I Have $5000 To Invest In IM. Where Would *You* Start?

Micah Medina

12 years ago

Take your money... and create a new product in a less scuzzy niche. Slowly buy solo ads and build a new list.

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PajamaPaychecks 12 years ago

Originally Posted by Micah Medina

Take your money... and create a new product in a less scuzzy niche. Slowly buy solo ads and build a new list.

Ah...I didn't even start an initial list with this one. I definitely want to on my next venture though. I've been reading up on autoresponders, building trust/rapport with your subscriber base, etc.
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jdkesler

12 years ago

Buy a good niche site in an honest niche that has a steady income stream coming in. Think of it in terms of ROI. Buy a niche site that creates $100 to $500 per month. Improve it. Tweak it until it is producing $1000 per month. Save up your money. Lather, Rinse, Repeat.

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PajamaPaychecks

12 years ago

Originally Posted by jdkesler

Buy a good niche site in an honest niche that has a steady income stream coming in. Think of it in terms of ROI. Buy a niche site that creates $100 to $500 per month. Improve it. Tweak it until it is producing $1000 per month. Save up your money. Lather, Rinse, Repeat.

When you say buy a niche site, do you mean buy one that is already up and running...like something listed on Flippa?

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Christopher Fox 12 years ago

I have no advice for you as you are $5000 ahead of me, but,

...seeing desperate people spend their last few dollars on my product thinking it could turn their life around...I can't do it anymore.

Kudos. That is an admirable consideration. Rich people (READ: Non-desperate people) don't buy 'how to get rich' stuff. There are plenty out there, no doubt some of them gurus on this forum, that lack your ethics. The internet has brought late night infomercial cheeseballs to the eyes of many, many more and with the ability to not even have to pay for an infomercial spot, merely 20 bucks for a name and hosting and some spinning software, lots of people have made lots of money doing what you are refusing to continue to do.

The entrance barrier has been lowered for all areas, and the scammers have pounced. IMing about IMing is no doubt a lucrative IM market to get into, but you hit the nail on the head. You are preying upon poor, desperate people and trying to get money they don't have to spend out of them.

I could never do that myself, even though I am one of those poor desperate folks.

That is not all people involved in selling systems, to be sure, and if anyone took offense to this post, well, tough cookies.

Everyone thinks they are an expert, provided they brand themselves that way ...
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One man alone can be pretty dumb sometimes, but for real bona fide stupidity, there ain't nothing can beat teamwork.

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massiveray

12 years ago

Choose a profitable niche that you are interested in, go to 5 related forums and make a post that you are looking for 1 writer, approach the best writers on there and offer them the position for $30 per 1000 word article, at 1 article per week.

Teach them basic on page seo and have them just keep writing.

Get them to put a link to your site in their sigs on the forums.

Write a free gift ebook to build a list, sell either click bank if you're lazy or write your own products, do them 50/50 with 1 of your other writers, and split the revenue with them.

There is more to it, mainly SEO work to help with natural traffic but this is a model I have done twice and has been successful both times in 2 completely separate niches.

The most important thing is to make sure that you write more than your writers so that people associate your name with the site, this way your name will be a selling point for every book, while people can then choose who their favourite writer is and buy your collaboration with them.

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Micah Medina

12 years ago

^ He's talking sense.

Or you could give me the money and I'll do all that hard work for you.

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MSC

12 years ago

Build authority blog with good content, then sell it.

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RonLeroy

12 years ago

Originally Posted by PajamaPaychecks

I know that's not a lot in the grand scheme of things, or maybe it is. You tell me. (That's why I made the post!)

I just wanted to give you some quick background information.

I ventured into making money online earlier this year. I've read a few posts on here and decided my best bet would be to become a Clickbank vendor and try to attract affiliates. So I basically copied the format of some of the higher gravitied sites in a particularly scammy niche and I started my own. (Full disclosure...honesty is the best policy!)

Well, I advertised the site on Clickbank for a month-long run and it garnered some affiliate attention. I started seeing regular sales pretty quickly. I also got bombarded with refunds, naturally, to the tune of around 16%. After talking to a Clickbank "development rep", I found out that my site actually had a strong/low refund rate for that niche, which typically had sites in the 30% refund range!

Even with the high refund rate, and the cost of advertising on Clickbank, I've come away with nearly $5000 profit in one month.

But my conscience has gotten to me. Day in and day out seeing those irate emails calling the site a scam...seeing desperate people spend their last few dollars on my product thinking it could turn their life around...I can't do it anymore. So I decided not to accept any new members, and I will be closing shop.

In fact, I'm not sure I want deal with even being a vendor any more. I'd rather try out the affiliate arena and not deal with customer service hassles for now.

If you were in my situation, how would you shake the etch-a-sketch and start anew?

Would you like to buy my blog, I can sell you it for exactly 5000$. It has great potential.

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sbucciarel

Banned 12 years ago

I would start keeping your money in the bank until you've done the research and you know what you want to do. You're the one who needs to make a plan and implement it. Once you've done that, use what is necessary to act on your plan.

You can blow that $5K but you are not going to get a blueprint for success. You'll end up being disappointed and broke at the same time.

Spend $37 for War Room membership and start studying different techniques for making money until you find the one you're interested in.

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PajamaPaychecks

12 years ago

Originally Posted by sbucciarel

I would start keeping your money in the bank until you've done the research and you know what you want to do. You're the one who needs to make a plan and implement it. Once you've done that, use what is necessary to act on your plan.

You can blow that $5K but you are not going to get a blueprint for success. You'll end up being disappointed and broke at the same time.

Spend $37 for War Room membership and start studying different techniques for making money until you find the one you're interested in.

How do I purchase a membership to the War Room? I went there but there is no link to upgrade.

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sbucciarel Banned 12 years ago

Originally Posted by PajamaPaychecks

How do I purchase a membership to the War Room? I went there but there is no link to upgrade.

http://www.warriorforum.com/payments.php
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- PajamaPaychecks 12 years ago
  
  Originally Posted by sbucciarel
  
  http://www.warriorforum.com/payments.php
  
  Thank you, kindly.
  
  Thanks
  
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dvduval

12 years ago

Make sure you are thinking about the "people" part of this equation. Which people are you going to involve on your path to success? If you don't know those people now, how are you going to meet them?

If you miss this part of the equation, your chances of success are much lower. Never underestimate the power of people. As people start helping you, giving advice, and just thinking about things with you, it makes so much difference!

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PajamaPaychecks

12 years ago

Originally Posted by dvduval

Make sure you are thinking about the "people" part of this equation. Which people are you going to involve on your path to success? If you don't know those people now, how are you going to meet them?

If you miss this part of the equation, your chances of success are much lower. Never underestimate the power of people. As people start helping you, giving advice, and just thinking about things with you, it makes so much difference!

Good advice! I intend to be a lot more involved on the this forum and hopefully be able to network. In the future, I'd like to get to a point where I can provide as much information as a I gather from others.

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Lorenzo Wardell

12 years ago

Hi. PajamaPaychecks,

Can you give more details about how you advertised your site on Clickbank?

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PajamaPaychecks 12 years ago

Originally Posted by Lorenzo Wardell

Hi. PajamaPaychecks,

Can you give more details about how you advertised your site on Clickbank?

You can find more information here:
Advertising - ClickBank
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greatgemsgreatprices

12 years ago

Well I started buying sites with great services that are auto pilot site and growing them some new Adsense sites added this week

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PajamaPaychecks

12 years ago

Originally Posted by greatgemsgreatprices

Well I started buying sites with great services that are auto pilot site and growing them some new Adsense sites added this week

Do you have examples?

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Jill Carpenter

12 years ago

Originally Posted by PajamaPaychecks

In fact, I'm not sure I want deal with even being a vendor any more. I'd rather try out the affiliate arena and not deal with customer service hassles for now.

If you were in my situation, how would you shake the etch-a-sketch and start anew?

Ha! Ok, where to begin.

Well, congrats on getting a product on the market! That is huge for some people. And it sounds as if you've learned a lot from your experiences.

Most people start as an affiliate - and then go to the product (IMO) - but that is not to say that a good income can't be made only from being the affiliate.

Either way, I believe "the list" was mentioned above and that is definitely the component you are missing in the equation.

The other thing I saw mentioned by Suzanne was "finding the right thing to do" (probably a total misquote but wine will make one a bit lazy

)

Being the product ownder is great - and even greater when you have affiliates driving all the traffic for you.

The other thing to consider is when you start to have that kind of success, it is good to re-invest in some outsourcing for others to handle those support issues for you.

I have no definitive answers for you - but I will agree with the mention above for you to get a measly $37 dollar war room membership.

If I were you I'd let things ride for a few more days until I had a better direction idea. If the product is doing well you can sell the site with some proof for some good profits and start over again with something you are a bit more passionate about.

Just the thoughts of a silly blonde with some red wine. :p

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J Bold

12 years ago

Take a while to reflect and think what you want to do.

Then, once you have a better idea, find a solid coach in that niche in the hundreds up to $1000 range who has a looooooooong track record of success. Do your homework on that coach. Don't invest unless you are sure. Spend a lot of time thinking about it.

You'll need the rest of the money for different expenses, of course. But be focused and get help from someone who can really get you there.

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I Have $5000 To Invest In IM. Where Would You Start?

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