What to do with 10-20k??

by bss2t
59 replies
Hi everyone.

I am fairly green to internet marketing. I managed a real estate lead generation company about 5 years ago that had a strong online presence...about 300 front page local sites for Realtors.

Now I want to get back in the game...and I have some cash to do something. My first thought is to build out a niche site and rank it. I figure it might take a year to build something worth while, but that is OK with me.

But there are a lot of people here smarter about IM than me, so...what would you do with 10-20k?
#1020k
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    • Profile picture of the author Chris Cho
      Originally Posted by Laura Raisanen View Post

      I would definitely get a mentor.
      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!
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    • Originally Posted by Laura Raisanen View Post

      I would definitely get a mentor.
      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.
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    • Profile picture of the author Cideas
      Originally Posted by Laura Raisanen View Post

      I would definitely get a mentor.
      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!!!
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      • Profile picture of the author Cason
        Originally Posted by Cideas View Post

        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!!!
        Actually having a mentor is the best way to fast track your success.
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  • Profile picture of the author Brendon Zahrndt
    With 20k I would seriously consider creating your own product, and then learning how to market the product shortly thereafter.

    You can try to build out a niche site and rank it - but that's dangerous and unpredictable and will remove much of your control over your earnings.

    With your own product you have complete control over most of the variables to your success.

    Hook up with the product creators of the world and study how it's done.

    Remember - everybody is an expert at something. That includes you.

    Find a hungry market and solve their hunger.

    Brendon
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  • Profile picture of the author laurencewins
    Pay me to write articles for you. That is money well spent.
    If you have jobs that need doing but you don't like them or aren't good at them, outsource them to people such as myself so you can focus on your areas of expertise.
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    • Profile picture of the author apeee
      Originally Posted by laurencewins View Post

      Pay me to write articles for you. That is money well spent.
      If you have jobs that need doing but you don't like them or aren't good at them, outsource them to people such as myself so you can focus on your areas of expertise.
      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.
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  • Profile picture of the author pdrs
    build out a few niche sites, don't spend a huge amount (a couple grand will more than suffice to do it real nice) - this will let you test things out see what's converting, what's not, spend a little on training too - but save the majority of it for when you have tested a few ideas and have a much better idea what you're up to! Nothing worse than dropping 20g on your first idea that "looks good on paper" only to find that it doesn't really work out.
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    • Profile picture of the author agmccall
      I would use the search button and read the 1000+ other posts just like yours.

      It is actually a ridiculous question no matter who asks it.

      If you have any amount of money and do not know what to do with it then you should bank it until you decide what is best for your business. And, by the time you read and learn you might not even want to get involved in IM

      al
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      • Profile picture of the author bss2t
        Originally Posted by agmccall View Post

        I would use the search button and read the 1000+ other posts just like yours.


        It is actually a ridiculous question no matter who asks it.

        If you have any amount of money and do not know what to do with it then you should bank it until you decide what is best for your business. And, by the time you read and learn you might not even want to get involved in IM

        al
        Thanks for your criticism but given that this industry changes very quickly...It seems that posts more than 30 days old may be obsolete. Do you think that someone may have a different opinion on the IM world the day after Panda/Penguin than they had the day before? My guess is probably so.

        Thanks to everyone that responded...very valuable information. I am building out my first niche site now, and will use it as a beta for other ventures.
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  • Profile picture of the author nocturnal911
    If i were you..i will start one niche site and get some decent traffic to it and then scale it slowly..I won't spend all the money at once.
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  • Profile picture of the author Kroncept
    a savings account
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    • Profile picture of the author bss2t
      Originally Posted by Kroncept View Post

      a savings account
      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.
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  • Profile picture of the author jfgrissom
    Originally Posted by bss2t View Post

    My first thought is to build out a niche site and rank it. I figure it might take a year to build something worth while, but that is OK with me.

    But there are a lot of people here smarter about IM than me, so...what would you do with 10-20k?
    Hi Bss2t,

    You know this stuff already, but hopefully it is good to be reminded.

    Regarding your idea of a niche site:
    If it's really a niche then the competition should not be hard to beat in most cases. If you focus on very specific phrases with low competition you should be able to get "pages" on a niche site ranked in just a few weeks.


    Regarding your $20K:
    I would focus on building a small (low start-up cost) but profitable site, then use that money to scale up ONLY AFTER you are seeing good ROI on a small investment.

    $1 or $100,000 is all the same when it comes to doing business. If you can't generate positive ROI with a few hundred dollars then throwing a hundred thousand at the problem will yield the same results.

    Regarding anyone beating you up for asking this question:
    You are clearly smart (asking for advice is always smart) so I hope the crap answers like the one AgMcCall offered don't weigh you down.

    @AgMcCall - Did you ever consider; maybe people want to interact with others when they ask questions like this? Isn't this what forums are for? (I'll stop feeding the trolls now :rolleyes.
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    • Profile picture of the author bss2t
      Originally Posted by jfgrissom View Post

      Regarding anyone beating you up for asking this question:
      You are clearly smart (asking for advice is always smart) so I hope the crap answers like the one AgMcCall offered don't weigh you down.

      @AgMcCall - Did you ever consider; maybe people want to interact with others when they ask questions like this? Isn't this what forums are for? (I'll stop feeding the trolls now :rolleyes.
      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.
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    • Profile picture of the author agmccall
      Originally Posted by jfgrissom View Post


      Regarding anyone beating you up for asking this question:
      You are clearly smart (asking for advice is always smart) so I hope the crap answers like the one AgMcCall offered don't weigh you down.

      @AgMcCall - Did you ever consider; maybe people want to interact with others when they ask questions like this? Isn't this what forums are for? (I'll stop feeding the trolls now :rolleyes.
      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
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  • Profile picture of the author Stuart Walker
    Do you think that someone may have a different opinion on the IM world the day after Panda/Penguin than they had the day before?
    Anyone who has an online business that still is reliant on Google for the majority of their traffic is doing it wrong.
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  • Profile picture of the author maximus242
    Do ten small and cheap projects. Out of those ten, find the most profitable project, pump money into it, expand like crazy.
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  • Profile picture of the author twinkenterprises
    I'd get with a dropshipper or supplier who will make the shop for me and fill it with products. I'd promote my store online and offline.
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  • Profile picture of the author hirechrisgunn
    I agree with Brendon, I wouldn't just jump to anything up front. Spend the time and creativity that you would over the next year building that site and implementing it into a product design that you can sell. Then once you have that, invest in guest posting services, media link building, and social interaction to grow your product/brand.

    Hot niches are liquid now a'days, and it'd be best to find something you know will work, works, and is a great product that solves a problem - then take it up to the next level.
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  • Profile picture of the author Bill Hugall
    Get a mentor and get to work. With that kind of money you could take WSO's by storm. heading to clickbank and on. Funny thing is that you would hardly put a dent in that money following this process. Someone with your background would truly get and understand the whole process as it works much like the business model you are used to.
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    • Profile picture of the author Stuart Walker
      Originally Posted by Bill Hugall View Post

      Get a mentor and get to work. With that kind of money you could take WSO's by storm. heading to clickbank and on. Funny thing is that you would hardly put a dent in that money following this process. Someone with your background would truly get and understand the whole process as it works much like the business model you are used to.
      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.
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  • Profile picture of the author Osman_M
    1. Get a mentor.
    2. Pocket away $18,000 into a savings account.
    3. Start building a list with a simple squeeze page.
    4. Use $500 to get a sleep product made (product, sales letter, backend and etc)
    5. Use $1500 to drive traffic to your squeeze page and into your sales funnel.

    This will be a good starting point and then build out your business from here.
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    • Profile picture of the author TheEye
      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
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  • Profile picture of the author 100k
    WF noobs = Get a mentor, build a list.

    LOL
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  • Profile picture of the author onegoodman
    If you do have that much money, and you don't know where to start. Please, keep your money on your bank account.
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  • Profile picture of the author alvinchua91
    With that money, definitely be a product creator!
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  • Profile picture of the author Cleberl1
    Trust me, I made this mistake in the past. If you are not 100% about what doing with this money, first of all try to learn and read everything about making money online. And only later that you are sure and confident that you business will be profitable, invest this money.

    I already spent $5k in a stupid business and got small profits, don't do like me.
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  • Profile picture of the author John Romaine
    Get a mentor.

    If you have the money to invest, you will save yourself an enormous amount of potentially wasted time.

    Originally Posted by 100k View Post

    WF noobs = Get a mentor, build a list.

    LOL
    Why is the suggestion of getting a mentor funny?

    I know of several multi millionaires that have given me this same advice. I don't see any of them laughing.
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  • Profile picture of the author Evocess
    Product creation will definitely help you reach 10k-20k per month.
    If you don't have the skills or talents to create the product by yourself then find someone that is willing to help you with your project.

    Since you've mentioned that you're not really good with IM well most people in IM studied everything about IM. My suggestion to you is go through a lot of courses that is related to IM maybe a webinar, seminar, etc. or you can find a mentor that will guide you and help you reach your goal.
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  • Profile picture of the author RockNRolla
    If it was me I'd build a lead gen product with a good funnel and then use the money to buy traffic to optimise the funnel. Then get it on some CPA networks.
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  • Profile picture of the author NataliaF
    If I were you, I would start your own project or even set up a company specializing in SEO and Internet marketing.
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  • Profile picture of the author Valdor Kiebach
    Get in on the mobile apps scene quick.
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  • Profile picture of the author nerdy88
    It seems you have a fair amount of money, the worst thing you can do with it at this moment is to blow it all in a club. The best thing is to invest it and probably double it or triple it in a few days.
    There are many safe ways to use your cash and there are risky ones like the stock market. But before you rule out the stocks just check out this site that has information on Binary options World of Wealth

    Now if you see that and you like it, good but there are other ways that you can invest your money. If i were you I would set a little amount aside and invest in the binary option game while i build a one man internet company based on blogsites and freelance writers on a given niche!

    I would also buy domains and make money like a madman by naming cool domains and selling them later. That's because i like to write! but you have to find your strongest field and develop yourself through that!

    I hope this was a little helpful. for more ideas on how to make money visit Nerds With Blogs
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    • Profile picture of the author FredJones
      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.
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    • Profile picture of the author Nightengale
      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
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      • Profile picture of the author PazG
        I'm going to side with Laura. Find yourself a good mentor. Lot's of cash + no game plan = not a very happy ending.

        You can do some major things with that money and the proper game plan.
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    • Profile picture of the author MaximusProphet
      Originally Posted by nerdy88 View Post

      There are many safe ways to use your cash and there are risky ones like the stock market.
      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
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  • Profile picture of the author G0nzalez
    Banned
    Invest in gold.
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  • Profile picture of the author lofiegos
    Agree with most people here. A good plan is the first thing in order not to lose your shirt (in your case 10-20k). Then, you should sitck to the selected business model and learn all about it. Good luck!
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  • Profile picture of the author travlinguy
    Buy an online (or offline) business that's already up and running and can verify earnings. Get the seller to stay on board for 60 or even 90 days until you understand what you're doing. With that kind of cash you might be able to snag two or three healthy positive cashflow enterprises.
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  • Profile picture of the author natebunger
    Invest with me on this web project

    InvestmentProjects.com
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  • Profile picture of the author JPBailey
    Buy my solo ad business, I'll teach you everything!

    1. Figure out what you want to do in IM
    2. Find a coach who teaches that
    3. Invest in training and learn it
    4. Budget a portion for traffic and build a list
    5. Offer them good products. Reinvest profits and grow
    6. Then create your own product because by then you'll know more and have more confidence from actually doing it

    Hope that helps!

    JP Bailey, MA
    Psych Marketer
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    • Profile picture of the author Jill Carpenter
      Originally Posted by bss2t View Post

      But there are a lot of people here smarter about IM than me, so...what would you do with 10-20k?
      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.
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  • Profile picture of the author Sarevok
    Look before you leap.

    I can't think of anything that requires $20k aside from purchasing a business outright or a major guru launch.

    "Start small"-Jim Rohn
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  • Profile picture of the author mayagh
    Definitely Start SLOW, dont put much money until you have results !! and that will take a bot of time, so put it in the bank and put $1000 for now
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  • Profile picture of the author pinkgorilla
    If you have no idea where to start, it may be worth your money to invest in a quality mentor. Or you could look into investing in stocks or forex trading. Or you could look for people who are looking for investors in their business idea.
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    • Profile picture of the author seonutshell
      Originally Posted by pinkgorilla View Post

      If you have no idea where to start, it may be worth your money to invest in a quality mentor. Or you could look into investing in stocks or forex trading. Or you could look for people who are looking for investors in their business idea.
      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.
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  • Profile picture of the author Fazal Mayar
    Create a product launch or just do some good outsourcing for a long term business
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  • Profile picture of the author RogueOne
    Give it to me, of course. I know all the secrets. About $19K should cover the lot.
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  • Profile picture of the author VukasinI
    With that kind of money, start building everything slowly. Flip sites, domains, build few strong projects, build strong social profiles and many more.
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  • Profile picture of the author bwh1
    Seriously, I would only look into building a RECURRING business.

    - Local Niche Directories you can rent space to local businesses
    - If any product creation, then make it a membership site and charge per month
    - Get into the App business
    - Become a Kindle Author with a book serious, publish also as Hardcover

    With money, all above can be outsourced so you have the option to choose what you think suits best.

    And then do a f...ing great research before you spend a real hefty junk of that money for one or more of those projects.

    As some told, if you know the kind of business you like to pursue, getting a mentor can speed up things tremendously

    Good luck

    G.
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  • Profile picture of the author emelef
    Build a list, build a team, create a product. It really depends what niche you want to work in and what you want to do online? Affiliate marketing, network marketing, product creating... or something more techie? But just start somewhere and you don't necessarily need that much money. Put it aside to fund your business over the next year as you learn and grow.
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  • Profile picture of the author Bent SEO
    I'd buy a proven website off flippa and continuously reinvest the cash. You could find a quality proven business profiting 2k-3k a month relatively easily with 20k - spend time looking, do your due diligence and just buy someone elses hard work. Rinse and repeat.
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  • Profile picture of the author Jeff Casmer
    Hello,

    This "mentor" philosophy is interesting. Its been 12 years since I was a "newbie" and back then (if I can remember that far back) I needed one and followed Stone Evans....

    He was helpful for a bit but as most "gurus" are.....they are busy making money....under the umbrella "let me help you make money online". I am okay with that as it gives you a "base" but in the end you need to learn yourself with trial and error...

    This forum is FULL of ideas...

    Just keep reading..

    Best wishes!
    Jeff Casmer
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  • Profile picture of the author misshang
    Focus building your list and sharpen your marketing skills.
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  • Profile picture of the author celente
    I would say

    - MEDIA BUYS

    - PPC

    Do tests and see which will bring in the most, then stick to that. Probably media buys, but some prefer PPC.

    With 10k you could turn that into $20k / $25K fast if you are willing to put some hard work in. Yes, hard work, that thing most people are allergic too. LOL
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