Spending money to make more money.

12 replies
I just saw this post here. http://www.warriorforum.com/main-int...im-making.html

I think, correct me if I'm wrong, I've seen such similar posts for many times. And I keep asking myself this -- why most people do not spend money to make money?

I mean, we can spend money to 'buy your way into' exclusive customer-only club. From there onwards, we can network with potential buyers and sell something they already want.

The point is, I always spend money with an intention to make money. Not just to satisfy canal desire such as curiosity, and greed. I spend money, big or small, with an intention to make money from the sellers

Hardi
#make #money #spending
  • Profile picture of the author stefanjames
    Right you are. If i'm spending any money upfront the intention is to return make a profit. At first I was scared to do this but now I'll spend on what I know will bring money back so it all works out.
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  • Profile picture of the author jayden.fellze
    It is how you invest wisely. You should know where your money is going to, after all its a hard earned money.
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  • Profile picture of the author nicholasb
    when I started out I didn't have money to invest, but I did ok, now I do invest money to do bigger and better things, like set up offline businesses and purchasing rental properties,, investing money to make it work for you is the key to true wealth and success
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  • Profile picture of the author aparadekto
    Depends on the field, investing for expansion is a forte to a lot of people.
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  • Profile picture of the author Tyrus Antas
    People, specially those who are just starting out, value more what they already have than what they might gain in the future by investing a little money here and there. They're still thinking with a "scarcity mindset".

    Tyrus
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    • Profile picture of the author Hardi Wijaya
      Originally Posted by Tyrus Antas View Post

      People, specially those who are just starting out, value more what they already have than what they might gain in the future by investing a little money here and there. They're still thinking with a "scarcity mindset".

      Tyrus
      Exactly that's what I think of this group of people. This group's argument is correct -- but just part of it.

      It's true that we don't need lots of money to make money. But we still need to know the monetary level in order to gauge the spending power of potential customers.

      What I suggesting here isn't about spending 'big' money. This about about relativity.

      For example, most people won't spend 99 bucks for a report. They would fork out just $7 for it. But certain people would throw in 99 bucks because they value the report in different perspective!

      And what if the seller of the report also offers 'customer-only' discussion forum. Now, isn't it wise to spend 99 bucks to get into the access so as to fish out potential buyers?

      It's all about the perception and buying nature of consumers. I hope Warriors would see the logic in this.



      Hardi
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  • Profile picture of the author MisterMunch
    It is so important to spend money to make money. The last week I have read both "Rich Dad, Poor Dad" and "The richest man in babylon". They both speek the same message. (both are available as pdf online)

    First you need to work to get your first bucks. Then you reinvest those bucks into things that will continue to bring in money in your future.

    For most people, the money you make today is gone in 6 month if not earlier. Even though we make extra money online, we spend those on extra stuff, that we often forget about.

    Instead you should spend those extra cash on things you know will generate extra traffic to your money making blog or website. If you spend the 300 bucks you made in July on 50 new articles, do you not think that these articles will generate more than 1 dollar together each day, ending up making you 365 dollars more the next year.That is 65 dollars profit. Probably more if you are not the most unlucky guy in the world. Year 2 is all profit as well.

    You do not have to spend all, but you should find a percentage you are comfortable with. If you find something that work you can expand the percentage.

    In adition or instead you should also think about investing in offline stuff (Not Offline IM, but stocks, bounds, appartments, stuff you can sell, stuff you can rent out, building an offline store or business, hire assistants) that will bring you profit in the future. Most perferably resuidal income, but a good profit is also good. You can also spend your extra money on things that increases in value.

    Other nice things to do with the money you make is to spend on cutting your monthly expences. Pay down your credit card debth, or on you house or car debth, buy a training equipment and quit your gym.

    Personally I was 30 minutes ago in the bank cashing out 2 clickbank checks on a total of 1300 bucks (!!!!). A very beautifull friend of mine from high school was sitting behind the counters asking me if I had won on poker. Her face lighted up when I told her I was building my own business.

    As much as I want to buy myself a 50 inch TV, I am going for the articles instad. Web 2.0 properties will give me extra traffic and link juice enough to increase those 1300 bucks to maybe 1500 or 2000 two months from now. I know, because that is how I made those 1300 in the first place. I do not need a TV now anyways as I have to spending my free time posting these articles to the different properties online.

    Do not be afraid to spend your extra cash on things that will bring you more extra cash. Rather spend your extra cash on growing your monthly income and your online and offline properties and wealth.
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  • Profile picture of the author Hardi Wijaya
    Thanks for the respond.

    It'd be very interesting to spend money only for the purpose of monetary gain. Let go the need to learn more by buying info staffs. You may think you need it... but you may realize that it's a waste in the end. This IM forum already has everything we need. Instead, spend money, network with fellow buyers, and spot out your potential customers and/or business associates. That's the crux.

    There're tons of examples displayed by seasoned warriors. For example, I heard of a buzz created by warrior in a professional copywriting forum. And this forum is for course owners only

    What about other fields such as non-info product industries?

    Here's my personal experience that I never expected. I love the sea, but I just don't have the love for deep sea fishing. However, I signed up for an expensive membership because I could have the opportunity to travel around the world for 12 exotic fishing spots a year, which is much cheaper than air fare tickets.

    One of the members happens to be a VP for company that sells fishing accessories. Coincidence? I don't think so



    Hardi
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    • Profile picture of the author Joshua.E1
      Well I must say that everything we do, we do it for a purpose, and I do it expecting for Return Of Investment.

      Another thing is that the words that we use "spend" to make money, it should be invest to make money.

      Spend is an attitude that it will not have any return in profit, whereas invest is that you expect a return of profit.

      Joshua.E
      Website Building Tips For Beginners
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  • Profile picture of the author MisterMunch
    It is important to know that Knowledge is worth more than money.

    However, knowledge is worth nothing if not put to action.

    If you have bouth a couple of eBooks on something in the IM niche that interrests you, then you have to consider if this is a business plan you like to work with.

    If it is then you only need to buy info products that increases your knowledge in your business model. If you are a bum marketer, get some more knowledge on how to increase ranking for your articles, and increase the click through rate and buyer mode from those articles.

    Do not buy (or waste time reading) books about blogging, ppc, automatic ebay stores, the next secret to super traffic. When you have build a solid income from article marketing/bum marketing, then you can expand into new ways of making money.

    Instead spend your cash on articles. Find a nice provider of articles that write good content that sells, and stick to him. As you find other ways to increase the traffic to your articles, spend money on simplifying this task.

    Munch
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