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Is making eight grand in six months plausible?

by JSutton
14 replies
Hey everyone,

I'm pretty new to this forum, although spend a lot of my time reading articles on here. I'm a student at a university in the UK and need roughly £5000 (around $8000) by summer to pay rent for a flat (the rest can be covered by a loan). I do not wish to live at home (mainly for the independence/to be able to live out with friends etc.) but I may have to if I do not find the money.

I can see internet marketing is something I definitely would like to do in the future (I am only eighteen at the moment) and so would be doing this anyway if I didn't need the money - being self employed/running a business is something I've very passionate about.

I just wanted to know how plausible making five grand by this time is? Baring in mind I must fit my time working whenever I have some free time at university and I'm quite lacking in funds at the moment.

I've been currently working on a website and I'm hoping this will provide me with the income I need, although it's at a very early stage - only the homepage is completed and I still haven't finished writing a lot of the content for the website. This past week I've been working almost 12 hours a day trying to get as much done as I can before I go back to university next week.

I'd appreciate any advice or personal insights on this.

Thanks!
#grand #making #months #plausible
  • Profile picture of the author travlinguy
    I'd say no. Based on the experience of many here it's unlikely you'll see that kind of money that soon. It's possible but at 18 I'd imagine you have a pretty large learning curve in front of you.
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  • Profile picture of the author jpsween88
    I believe that this is very doable, but it is going to take A LOT of effort and learning. There are a ton of different ways to make money online, rewardauthors.com seems like you might be able to make a little bit of that but I doubt it will bring you 8k.

    Since you already are taking action to write content, you could do various things for example:
    1 - Promote yourself on fiverr, freelancer, odesk, iwriter to get people looking for articles that you can write for them.
    2 - You could create your own blog and do a combination of guest blogging, forum marketing, and social bookmarking to drive traffic.
    3 - You could start selling something on ebay, craigslist, ect. Find something that you enjoy and stick with it. Once you figure out a gameplan then us warriors can help offer more specific advice on how you can grow and achieve your 8k goal.


    Best of Luck,
    Justin
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  • Profile picture of the author cooler1
    Do they require you to pay £5000 rent on the flat in a lump sum? Just wondering why you can't pay the rent weekly or monthly.

    As you need to earn about $44/day, you might be better offering services because SEO takes time to build traffic and the longer you go without being at that daily amount, then the daily goal gets even higher.
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    • Profile picture of the author JSutton
      Originally Posted by jpsween88 View Post

      I believe that this is very doable, but it is going to take A LOT of effort and learning. There are a ton of different ways to make money online, rewardauthors.com seems like you might be able to make a little bit of that but I doubt it will bring you 8k.

      Since you already are taking action to write content, you could do various things for example:
      1 - Promote yourself on fiverr, freelancer, odesk, iwriter to get people looking for articles that you can write for them.
      2 - You could create your own blog and do a combination of guest blogging, forum marketing, and social bookmarking to drive traffic.
      3 - You could start selling something on ebay, craigslist, ect. Find something that you enjoy and stick with it. Once you figure out a gameplan then us warriors can help offer more specific advice on how you can grow and achieve your 8k goal.


      Best of Luck,
      Justin
      Hey thanks for the advice, I just need to decide whether to abandon it to look for short term cash through those methods or try make something out of it.
      Originally Posted by cooler1 View Post

      Do they require you to pay £5000 rent on the flat in a lump sum? Just wondering why you can't pay the rent weekly or monthly.

      As you need to earn about $44/day, you might be better offering services because SEO takes time to build traffic and the longer you go without being at that daily amount, then the daily goal gets even higher.
      Not it'll be a termly payment, however I'll just decide to live at home it I don't make near that money as I wouldn't want to risk not keeping up with payments.
      The point of my website was to be a way to outsource the content for eBooks and all I'd have to do was the marketing side - website design/squeeze page etc. so I could focus my time - however I do see your point I think it may take time before I see any traffic
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  • Profile picture of the author slanier2
    Depends on what skills you are coming into internet marketing with. 8K by summer isn't a lot of money..but if you are new to the industry the learning curve is really what will slow you down.

    8K for some people is an email. For others its a weekend, then there are those who will never see that kind of money in their internet marketing careers.
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    • Profile picture of the author butters
      I am currently in my first year at uni now doing biomedical science, I went into uni 4 years later then the average person in the UK (Uni is my back up career and something interesting to me). I have been doing this for 4 years now and ill say this, the learning curve you need to go through is MASSIVE in order for you to achieve what you want to get. The amount of time you need to dedicate to learning is more then 40+ hours a week, don't be fooled by all these 5 hour a week systems which will get you your goals, it doesn't happened. If you are in your first year then you probably have that time to spare but remember this, your second year will be somewhat more frantic and your third year will be extremely busy revising and completing your end of year project.

      Then you have the added distraction of flat mates, they will want to go out, they will make noise and talk to you, each distraction they cause is time wasted. Yeah it sounds kind of serious saying that but it's the truth, you need to limit distractions down to a minimum to get any serious work done for a day (No 2 articles and 10 backlinks is not serious work in a day).

      Honestly, get a job, not being harsh or anything but you will be risking everything to start something you have no idea about. You will then have 6 months to make it work, if you can put 40 hours a week into educating and implementing the things you learn, then maybe but in reality this is a rarity.
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      • Profile picture of the author JSutton
        Originally Posted by butters View Post

        I am currently in my first year at uni now doing biomedical science, I went into uni 4 years later then the average person in the UK (Uni is my back up career and something interesting to me). I have been doing this for 4 years now and ill say this, the learning curve you need to go through is MASSIVE in order for you to achieve what you want to get. The amount of time you need to dedicate to learning is more then 40+ hours a week, don't be fooled by all these 5 hour a week systems which will get you your goals, it doesn't happened. If you are in your first year then you probably have that time to spare but remember this, your second year will be somewhat more frantic and your third year will be extremely busy revising and completing your end of year project.

        Then you have the added distraction of flat mates, they will want to go out, they will make noise and talk to you, each distraction they cause is time wasted. Yeah it sounds kind of serious saying that but it's the truth, you need to limit distractions down to a minimum to get any serious work done for a day (No 2 articles and 10 backlinks is not serious work in a day).

        Honestly, get a job, not being harsh or anything but you will be risking everything to start something you have no idea about. You will then have 6 months to make it work, if you can put 40 hours a week into educating and implementing the things you learn, then maybe but in reality this is a rarity.
        Thanks for the advice, it's good to hear from someone who's at a similar position (although probably more experienced!). I'm not completely new to this as in I was introduced to IM a few months ago, but I understand I know no-where near the amount I need to know.

        I do think getting a job would be impractical for me though, I would have very inflexible hours trying to fit it with university, that's one of the good things I've found with IM (being able to fit the times around me). However it looks like I'll need to find another way of getting the money now.
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        • Profile picture of the author butters
          Originally Posted by JSutton View Post

          Thanks for the advice, it's good to hear from someone who's at a similar position (although probably more experienced!). I'm not completely new to this as in I was introduced to IM a few months ago, but I understand I know no-where near the amount I need to know.

          I do think getting a job would be impractical for me though, I would have very inflexible hours trying to fit it with university, that's one of the good things I've found with IM (being able to fit the times around me). However it looks like I'll need to find another way of getting the money now.
          By all means I am not trying to discourage you in anyway but just trying to put it more in a realistic way . Just a thought for you in a way you could supplement your income and get you on the way to your goal of 5k. How is your english skills? I know article writing will always be in hot demand for this business and depending on your skills you may want to look into that (If you are a good writer).

          Maybe if you listed your skills here about what you have achieved in these 3-4 months of doing it, we may be able to give you a more in-depth answer .
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  • Profile picture of the author Matt79
    It's going to be a tough challenge for you since it sounds like you're starting out in the IM world. It's going to take time, but just keep putting in the effort. You're going to stumble along the way, just learn from your mistakes and move on. Key thing is stay focused, otherwise you'll won't make much online.
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  • Profile picture of the author Subseven
    What is your exact plan for the website? How will you regulate the information flow, how much will you make off customers, and how much will you need to turn over to be able to make that amount of money. Make an estimate of sales / submissions you need for you to be able to make that amount of money, combined with an estimate of time you would need to put in. Then consider marketing costs / time, and the content of your website itself. If you want to have a site where people are really stimulated to submit their work, you should make it a real practical site, and this will take some time (and experience). How long do you think you would need for it to be up and running?

    I think, if you are on a tight schedule and need to make a certain amount before having any actual experience, it would be smart to not solely rely on something like this. It would be good to put time into it, and gain experience, but try to have at least some kind of back up. Just calculate the numbers, see what you need, how much time you would put in, make arealistic estimate based on your required numbers and see if it would be worth your risk / time. Good luck. :-)
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  • Profile picture of the author Austin E Anthony
    It's possible but it will depend on your experience and business model. For a newbie just starting out, I don't see that as been realistic.
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    • Profile picture of the author Audarah
      Im going to have to agree: somewhat plausible, but unrealistic. If you know next to zilch about IM... I really dont see you making your goal but you could come very close. There are other methods on there for making money
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  • Profile picture of the author VinnieVegas
    Sure. Create a $300 info product. Build a site. You should clear $250 profit. To make $8000, you need to sell 32 of them. Less than six a month. A little more than one a week.
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