$5, $50, $500 - Why not $500,000?

by ckbank
38 replies
Hi everyone,

I have a straightforward question. Why not thousands of dollars? I mean most of us on this board want to make a few bucks, but while keeping it realistic, can't we focus on making tens of thousands or even hundreds of thousands? If you say yes, it is possible, what's the most realistic way to make that much money online? Serious answers only please.
#$50 #$500
  • Profile picture of the author BloggingPro
    The most realistic way to make hundreds of thousands of dollars online?

    Lists coupled with a strong affiliate program for each and EVERY one of your launches.

    That means selling your own products. Think big here. Your not targeting the WSO section. Your targeting millions of people through your own marketing efforts coupled with your affiliate partners.

    BP
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    • Profile picture of the author WillR
      Originally Posted by BloggingPro View Post

      The most realistic way to make hundreds of thousands of dollars online?

      Lists coupled with a strong affiliate program for each and EVERY one of your launches.

      That means selling your own products. Think big here. Your not targeting the WSO section. Your targeting millions of people through your own marketing efforts coupled with your affiliate partners.

      BP
      I agree with this. If you are an affiliate you can make nice money but things are much more powerful when you become the product creator and you have the affiliates working for you. Then you create another products, and another... and another.

      As the OP stated the only real difference between $500 and $500,000 is a few zeros. If you can make $5,000 then you can make $500,000. It just means doing a lot more of what IS working and a lot less of what is NOT working.
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    • Profile picture of the author fedor50
      Originally Posted by BloggingPro View Post

      The most realistic way to make hundreds of thousands of dollars online?

      Lists coupled with a strong affiliate program for each and EVERY one of your launches.

      That means selling your own products. Think big here. Your not targeting the WSO section. Your targeting millions of people through your own marketing efforts coupled with your affiliate partners.

      BP
      This post right here. Having and selling your own product is the most fastest and realistic way to make big money fast. Then focus on finding a hungry niche and offering a solution to people's problems. Doing that will make you money.
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  • Profile picture of the author Jake Moore
    You have to own a great product that everyone wants and needs at a great price.
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  • Profile picture of the author Mark Singletary
    Many people say that focusing on $1-5 a day or whatever is low enough to be realistic and not overwhelm a newbie. I agree to a point.

    However, $1 a day isn't going to really solve anyone's real problems. Most people aren't going to get rich, out of debt, or anything else at $1 a day. It's a great start but something that should be built on but many times it isn't.

    Why isn't it built on?

    Because people limit their actions and resources they are willing to spend for a measly buck a day and that limits them from moving to $1000 a day. They are used, for example, to having everything on a free webhost or free autoresponder or free site builder site.

    They are used to using free PLR or rehashed content and not used to making their own original hard hitting content.

    They are used to learning every technique and secret while not trying much of any of them because they have this limited frame of reference - $1.

    I guarantee that Jeff Bezos or Bill Gates or Michael Dell didn't start with an idea for $1 a day or $5 a day. They started out thinking big, planning big, and making it happen big - no matter what it took. And it wasn't all daddy's money they used either. I think Michael Dell used $1000 to start his empire. Now his children have security guards.

    If you shoot for the stars you may mess up and hit the moon or you may just hit the dirt. But if you only are shooting for the dirt (or an inch above the dirt) all you'll likely ever hit is the dirt.

    Mark
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  • Profile picture of the author Alexa Smith
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    Originally Posted by Jake Moore View Post

    You have to own a great product that everyone wants and needs at a great price.
    You don't "have" to do any such thing. There are many affiliates earning six figures.

    Why do so many people here apparently believe things like this? I think it does many people a great disservice to imagine that the only way to make 6/7-figures annually is by developing and selling their own product(s). It's a huge, self-imposed, limiting belief.

    Originally Posted by ckbank View Post

    what's the most realistic way to make that much money online?
    There isn't one objective, constant, "most realistic way". There are different ones for different peope with different skills, who have traversed different learning curves and set up different types of online businesses.
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    • Profile picture of the author retsced
      Originally Posted by Alexa Smith View Post

      You don't "have" to do any such thing. There are many affiliates earning six figures.

      Why do so many people here apparently believe things like this? I think it does many people a great disservice to imagine that the only way to make 6/7-figures annually is by developing and selling their own product(s).



      There isn't one objective, constant, "most realistic way". There are different ones for different peope with different skills, who have traversed different learning curves and set up different types of online business.
      This is what I was just about to say It's a myth that you need to have your own product to earn a substantial income online. I also agree that it does many people a great disservice to say so.
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    • Profile picture of the author ckbank
      Originally Posted by Alexa Smith View Post

      You don't "have" to do any such thing. There are many affiliates earning six figures.

      Why do so many people here apparently believe things like this? I think it does many people a great disservice to imagine that the only way to make 6/7-figures annually is by developing and selling their own product(s). It's a huge, self-imposed, limiting belief.



      There isn't one objective, constant, "most realistic way". There are different ones for different peope with different skills, who have traversed different learning curves and set up different types of online businesses.
      What you are saying makes sense, but at the same time, it's kinda difficult to compete with the big affiliates.
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      • Profile picture of the author Kay King
        The only person you have to compete with....is yourself. It doesn't matter how much someone is selling - or how much money someone else is making.

        What counts is how many products you sell and your income - and trying to get those numbers higher each month.
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  • Profile picture of the author BrandonMHowe
    Host webinars featuring someone appealing, who can deliver
    great content.

    Give gifts as incentives for people to show up..

    Teach class. People will love it. Soft pitch a $997 product at
    the end with plenty of bonuses and have some proof.

    If y'all sell 20 and split 50/50.. that's almost $10k per 60-90
    minute webinar -- in your pocket!

    Do that once a week, 50 weeks of the year and BOOM! You
    almost have $500g's just from live events.. not to mention
    replays, etc.

    Not saying I make that much annually on webinars, but I have
    friends that do that much or more.

    I've seen it happen!

    I've actually hosted a webinar that did $34,xxx gross... not super
    amazing, yet my biggest to date.

    Here's a hint: real estate investing related is a perfect niche for this.

    This is definitely a scalable model with HUGE earning potential for
    anyone who dedicates the time to putting online events together!
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  • Profile picture of the author TopKat22
    Amen to what Alexa Smith said.

    There are so many ways to make big money on and offline, it is hard to look around and not find several.

    There have been multiple posts on here with step by step instructions of doing exactly that.

    Some take little money and more work, some take some money and some work and some take more money.

    It all depends on the person and what they are willing to do.

    My suggestions are to build a list, and to have multiple streams of getting traffic and of getting income. Don't build your business in a way that any one thing (like Google changes or an affiliate program not paying) can shut you down.
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  • Profile picture of the author Thomas Michal
    Well if you are just starting out, it's just like weight loss. Set small "realistic" goal so you can have mini successes along the way to keep you motivated. Otherwise you can get burnt out and quit.
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    • Profile picture of the author koreancowboy
      Originally Posted by Thomas Michal View Post

      Well if you are just starting out, it's just like weight loss. Set small "realistic" goal so you can have mini successes along the way to keep you motivated. Otherwise you can get burnt out and quit.
      One of the best pieces of advice that I've ever read on here.

      Besides anything that Alexa says.
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      I provide consulting for companies that use Adobe AEM...you can check out what I've done so far.

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  • Profile picture of the author Corey Geer
    You know, there are some products/ideas in this world that I would have never endorsed or put any kind of thought into at all. Then, these products go onto sell millions in a given year.

    I don't like when people tell you what DOES and DOES NOT work. People seem to relate their own experiences with something and if it failed for them, then it simply doesn't work.

    The truth is: You can either make pennies a year or millions a year in just about anything you do depending on you.

    The Problem: Everyone's in search of that Easy button that will ultimately hold them back from earning such money that you're looking for. Instead of taking action and getting to work, they procrastinate or they realize there's a chance of failing.

    YOU'RE GOING TO FAIL

    No one ever said IM was easy or guaranteed you would make it. Everyone fails at one point and unless you were born into a trust fund family or win the lottery, you're going to have some failures but don't ever let them discourage you. Once you find that 1% website that works and makes the money you're looking for, it'll be worth it.
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  • Profile picture of the author Michael Oksa
    The number will vary for everybody, and it's all about meeting people at their current level of belief.

    If someone believes it's possible to make $5 AND it's enough to spur them to take action, then that is better than aiming for an unbelievable (to them) $500,000 which paralyzes them.

    That being said, once that $5 is made, it's important to bump it up to a higher number. In other words, each amount earned should create a higher number of belief, and so on.

    Ultimately, it doesn't matter what anybody else believes, it only matters what you believe.

    All the best,
    Michael
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    "Ich bin en fuego!"
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  • Profile picture of the author Michael Franklin
    Product creation offers you the greatest potential for massive results...The trade off for bigger rewards is always bigger risks and in this case you have to risk brain capital and financial capital and a lot of sweat equity to develop your product....

    So in this world of "I want results NOW" if you're willing to keep the immediate gratification stirs at bay and make the sacrifices, you can get there.

    Just realize that there's no shame in going for lots of singles instead of the big home run of you're the type of person who wants FASTER validation of his/her efforts.

    IM allows you to leverage markets very quickly so just pick the approach that meets your comfort level....Then just hunker down and get to work!
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  • Profile picture of the author Walter Parrish
    Originally Posted by ckbank View Post

    Hi everyone,

    I have a straightforward question. Why not thousands of dollars? I mean most of us on this board want to make a few bucks, but while keeping it realistic, can't we focus on making tens of thousands or even hundreds of thousands? If you say yes, it is possible, what's the most realistic way to make that much money online? Serious answers only please.
    Rinse & Repeat
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  • Profile picture of the author Cee
    Originally Posted by ckbank View Post

    Hi everyone,

    I have a straightforward question. Why not thousands of dollars? I mean most of us on this board want to make a few bucks, but while keeping it realistic, can't we focus on making tens of thousands or even hundreds of thousands? If you say yes, it is possible, what's the most realistic way to make that much money online? Serious answers only please.
    If you've never made money online it's probably best to focus on small amounts at first. That's much easier to reach. After you've had some success it's time to refocus on the big bucks.
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  • Profile picture of the author Troy_Phillips
    Product, environment/crowd.

    It takes no more effort whatsoever to sell a $5000 product as compared to a $50 Product. Know your demographics and target the right niche using those demographics.

    It is going to be hard to sell $5000 products to a crowd looking for a $5 product .. not impossible but hard. Think about it .. how many $500 products do you see at Dollar Tree? Their products, their environment (store), and their target crowd are well matched.

    The same mentality needs to be applied to IM. You will have a hard time selling a $5000 list building course to those deliberating the best free autoresponder.
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    • Profile picture of the author Walter Parrish
      Originally Posted by Troy_Phillips View Post

      Product, environment/crowd.

      It takes no more effort whatsoever to sell a $5000 product as compared to a $50 Product. Know your demographics and target the right niche using those demographics.

      It is going to be hard to sell $5000 products to a crowd looking for a $5 product .. not impossible but hard. Think about it .. how many $500 products do you see at Dollar Tree? Their products, their environment (store), and their target crowd are well matched.

      The same mentality needs to be applied to IM. You will have a hard time selling a $5000 list building course to those deliberating the best free autoresponder.
      I think the bottom line is just basic selling.
      People basically know how much they are going to spend and what they want.
      What you are doing is making a friend and once you do that then you can sell them.

      Now 5k to 500 k is a stretch dealing with a 5 dollar crowd, but I've seen it done consistently when I worked jobs where we were selling.

      I will use car rental as an example. One company I worked for owned Avis and Budget. We rented the same cars at different prices in other words the Avis car was the high end the budget car the low end, but they were the same vehicle.

      It works the same way in the real world as well. You can go to one store and pay more for the same product that you could get at another store dirt cheap.

      I wouldn't rule out environment either on a mass scale yes maybe, but lets go back to the car rental again.

      This time we are looking at not Avis and Budget but lets just take Budget for the example. Within budget you had what we called upsells putting the customer into a nicer car than the one they rented for an additional cost. Normally something like 10 bucks or more, however you had some agents that could only do 5 to 10 bucks and then you had the master seller who could do 40 to 100 bucks.

      My point here is it all depends upon the person. The customer knows what they want, you make the friend and then you can explain to them why it's good for them to pay more. nothing is written in stone if it were half the companies in the big money now wouldn't be.
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  • Profile picture of the author lucky31
    In my view one should go step by step, First think of $5, then $50 and then $500 and so on. If we think of $5000,000 straight away then it will look like a huge mountain to climb and some peaple will back away and will not work. But I think everyone has his own opinion.
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  • Profile picture of the author Walter Parrish
    I will say this much thinking step by step is a mistake.

    Aim High.
    Dream Big

    Have short term and long term goals. Your long term could be 5,000,000 a month.
    Your short term may be the 1k, 10k, 100k etc.

    Get out of failure mode or as some call it the Slow Lane.
    When you set your goals High then you begin to think and become more creative.
    So, if your goal is just 5 bucks a day you will have a 5 buck a day mindset.

    Whereas when it comes to the Big Money you have to expand and learn how to delegate the work, please your customers, partners, associates, media, develop relationships etc.

    Just think about it like this. If you got a small site say 500 members, paying members, and then you wakeup tomorrow and there's 50000 members, what do you do first? I can almost guarantee if you were on the slow lane your business could possibly fail or loose money, due to you not knowing what to do.
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  • Profile picture of the author artion
    i know someone who earned 700k in 2 years with an unexploited idea... i remember 3 years ago he was just a simple ptc refferal.. it's just an example.. so why not ?
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  • Profile picture of the author Socialbakers
    Originally Posted by krystalskull View Post

    Realistically earning thousands is possible with product creation. But, IMO, taking slow steps is more realistic than aiming for the sky at once.
    Why couldn't you aim high? Having small dreams will not motivate you as much as having really big dreams that would fulfill the "purpose of your life".
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  • Profile picture of the author Charles Roger
    Everything is related to marketing! Steve Jobs was not a programmer but thanks to the marketing classes that he attended to he could sell his products to the world not just America. If you now how to find the need then satisfy the desire that occur from the need then you can make 6 figure a day.
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  • Profile picture of the author Tony Humble
    Banned
    $500,000 online with $5 investment? I'm serious! [NEW WSO LIMITED EDITION]

    Here's a realistic way to make $500,000 online, requiring only $5 investment:

    (1) Learn programming and web development. Become fluent in PHP and at least 5 other languages. Est time: 1-2 years

    (2) Think up a great idea for a site that hasn't being done before (eg YouTube, Facebook, Instagram)

    (3) Hire a web designer from Fiverr.

    (4) Create your super awesome social web 2.0 synergy integrated site.

    (5) Wait a few years

    (6) Get acquired by Google or Facebook.

    Congrats, you're rich
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    • Profile picture of the author Jonathan Branson
      Originally Posted by Tony Humble View Post

      $500,000 online with $5 investment? I'm serious! [NEW WSO LIMITED EDITION]

      Here's a realistic way to make $500,000 online, requiring only $5 investment:

      (1) Learn programming and web development. Become fluent in PHP and at least 5 other languages. Est time: 1-2 years

      (2) Think up a great idea for a site that hasn't being done before (eg YouTube, Facebook, Instagram)

      (3) Hire a web designer from Fiverr.

      (4) Create your super awesome social web 2.0 synergy integrated site.

      (5) Wait a few years

      (6) Get acquired by Google or Facebook.

      Congrats, you're rich
      LOL Thanks man !!!
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  • Profile picture of the author Matt Carlson
    Everything is limited only by your belief.If you can thing big and go the extra mile to get the things done,you can make as much as you want.

    Having your own products is the surest(and easiest according to my experience) way to make big money.I would like to differ from Alexa here.Most of the six and seven figure affiliates are successful product owners with big lists.

    Spot a big need(something that is desired by millions),provide what your prospects want,recruit affiliates(and motivate them),have a backend ready and you can make six figures a month.
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  • Profile picture of the author brettb
    Why not $500,000?

    I think this is because most people here are doing the same thing (niche wordpress sites). However good you are at SEO, realistically you're never gonna get to $500,000 with a an AdSense blog.

    To get to $500,000 you need products, or you need to haul some serious ass and learn how to make money with PPC campaigns. Most people here don't have the balls to do this, or the startup capital. Also you need to know your niche very well, and be able to laser target buyers. But once you know how to make $1.05 from spending $1, then you can simply scale it up.

    Products don't need to be WSO or Kindle books. Just today I spent $50 on something from a micro-business. All it is are a dozen different bits of plastic sourced from china, a nice box, and a set of instructions. The cost of starting this business (in an evergreen niche with VERY DESPERATE buyers) would have been practically nothing.

    Also most warriors are in the same tired old niches. I was in TKA for a while and literally everybody was blogging about furniture or travel (mostly furniture). You'll find it much easier to make $$$$ if you're the first major player in a niche (e.g. PoF.com).
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  • Profile picture of the author markcr
    Banned
    $1m, $100M, $1B, $100 billion..higher?

    When you see what big companies are doing the numbers are staggering and the 2I want to make $1k month threads" become laughable.

    Mix with the big boys networks, it will open your eyes to a different world.
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  • Profile picture of the author markcr
    Banned
    More like a different industry.

    To get to $500,000 you need products, or you need to haul some serious
    I.M. is crowded with two penny hucksters.
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  • Profile picture of the author markcr
    Banned
    Better still , buy lotto tickets and pray. Same thing!

    Here's a realistic way to make $500,000 online, requiring only $5 investment:

    (1) Learn programming and web development. Become fluent in PHP and at least 5 other languages. Est time: 1-2 years

    (2) Think up a great idea for a site that hasn't being done before (eg YouTube, Facebook, Instagram)

    (3) Hire a web designer from Fiverr.

    (4) Create your super awesome social web 2.0 synergy integrated site.

    (5) Wait a few years

    (6) Get acquired by Google or Facebook.

    Congrats, you're rich
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  • You would be shocked to find out how many Warriors will never make their first dollar online ever.
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    soon people... Relax...
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  • Profile picture of the author DanWestern
    Of course it's possible.

    Start a business and build on it. Keep building and improving.

    Another route would be to build a large portfolio of smaller web businesses.

    Your choice...
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  • Profile picture of the author HostWind
    Many people aspire to be wealthy, but do not go at it 110%. It is the truly hard workers, and ingenious people that often make it to the top. Sounds simple huh?
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