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

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.

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.

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!!

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.

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

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.

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?

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.

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.

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

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

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.

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.

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.

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.

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.

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.

::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.

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.

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!

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

Where are you getting such cheap hosting?

£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.

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

All of that stuff is free. Just read and keep an open mind. And yes, you have to compare notes.

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....

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.

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.

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.

I sell them - I don't buy them.

I think that's the whole point of earning money

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.

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.