I'm new and I've mooney to spend whats the best route to go down?

by Lubo25
38 replies
I've extensive business experience but I'm new to the online world.

Contemplating throwing a few thousand dollars at a project or two but can't decide the best route.

Forums and threads on here all appear to be conflicted in what works and what doesn't.

Is coaching a positive route or are these guys simply creating a sale for themselves on that service or are there guys here that people would recommend?

Any feedback or ideas welcomed.
#mooney #route #spend
  • Profile picture of the author GetBack2it
    You'll probably have a lot of people telling you coaching is a good idea. I wouldn't be surprised if your inbox gets flooded with PM's from people offering to be your coach.

    IMHO, I would not recommend a coach. There is a wealth of knowledge out there and guess what, it's all free.

    First and foremost, You need an niche, idea, and a plan. How do you plan to monetize this idea? CPA, PPD, Afilliates, etc...

    Finding out the competition and keywords to go after is also an important step. No need to go after something that is over saturated and has tough competition your first time around.


    If you are looking for ideas or feedback on an idea, or just want some help in being steered in the right direction. I have no problem helping for free. No need to hire an expensive coach. I've seen it time and time again, they will promise they can make you all this money and truth is if they could they would just do it themselves. It's just easier to take someone elses.
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    • Profile picture of the author MatthewM
      When I started out. I was a lot like you..

      I had a few dollars to throw @ ppc and throw I did indeed.

      I lost my shirt the first few campaign but I did have the satisfaction of seeing some sales come in.

      I slowed my roll just a bit to learn how to target keywords near the end of the buying cycle.

      The best thing about having money is you can get results in speed. Negative or positive results.

      Start by jotting down things that interest you then research the market place. Look at your competitors, keyword competition, possible vendors, etc

      Blogging is the best way I think to gain some experience at running a website and learning now to target keywords for your content.

      Many new people think the best way to make money online is by selling money making products. This is a mistake but it does happens all the time. The blind leading the blind.

      Just build a blogs around things you are passionate about or else what you do becomes work.

      Experience will lead you to bigger and better things.

      I wouldn't recommend coaching until hit a plateau or gain some experience and looking for guidance to help you along to the next level. If you choose coaching be careful. Make sure you find someone who has a good track record. Remember what I was saying, the blind leading the blind. This happens in coaching as well.

      Other option is to find a few people who have the same goals in mind as yourself. I still work with a few people I met online when I first started in 2004. We help each other out share Idea and build friendships that will never fade.
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    • Profile picture of the author Brendon Zahrndt
      Originally Posted by GetBack2it View Post

      You'll probably have a lot of people telling you coaching is a good idea. I wouldn't be surprised if your inbox gets flooded with PM's from people offering to be your coach.

      IMHO, I would not recommend a coach. There is a wealth of knowledge out there and guess what, it's all free.

      First and foremost, You need an niche, idea, and a plan. How do you plan to monetize this idea? CPA, PPD, Afilliates, etc...

      Finding out the competition and keywords to go after is also an important step. No need to go after something that is over saturated and has tough competition your first time around.


      If you are looking for ideas or feedback on an idea, or just want some help in being steered in the right direction. I have no problem helping for free. No need to hire an expensive coach. I've seen it time and time again, they will promise they can make you all this money and truth is if they could they would just do it themselves. It's just easier to take someone elses.
      Sure.

      You can get most information needed to run a successful business for free.

      That doesn't mean you'll do it.

      Better yet, that doesn't mean you'll do it quickly.

      Isn't your time worth anything?

      Coaches are certainly worth it if they:

      A) Teach you how to successfully achieve your desires
      B) Get you to do it faster than you other wise would through accountability

      The rest is on you. But a coach is the right way to go if you don't have months and years sifting through the trash for a good bite to eat.

      My mentor has a mentor. And his mentor has a mentor.

      It's the way it works and if you have had previous success in business than you know this to be true.
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      • Profile picture of the author dewayneboyd
        Originally Posted by Brendon Zahrndt View Post

        Sure.

        You can get most information needed to run a successful business for free.

        That doesn't mean you'll do it.

        Better yet, that doesn't mean you'll do it quickly.

        Isn't your time worth anything?

        Coaches are certainly worth it if they:

        A) Teach you how to successfully achieve your desires
        B) Get you to do it faster than you other wise would through accountability

        The rest is on you. But a coach is the right way to go if you don't have months and years sifting through the trash for a good bite to eat.

        My mentor has a mentor. And his mentor has a mentor.

        It's the way it works and if you have had previous success in business than you know this to be true.
        Completely false. I had no mentor and am successful. Keep it real, man. You can't judge the whole world through your one experience. No smart person is going to recommend coaching as a first step. He should at least be learning the ABC's first. Then, when he decides what he wants to do, he can get a coach that meets his specific needs if he really needs one for a specific problem. Otherwise, he is just going to randomly choose someone who may not help him with what he needs to learn.

        "Just hire me as your coach, newbie. I'll make you successful!" LOL.
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  • Profile picture of the author Story
    This is an extremely vast knowledge vault, and no doubt that one would suffer from information overload after reading countless information on making money. Mind you, be very careful of which information you are taking. Many of them will cost you time and money.

    While some does not agree with going for a mentor, I have to say that going for a mentor is probably the safest way. Of course, there are plenty of mentors who have no idea what they are doing.

    So, the most important thing is to find a good mentor with good track records.
    One of the guys in the forum who have helped me greatly is Bill Hugall(I don't get anything for recommending him).

    Perhaps you can take a week or two, and learn up some of the basic stuffs in internet marketing world. From there, you can decide which path best for you.
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  • Profile picture of the author Regional Warrior
    Originally Posted by Lubo25 View Post

    I've extensive business experience but I'm new to the online world.

    Contemplating throwing a few thousand dollars at a project or two but can't decide the best route.

    Forums and threads on here all appear to be conflicted in what works and what doesn't.

    Is coaching a positive route or are these guys simply creatingBest think to do is ge
    Any feedback or ideas welcomed.
    I would start by geting a War Room membership here on the forum It will be the best Information you will get and learn from the Pros in the process
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  • Profile picture of the author Joe Mobley
    Originally Posted by Lubo25 View Post


    Is coaching a positive route
    It can be.

    Originally Posted by Lubo25 View Post


    are these guys simply creating a sale for themselves on that service
    Again, it can be. Let me suggest though, that charging for a service is not necessarily a bad thing.

    The second biggest problem I see here is that you are not sure of the best route. When you don't know where you are going, no road will get you there.

    Your biggest problem may be that you have money to throw at your second biggest problem.

    Joe Mobley
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  • Profile picture of the author PerformanceMan
    Originally Posted by Lubo25 View Post

    I've extensive business experience but I'm new to the online world.

    Contemplating throwing a few thousand dollars at a project or two but can't decide the best route.

    Forums and threads on here all appear to be conflicted in what works and what doesn't.

    Is coaching a positive route or are these guys simply creating a sale for themselves on that service or are there guys here that people would recommend?

    Any feedback or ideas welcomed.
    Don't 'throw' money anywhere. If you think like that you're going to 'throw' it out the window or into the garbage.

    Start very small with one thing and keep detailed notes. There's no advantage to spending a few thousand dollars when you don't have a friggin' clue what to do first.

    You don't need a coach, you need basic learning and practice.

    The 'easiest' thing to do is build a list. You can start with a small squeeze page and an auto responder and a PPC campaign of $5 per day.
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  • Profile picture of the author Danny Cutts
    The easiest way to get started is to find a topic you know and love as you will be spending a lot of time on it so you may as well enjoy it.

    Dont waste money on WSO just get stuck in and start blogging...

    Danny
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  • Profile picture of the author DeanJames
    @Lubo - Essentially, just as in the offline world, online marketing involves selling a product or service either as an affiliate or as a product owner. In a forum such as this, you are going to get conflicting opinions, advice and information so you need to decide what YOU want to do and the method (or methods) you are going to utilize in order to achieve that goal. Having money to invest just means you can reach that goal more quickly providing you test and tweak over time. Good luck!
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  • Your thread title:
    Originally Posted by Lubo25 View Post

    Re: I'm new and I've money to spend whats the best route to go down?
    Your statement:
    Contemplating throwing a few thousand dollars at a project or two but can't decide the best route.

    You have studied the ways of the Warrior Forum well,

    and have unlocked the secret to attracting the vultures.

    Well done young grasshopper!


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  • Profile picture of the author daftdog
    Originally Posted by Lubo25 View Post

    I've extensive business experience but I'm new to the online world.

    Contemplating throwing a few thousand dollars at a project or two but can't decide the best route.

    Forums and threads on here all appear to be conflicted in what works and what doesn't.

    Is coaching a positive route or are these guys simply creating a sale for themselves on that service or are there guys here that people would recommend?

    Any feedback or ideas welcomed.
    First off welcome to the warrior forum and Im sure that your inbox will be full.
    A mentor in any field, business or art can always be a good thing...
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  • I would learn SEO or video SEO and then higher a V.A. from the Philippines to do all the work. All you need to learn is the basics, pick a sub-niche and have them rinse and repeat campaigns until you dominate that sub-niche.

    Then move on to the next.
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  • Profile picture of the author Fazal Mayar
    Start building a wordpress blog by buy hosting and domain and from there you will learn a lot about the online world.
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    Blogger at RicherOrNot.com (Make Money online blog but also promoting ethical internet marketing)

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  • Profile picture of the author hustlinsmoke
    If your just coming into IM and want to throw a few thousand dollars around, I'm a good catcher so just throw.

    If your a smart person you will use the money to learn the business, if you had experience I would give you ways to invest the money but from talking to you I will give you the best advice I can.

    Pocket your money and put it in your money market, 401 k or whatever you have because with your question you will never make it in the Im world.

    Harsh isn't it. Well review your question then think about what you wrote.
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  • Profile picture of the author Josh Anderson
    Start with a small equal budget and outsource the same product development project to two different freelancers or teams. (not a lot and stick to your budget)

    Pick the winner and throw more money at it. (not a lot and stick to your budget)

    Then launch your product.

    Then be amazed when your brain begins to flow with additional product ideas.

    This education will be far more valuable than any course or coaching program regardless of how successful your product is.

    Then you will be ready for careful investment in your business and education.
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  • Profile picture of the author Jen Eick
    Well, count me in as one who will say that a mentor or coach is your best bet.

    That said, I do NOT provide or recommend, for the purpose of receiving an affiliate commission, a mentor or coach. I had good luck with one, mainly because there was so much information being thrown at me, when I first started studying IM, and I was confused on how to get started, step by step. A mentor really helped break that down for me.

    That said, we all learn differently. But personally, I would save your money, except for the coaching option, if you decide it's for you. You'll be grateful once you find out that the basics really only include buying a domain name, website hosting, and an autoresponder....and possibly, down the road, webinar and/or membership site hosting capabilities.
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    • Profile picture of the author Lubo25
      Thanks for the various comments folks, they have contributed to helping me make decisions on best way forward although the offer below which I received I think I'll file in complete chancer category...

      i have a better idea.
      Its funny you mentioned you have some money to invest in a business because just today i was thinking of seeking someone who may want to invest in a start up online. Perhaps your financial resources and my study in the internet can provide both of us an income. I'll manage/supervise the business while you fund it. The caveat is it will be more than a few thousand for commitmet due to unforseen expenses that may arise. The biggest problem to most businesses is that they are undercapitalized. I dont want that problem before we even begin.Let me know it this interest you.
      Thanks
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  • Profile picture of the author MKCookins
    If you have the money to invest, paying for a mentor/coach would be the fastest route to success.

    There are several different methods to make money online, and several different ways to drive traffic to your website. So what works for one person, might not work for the next as well.

    With that being said though, everyone who is successful in internet marketing all do the same basic stuff which is:

    1. Find a profitable market where people are spending money
    2. Find people that are interested in that subject matter, and collect their email addresses to get them on their list
    3. Monetize their list with either a product they have created, or promote one that they have found (affiliate marketing.)

    Hope this helps
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  • Profile picture of the author svetod
    If you are serious about making money online, you should try generating leads by doing PPC. That's the fastest and safest way to make money. It also brings great results in the long term.

    Any questions, let me know!
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    • Profile picture of the author Lubo25
      Originally Posted by svetod View Post

      If you are serious about making money online, you should try generating leads by doing PPC. That's the fastest and safest way to make money. It also brings great results in the long term.

      Any questions, let me know!
      Thanks I'll look at that.
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  • Profile picture of the author blib
    Originally Posted by Lubo25 View Post

    I've extensive business experience but I'm new to the online world.

    Contemplating throwing a few thousand dollars at a project or two but can't decide the best route.

    Forums and threads on here all appear to be conflicted in what works and what doesn't.

    Is coaching a positive route or are these guys simply creating a sale for themselves on that service or are there guys here that people would recommend?

    Any feedback or ideas welcomed.
    I don't think you need to throw anything like a few thousand dollars at it until you know what 'it' is.

    It's really easy to spend a lot of money, thinking you're making real progress, but you could be literally throwing your money away, rather than 'at' something.

    Get some quality education. Learn from people who have already had the success that you're looking for and emulate them.

    There are a lot of successful internet marketers on this forum, and you can learn a great deal from them. But you'll need to invest time rather than money, reading through their posts.

    I think coaching can certainly work, if for no other reason than it suddenly makes you accountable to someone. But it can be very costly, even if you do have a few thousand dollars.

    And you need to know first that the coach is right for you, and has the experience and success necessary to guide you towards your new goals.

    I hope that helps and I wish you every success online.

    Trevor
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    • Profile picture of the author myob
      I'm new and I've mooney to spend whats the best route to go down?
      Being new and having money to spend.
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    • Profile picture of the author Nightengale
      Joe Mobley and Trevor have given you some of the best advice on this thread.

      Your question -- or at least the way you've phrased it -- indicates a serious lack of decision, direction, and focus.

      Unlike most Warriors here, I'm do NOT advocate trying to build a biz using completely free methods. You don't have to spend a lot of money, but you do need to spend SOME money. Website hosting and a domain name come to mind...

      Where you should invest most of your money in the beginning is in your IM education. I ALWAYS advise people to invest in at least one comprehensive A-Z IM course. It will save you a TON of frustration and headaches. Do NOT try to build an online business from $7 e-books!

      Generally, you don't need to spend ANY money before you've decided what kind of online business you want. Basically, you need to know:

      1. Your business model (Will you sell a product, service or membership? Will you sell your own products or services, or someone else's as an affiliate?)

      2. Your niche (Are you going to sell model trains, info about how to pass the SAT/ACT, or whatever...?)

      3. Your target market (WHO will you sell to?)

      You don't need to spend ANY money to do the research and make those decisions. What are your interests/hobbies/passions? What kind of business do you want to be in? Who will you sell to? Who's already serving that market? Who would your competitors be? Etc.

      Once you know all of that, THEN you can start dumping money into online marketing methods. Your best best is to invest in at least one comprehensive IM course. Jeff Walker is about to launch Product Launch Formula 4.0. I HIGHLY recommend you get it! You can get on the list at ProductLaunchFormula.com

      Another good course is Elevate by Ali Brown at ElevateBizTraining.com

      Then follow the steps!

      Hope that helps!

      Michelle
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      • Profile picture of the author Lubo25
        Originally Posted by Nightengale View Post

        Joe Mobley and Trevor have given you some of the best advice on this thread.

        Your question -- or at least the way you've phrased it -- indicates a serious lack of decision, direction, and focus.

        Unlike most Warriors here, I'm do NOT advocate trying to build a biz using completely free methods. You don't have to spend a lot of money, but you do need to spend SOME money. Website hosting and a domain name come to mind...

        Where you should invest most of your money in the beginning is in your IM education. I ALWAYS advise people to invest in at least one comprehensive A-Z IM course. It will save you a TON of frustration and headaches. Do NOT try to build an online business from $7 e-books!

        Generally, you don't need to spend ANY money before you've decided what kind of online business you want. Basically, you need to know:

        1. Your business model (Will you sell a product, service or membership? Will you sell your own products or services, or someone else's as an affiliate?)

        2. Your niche (Are you going to sell model trains, info about how to pass the SAT/ACT, or whatever...?)

        3. Your target market (WHO will you sell to?)

        You don't need to spend ANY money to do the research and make those decisions. What are your interests/hobbies/passions? What kind of business do you want to be in? Who will you sell to? Who's already serving that market? Who would your competitors be? Etc.

        Once you know all of that, THEN you can start dumping money into online marketing methods. Your best best is to invest in at least one comprehensive IM course. Jeff Walker is about to launch Product Launch Formula 4.0. I HIGHLY recommend you get it! You can get on the list at ProductLaunchFormula.com

        Another good course is Elevate by Ali Brown at ElevateBizTraining.com

        Then follow the steps!

        Hope that helps!

        Michelle
        Thanks for the course recommendations Michelle.

        Do you have recommendations for where best to buy a domain and hosting?
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        • Profile picture of the author blib
          Originally Posted by Lubo25 View Post

          Thanks for the course recommendations Michelle.

          Do you have recommendations for where best to buy a domain and hosting?
          If you are going to have a few sites, it's worth looking into a reseller account.

          They're not complicated, and it means you can host as many sites as you want, with a constant fixed cost.

          I use Hostgator for my 'global' domains, and Heart Internet for my UK domains.

          As for buying domain names, I use Namecheap for my international domains and 123-reg for my UK domains.

          Cheers

          Trevor
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      • Profile picture of the author blib
        Originally Posted by Nightengale View Post

        Joe Mobley and Trevor have given you some of the best advice on this thread.
        ..

        Hope that helps!

        Michelle
        Thanks Michelle :-)
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  • Profile picture of the author GetBack2it
    Your first mistake already was telling people that you have a few thousands dollars to throw down.
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  • Profile picture of the author Randall Magwood
    Start with some cheap advertising to see if your idea and landing pages convert well. This will let you know whether or not you should continue in the niche, or if you should scrap it and go into a different niche.
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    • Profile picture of the author Nightengale
      I use HostGator.com to host my sites and GoDaddy.com to buy domain names. (Do NOT host your sites with the same company you buy your domain names from!)

      If you're ready to buy an IM course, I STRONGLY recommend Jeff Walker's PLF. He's releasing it tomorrow and will only keep it up for a few days before taking it down, so if you're ready, buy it NOW.

      One of my mentors wisely told me: "Invest well in good training and information. Then build the biz on the cheap." Excellent advice!

      Hope that helps!

      Michelle
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  • Profile picture of the author cupcakemonster
    I'd honestly forget that I had any money at all and approach the IM world as someone who needs to totally bootstrap everything. I'd do that for at least a month, focusing on sussing out free information from all corners of the web and building up my online business as cheap and as efficient as possible.
    After a month or two, I'd look at my progress and see which areas could really improve with some funds and then start the investment from there...
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  • Profile picture of the author joan2009
    Invest on your IM education first. You could loose your money if you don't know anything about IM business
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  • Profile picture of the author maidenim
    I for one invested in a coach and my results have been very good. The biggest thing you have to get over is that the coach is not going to do everything for you. Sometimes we might think Ok I'll get a coach and the coach will make me money. But in reality the coach is there to help and guide us along. We have to take the proper actions that the coach gives us and then we can profit. This is the route I took and I'm taking action and results are coming. So I do recommend getting a coach only because I did.
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  • Profile picture of the author webrankingservices2000
    Banned
    Originally Posted by Lubo25 View Post

    I've extensive business experience but I'm new to the online world.

    Contemplating throwing a few thousand dollars at a project or two but can't decide the best route.

    Forums and threads on here all appear to be conflicted in what works and what doesn't.

    Is coaching a positive route or are these guys simply creating a sale for themselves on that service or are there guys here that people would recommend?

    Any feedback or ideas welcomed.
    What kind of business have you done?

    If you have been successful with offline business, then the best thing to do is go ahead and scale it online. Work on your strengths instead of learning new things and getting lost. Most of the people fail here because they get fascinated with information overload and they do not take action
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  • Profile picture of the author Moneymaker2012
    If you have good money to invest you should get a attractive site, start creating your own products in any niche and build a list, You can advertise more and more for sales.
    You can do even more of marketing with ppc ect.
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  • Profile picture of the author dewayneboyd
    No one can tell you exactly which route to go yet because we don't know your skills. Most people fail at doing joint ventures. But if you have the right kind of personality, you could possibly make a killing at it. For most people, though, this simply isn't going to work. Otherwise, there would be a lot more of these gurus that people talk about.

    PPC is extremely risky. You could easily blow your entire load. It's sort of like buying lottery tickets. If you want to go this route, I would have a high-dollar upgrade or at least a scaled product or service (such as buying gold or whatever) where you have the potential of making thousands and thousands of dollars off of your best customers. Otherwise, your conversion is going to have to be so big that you will have a hard time ever making your money back.

    The best route to go if you are really serious and in for the long haul is to find a niche that is going to get you at least some traffic in the search engines for every page you make. Then, create a site around that niche with massive amounts of content.

    So if and when you determine that you can make X dollars per page, you will be taking at least an educated risk at paying someone X amount of dollars per page to create the content for you. The model for this is Demand Studios (eHow.com, etc.), but they probably paid entirely too much per article. Of course, the owners probably did it to go public and get rich, anyway. But we are talking about actually making a profit here, not IPO games.

    If you want to go the route of creating a site like this, but you aren't willing to put in the work and testing and figure out what niche is profitable to begin with, then none of this means anything. There's no easy path to easy money unless you just hope to get lucky.
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  • Profile picture of the author TallyDon
    Instead of focussing on what works, what doesnt work, etc. Try to find a specific problem (maybe a subject in which you personally or professionally are involved in) and offer information, insight and solutions.
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  • Profile picture of the author clever7
    Originally Posted by Lubo25 View Post

    I've extensive business experience but I'm new to the online world.

    Contemplating throwing a few thousand dollars at a project or two but can't decide the best route.

    Forums and threads on here all appear to be conflicted in what works and what doesn't.

    Is coaching a positive route or are these guys simply creating a sale for themselves on that service or are there guys here that people would recommend?

    Any feedback or ideas welcomed.
    Don't be impatient. You have a lot to learn. Don't do anything before really understanding what you are doing.
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