31 replies
If you had $5000 to start an online business where would you begin? What would you do with the 5k?
#invest
  • Profile picture of the author CurtisN
    I would pay part of my tuition for the next school year and then affiliate and bum market my way to riches. My part-time job can pay for Aweber, hosting, new domains, and any other things I'd happen to need for my affiliate and bum marketing efforts.
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    Curtis Ng (blog) - Product Launch Manager
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  • Profile picture of the author Alminc
    I would purchase 300-400 original keyword optimized articles
    from high quality writer. Then I would build 30-40 websites and
    sell them for $300 each.
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    No links :)
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  • Profile picture of the author TheRichJerksNet
    Well I could tell you but then that would give away a million dollar idea ..lol There are certain things that are required by many and needed by many but the solution that does exist is either crappy or not very helpful to many.

    James
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  • Profile picture of the author indexphp
    Research your keywords for your market FULLY.... build a site and start SEO'ing it... then fire up a targeted PPC campaign and build a list out of it.
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  • Profile picture of the author Derek Pankaew
    I'd refrain from using the money until you're really sure you know what you're doing.

    You can very quickly burn through 5K unless you know what you're doing. I'd rather take some time to learn the ropes until I know my 5K will be well used.
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    • Profile picture of the author Nathan Hangen
      Originally Posted by Derek Pankaew View Post

      I'd refrain from using the money until you're really sure you know what you're doing.

      You can very quickly burn through 5K unless you know what you're doing. I'd rather take some time to learn the ropes until I know my 5K will be well used.

      I agree completely. First time I entered a business I didn't understand with money to invest, I blew it all and had nothing to show for it.

      Now a days, I know better. I made more money on a shoestring than I've made with 20k startup.
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  • Profile picture of the author RobP
    Like Alminc's and Derek's ideas!!
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    • Profile picture of the author Capone
      Save the 5k and start with free traffic building methods. Only spend on what you really need...domains, software etc.
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  • Profile picture of the author Loren Woirhaye
    Get a skill. Get some sales training. Generate leads
    and sell stuff to them.

    If you learn something about selling it will be so
    much easier for you to write persuasive copy and ads
    it's not even funny - yet a lot of folks jump into business
    with no idea that you do have to sell to make money.
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  • Profile picture of the author Matt Bard
    Create or have a pro create for you a free report, then ebook at around $9.95 to $19.95, another higher priced product $37 to $67 DVD with workbook,

    Pay for quality writers for your opt-in (where you give away the free report), follow-up emails, sales page for first product, get better writer for next sales page for your DVD and workbook (this page will get physical home shipping address make it a good one)

    Put in motion work on traffic and look for a JV partner that has more expensive back ends.

    You will make your money back in no time and then start another project.
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  • Profile picture of the author reliance77
    I would hire a mentor, knowledgeable in Internet Marketing to increase my $5000.00. It wouldn't take $5000.00, to learn one or even two affiliate programs.

    I hope you'll find what you are looking for. I'm learning now and I have spent so far $1500.00. I'm looking now to bring in income with the website I'm submitting this week.
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  • Profile picture of the author Dan Ambrose
    Originally Posted by Iamnotherenow View Post

    If you had $5000 to start an online business where would you begin? What would you do with the 5k?
    I would donate all the money to MM365 and let karma take its toll, but hey - maybe that's me

    In all seriousness, I would definately consider outsourcing and getting others to do all the hard work and you sit there making profit on your ideas.

    Not saying where you are at with regards to experience, but I've seen it happen so many times where newbies invest money in something and hoping money will come rolling in.

    It doesn't happen like that.

    Yes, you could pay to learn from others, but I think the best thing to do is get an idea together and then pay others to do all the work (write articles, emails, put websites together etc,) you can then learn from their services.

    Hope this helps,

    Daniel
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  • Profile picture of the author Christie Love
    I'd say to get a mentor also. It's so easy to blow $5k in IM if you don't have a plan solid plan. What you are hearing here are only the basics. There's a lot more that goes in to the process of actually developing each of these ideas in order for you to see ROI.

    So, before you jump into anything too soon. Find someone who can help you so you're not -$5,000.
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  • Profile picture of the author TheRichJerksNet
    Daniel almost hit the nail on the head... It is better to invest the money into an idea that is already proven that people want and will pay for. Pay for the site development.

    Why pay for others to teach you when you could very well have a site that would produce you an income on almost auto-pilot because the market is begging for the idea.

    This does depend upon the idea and ofcourse who you hire to develop the site..

    James
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  • Profile picture of the author magicash
    Find someone you know is making a nice full time income doing something online you would love to be able to do. Offer him 3k to completely take you under his/her wing until you are duplicating their success. Use other 2k to pay for sites, tools, ect.

    Of course the tricky part is finding that someone, separating them from the posers.
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  • Profile picture of the author reliance77
    I'm learning Internet Marketing. My mentor is teaching me how to flip websites and I should be flipping my first site this week. There are other programs he will teach me from his eight week sessions.

    The eight week session did not cost me $5000.00 and I hope to make many times $5000.00.

    My tutor is trust worthy and after many years of trying IM, I have finally found someone who has gone through what I have been experiencing and truly want to pay it forward. Very refreshing, don't you think?
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  • Profile picture of the author thebrokenbox
    Take a portion of it and invest in a domain, hosting, and some articles. Put up a blog and build a list. Use some more money to get articles to send out to the list. Also get a writer to write up an ebook to give away to the list. Make sales via the emails I send to the list. Use the remaining money and put it in the bank to collect interest while I wait for more money.
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  • Profile picture of the author tscott_87
    Find something you know that works (there are so many ways... affiliate marketing, blogging, adsense, PPC, whatever...). Find cheap labor (I like scriptlance.com personally). Pay people to do the work for you. Find which ones return more than you pay. Do more of that. Cut the stuff that doesn't. Hire more people to do the stuff that works. Keep doing it over and over and over.
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    • Profile picture of the author BrashImpact
      Buy Scott Millions WSO offer for Offline gold, get the upsell, and go offline.

      Spend the balance on acquiring offilne clients, and spending the rest on a coach
      who can walk you through getting started in the offline arena.

      We are doing huge business offline.

      Regards,
      Robert Nelson
      Signature

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  • Profile picture of the author James Foster
    I would spend what I needed to research a niche and create a product - then spend the rest on something or someone that could teach me how to launch the product to a large targeted audience.
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    • I agree with getting a good mentor and becoming part of a community. You really need the support of a community and mentors who can help guide you past the learning curve as well as provide different networking opportunities to you.

      Then do some thorough keyword research on a hot niche or micro niche.

      Then do some ppc to test some campaigns to see if its profitable after learning a lot about ppc.

      then optimize for the highest converting keywords and get a wordpress blog with a sweet theme put together on it from someone from rentacoder, scriptlance etc.
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  • Profile picture of the author PRandContent
    Just in case you'll heed the pieces of advice here pertaining to outsourcing and articles and press releases, don't hesitate to contact me
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  • Profile picture of the author mmurtha
    Hey Iamnotherenow,

    If you are already making "Big money" as your sig file claims your WSO does, you already know how to make money correct? If this is the case, move on to something bigger and better that will enhance your business by reinvesting in it.

    Or, if you aren't making what you claim, I'd either tuck that 5K away for now and use what I made in that WSO of yours to invest back inot your business so you can take it to the next level.

    If you have any outstanding bills, pay them off first, so you are out of debt. This is the time to be thinking of your better interest like your family, home, car, etc ... If you don't have any debt, tuck that away because you may need it at a later date.
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  • Profile picture of the author TheMagicShow
    I would save that 5ks till you have good idea on what you want to do, that amount can get spent rather qickly. Why not spend a little of that amount and purchase a few domains, get webhosting, get signed up with aweber for one year.

    After purchasing what was mentioned above, next Invest into a membership site or software that helps you do competitive analysis, do tons of market research and then start building your lists in different niches, all of this should not cost you more than $300-$500.

    Cheers,
    Magic
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    " You can either give a man a fish and feed him for a day OR teach him how to catch a fish and it will feed him for a lifetime"

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  • Profile picture of the author e-genius
    Try starting with ppc. If you find a profitabe niche, you could be ending up as a millionair. Just market your affiliate sites and you'll be ready to earn massive cash.
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    "If we could sell our experiences for what they cost us, we'd all be millionaires."

    http://www.startgreatlife.com
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  • Profile picture of the author Harly1001
    For sure, I will create my own product and start selling online
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  • Profile picture of the author johnmags
    get an advance training on what you love to do, that's one investment you will never lose and will never regret. Even if something bad will happen to you in the future, as long as you already have that advanced skill, you can always bounce back. That's one way to secure yourself in the future.
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    Are you looking for a Professional Content Writer
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  • Profile picture of the author matthewc
    either try playing the PPC ads ---> CPA ads game or else just buy an established website which is already generating a monthly income...
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  • Profile picture of the author ContentIn48Hours
    Maybe you could pay back some of the money from the numerous people who you ripped off with your WSO and a few other things. Just an idea.
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