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I have a lump sum of money to invest - advice?

by daveskey69
19 replies
I was hoping to get some advice from the wise people on this site, so here goes.

All being well, I should have a lump sum of money coming my way - about £3000 which is just under $5000

I don't necessarily want to use it all, but I was wondering what options might be available for me to use this money to make money. My mind is leaning towards buying a ready made website as I don't really have enough time to devote myself to a big project. What advice could someone give me on purchasing a ready made site as it seems a bit of a minefield.

Any other advice on what to do with the cash would be greatly appreciate.

Cheers,

DAVE
#advice #invest #lump #money #sum
  • Profile picture of the author writeaway
    Head straight to the War Room here on WF. Don't get gimped into a mentoring or 'guru' program (roll eyes) before you've cut your teeth on how online promotions work. There are TONS of resources in the War Room. They are FREE. Enjoy and Welcome!
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    • Profile picture of the author littledan
      Originally Posted by writeaway View Post

      Head straight to the War Room here on WF. Don't get gimped into a mentoring or 'guru' program (roll eyes) before you've cut your teeth on how online promotions work. There are TONS of resources in the War Room. They are FREE. Enjoy and Welcome!
      I totally agree. I have been an online entrepreneur for over 5 years now. In the early days I paid nearly $8,000 to become a student of a very well known American guru. it was an utter waste of money and actually ended up costing me a lot more money and setting the business back by at least a few years. There is plenty of free and very cheap information you can source right here and from other high authority sites that will start your learning and help improve your understanding. Just be prepared to make loads of little mistakes that won't harm you too much, and learn from them. Always remember; failure is not an end, it's a reason to keep trying!
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  • Profile picture of the author artflair
    I'd suggest to invest in learning about email marketing (if you haven't done so already) and than growing your list. With that kind of money you can grow your list real fast.
    Good luck
    Art
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  • Profile picture of the author Anthony J Namata
    I don't think I would buy a ready-made site. Look to your passion, first. What is it you desire to work with, in so far as selling online and making money goes? Consider something you would enjoy doing. And then find out if it is viable. Whether there IS potential to make money. Hold onto your money. Take your time to do the research before you go throwing your money away. You'll be glad you did.
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  • Profile picture of the author Paul Myers
    Yeah. Pick a business model and read enough to understand at least the basics before you spend a dime of it. And do NOT respond to anyone who approaches you about "mentoring," via PMs or otherwise.


    Paul
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    Stop by Paul's Pub - my little hangout on Facebook.

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    • Profile picture of the author georgedinmore
      Originally Posted by artflair View Post

      I'd suggest to invest in learning about email marketing (if you haven't done so already) and than growing your list. With that kind of money you can grow your list real fast.
      Good luck
      Art
      This is what i would do. Build up email lists in different niches and build the relationship with them.

      Originally Posted by Paul Myers View Post

      Yeah. Pick a business model and read enough to understand at least the basics before you spend a dime of it. And do NOT respond to anyone who approaches you about "mentoring," via PMs or otherwise.

      Paul
      I SECOND THAT, this is very important.
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      *edit

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  • Profile picture of the author daveskey69
    thanks for the advice guys.
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  • Profile picture of the author ahanasingh
    Invest in share market or in property
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    Hi.. I am Ahana.. I am a writer
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  • Profile picture of the author amcg
    Originally Posted by daveskey69 View Post

    I was hoping to get some advice from the wise people on this site, so here goes.

    All being well, I should have a lump sum of money coming my way - about £3000 which is just under $5000

    I don't necessarily want to use it all, but I was wondering what options might be available for me to use this money to make money. My mind is leaning towards buying a ready made website as I don't really have enough time to devote myself to a big project. What advice could someone give me on purchasing a ready made site as it seems a bit of a minefield.

    Any other advice on what to do with the cash would be greatly appreciate.

    Cheers,

    DAVE
    If you want to start a business but don't have time, do something you're passionate about outside work e.g. you could buy some inventory and start selling a product or run a service based operation like a consultancy.

    Otherwise, buy a mutual fund or some bonds i.e things that will grow your cashpile that you don't need to think about.
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  • Profile picture of the author powerofschool
    First of all. Ask yourself that in which field you have little bit interest.
    For example if you have interest in Shopping, You can select any particular Topic and develop a good website And promote affiliate products with amazon or click bank.
    It definitely works.

    Remember Always one thing!

    If Content is King! Marketing is Queen!


    Without Marketing nothing will happen, if you have really a good website also!

    You can also buy one ready made website from others in your interested topic and start promoting it.
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  • Profile picture of the author popstocks
    Banned
    Invest it all in a stock LNG. Going to $100 in 2014.
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  • Profile picture of the author Moneymaker2012
    You have a good sum of money to invest, you can build blogging network.
    Create niche sites, drive traffic and apply for adsense to increase you earnings.
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  • Profile picture of the author ClaudiaIM
    Invest in a mentor who is making the type of money you want to make or invest in mastering a skill. Once I learned how to drive traffic online it allowed me to create income at will.
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    • Profile picture of the author seoboyz01
      Hi,

      Starting a new online business is bit risky. And it need lots of experience. It will take time to set it up and it will shrink all your money.

      My advice is to go with a ready made business. You can buy any established website for $3000 - $4000 those are making $500 per month. Check out once at flippa.com .Verify all the past earnings and business status of the website.

      Once you confident about it just buy and start making some money from the 1st month.
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      Google DOMINATION SEO service - Take your site 1st page of Google.
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  • Profile picture of the author Marketeranas
    Hi !

    First , you need to evaluate yourself , in which thing you are preety good at ? Second , you need to get proper information about that . And third you need to implement it for making the most of it ! No body can tell you more better than your self ? So speak to yourself , evaluate and then go for it for making cool
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    ==> Tired of Struggling for traffic ? Want more traffic ? Highly Targeted ? <==
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    • Profile picture of the author digitalpimp
      From your time on the warrior forum you must have been more inclined towards one business model or the other. Take the time to learn the intricacies of the business before jumping in. I would suggest you stay away from anything depending solely on search engine traffic or any one website for traffic. Consider paid traffic as its fast and infinitely scalable.
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  • Profile picture of the author oilpaint
    Purchase a high ranking blog site and maintain its rank...definitely you will continuously earn money there.
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  • Profile picture of the author tyronne78
    Find a subject/topic you're passionate about and monetize it. Another thing, make sure the market you dive into consists of buyers. You'll also need a platform (website) to sell your products on, products to sell (sell other people's stuff first) and a way to get paid (shopping cart,payment processor,etc). You're already in a good position because you have plenty of startup captial to start an online business. One thing I can't stress enough is passion. Find a topic you're passionate about. The reality is you're business will have ups and downs. So if you have an interest in what you do it'll be easier to run the business when things aren't going as planned.

    Paul Myers is right. Beware of people who sell coaching. There are tons of courses out there that will teach you the basics of starting an online business.
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    Visit my blog for FREE direct response marketing tips & tricks
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  • Profile picture of the author bobson8788
    Originally Posted by daveskey69 View Post

    I was hoping to get some advice from the wise people on this site, so here goes.

    All being well, I should have a lump sum of money coming my way - about £3000 which is just under $5000

    I don't necessarily want to use it all, but I was wondering what options might be available for me to use this money to make money. My mind is leaning towards buying a ready made website as I don't really have enough time to devote myself to a big project. What advice could someone give me on purchasing a ready made site as it seems a bit of a minefield.

    Any other advice on what to do with the cash would be greatly appreciate.

    Cheers,

    DAVE
    Invest on building your list. Building your list is THE MOST IMPORTANT THING YOU CAN DO IN INTERNET MARKETING
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    Learn all about starting an online business here: The Online Business Post
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