What to do with 10-20k??

couldn't agree more. that's the first thing that came to my mind.

10-20k aint really nothing when you start dumping it in ads and you have no idea what you're doing.

just get yourself a mentor and it'll save you a lot of time & money.

gluck!

Rather hire a turn key specialist who can take your business to next level. $10k to $20k is a decent amount to start a good legitimate online business.

I had hired one who moved my biz from $2k per month to $10k per month in 3 months.

I'm sorry, but this is clearly poor advice. He has got good cash to start with and invest to his own unique ideas and you tell him to rather get a mentor for the money and start from scratch?

I personally HATE this kind of advice, it's as if he was too stupid to think on his own. He can learn everything he needs on his own. Will it take time? Yes. But will it be worth keeping $10-$20k instead of paying a "mentor"? YES!!!

I agree. Only one thing I wanted to add is, if you don't want to pay him to write articles; you can pay me.

Agreed. This is in addition to my savings and other investments.

The way I see it, assume it takes 4k per site at 5 sites...and each one just does $100/month net income...which to me would be a miserable failure...this is still a 30% cash on cash return. Not bad in the grand scheme of things.

Thank you sir. I have pretty thick skin and have dealt with breaking into another industry that I became successful in (real estate investment). I am just looking for something fresh and exciting to supplement my investments. Great info overall, thank you.

I guess I have to agree with you. The smartest thing anyone can do is ask a bunch of strangers what to do with 20k

I'm not sure WSO buyers are looking to know anything about real estate lead generation but he could certainly create a product on real estate and sell it elsewhere. His 5 years experience would make him a much of an expert as anyone.

Work out your business model first.

• How much time can you put into this project?
• Can you put in the same amount of time each week or will it vary?
• What return will you need to consider this project successful?
• Is the business going to be offline as well as online?
• What resources do you need to complete this project?
• What you want to become expert at and what you want others to do for you?
• etc

I would hire a mentor with the intention to create a product, and, using the mentor's help I would start small until I began to realize sales, then I would scale up from there learning as much as I can along the way.

Lots of suggestions already, including some sensible ones.

Keep most of the money in your savings account. Use the remaining (some of it) to get a taste of how real "water" (business) feels when done online.

It may take you a few shots to establish online, the first shot may succeed but again, it may not. So use the money wisely.

Ask yourself, whether you really want to be in the Internet business. If so, then ask yourself why.

By the time you know the answer to these questions, you will know what you love doing. Make sure that there is money to be made by doing at least one of the top-3 items of your choice. Then, do that. Get a mentor if needed, within the area of your business practice, as others have also said. That will help you grow in a healthy and fast manner. Acid-test your mentor before getting him/her on board, but pay him/her well so that he/she has a real incentive to work with you.

You could hit me with a PM for more, if you want to.

For now, if you're completely new to IM, put your money away.

(And if you're a newbie, ignore any suggestions like "write articles" or "hire me to write articles for you." That's a single marketing TACTIC, VERY premature when you're new and don't even have an idea for a business yet. A rather ridiculous suggestion really.)

IM can be very confusing, but it's not really that hard when you clear away the clutter.

Clarity is a HUGE part of IM success. It's so simple when you know it -- and darn difficult when you don't! I owe my mentors a world of thanks for bringing this clarity.

IM is actually pretty simple: you can sell only one of two things:

1. Products
2. Services

That's it!

And selling products or services online happens in the same basic way for everyone, no matter what they're selling:

Traffic > Opt-in page > Autoresponder series (or e-zine) > Sales page

It's just that simple. (We IMers tend to overcomplicate things.)

So first, you need to pick a niche, pick a target market (who will buy what you're selling?), and then pick a business model.

What is your business model? Meaning, will you sell products or services? Will you sell your own products or services or will you be an affiliate for someone else's products or services? Do you want a membership-based business?

All of this requires research, but no money.

To get started, I always recommend buying at least one comprehensive IM course. Getting a mentor is a fantastic idea, as others have mentioned here. But if you're a complete newbie, you're better off starting with a course to learn the basics. You'll get a lot more bang for your buck if you have an understanding of the basics before investing money with a mentor.

You'll also get a lot more out of coaching if you already know what niche and target market you want to pursue first. Don't waste precious dollars paying a coach (by the hour or month) when you're still trying to figure out your niche and target market (unless you need specific help with that).

I paid my mentor $12.5K and it was some of the best money I ever spent. But I had a working knowledge of IM basics before I did that.

Two comprehensive A-Z IM courses that I love and recommend are Jeff Walker's Product Launch Formula (https://www.productlaunchformula.com/) and Ali Brown's Elevate training (Elevate 2013).

I've learned from both and they are at the top of their game. Well worth the investment!

I DO recommend investing in either one (or both) even if you don't know your niche and target market yet. You'll get valuable marketing how-to which can help you determine your niche and target market.

When you're starting out though, paying a flat fee for a comprehensive course is very different from paying someone for their time, which can easily run out while you're still trying to figure out the basics.

Your tasks:

1. Invest in one, comprehensive IM course. (Cost: approximately $2K-$3K).

2. Research and decide on what kind of business you actually want -- that is, what niche and target market will you pursue? What will you sell? (Hint: article marketing is NOT a business!) (Cost: free).

3. Invest in a good website. (Cost for web design: approximately $1500-$3K. I paid $2.5K for mine.)

4. Then put the rest of your money into actually marketing, which will vary according to what you're doing.

Your biggest "spend" in the beginning is your time. And the money you invest in a basic, comprehensive IM course will shave big $$$ and a lot of time off of your learning curve. You can opt for mentoring if you feel you need it.

And if you do, you'll get a lot more out of it if you've already have a basic foundation under your belt.

I hope that makes sense!

Michelle

If you go the way of Stocks... i.e. Day Trading... Swing Trading, Scalping Forex etc... Find a mentor, there is no Holy Grail... so don't be fooled... but you can manage risk and be a very very profitable trader... if I can do it... anyone can.

Best of Luck to you and your fortunes

It has nothing to do with IM.

Pretend the internet didn't exist.

What kind of business would you invest in?

Take that idea, and then remember IM exists.

Ha, good idea

But i love these threads! Everyone thinks that with a large sum of money they could turn it into millions. But if it were the case they would to the same with $100 on a smaller scale.

If i had lots of money to invest, i would buy some coaching in CPA , then use the rest of the money to split test/create a profitable campaign . CPA success is like buying money lol.