49 replies
My long term financial future is in great shape becuase Ill start profiting from 1 business vinture of mine in about a year and another in 4 or so years, both are big money. But right now, I dont have much income at all... Maybe 500 a month.

I Need to make 5k a month as soon as possible.

I have 7k cash.

What would you REALLY do?
#cash
  • Profile picture of the author Kishor Mhaskar
    If I was in your place I will invest some money in Education ( i.e. Training for a business) and invest rest of the money in business expenditure
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    • Profile picture of the author Nightengale
      Originally Posted by mastermind50 View Post

      If I was in your place I will invest some money in Education ( i.e. Training for a business) and invest rest of the money in business expenditure
      What MasterMind 50 said.

      A multi-millionaire mentor of mine said she'd advises spending the bulk of your money on education (courses and coaching) and then building the actual business on a shoestring.

      IM is fairly inexpensive. But so many people (most of the Warriors) are still struggling to make their first dollar. Or maybe they've made a few dollars, but they're unable to scale it up or make consistent income.

      The problem is lack of knowledge and clarity on their business model, niche and target market. (See below.)

      I had $11K this December. As of right now, I just spent the last of it and am down to $0. My expenses:

      1. $7K - 6-mo coaching program with my mentor

      2. $2K -- PLF

      3. $2.5K -- website redesign

      Ok, that's a little over $11K, but I made up the difference. That does not include my travel expenses for the last couple of trips to see my mentor (in Jan. and Feb.).

      I have other small, miscellaneous expenses:

      1. Market Samurai -- one-time fee.

      2. Ongoing expenses for web hosting, domains and my 1 Shopping Cart account and merchant account.

      As you can see, I spent nearly ALL of the $11K on education. Other than my website redesign, NONE went to development or ongoing expenses.

      Like every other Warrior, I can run the business on a shoestring. Where I need help in my business is with guidance.

      I'm still in pre-launch for my company. We haven't even launched yet and I'm already getting new members! Yay!

      Pre-launch is for gaining that momentum so that I can really take off in launch.

      A plugin is a product, NOT a business.

      You need to be CRYSTAL CLEAR about what business you're in: your business model, niche and target market. You also need a well-defined marketing plan and allocate whatever money you don't spend on education to marketing.

      Clarity is a HUGE part of IM success.

      IM is actually pretty simple: you can sell only one of two things:

      1. Products
      2. Services

      That's it!

      And selling products or services online happens in the same basic way for everyone, no matter what they're selling:

      Traffic > Opt-in page > Autoresponder series (or e-zine) > Sales page

      That's it! It's just that simple. (We IMers tend to overcomplicate things.)

      But no matter what your niche is, or whether you're selling a product or a service, do you know what your business model is?

      A business model is the framework or skeleton of your business. Essentially there are three types of online business models:

      1. Membership-based model

      A membership-based business model allows you to build a community of people (your members) who are as passionate about your subject as you are. Your membership fees can be monthly or annual, but either way, you're building recurring, passive income.

      There are a lot of resources and information out there to help you build a membership-based business if you're interested in doing this.

      2. Product-based model

      Selling products allows you to maximize your time and effort by selling items over and over again. This can be hard goods or it can be information products. Information marketing is it's own business model under the product-based model. Information marketing allows you to take your brain to the bank by creating a product ONCE based on what you know and selling it over and over again.

      Affiliate marketing falls under both models. You can choose to market either products or services as an affiliate.

      3. Service-based model

      Selling services can be great for 1) generating quick cash (as in the case of article writing or video producing) and 2) establishing your expertise and getting testimonials.

      However, in the long run, your goal should be to offer services at a PREMIUM. The biggest advantage of IM is LEVERAGE. You're able to leverage your time, money and expertise exponentially online. We all have just 24 hours each day. Time to get ruthless about what you expect for those hours you spend in IM each day. Expect more of yourself and more from your business friends, clients, partners, etc.

      What results are you getting for those hours you spend online each day? Ultimately, your services should be at the bottom of your funnel and cost the most since they involve your time and personal attention. (We all have a limited amount of time each day.)

      The fun (and confusion) comes in with all of the endless mix-and-match possibilities of the above models. If you're just starting or still struggling to make money, keep it simple:

      Pick just ONE!

      1. Pick ONE niche. (Something you're interested in and know something about.)

      2. Pick ONE target market for your product or service. (Who will buy what you're offering? The more specific you are, the more you narrow it down, the more successful you'll be.)

      3. Pick ONE business model.

      Now that you're clear about what business you're in, FOCUS! (And stop buying any info not related to your niche and target market, period!)

      F -- Follow
      O -- One
      C -- Course
      U -- Until
      S -- Successful

      And remember: build a list, Build a List, BUILD A LIST!

      In IM, it's easy to put the cart before the horse. Take a deep breath, step back and consider what type of business you're REALLY want. Don't worry about getting traffic or buying that expensive traffic product until you know 1) what your business model is, 2) what niche you're in and 3) WHO your target market is!

      Successful business people will tell you that MARKETING is more than half the effort that's needed for success anyway. So pick a niche, target market and business model. Then spend most of your time and effort marketing it.

      If you DON'T have a solid plan or system, THAT'S when it's hard. A good system will shave YEARS (and save you big $$$) off of your learning curve

      That's why I recommend investing in at least one good, comprehensive IM course (or mentor who will give you such a system) instead of jumping from one $37 e-book to the next. A lot of people here complain about not being able to make any money. But neither are they willing to invest in their business. (Buying a random bunch of $37 e-books doesn't count.)

      The best thing I ever did was invest in a comprehensive IM course aimed at REAL business owners, not just other IM wannabes. Yes it was $1500. (It's no longer available.) But it was truly some of the best A-Z IM info I ever bought. Everything else I've learned (from the $37 e-books) since has simply been plugged into this system.

      Get a solid plan or system and then work the plan!

      Hope this helps!

      Michelle
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  • Profile picture of the author MohawkJoe
    You can buy an entire business with this kind of money. Not necessarily a website but a real business generating some type of income that can eventually net you more profits in the long run.

    You can also buy websites which are making money on places like flippa, etc. but this is very risky and you may end up losing the $7k

    I say go with small smarter investments, its been my experience at least
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  • Profile picture of the author Oliver Williams
    I would consider CPA or product creation or some other direct marketing based project.
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  • Profile picture of the author BloggingPro
    Honestly...

    If I had 7K lying around I would fund a small mobile video game for android and iOS devices.
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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 ErikNilsson
    Honestly I will play poker If you have time Create Some products/plugins if you don't have time then JV with some one who have skills and tools with 0$.
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  • Profile picture of the author Tenzho
    You can have everything outsourced for you. Or you can buy a business straight away.
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  • Profile picture of the author robie
    Go to flippa and buy a well established website. Find the niche that I really like.
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  • Profile picture of the author IMWarrior0
    Create a Unique product to sell then reap the benefits. good Luck
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  • Profile picture of the author Lee Murray
    I'd do what I'm doing now, but I'd scale the crap out of it.

    1. Set up (and split test) a winning squeeze page.
    2. Set up an amazing sales funnel that offsets all advertising costs.
    3. Load up a great autoresponder series that both teaches and pitches.
    4. Promote continuity programs.
    5. Use that $7000 to join the Directory of Ezines and buy a crapload of solo ads.
    6. Spend a week on the beach in Mexico.

    Snap.
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  • Profile picture of the author BXPS
    Create your own product or buy an established site from flippa.
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  • Profile picture of the author Gerald Arno
    Banned
    The best thing you can do is invest into improving yourself.

    What you should do specifically in terms of your business depends on your strengths and what you have passion for.

    The good point is that you have money to invest which most people have not when they start of.

    If you have money, leverage is no problem because you can leverage your money. Invest into courses that teach proven system models, consider hiring a coach, invest into books, etc.

    Improving yourself and your business is a journey that should never end. The better you become at what you do, the more money you will make.
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  • Profile picture of the author daddykool
    With 7k you could build a JP or CPA business bringing in 10k a month within a year... you just need to choose/research the niche 100%

    Look for what will be happening in 3-6 months time in the IM industry, not now, that way you will not loose you $ by buying outdated crap that will never make a buck!
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  • Profile picture of the author brettb
    I'm in a similar situation. I've been buying sites through the websites for sale section. One niche site I've bought is looking magnificent for the price, but I'll report back once I gain possession of it.

    Forget Flippa, I see nothing but overpriced junk (some stuff is good, but it goes for $$$$$).

    Also remember to invest some digital assets in real assets - stocks, bonds, property.
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    • Profile picture of the author rhinocl
      You are not ready to spend it. If you were you would KNOW what you want to do with it. Spend $500 at most buying a few courses and tools and compare various opportunities. Then you will still have money to work with when you are ready. Your need to have an income now does not make you ready to spend it all now.
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  • Profile picture of the author Charanjit
    Buy your self war room membership, you do not know it yet I just saved you at least 10K worth of money and time.
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    Want to learn more, read read and read more. http://www.mannusblog.com/index.php/...e-optimisation

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  • Profile picture of the author WarriorDiscount
    Create a great product and then launch it in Warrior Special Offer
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  • Profile picture of the author gruss
    There are lots of good ideas here.
    Mine might sound a little cliché, but sit down, think hard, find your passion and you will probably find your future and it doesn’t need to be online.
    If you like doing stuff outdoors, you might find a niche that is of interest to you, create a product in that niche, setup your marketing website and promote the living daylights out of it.
    For a novice, this can be challenging because of the things you will either need to do or find someone to do for you.
    Watch out for sharks, because the wrong choices will help you eat your money in no time.
    Based on doing something outdoors, you might find that it would be less risky for you to start or buy a small business that lets you work out doors, maybe mowing lawns, cleaning windows for businesses, gardening, etc (lots of choices out there).
    This outdoors thing is just an example, go find your own passion and dream.
    $7,000 is not a lot of money and if you are going to gamble it on going into business, make sure you do something you’re passionate about.
    Commit to a path, layout a plan, know the cost of each step up front and then follow every step to completion.
    Research and get price commitments up front for everything and anyone you get to help you (if you outsource anything).
    Budget for over runs in costs.
    I have outsourced work for over five years and I still get a bum deal occasionally and need to pay someone else to do it again for me.
    Watch out for the shiny bright objects that fly around here, because they can become dream killers.
    Choose one path, stay on your path firmly and follow it passionately to completion.
    Good luck with whatever you do.
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  • Profile picture of the author Cataclysm1987
    I DO have around 7k lying around. And I'm making a membership website.
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    No signature here today!

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  • Profile picture of the author adrwcav
    I'm building a membership site too. Currently building a pre launch list. Will launch when list hits 3000
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  • Profile picture of the author Genycis
    That'd be one of the best suggestions especially since you have sufficient money for it, is to do a membership site and get traffic to it... if you have great funds, go for two sites if it works out that way. Great valuable content, learning through videos and/or ebooks, etc. will build more interested visitors and the monthly payments will eventually add up. Just imagine if you opened up a $12.95 per member site and got 100 loyal customers a month: That's $1295.00 a month off of that site. Or start on tiers, first 50 get a $6.95 membership, next 50 a $9.95 membership, and so on until you cap at $21.95 or something of that nature. Many different ways to go about it.

    I hope to get one done down the line, once I can make some videos and presets and other things that would help my niche of customers. Not trying to tackle on way more tasks than I have at the moment though. Plus I need to build up some more money as well. Best of success.
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    Genycis
    -- Absorbing & implementing. Need hip hop beats for your business needs? Hit me up!
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  • Profile picture of the author IMSince2003
    Whatever you do, don't just throw that money around without a plan. Getting to $5,000/month with just $7,000 is not going to be easy, trust me. If your credit is good, you can buy a franchise like a "Subway" store. I know someone who has 3 and is doing great. He also is involved in IM.
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  • Profile picture of the author adrwcav
    @Genyci

    I'm actually going to be charging $50 per month for my site.
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  • Profile picture of the author NACAdam
    put up a compelling offer and use solo ad traffic ( but there is a method to this that works) typically people lose their ass on paid traffic because they flat out don't really know how to write copy. They aren't lining up the right ad with the right audience. Most people lose money on Solo Ads because they choose the wrong Solo Ad Vendor ... But yeah that is the best way to invest I think PM if you would like to know more about the method
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  • Profile picture of the author 20092009
    Thanks so much for all the replies everyone... I actually have a lot of experience with internet marketing, CPA mostly. And owned off line business. The reason why I ask this is because I highly value new ideas. I dont know what I dont know, and I want to know what I dont know!

    Buying a real offline business sounds great but not do able with only 7k. Maybe a coffee stand or something and Im not interested in that because it ends up just being a low paying job and not scalable.

    Blogging Pro...
    "Honestly...

    If I had 7K lying around I would fund a small mobile video game for android and iOS devices. "
    Very interesting... is this what you do? I have always wondered about this but dont know how to get in the door. Could you PM me?

    I like the sound of something in direct marketing aswell Oliver Williams... But I dont know that well enough to spend money testing things that could be terrible! It could take months before I strike gold!

    I like the sound of the Membership websites everyone... I have always like the sound of that of course. But what in the world do I offer people? I am a successful forex trader, but there are hundreds of places they could go to get forex services. Im a very good golfer, but dont really know how to offer something in golf that people would pay for... As far as lessons or somthing I am not certified. I have had a lot of success in offline business but I dont know if that experience is something I could profit from through a membership website.

    Any member ship website experts out there? Or could we brain storm the membership website idea a bit? How do you make it work?
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  • Profile picture of the author Eduard Stinga
    If you have no experience in IM, it will be very hard (not impossible) to reach $5k/month. Some people have been trying it for years and are yet to make $1k/month. Just something to consider when making expectations.
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    • Profile picture of the author PattC
      Lots of good suggestions. I like the video game investment, since that is a hot market, and definitely you could outsource things like website design, article writing, etc. Don't spend it all so you have something to fall back on if things are slow at first.
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    • Profile picture of the author 20092009
      Originally Posted by Eduard Stinga View Post

      If you have no experience in IM, it will be very hard (not impossible) to reach $5k/month. Some people have been trying it for years and are yet to make $1k/month. Just something to consider when making expectations.

      I think your right Eduard.

      I have alot of experience with internet marketing. but that was years ago. In cpa. I gave it up. 100%. Now Im looking at what some other roads may be.

      I have a deal that I will be making money in but I will not start getting that income for a year. So, of course I am thinking more about the NOW then the FUTURE because the future is set.
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      • Profile picture of the author Jit Lim
        Originally Posted by 20092009 View Post

        I think your right Eduard.

        I have alot of experience with internet marketing. but that was years ago. In cpa. I gave it up. 100%. Now Im looking at what some other roads may be.

        I have a deal that I will be making money in but I will not start getting that income for a year. So, of course I am thinking more about the NOW then the FUTURE because the future is set.
        This is completely off IM. But with $7K, I had a friend who used it as a deposit for a real estate, flicked it over within 60 days and made over 300% profit. He did that a few times and you get the picture. However you need to do your due diligence first.
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  • Profile picture of the author paul_1
    Sure you can do a lot of stuff with the 7K! but please bear in mind that it sometimes take time to show return even if you have all the funds. The thing here is don't lose focus if something won't go the way as planned. Just a piece of advice.
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  • Profile picture of the author TryBPO
    While I think the OP was sincere in his approach, he later goes on to say that he has lots of experience in IM...but still is only bringing in $500/month. I/we bring in WAY more than that monthly and I'd still say I'm pretty inexperienced when it comes to LOTS of things. Not to say that experience all comes down to how much you're making...but you learn quite different lessons at one income stage compared to another...

    I don't think I can give you a great way to spend your $7,000...and definitely not a way that will quickly turn into 5K/month in income for you. I see that lots of people gave you advice, but most of it seems to be telling you what they "think" they would do if THEY had 7K to invest...not necessarily what YOU should do. Difficult, I guess, because they don't know you very well.

    You're probably better off brainstorming with those that know you well. They're going to be more in-tune with who you are, what your skillsets are, etc. Investing in yourself seems to be pretty good advice but, again, the people closest to you might have the best idea where you can apply yourself successfully.
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  • Profile picture of the author Ovilash
    Originally Posted by 20092009 View Post

    My long term financial future is in great shape becuase Ill start profiting from 1 business vinture of mine in about a year and another in 4 or so years, both are big money. But right now, I dont have much income at all... Maybe 500 a month.

    I Need to make 5k a month as soon as possible.

    I have 7k cash.

    What would you REALLY do?
    I would start a new venture like aggro firm.
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    • Profile picture of the author ravi39501
      Originally Posted by Ovilash View Post

      I would start a new venture like aggro firm.
      that is great idea
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  • Profile picture of the author ravi39501
    Originally Posted by 20092009 View Post

    My long term financial future is in great shape becuase Ill start profiting from 1 business vinture of mine in about a year and another in 4 or so years, both are big money. But right now, I dont have much income at all... Maybe 500 a month.

    I Need to make 5k a month as soon as possible.

    I have 7k cash.

    What would you REALLY do?
    great idea . i suggest you to start a advertizing company which help to you for achieving your goal.
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  • Profile picture of the author ravi39501
    i recently launched my website Buy Washington state products . my website provides wide variety of products like wine, jewellery, artisan cheese, Art and craft , distileries, specialty foods and lots more. it is washington best product selling website.
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  • Profile picture of the author Randall Magwood
    You should look into ebay. Millions of people on there everyday looking to buy something.
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  • I think, you should not invest the entire amount in to a single project. Break it down to 3-4 segments and try explore several ways to increase your income.

    You can use a little amount to learn any new skill that would be beneficial for you in the long run and save you lots of money even in your business.

    Thanks.
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    http://dataaceinfosolution.com/
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  • Profile picture of the author James B
    Start learning how to day trade. Setup on your own ameritrade account as a broker, pick out couple stocks and learn how to read stocks.

    Example: EPS- earnings per share

    Remember, it takes 3 seconds to sell a stock. But, how long does it take to sell a house? Car? Etc.
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  • Profile picture of the author BoDarville
    Save it.

    Or listen to this guy ... or not.
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  • Profile picture of the author marketwarrior06
    Banned
    Spend some of the money in learning. Like buying guides, Pdfs and other stuffs . then start investing the rest in marketing or other things.
    thanks
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  • Profile picture of the author 100k
    Contact me with your skype.

    If you want to set up a website, target 10 keywords that each get a good amount of traffic and rank for all 10 keywords and have the site make $500-$1K per month that after 3 months can be sold for 10 times the monthly earnings.

    HollAAAAAA
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    Rent this space.

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  • Profile picture of the author gojiberryman
    Originally Posted by 20092009 View Post

    My long term financial future is in great shape becuase Ill start profiting from 1 business vinture of mine in about a year and another in 4 or so years, both are big money. But right now, I dont have much income at all... Maybe 500 a month.

    I Need to make 5k a month as soon as possible.

    I have 7k cash.

    What would you REALLY do?
    There are three steps that I would recommend for you. First option would be for you to build your list of subscribers to about 1k-5k using twitter marketing, forum marketing, and paid advertising. Then what you want to do is sign up for the PRO account @ this website and the Platinum account here to further build your list. And lastly you are going to want to advertise to that list and get FREE money and prizes from this website. If you follow these steps one at a time, you had better hope your bank account won't explode.
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  • Profile picture of the author Lyfe Lyte
    Your getting replies from people who have obviously not made any serious money before...I can tell by their responses...do disrespect to them...people just throwing out random ideas...

    You need to figure out what interests you the most..and master that area....become an expert at it...don't stop until you get it to work...there are so many ways to make huge amounts of money online..hmmm wonder how I know :0

    Don't let anyone tell you..no this doesn't work or no you can't make $5k a month our of $7k...that's crap....you determine what you make...anything is possible...

    Figure out the area you want to go in...the create a blueprint for it....you can go from 0 to half a million in a year...starting with nothing...ask me how I know.... so $700 or $7,000 all the doors are open to you...what one do you want to take?
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  • Profile picture of the author Dave90210
    Go on Fiverr find out what webmaster services people are offering. Make contacts and put together a service from your contacts from Fiverr.

    Pay for a classified ad on Warrior forum and reap the rewards.

    You could also do some research on niches that have low competition, build a review site for each, pay someone to do SEO, generate revenue and repeat. Build a network of profitable sites and let the money grow.

    You can also find something your passionate about and build a website around that, use the money for advertising and article marketing to build traffic
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  • Profile picture of the author yankie
    Invest on knowledge...
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