best within each of these niche subjects - niche selection, list building, SEO, product creation, upsell/follow-up marketing, etc.?
- Any other ideas?

I am 100% committed to making a full-time living online that exceeds $100K my first year. Whatever needs to be done, I'll do it. The same success factors that allowed me to become the YOUNGEST MANAGER in the history of my Management Consulting firm will also be rigorously applied to Internet Marketing, and even MORE SO since I actually enjoy marketing

Thank you in advance for your responses and feedback. Here's to financial freedom!!

Cheers,
Aaron Wang

Aaron,

If I were in your shoes I would be outsourcing quite a bit of work. I would build Amazon Review sites, Clickbank Review sites, build up a list, build google adsense sites, and probably a few sites to promote CPA offers as well. You will want to have many different sources of income and not just one.

I would outsource most of the content creation and articles that I would be using to help build backlinks and traffic to my sites. I would hire a SEO professional to make sure all my sites are set up for the best possible search engine ranking.

I would probably also buy a couple of websites for around $500 each that are already making a profit each month, but need more traffic and more content. Then, I would build those up and get them to make me more money as well.

If your goal is $100K a year, then each of your sites needs to also build you a list, which is where you will make a large amount of money.

There are going to be a lot of people that will tell you to create your own product, but if you do this just know you will deal with customer service issues, refunds, and many other things that, I personally, like to keep to a minimum.

Just my 2 cents.

Benjamin Ehinger

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John Alves

13 years ago

The best thing you can do is to build an email list about a subject. Give them good value for free about the subject, and then promote products either as an affiliate or products that you have created. With $10,000 to spend, you should be making money online quickly. Just don't spend a lot of it on hyped up 2 grand courses. You need to invest it into your business. Traffic is what you need to spend it on. The most profitable and best long term business on the internet is email marketing, in my opinion. Good luck.

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donnan

13 years ago

First thing I would do is HOLD your money!

Don't do anything rash. You can bet you are about to be plundered with 500 PM's promising you the world.

My tip to you is:
Get involved in marketing something you love doing or you are very skilled at. When you are passionate about something, it shows in what you are doing. The money will just come from this approach on it's own.

One thing I have learnt about making a living of the internet and I have been doing it for 18 years. Is find something of interest and KEEP DOING IT!

Persistance is the key. I have just gotten out of an internet business where I generated $1.5 milllion dollars a year. Now I am starting out like you. IM in some totally different area. But I will succeed because I know how anyone can make a living on the internet.

PM me if you want to chat further about it. I am happy to give you guidance from my experience and I promise I won't try to sell you a thing.

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donnan 13 years ago

Originally Posted by donnan

...... I am happy to give you guidance from my experience and I promise I won't try to sell you a thing.

I didn't want to call it coaching as that would infur a charge.
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jasonthewebmaster

Banned 13 years ago

Dude ill take your job any day LOL

but seriously, sounds like you have some good skills and experience. Just pick a niche and stick with it!

Keep in mind, if you quit your job, you will most likely make LESS than 85K your first year doing IM full time.

But of course, you could do way more than 100K too.

Either way though, you will be living your dream.

My advice is whatever you decide to do in IM, focus on AUTOMATION... that is the key to being happy and not working but still making profit.

Originally Posted by Enygma44

Hey Warriors,

First off, I want to thank you for taking the time out of your busy day to respond to this forum post. I'll keep this short and sweet. Here's the situation:

Goal is to quit my job THIS YEAR and would like to do IM full-time. My IM business must bring in at least $100K net profit each year AND be sustainable for many years to come.

- I've got $10K to spend (been saving for a while now)
- I make $85K in my full-time job at 25 years old
- Great work ethic, focused, and skilled at copywriting/content creation
- Knowledgeable about IM but not an expert

Here is the question I need answered:

If you were in my shoes and had the same goal, what would you do?

- Would you look for private coaching from successful Internet Marketing experts who are generating over $1M a year? If so, who?
- Would you purchase the best products across the IM framework (niche selection, list building, SEO, product creation, etc.), create a plan of attack, and IMMEDIATELY take massive action? If so, which products are best within each of these niche subjects - niche selection, list building, SEO, product creation, upsell/follow-up marketing, etc.?
- Any other ideas?

I am 100% committed to making a full-time living online that exceeds $100K my first year. Whatever needs to be done, I'll do it. The same success factors that allowed me to become the YOUNGEST MANAGER in the history of my Management Consulting firm will also be rigorously applied to Internet Marketing, and even MORE SO since I actually enjoy marketing

Thank you in advance for your responses and feedback. Here's to financial freedom!!

Cheers,
Aaron Wang

Thanks

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Enygma44

13 years ago

Thank you all for the great responses! I have a feeling I shall be PM-ing some of you to follow up :-).

You guys are something else - really appreciate the immediate advice!

- Aaron

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Enygma44

13 years ago

Just for clarification:

I am not a complete N00B to Internet Marketing :-). I've browsed the forums, brought countless products, and even offer content creation/copywriting services right now. I have a War Room membership and have truly learned a great deal from all the wonderful people here.

However, despite that, I am FIRM BELIEVER in RESULTS. Diversification is great and hedging my risk by having multiple streams of income is always a huge plus, but at the same time, I really think product creation and e-mail marketing is where TRUE, SUSTAINABLE long-term income lies.

So far haven't heard a SINGLE soul mention anything about private 1-on-1 coaching.....interesting ;-) - I thought this would be the immediate default answer for many of you!!

- Aaron

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Ernie Lo

13 years ago

Keep your money! Nobody every made it successful in IM by throwing money around.

You need to do it like everyone has had to...with hard work and persistence!

Find a model, and once your start earning a bit of money over a few months and its obvious your model works, than you can think about using some of your 10K outsourcing.

Prob not the answer you want but anything else would be down right irresponsible.

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Enygma44

13 years ago

Originally Posted by Ernie Lonardo

Keep your money! Nobody every made it successful in IM by throwing money around.

You need to do it like everyone has had to...with hard work and persistence!

Find a model, and once your start earning a bit of money over a few months and its obvious your model works, than you can think about using some of your 10K outsourcing.

Prob not the answer you want but anything else would be down right irresponsible.

Ernie,

I can certainly see your perspective on this, but I must respectfully disagree. I do believe that while there is certainly the fundamental element of mindset/knowledge, I do know people who have paid hundreds of dollars per hour for coaching from successful IM-ers and have made their investment back tenfold. Here's what I've heard:

- Student pays $200/hour for private telephone call on immediate ways to create a product that will sell
- Create product
- If the quality is high-enough, coach will promote product to HUGE list in exchange for commissions
- Student builds list through the product and continues coaching process

Has anyone else heard of this? Not trying to cheapen the value of knowledge and hard work, but this is just taking a shortcut - and I believe there are legitimate shortcuts in life if you have the right connections and resources.

- Aaron

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rabbi

Banned 13 years ago

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Jill Carpenter

13 years ago

Originally Posted by Enygma44

So far haven't heard a SINGLE soul mention anything about private 1-on-1 coaching.....interesting ;-) - I thought this would be the immediate default answer for many of you!!

- Aaron

No, because finding a coach (IMO) should come after you've decided the direction or plan for your business. Then you can find someone who specializes in the direction you are taking.

1. find out what you need to have in place locally to make your business a legal business

2. decide on your business model - what you are going to sell and how you are going to sell it

3. outsource as much as possible and grow what ever you start

4. don't quit your day job until you can match that income and you have at least 6 months expenses in the bank to fall back on.

If you are unsure what type of business exactly you want to pour your heart and soul into, then keep searching and reading until you find it.

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True Solution

13 years ago

Brother you don't need to spend money to make money online. I can prove that.

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Doran Peck

13 years ago

10K isn't going to go very far if your not careful with it.
Your fire and desire is outstanding...and it will attract the confidence the people you deal with.

I would encourage you to get a good grasp of direct mail as well. A creative marriage between direct mail and IM is powerfull.

Much luck to you.

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JoshuaZamora

13 years ago

Build a list. an be patient! Don't expect overnight riches and dont throw your money at over night rich programs there are many! this is a business and it will take time. Don't quit your job either. Quit when you have replaced your income..just my opinion

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Jon Patrick

13 years ago

Ten thousand dollars buys a lot of domain names and content, and that's the direction I would go. Websites are like real estate, and you can use them to build lists or market products you create as well as earning revenue from advertising. Just be sure to start slow. There is no reason to rush into anything and blow your savings.

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dualdtmz

13 years ago

Originally Posted by burningdrive

Ten thousand dollars buys a lot of domain names and content, and that's the direction I would go. Websites are like real estate, and you can use them to build lists or market products you create as well as earning revenue from advertising. Just be sure to start slow. There is no reason to rush into anything and blow your savings.

i agree, roughly around 1,000 sites depending if your outsourcing or not. i would do it this way

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ameerulislam10

13 years ago

I don't know how deep your knowledge is in this field. But you can check out Eric holmlund's free lessons from here LESSONS | Eric's Tips (Best for newbies but useful for pros as well).

Mike filsame is also very good in IM field.

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gerstel22

13 years ago

Here's a crazy idea. Keep the $85k/year full time job, and try various techniques on the side during your free time. Once you find the combination of what you really like, which also brings you money then you can scale it up until you are in a position to quit.

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Ordinaryme

13 years ago

Originally Posted by gerstel22

Here's a crazy idea. Keep the $85k/year full time job, and try various techniques on the side during your free time. Once you find the combination of what you really like, which also brings you money then you can scale it up until you are in a position to quit.

I second this option. You could just search and research for a month or two, for starters.

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zudierh

13 years ago

Just to share with my own experience if i am in your shoes.

i will put some portion of that money to learn the basic and advance in business. no matter wether my business is online or offline. the most important part is a knowledge how i 'll running my business.

Then, i 'll find the business model that suit with me. Because i believe not all of us have same ability and interest. But for me, i 'll focus on what type of business that suit with me and most importantly i like to do it and already create a some money.

Then, i 'll find out who are the person that success and the same time they are same type with my business model. This one i 'll put them as my 'role model'.Then i 'll follow them what are they are doing and their advice. Maybe i 'll attend a training if they are organise some training.

Just my own opinion

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frodo77 13 years ago

Join Bring The Fresh, a membership site run by 2 very successful IM'ers who have made millions - Kelly Felix and Mike Long. A very active forum on the inside and private coaching can be arranged from these ethical guys. I just wish I had joined BTF when I started out - it would have saved me a lot of time and money.
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OnlineMarketingSys

13 years ago

And just when you thought you saw the last "help me make moniez on the internets" another one pops up.. Damn

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Rukshan

13 years ago

Don't buy any coaching products until you know the game. You better to start 10 blogs which are targeting Amazon products, Clickbank and adsense. Then outsource some people to add content and build backlinks to make an income. Then analyze blogs to find the working model for you. You will be able to select best blog within couple of months. Then scale working method with those outsourced people.

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frodo77

13 years ago

Originally Posted by blog8491

Don't buy any coaching products until you know the game. You better to start 10 blogs which are targeting Amazon products, Clickbank and adsense. Then outsource some people to add content and build backlinks to make an income. Then analyze blogs to find the working model for you. You will be able to select best blog within couple of months. Then scale working method with those outsourced people.

Sorry but I totally disagree with this advice. What are the best products? How to build an SEO optimised site? What's the competition like? Who to outsource to? What backlinking strategy to use? Its all explained in BTF.

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sbucciarel

Banned 13 years ago

You say you're not a newbie. You've already thrown some money around but have not achieved 100K/yr thus far.

Throwing money around without a plan won't get the results you want. I'd hold onto that money until I knew what I was interested in, what I had the skills to accomplish, and what I needed to get the job done. Then invest whatever you need to accomplish that goal, and honestly, it shouldn't be anywhere close to 10K.

With a job as good as the one you got, I wouldn't dump it until I was making damned good money for a year with IM. There are thousands who would kill to have a job like that and will snatch it up as soon as it's vacant.

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oneplusone

13 years ago

Originally Posted by Enygma44

If you were in my shoes and had the same goal, what would you do?

I would take the advice of Richard, Suzanne and some of the other warriors on this thread.

You can easily go through $10k VERY quickly if you're not careful, you can spend a few thousand dollars on the various IM products out there, and the rest could easily disappear on advertising etc, and if it doesn't work out you'll have no money and no job.

What I would recommend you do is keep your job, and build up your IM business in the meantime.

When you're making $50k/year from IM and what you're doing is clearly working, then quit your job and push on until you reach $100k/year.

The "burn all the bridges" approach is very risky, you'll quickly be under immense pressure.

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Chris Sorrell

13 years ago

Quite simply do the following -

Invest in ezine solo ads - you can target 50k plus people in relevant niches for sometimes as little as $100 - you can build massive, targeted lists in v little time doing this

Create and release your own products - start by selling some plr stuff (under $20) to your list built up through ezines etc -

Promote other people's products to build up 'reputation' in the industry

Ignore any $37 products and just use them as a learning curve on how to market your own stuff

Give the market what it wants - not what you think it wants - use surveymonkey.com to find out what a lot of people want.

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Pinkysoll

Banned 13 years ago

10k might seem like a lot now but it's not that much when you start paying for coaching, domain names, hosting, outsourcing, etc.
You're at the warrior forum and there's a wealth of information to give you an idea about IM and the best approach as well as what to do and what not to do.

Keep your day job for now and start gaining knowledge in your spare time and you can start testing out what you're learning.
There'e a lot of FREE information out there that can have you making money if you're serious about being in biz online.

Internet marketing is a real business and should not be rushed into, you need to develop a business plan and set realistic goals. It takes time to learn and time to earn. Don't be in a hurry or you might be sitting around without a job and no savings.

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sloanjim

13 years ago

forget the coaching

Keep your job for now

Make $500 per month, then $1k a month...when you get to say $5k a month for 4 months+ quit your job...

Offline to buy a bizz making $100k+ p.a. you would have to invest at leasat $150k (if not much more...) and probably 10 hours a day.....

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FBM

Banned 13 years ago

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kalki411 13 years ago

I agree with what most people are saying at this forum.

Keep your Job until you start seeing results.....But in the mean time Go to Flippa.com and Spend your $$$ on a website(s) that is established, ranks well in the SERPS and has consistent XXXX income.

I've learned IM without buying anycoaching, courses, e-books, etc. In 6 months I went from $0.001 a day to $70+ a day. With an investment of about $500.

If I was in your shoes I would scale up my income 20 times over to 1,400 a day. I would do that buy buying a few established sites, outsourcing a bunch of cheap SEO tasks (blog commenting article posting). Starting a PPC campaign.

You have to veiw IM not as a Job, but rather an investment. Veiw everything in terms of ROI. Time, money etc. PPC/ SEO are the highest ROI If you do it right.

Buying a 2K course has a low ROI because that 2K could have been put into a PPC campaign that multiplies your money by 6 every time a person clicks on your ad!

Diversify your income streams (ppc, seo, cpa, cpv, Adsense, amazon, CJ, Clickbank, Affiliates) along with diversifying your niches (health, music, entertainment, politics, video games, fishing, golf)

Build a portfolio. Its an investment. Do millionaires quite their Job because they have a stock portfolio that's worth 10 million? No. They keep working so that they can keep investing.

PS. Don't buy anything...There are no short cuts (besides outsourcing)
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brandony

13 years ago

I'll throw my hat out there also...though you have a ton of great responses already.

Find SOMETHING you are passionate about...you'll find you grow weary if you don't. Money can't overcome your passions most of the time. Once you do that....create an information product around that ...offernd it for $97 and then find bloggers and marketers to do interviews with, etc. Split the proceeds. Sell 4 people per day...or 28 per week, and you're well on your way.

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Daniel F. Lavoie

13 years ago

10k is absolutely nothing...

It will keep you alive only 3-4 months so keep your day job and at the same time get the ball rolling online. You'll have plenty of time to identify your niche market on evenings and test it.

For me, it took me 13 months to get to 6 figure online.

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TycoonRob

13 years ago

Pay me $10K to coach you.

Just kidding obviously, but if you look on Flippa you may be able to find an established site pulling in a decent monthly income. Then tweak it to earn more.

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MarkMOZ

13 years ago

Forget about buying informational products or anything at all, unless it's software you can't do without.

Other than that, here's a way to do it and there's no way you won't be able to pull this off.

Just remember that you'll have to put in lots of work. So let's get started...

First, find around 100-500 different niches (preferable desperate). Take a certain time period for this one, maybe even a week. Make sure that there's plenty of keywords you can target, as well as that there are clickbank products related to them.

After that, register domains for each one of them. Use .com domains, and you'll probably be needing $1000-5000 for this one.

Get some hosting after that and start setting up sites. Monetize them with everything starting from adsense, clickbank and even cpa.

I won't bother you with details, but I've given you the basic outline like you asked for. It's up to you to do it for yourself after that one. If you do this right, there's no doubt that you'll be making a lot more then your current job.

-Mark

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dilnaj

13 years ago

If I were in your shoes I would...
1. Buy War Room Membership (CHECK)
2. Buy BTF Membership ($97)
3. Focus on ONE niche you enjoy and that is profitable, bring that website up to $1000/monthly
4. Build list up with Aweber, iContact, or GetResponse
5. Do affiliate marketing with Clickbank
6. Start creating your own products
7. Outsource the gritty work so you can focus on the ideas and marketing aspects

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mesen

13 years ago

interesting subject and feedback

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bmartinez1234

13 years ago

Don't start buying products until you do a little research first. Getting started building a list is of utmost importance.

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Mike Nikolz

13 years ago

My advises:

1. Make research. Pick a niche. Not the one with a lot of traffic of little competition, but the one with high buying power. Analize Amazon charts for that. - free

2. Buy domain, outsource a good site. - $300

3. Outsource a lot of quality content. - $500

4. Order good linkwheel - of web2.0 and wiki sites. - $800

5. Make some SEO for the whole linkwheel. - $200

6. Start with Adsense.

7. Stop here, do nothing, just watch.

You've spent $1800. Hold on the rest.
After a couple of months you will see what's going on. With new experience you can pick the next niche.

And - best luck!

Thanks

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Enygma44

13 years ago

Hey guys,

Thanks for the feedback! Here's a few things I've noticed:

1) Bring The Fresh membership site seems to be well worth the $$ and is a great place to start building passive-income websites
2) Ezine solo ads seem to be an interesting way to scale a buyers list quickly
3) Pretty much nobody has mentioned coaching as a positive option
4) Nobody has thrown out a single recommended coach

What if I threw in these other two tidbits:

1) I'm a pretty damn good writer and am making around $2k/month online RIGHT NOW from content creation/copywriting services
2) I've bought countless products, read countless reports, and know the ins and outs of IM - so not a NOOB and don't need to start at ground zero

Thoughts? Is everybody truly against coaching? You're telling me there's nobody in THIS THREAD right now who is a repeatable system that can be taught to me? And more than just a WSO - but someone who will work with me until I see RESULTS?

- Aaron

Thanks

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PLEASE HELP - I've got $10K to spend. What's the BEST way to quit my job and do IM FULL-TIME?!

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