Anyone here NOT spending money on IM training / Info Products?

42 replies
Hey guys

I see a lot of threads where folks have spent huge sums on training courses, mentoring and training products.. Im curious to know if there are any 'boot-strappers' out there, who get by on free information alone?

I cruise the forum to glean info, use the search function for specific enquiries - and sometimes cross-check the info online. Sometimes I chat to likeminded warriors on skype to share general IM info. This seems to see me through ok, but Ive always been an independent kind of person.

I do invest in my business, but it's mainly for tools. Here is what I have spent money on over the past two years:


Subscriptions:
  • Adobe Creative Suite Subscription (£15.00GBP per month - Teacher Concession)
  • Aweber Autoresponder ($19.00 per month)
  • Hosting & Domain (£37.00GBP per year)
Total: $46.70USD / £30.50GBP per month

One Off Purchases:
  • TweetAdder (One off fee, 5 profiles $74.00USD)
  • Blue Yeti Podcast Mic (£100.00GBP)
  • Premium Wordpress Theme ($37.00USD)
  • OptimizePress Theme (£97.00GBP)
Total: $412.66USD / £269.50GBP


..And that's pretty much it! My main investment has been time of course, but us freelance artists don't have a great deal of expendable income to throw around

Look forward to hearing your thoughts

Conzz
#info #money #products #spending #training
  • Profile picture of the author Charles AK
    aweber = $19.00/month
    liquidweb = $19.00/mo
    product creation = $300/month
    outsourcing = $200-$500/month (included in product creation expenses)
    membership site = $300+ (one time unlimited use)

    I don't like to spend money unless i'm making it.
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    • Profile picture of the author StingGB
      I've never paid for anything. I've built my site from scratch, and used the usual free techniques to gradually build organic traffic. This forum has a heavy presence of people who go down the mentoring/paid ads route but it's not the only way. I make a fairly good living now through only having invested time. It can be done.
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      • Profile picture of the author iwowwe4you
        I am not paying for any thing unless I do not have time to do it my self and it need to be done within time limits. The best way of learning is sharing knowledge and experience with other business people. If they are professionals they will share with you as well, as every one treats high ability to share. I teach people who work with me my self, providing any thing they need to be successful. So, if they find something new, they will always share this with me and if it is useful it will be added to the training.
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        Happy to share 18 years experience in MLM/IM. Not doing any other work for over 7 years now. Accredited as a coach by 3 companies I worked with after completing a course of education and passing exams. HND in Business, Economics, Accounting, Market Research, Market Development, Management.
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  • Profile picture of the author Josh Monroe
    I don't mind spending if it's going to either teach me something new, or make me money now or in the long run.

    If I need it, I buy it. That's pretty much it.

    Also, when it comes to things like outsourcing I was ALWAYS against it...But now I realize, why sit and do something thats going to take me 30 minutes to complete, when I can pay someone $5 to do it for me?

    Most of the things I invest in make me money in return, IE.

    Auto responder - send out emails that make money
    Hosting - Again, used to monetize in some form.
    Training products - The information I'm buying serves the purpose of teaching me a skill that I can then use to make money..

    And so on.
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  • Profile picture of the author khooster1
    I spent 70% of my sales in building
    My list and driving traffic..

    The other expenses are typical:
    1. Hosting/domain
    2. Autoresponders ( can be a hefty sum with big list)
    3. Part-time VA

    That's it!!
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  • Profile picture of the author sbucciarel
    Banned
    I've bought plenty ... but not info products for the most part. I did buy an ecommerce course and I buy some info products from someone that I'm on his list, but from the WSO forum, I buy mostly software, graphics, templates, and plugins.
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  • Profile picture of the author SurrealPSD
    Great insight, thanks for sharing your experiences guys.

    The only other expenditure I could imagine putting in motion in the near future is the use of a VA. It would be someone I know from the US though, as my content writers would need very specific software / art knowledge
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  • Profile picture of the author tooAlive
    I used to buy info products when I was first starting out, and felt as if I'd be missing out if I didn't.

    Right now the money I invest goes into hosting, autoresponder, premium themes, software, and traffic.
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  • Profile picture of the author Devin X
    Banned
    Originally Posted by SurrealPSD View Post

    Hey guys

    I see a lot of threads where folks have spent huge sums on training courses, mentoring and training products.. Im curious to know if there are any 'boot-strappers' out there, who get by on free information alone?
    Yes and no. Everything I learned, I learned in college...so that wasn't free...but it wasn't an IM/MMO program either. You know what I'm saying?

    Originally Posted by SurrealPSD View Post

    I do invest in my business, but it's mainly for tools. Here is what I have spent money on over the past two years:
    Exactly. You can find deals on your operating expenses and your tools, but you can't neglect them. This is a business and anyone that says they're doing everything for free, is either lying or broke in my opinion.
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  • Profile picture of the author mstrmindmktg
    Like others, I have the usual expenses - hosting, domain, autoresponder, etc. And yes, I have spent my share on "shiny objects" and also went in for some very good free stuff. But most of what I have spent money on (courses, tutorials) have been worth it.
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  • Profile picture of the author yakim1
    When I first started out I followed one marketer and his business plan as I saw it.

    The problem with his business plan is that it was all small ticket products sold from a membership area. So I created EZ-Profits Monthly and I created over 15 products a year for the membership for almost 2 years.

    I was making around $7,500 a month but I was working my butt of because most of the products had some kind of software solution to make the strategies I was selling easier to do.

    It could be the lack of coaching caused me to have my PayPal account suspended because I was offering a 2nd commission on the sales letter. PayPal found out about the 2nd tier, which is a violation of their rules.

    PayPal told me to remove the 2nd tier commissions and they would reinstate my PayPal account. When they reinstated my PayPal account, all my subscription payments were gone.

    So I went from $7,500 a month to $0.00 a month. However, I still had my list and was able to rebuild my business rather quickly with a new business model that did not take nearly as much work.

    List building was the foundation of my business and even though I lost everything, I was able to rebuild much faster than if I had no list at all.

    Maybe if I would have had a mentor or coach I would have not made the PayPal mistake and I would have know that 1 off low ticket products was not the best business plan.

    I started seriously in IM because I had a heart attack and had very little money because I could not work. So I only had a desktop autoresponder called Network responder, cheap hosting and a few godaddy domains. I couldn't afford anything else and to be true not even that.

    I bought almost no products but just observed one marketer and did what I saw him doing.

    I hope I've been able to help out.
    Steve Yakim
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  • Profile picture of the author ContentIn48Hours
    In addition to the necessary business expenses, I have and still do buy products.

    I always suggest o people to stop buying an abundance of products until you are making money. Once you are making money your purchases will be to help grow your businesses.

    Steve
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  • Profile picture of the author laurencewins
    The thing I spend the most on is bumping my Warrior for hire ad. I do that regularly and generate a lot of work so it's worth the investment. As for other costs, I don't spend unless I need something I want and can't get it for free. I am not going to bother listing the few things I have bought but it is far less than what I earn each month so I am not spending my own money.
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  • Profile picture of the author Stuart Walker
    I only buy when something is necessary. If I need a tool I will purchase it. If I need information on something and I'm struggling to find it easily for free then likewise.
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  • Profile picture of the author Gonzosan
    Other than a few subscriptions for this site I don't buy info products. I'm not looking to sell affiliate products of anything of that sort but looking for ways to build my business online. I too do something similar to what you do so my expenses are very similar. Currently what I have spent money on:

    -Hosting through hostgator ($12/month)
    -Wordpress theme ($50)
    -Various Plugins ($50)


    I also had a VA I was hiring but had to let him go as it was an expense I didn't need so I'm saving $500. A lot of tools I use are free but future expenses will be:

    -Unity Pro ($1000-1500)
    -New custom built desktop ($1500) (I currently have a Macbook Pro)
    -Shopify store ($29/month + 150 for store theme)

    So my expenses are pretty much nil for my business but I do pay for things here and there. I've purchased a Splasheo intro for $47 and had someone do some freelance work for about $125.
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    • Profile picture of the author yakim1
      Originally Posted by Gonzosan View Post

      Other than a few subscriptions for this site I don't buy info products. I'm not looking to sell affiliate products of anything of that sort but looking for ways to build my business online. I too do something similar to what you do so my expenses are very similar. Currently what I have spent money on:

      -Hosting through hostgator ($12/month)
      -Wordpress theme ($50)
      -Various Plugins ($50)


      I also had a VA I was hiring but had to let him go as it was an expense I didn't need so I'm saving $500. A lot of tools I use are free but future expenses will be:

      -Unity Pro ($1000-1500)
      -New custom built desktop ($1500) (I currently have a Macbook Pro)
      -Shopify store ($29/month + 150 for store theme)

      So my expenses are pretty much nil for my business but I do pay for things here and there. I've purchased a Splasheo intro for $47 and had someone do some freelance work for about $125.
      Just wondering, where is your expense for an autoresponder one of the most useful online marketing tools?

      Best regards,
      Steve Yakim
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      • Profile picture of the author Walter Parrish
        aweber
        themes
        hosting of course
        domains
        secure certs

        oh and of course I spend money on shiny objects it's a part of learning the game. right now, I spend on traffic after that I figure it will be a rare occasion when I have a need to spend as much.

        after awhile it begins to look like familiar territory and one thing I know for sure is when a paradigm gets old it's time to move up to the next level.
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  • Profile picture of the author Randall Magwood
    I wish i "got by" with free information when i first started. But that wasn't a reality. My first big purchase was a 50% off deal, and i basically spent $1,000 on a ton of really good info products.... not in the internet marketing niche - in the offline business niche. I learned from mistakes though... now i follow a regular marketing routine daily that gets me my results.
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  • Profile picture of the author JasonBennet
    When I first started, I am constantly looking for the magic button and purchase many products that come out in the market. It is only after spending nearly $1000 plus then I realized that I need to stay focus on following one system at a time if I want to have to long term internet business.

    Now besides investing money on tools to run my business, I still do purchase products that will help me to grow my business to the next level. It is a never ending journey and I think it is important to be educated. Of course the education should not distract me from my main business model.
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  • Profile picture of the author TryBPO
    We've bought very few info products, courses, etc...less than 5 is my guess.

    We do, however, spend quite a bit on SaaS apps and software. Things like AWeber, LibSyn, hosting, LongTailPro, Market Samurai, Whoosh Traffic, Dropbox, etc.

    Most info is free (or wants to be) so we don't bother too much with the latest shiny new object that's come out. Digging through SEOMoz will tell you most or even more of what you'll find in SEO info products, checking out NichePursuits will tell you everything you need to know about niche sites, etc.

    Once you get past the learning/knowledge phase you get into the less-glamorous phase...actually doing the work! That's where most people run off to find the next info product coming out, I think...heh.
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  • Profile picture of the author Tinkerbell
    Originally Posted by SurrealPSD View Post

    Hey guys

    Im curious to know if there are any 'boot-strappers' out there, who get by on free information alone?

    My main investment has been time ...
    Conzz
    ::raises hand::

    Me.

    I do a LOT of reading, on this forum and elsewhere (and yep, even "paper" books) to learn about the topics I need to know in order to do what I want to do. Like you, my largest investment has been "time" and as time goes on, I have come to believe it is the most expensive and also the one which yields the largest ROI.
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  • Profile picture of the author kpmedia
    I cringe when I see some of the things sold on this site referred to as "products".

    It's "stuff" at best (mind vomit as PDF, Youtube videos, whatever). It's certainly NOT a professional product. I've seen kids make more presentable stuff for class projects!

    Same for "courses" ... it's not really reminiscient of school/college in any way. Just an unqualified person yapping, more often than not. I've been somewhat disappointed with the 1-2 things I bought in the past few years. I was hoping to find a tip or two, but even that is near impossible, sadly. Just people regurgitating the same crap (some of it myth).

    What I always find ridiculous is the people who dedicated a whole section to installing WordPress. What a COMPLETE WASTE of time.

    We should demand better, and flush out the hacks.
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    • Originally Posted by kpmedia View Post

      I cringe when I see some of the things sold on this site referred to as "products".

      It's "stuff" at best (mind vomit as PDF, Youtube videos, whatever). It's certainly NOT a professional product. I've seen kids make more presentable stuff for class projects!

      Same for "courses" ... it's not really reminiscient of school/college in any way. Just an unqualified person yapping, more often than not. I've been somewhat disappointed with the 1-2 things I bought in the past few years. I was hoping to find a tip or two, but even that is near impossible, sadly. Just people regurgitating the same crap (some of it myth).

      What I always find ridiculous is the people who dedicated a whole section to installing WordPress. What a COMPLETE WASTE of time.

      We should demand better, and flush out the hacks.
      I kind of disagree and as you can see in this forum I started, I'm quite skeptical and mistrusting myself. I think for instance that some people really do need help installing WP, and while it might seems obvious to people who are good with technology, it's not for everyone. And you can skip the videos you already know about, and re watch the other ones. I do however agree that this business is SATURATED with BS, scams, and people promoting products out of pure greed. I totally am with you there. I think it's possible though that some of the info is legit though. Some people make money ethically, etc. And I personally will continue experimenting with various products and so on, different methods, maybe even compile knowledge into a legit ebook of my own. Probably not for many reasons, but who knows.

      There are a lot of BS scams or manipulative crap out there, but among the BS there is some legit stuff, and legit people. How do you make money online?
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  • Profile picture of the author Danit98765
    Hi,
    You can find a variety of free information and tools regarding IM. I usually listen to many interviews of experts in the field of IM and I try to learn from them as mush as possible. Also read IM experts blogs, it will give you a huge added value. If you have a specific expertise you are interested to learn, then I do recommend that you will take a paid course.

    GOOD LUCK!
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    I'm willing to help people make their fortune online. Send me a message if you are interested and I will show you exactly how! Remember, you can't win unless you try.
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    • Profile picture of the author KitschWitch
      I'm not currently spending money on any IM training or products, but only becasue I've bought to many (shiny object syndrome ).
      I've promised myself not to invest in anything else until I've gotten all possible value out of what I've bought already.
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  • Profile picture of the author simpleguy
    Nothing is FREE. Even if you learn on your own you still spent time learning it and time = $$$ So the smart people buy the stuff
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  • Profile picture of the author MovingAround
    Originally Posted by SurrealPSD View Post

    Hey guys

    I see a lot of threads where folks have spent huge sums on training courses, mentoring and training products.. Im curious to know if there are any 'boot-strappers' out there, who get by on free information alone?

    I cruise the forum to glean info, use the search function for specific enquiries - and sometimes cross-check the info online. Sometimes I chat to likeminded warriors on skype to share general IM info. This seems to see me through ok, but Ive always been an independent kind of person.

    I do invest in my business, but it's mainly for tools. Here is what I have spent money on over the past two years:


    Subscriptions:
    • Adobe Creative Suite Subscription (£15.00GBP per month - Teacher Concession)
    • Aweber Autoresponder ($19.00 per month)
    • Hosting & Domain (£37.00GBP per year)
    Total: $46.70USD / £30.50GBP per month

    One Off Purchases:
    • TweetAdder (One off fee, 5 profiles $74.00USD)
    • Blue Yeti Podcast Mic (£100.00GBP)
    • Premium Wordpress Theme ($37.00USD)
    • OptimizePress Theme (£97.00GBP)
    Total: $412.66USD / £269.50GBP


    ..And that's pretty much it! My main investment has been time of course, but us freelance artists don't have a great deal of expendable income to throw around

    Look forward to hearing your thoughts

    Conzz
    Where are you getting such cheap hosting?
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  • Profile picture of the author kpmedia
    £37 = $57
    You can easily get plans that price (and less) from hosts like Stablehost, Hawkhost, etc.
    Avoid the overpriced "unlimited" hosts.
    Avoid the fake "top 10" list hosts.
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    • Profile picture of the author Mike Long
      I buy next to nothing these days in the way of information products. But I've been at this for 14 years, so I feel like I have the foundational stuff down pretty well.

      That being said, this industry is constantly evolving and changing, and there are always new things to learn.

      I've done very little traffic buying over the years, but in the very near future I plan to change that. As I get closer to that time, I'll put a plan in place, and at that point I'll have no problem seeking out a couple of top-flight products to ensure that my plan is sound and that I don't make any obvious mistakes.
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    • Profile picture of the author MovingAround
      Originally Posted by kpmedia View Post

      £37 = $57
      You can easily get plans that price (and less) from hosts like Stablehost, Hawkhost, etc.
      Avoid the overpriced "unlimited" hosts.
      Avoid the fake "top 10" list hosts.
      Oh, I misread, I thought it was $37. Makes a bit more sense, although I'm a Hostgator believer despite they have risen their prices for non-US clients through VAT.
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  • Profile picture of the author jchengery
    Hello Conzz,

    One of the earliest lessons I learned is reinvesting back into your business. Let's face it, the Internet is an ever-changing place, and even compared to the offline world, moves a lot faster. Many say that 1 year online is equivalent to 7 years in the offline world.

    As a result, technologies and techniques come and go, the new "in" technique is not as effective a few weeks or months afterwards. Some tried-and-true techniques do stay effective (article writing, blog posting, forum posting), but you often have to change the way you approach it - you always have to adapt.

    Besides the usual expenses of hosting, domain name, autoresponders, VAs, etc., outsourcing and buying courses from those you trust to provide good material are usually worthwhile purchases, PROVIDED you do something with that training and with the work your outsourcers do. If you do nothing with the courses you buy, then they will just stick on your hard drive and just be a waste.

    Taking action is often the hardest and most difficult step, especially for those just starting out. It may be because they hear about "the riches" they'll gain in a "very short period of time," so they expect the riches to come immediately. When they don't, they then get discouraged and think, "Ah, I don't need to buy courses- I can learn everything for free."

    While it may be possible to learn much for free, it will take more time, and you don't always get the same level of material as you do from paid courses. Almost always, the free information isn't as organized as the paid information, so you have to do the organization instead of someone else, which takes additional time away from your business.

    I think three main keys to success in Internet marketing are the following:

    1. Balancing your purchases and utilizing them - When to go with free information, when to go with paid information, and making the most with both for maximum effectiveness and profit in the shortest amount of time.

    2. Realizing when you have to adapt your techniques and knowing the best way to go about doing that (whether looking for free information and/or going for paid information) - which will net you the largest amount of return on your investment (time and/or money) in the shortest amount of time possible.

    3. Already mentioned in #1, but will be mentioned here specifically: ACTION. If you don't act on the information you read/hear/see (whether free or paid), it won't benefit you and your business.

    Hope this helps!

    Take care,

    Joe Chengery
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  • Profile picture of the author writeaway
    All of that stuff is free. Just read and keep an open mind. And yes, you have to compare notes.
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    • Profile picture of the author Walter Parrish
      I think a basic question we need to start asking is

      How Many Here Are Making 6 Digits or Better? Because my BS metor goes off everytime I see someone typing.

      I find all the information I need online for free? I want to know how time consuming is it to find that information and are you doing 6 Digits or Better?

      I mean for the old timers I can understand part of their argument, because they have probably found formulas that work for them, but I cannot imagine someone sitting there not hitting the numbers they want and not looking at the guys putting out products that are hitting their numbers.

      Other things I would want to know is what peoples goals are. I mean I've seen some whos goal it is to make 10 bucks a day, some 100, some 1000, and some 5000 and others way beyond that. And shucks you got some people who are just happy to sell 1 item.
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      • Originally Posted by Walter Parrish View Post

        I think a basic question we need to start asking is

        How Many Here Are Making 6 Digits or Better? Because my BS metor goes off everytime I see someone typing.

        I find all the information I need online for free? I want to know how time consuming is it to find that information and are you doing 6 Digits or Better?

        I mean for the old timers I can understand part of their argument, because they have probably found formulas that work for them, but I cannot imagine someone sitting there not hitting the numbers they want and not looking at the guys putting out products that are hitting their numbers.

        Other things I would want to know is what peoples goals are. I mean I've seen some whos goal it is to make 10 bucks a day, some 100, some 1000, and some 5000 and others way beyond that. And shucks you got some people who are just happy to sell 1 item.
        My personal goal is also sadly, something I eventually have to fulfill one way or another. A quarter million dollars, to pay for four years of college, at a school that costs 55+ per year :O. Anyways it's a lot of pressure (though an okay motivator at times) and I haven't made anything yet, but invested a lot of research time and money. However, I'll keep at it until I have the money!

        I've explored niche sites, freelance stuff, things like Empower Network etc. all trying to figure out what works and what doesn't. I've been interested in WSOs before for instance but then you read these posts about them being a scam and everyone involved sucks. And you have your own personal doubts. Argh, it's a frustrating world.

        But thats my goal. A quarter million. Yikes.
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  • Profile picture of the author selma
    My best learning investment has been this forum and all the little mini forums like the video and kindle... love it, and learn SO much from everyone on here!

    I spend my money on:

    MAINLY: computer, video camera, mic, software

    hosting
    domains
    templates
    software
    graphics lots and lots of graphics because I create infoproducts

    fiverr, is my new obsession, I have to turn off that quick pay thing....
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  • Profile picture of the author Danny Shaw
    I have only ever spent money on software from this forum. I do have other costs like domains and hosting but that is a given. I suggest everyone to test methods and teach themselves. This is the best way to find a cool little system that makes money consistently. Then you keep your mouth shut and scale up. People selling crappy pdf's are trying to tell you one thing when their main income is the sales from these ebooks! That is their business model.
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  • Profile picture of the author UncleDearest
    I have never spent money on training. I have spent very little on information products, less than $100 in my 5 or so years doing this. I have, however, spent a ton of time on forums and google searching when learning to make all of this work. While I always learned something, even if very little, from a purchased info product, I've learned and successfully implemented far more as a direct result from researching for free on my own.
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  • Profile picture of the author gcozzens
    I have spent thousands on training/courses/books, etc. My advice is do as I say and not as I do. Stop buying and start creating your own products. Keep your sales model simple but your funnel deep. Make sure everything you create has massive value for the price you charge.
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  • Profile picture of the author PerformanceMan
    I sell them - I don't buy them.

    I think that's the whole point of earning money
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  • Profile picture of the author jachu2
    I believe in paying for education if it is valuable. There is something to learn from everything you read. Knowledge is power.

    However, most of your retained earnings should be re-invested into the business such as for buying traffic or website development and only a small proportion spent on buying guides to extend your business model.
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  • My only fixed monthly cost is mostly hosting (4-figures per month).

    Other than that, about $50 on proxies, some bucks in a live chat software, and that's pretty much it.

    I don't buy training or info products or WSOs and stuff like that.
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