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Should I Go For It?

by GarrettLST
21 replies
Hey guys,

Between my 401k and my other investments I have about $35K to get this going. I've already spent $12K just taking courses and paying for things over the past 2 years.

I feel I've got a pretty solid foundation and now I have my product set up along with a members area. I've got an evergreen launch set up as well as people opt in.

My big question is this. I've been a teacher for 5 years and now I want to move to making a living online. As the school year starts I'm no longer employed.

For those of you who have made the transition from full time job to working online, what do you suggest? Should I take the $35K and work from home for a year and reap what could be a huge benefit of more money and working from home?

Or should I just find a 9 to 5 and continue working on this part time in the evenings like I've been doing for 2 years?

Any suggestion?

Garrett
  • Profile picture of the author SUPER Louie
    Hi Garett,

    It seems you have enough money to really do this full time. I think you should take the shot. Many choose to do it part time because they worry about their finances, but in your case, it seems that already have the finances.

    One advice though, I don't think you would spend the entire $35k in Internet Marketing. You will probably only spend $1-2k of that money for hosting, ppc, etc.

    Do it slowly, and don't buy too much info products unless you are committed to them.
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  • Profile picture of the author jimmel196
    Hello. I am very new to internet marketing and have very limited knowledge. From the posts that I have read regarding similar situations it seems as the majority of advise is to work a full time job and do internet marketing part time until your income from IM at least matches your income from your full time job. That 35K could go very quickly if you are paying all your living expenses from that. Just my thoughts. Either way I wish you the best.
    Jimmy
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    • Profile picture of the author highrank
      Hey Garrett,

      Let me be the first to congratulate you on coming this far

      Now you have the basic knowledge you need, plus a relatively HUGE amount of start-up capital for any online ventures you wish to pursue.

      With $35k, I'd guess you are currently in the top 10 wealthiest people on this forum :p

      My advice:

      Don't leave part time work yet, you need to test the waters first. Anyone who tells you to outrite 'go for it' is giving you extremely reckless advice.

      I'll also tell you that 99.9% of IM start out with nothing, and enter this business out of desperation for quick cash.

      You don't need $35k to make a blog, or a review website.

      You should probably look at investing in an established business, or think about creating a fully fledged web based start-up company.

      The best idea I can suggest, is to take a few investment proposals form the Warriors.

      I'm sure thousands of members here have money making ideas, with $0 capital to actually make them happen.

      Anyway, here's to your success!
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      • Profile picture of the author SUPER Louie
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        • Profile picture of the author highrank
          Originally Posted by Louie Sioco View Post

          It's not a total reckless advice. Think about it though, if Garett goes for it, and makes tons of money because he concentrated full time, he wins everything. It's faster to learn something if you do it full time. You only do things part time if you really can't afford to take a risk like that, but apparently, he can.

          However, if he later finds that Internet Marketing isn't for him, he can apply for a new job. Wouldn't that make things simpler? Quitting a job doesn't mean quitting forever and spending all your money at once.

          That's what I meant.

          Just my two cents high rank.
          I wasn't referring to you, so please don't take it personally.

          You said in your post to quit his job, but only spend 1-2k. I'd say this is good advice for a risk taker.

          I said "Anyone who tells you to outrite 'go for it' is giving you extremely reckless advice."

          as in...

          "Yeah quit your job and spend the $35k on an auto-blog"
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  • Profile picture of the author BloggingPro
    I would continue doing this part time until my income replaced my other income, or was at least enough to live off of so that I could then use my newly spare time to increase what was my part time income.

    $12k is an awful lot of money to spend on an IM education in my opinion, thus I would encourage you to not spend anymore money on "learning" what we do. Instead its time to dive in and start making some cash.

    Whether this be affiliate marketing, adsense, CPA, product creation, is really up to you--but once you pick something stick with it until you profit. You have no idea how many months I gave up solid Adsense earnings because I didn't have the patience to see my plan through.

    If I had that much money sitting in a bank account I would implement my mobile website idea in my local area, and go from there.
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    You're going to fail. If you're afraid of failure then you do not belong in the Internet Marketing Business. Period.
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  • Profile picture of the author sbucciarel
    Banned
    With $35 as a backup, I would find at least a part time job to supplement. $35 can be gone in a heartbeat. Only takes a couple of emergencies. Sounds like you have a lot already set up ready to go. A part time job would just provide a little additional security until you are making a full time income from this.
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  • Profile picture of the author GarrettLST
    Thanks for the responses.

    I think the logical choice is for me to find a job and keep plugging away at this. I appreciate the input. I didn't want to do anything crazy, so I thought I would ask for some advice.

    Thanks everyone.

    Garrett
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  • Profile picture of the author uebomoyi
    If you really want to start making some real money online, I would highly suggest you make a sales funnel and start building your list seeing as how that is everyone's number one asset in internet marketing. Sticking to only one course and building your list is definitely the way to go and then hopefully you could quit your nine-to-five in no time. Good luck =)
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  • Profile picture of the author kimjox
    With that money you can start a good IM business and go full time but you should be careful and spend small amounts in some proven blueprints . Good Luck

    Kim
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  • Profile picture of the author ebusinesstutor
    Do you have a business idea? Something unique? And a hungry target audience for it? If not, keep working. If so, work it out in more detail, get a mentor and when your mentor says you are ready, try it.
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    • Profile picture of the author GarrettLST
      Yeah, at this point I've got a full video course in the mental health niche. Already got a sales funnel set up with a launch sequence and separate sublist for affiliate offers. Just got to this point in the past month.
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  • Profile picture of the author Epjustin
    I highly encourage you to get Eben Pagan's Guru Blueprint... Trust me.. This program if you follow it will guarantee your success online.
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  • Profile picture of the author IMWinner
    Think before you make your final decision, there has been advises given to you by fellow warriors here and all of them will really help you. But it is not easy to go full time if you yourself aren't sure yet in the doing the IM business full time. It requires time, commitment and hard work to really make it to this business.
    Although, you have already mentioned in your post that you are earning while still a part time, could you imagine how much will you earn if you render most of your time now online? Just don't spend that money on things that will not really helped you in this business, my suggestion, set something that you really like and want to do here in the IM business, and invest some of that money to generate more money.
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  • Profile picture of the author funkynassau
    I would not have the intestinal fortitude to spend my whole $35k on an online business, but that's just me. I would take the part time job in order to keep bucks coming in while I use the other time developing and promoting my online biz.

    Is there another source of income, like a spouse who is working? Are there kids at home? These things can factor into your decision.

    Whatever you decide, I wish you well!
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  • Profile picture of the author seamusb
    Hi Garret

    I have done it and paid for it in blood, sweat and tears.
    I do not regret it for one moment. I learned to think on my feet.
    But I would not advise anyone to give up their day job unless they have a years salary saved.

    The other thing to think about is your family - if you have dependents then they need to come first. Part time is OK until you have enough money to buy a big mansion for cash and live mortgage free

    Regards

    Seamus

    Originally Posted by GarrettLST View Post

    Or should I just find a 9 to 5 and continue working on this part time in the evenings like I've been doing for 2 years?

    Any suggestion?

    Garrett
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  • Profile picture of the author Kierkegaard
    Originally Posted by GarrettLST View Post

    I've already spent $12K just taking courses and paying for things over the past 2 years.
    This is an enormous amount of money to have spent on courses etc. especially since (a) you have spent 2 years learning and, more importantly, (b) you paid all this money but you don't know the answer to your question.
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    • Profile picture of the author Wiggy0618
      Originally Posted by Kierkegaard View Post

      This is an enormous amount of money to have spent on courses etc. especially since (a) you have spent 2 years learning and, more importantly, (b) you paid all this money but you don't know the answer to your question.
      +eleventy billion

      That twelve grand has bought you a lot of reading, but not nearly enough doing. What you need right now is experience. And as anybody who's ever really sold anything online for any decent amount of time will tell you, it's experience that's the greatest teacher.

      Look at it this way:

      Say you had a dream of being a custom car painter. You'd spent years and $thousands reading about it and such, but had never actually painted a car. Would you quit your job and become a custom car painter full-time?

      Nope.

      Same principle here.
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  • Profile picture of the author Brendon Zahrndt
    Garrett,

    Take your $35K and stuff it in a sock.

    If you've already spent $12K on IM and you're still sitting there with your wallet open having achieved nothing with the courses you've already taken then you're not cut out for this business.

    Don't spend another penny. Get your product launched and learn from it's successes and failures.

    Keep tweaking and testing that product but don't go spending that savings.

    The sharks swimming in these waters enjoy the taste of your blood the best.

    Brendon
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  • Profile picture of the author Vibrant Warrior
    I was in this situation a few years ago. Try to get into part-time employment at the very least. That way you will have a steady injection of income flowing in. Then try offering services such as Backlinking, SEO, Articles, Blogging, Video creation etc through forums such as the Warrior Forum.

    Other Internet Marketing Strategies do work, but what you need is immediate cash to get the boat floating first.

    My SEO services helped me get through the "challenging part" of my venture.
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  • Profile picture of the author jmartinez
    I wouldn't take the plunge until you at least have all the start-up operations going for your online business. Competition analysis, seo strategy, business plan, etc... From your post it looks like you may have this already and if so that's great.

    Test your product enough to know that you will be able to generate your target revenue if you succeed at your traffic goals or number of subscribers. You don't want to guess on this, you want to know from tested results.

    In simple terms, just have a really good tested plan in place so you have a high level of confidence you will succeed before you dive in. Having a great product and following all the best practices is one thing. But, for example, knowing that x number of visitors who searched on a specific keyword converted into y revenue for you, gives you a much clearer picture before you take on the financial risk.
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