Best way to invest $1000

by mikeal
25 replies
If a newbie had a $1000 to invest in getting started in online marketing, how would you advise them to spend it?
#invest
  • Profile picture of the author Phil Steptoe
    In my opinion, save it.

    You shouldn't need to "invest" money in anything and in 90% of cases, I would personally be skeptical of someone claiming that you did. Work hard, build a following, release great stuff, and money will follow you.
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  • Profile picture of the author NatesMarketing
    Learn how to use an advertising platform like Facebook or Adwords - invest your money in learning one of those systems.

    Learn how to properly test and optimize your conversion rates with that form of traffic.
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    • Profile picture of the author Phil Steptoe
      Originally Posted by NatesMarketing View Post

      Learn how to use an advertising platform like Facebook or Adwords - invest your money in learning one of those systems.

      Learn how to properly test and optimize your conversion rates with that form of traffic.
      This is definitely in the 10% of exceptions that I would make. Facebook, Adwords, POF, etc.

      Learning ROI is the real key with these. Set yourself up with a tracking software like Prosper and get to work testing. $1,000 is great starting money for this.
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  • Profile picture of the author adetutu
    In my opinion, I would suggest you save the money and wait till you are ready. Being ready means, focussing on one particular method till you are good at it.e.g.PPC or FB marketing. So that your money would not go to waste.

    Just make sure you hang out on this section of the forum and learn more. You can use the search function to learn anything you can ever thought of in internet marketing.Even if you want to model an internet marketer, just use the function I mentioned earlier.

    Good luck
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    • Profile picture of the author mikeal
      Originally Posted by adetutu View Post

      In my opinion, I would suggest you save the money and wait till you are ready. Being ready means, focussing on one particular method till you are good at it.e.g.PPC or FB marketing. So that your money would not go to waste.

      Just make sure you hang out on this section of the forum and learn more. You can use the search function to learn anything you can ever thought of in internet marketing.Even if you want to model an internet marketer, just use the function I mentioned earlier.

      Good luck
      Hi there and thanks for the comments.
      One thing I am curious about though is how you focus on a particular method of traffic generation like Facebook or PPC without spending some money on testing. Learning one of these methods and creating a campaign that gives you an ROI will take testing which in turn will take funding.
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  • Profile picture of the author Tim Franklin
    Some good advice in "some" of the preceding posts, Spending money to make money, is not likely to help a lot at least not until you have some knowledge, You don't have to be an expert, indeed I am not sure if there is such a thing anyway. Knowledge, with some elbow grease, a willingness to learn and take some initiative.

    I have seen a lot of people that spend tons of money but they do not have the knowledge to know what is a good purchase and what is a bad one, (in fact you have to be careful what you do choose to purchase) If you have some practical real world experience start there, every one has some thing they can apply to IM, in some way.
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  • Profile picture of the author JensSteyaert
    Before thinking of spending that money, just make sure you have a setup ready. With this i mean a system that allows you to make a positive ROI.

    Just set up something like this:
    -> Squeeze page to capture email addresses
    -> Funnel with quality content and promotions in the backend

    If you have this set up you can start thinking of sending traffic to that funnel. Then it's just a matter of testing until you can make your funnel profitable. You have a good budget so that should work out fine.

    Good luck!
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by mikeal View Post

    If a newbie had a $1000 to invest in getting started in online marketing, how would you advise them to spend it?
    I'd advise them to keep about $930/$940 of it in the bank, and set up an affiliate marketing business.

    I did that, myself, for about $60/$70, and there wasn't ever a point at which spending an extra $1,000 would have made my income faster, larger or more secure. It's really not necessary (and certainly not advisable) to spend any more than that, to set up something from which you can earn a living.

    You need a domain-name, hosting (not necessarily pre-paid for a year) and a paid autoresponder subscription for a month or two, to get going. That's all you need to pay for.

    (If I'd had $1,000 to start with, instead of $60/$70, I'd probably have spent all the rest unnecessarily, too.)

    In financial terms, the entry-barriers to a successful internet marketing business are astonishingly low. The educational ones (knowing what to do and how to do it) are far higher, but the necessary education's all available free, too.

    .
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    • Profile picture of the author mikeal
      Originally Posted by Alexa Smith View Post

      I'd advise them to keep about $930/$940 of it in the bank, and set up an affiliate marketing business.

      I did that, myself, for about $60/$70, and there wasn't ever a point at which spending an extra $1,000 would have made my income faster, larger or more secure. It's really not necessary (and certainly not advisable) to spend any more than that, to set up something from which you can earn a living.

      You need a domain-name, hosting (not necessarily pre-paid for a year) and a paid autoresponder subscription for a month or two, to get going. That's all you need to pay for.

      (If I'd had $1,000 to start with, instead of $60/$70, I'd probably have spent all the rest unnecessarily, too.)

      In financial terms, the entry-barriers to a successful internet marketing business are astonishingly low. The educational ones (knowing what to do and how to do it) are far higher, but the necessary education's all available free, too.

      .
      I guess the barrier to entry is very low but having said that, the failiar rate is very high! So maybe using some of those funds to educate and find out how to avoid costly mistakes might be an option.

      It is true also that help is available free of charge but often times when you are new, you may need that little bit more.
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      • Profile picture of the author Alexa Smith
        Banned
        Originally Posted by mikeal View Post

        I guess the barrier to entry is very low but having said that, the failiar rate is very high!
        Yes indeed - the failure-rate is pretty high (whoever's figures you believe) but I don't think that's because people are underfunded.

        If I'd had $1,000 when I started, I really don't believe it would have helped me at all.

        Originally Posted by mikeal View Post

        So maybe using some of those funds to educate and find out how to avoid costly mistakes might be an option.
        I suspect not, for most people, most of the time - because at the start, when they have no experience and little judgement, they're not going to know what to spend it on anyway, and will probably just prolong their failure-cycle by buying lots of WSO's or whatever. Call me a skepchick, but I don't think that's going to help most people to get started. I bought a huge number of WSO's after I'd been making a living for a few months and found myself - almost invariably - thinking "How lucky I was not to have been able to afford this stuff when I started". There are some good ones, too, which can help some people, I know ... but when you're just starting off, you have no possible way of knowing which are which, and the "testimonials" don't typically help you to do that.

        Originally Posted by mikeal View Post

        It is true also that help is available free of charge but often times when you are new, you may need that little bit more.
        Sure ... you may, but how you can find it reliably is something I still haven't worked out yet. It seems to me that most of the people offering it (for a fee) are themselves graduates of the Urban Myth School of Internet Marketing, and selling "information" to newbies is their only way of raising a penny online.
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  • Profile picture of the author Randall Magwood
    Originally Posted by mikeal View Post

    If a newbie had a $1000 to invest in getting started in online marketing, how would you advise them to spend it?
    I would use it to make more money from the link in your signature. To be selling something online and promoting a website that teaches how to make $100+ a day... you should already know the answer to your question.
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    • Profile picture of the author mikeal
      Originally Posted by Randall Magwood View Post

      I would use it to make more money from the link in your signature. To be selling something online and promoting a website that teaches how to make $100+ a day... you should already know the answer to your question.
      Cute..

      I didn't know there was only one answer..
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      • Profile picture of the author Lurk
        Originally Posted by Randall Magwood View Post

        I would use it to make more money from the link in your signature. To be selling something online and promoting a website that teaches how to make $100+ a day... you should already know the answer to your question.
        Originally Posted by mikeal View Post

        Cute..

        I didn't know there was only one answer..
        SMH, Ok

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    • Profile picture of the author lgibbon
      Banned
      Originally Posted by Randall Magwood View Post

      I would use it to make more money from the link in your signature. To be selling something online and promoting a website that teaches how to make $100+ a day... you should already know the answer to your question.
      That's an affiliate site.
      It's the person that sent him here that's doing the earning.
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  • Profile picture of the author michakins
    Well, if you're a newbie then forget about making quick money on the Internet! Know beforehand that it takes at least a year before you can start seeing any worthwhile results. It's like a real estate. You're building a web property. Rome wasn't built in one day.


    For capital, there's no fixed or appropriate capital. Start with what you have at your disposal and better tools will start coming your way. Also, stay around the wise guys on forums and don't be afraid of contacting top influencers and having them as your mentor.
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  • Profile picture of the author markgaperl
    Spend money on getting yourself a website. Ask yourself what you are most interested in and research more about that topic. This would possibly give you clues on what people are looking for in your area of interest. That defines your playing ground. Now use your skills and passion to provide the seekers what they are looking for. Don't have to rush in to start charging the seekers yet but provide them with the information that they need for free to earn their trust. You can slowly recommend products or you could create one yourself. Now you are seeing some money coming. Invest that you expand your operation and keep growing it.
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  • Profile picture of the author miklanderson2
    There are some good guides out there, but you could conceivably blow the whole thousand on guides that are full of information that can be found here for free...and be left no smarter than you would have been had you of used the "Search" function and spent a couple days reading up on topics you find interesting.

    I didn't have the money to buy a bunch of guides when I was first starting out. The handful I did buy ended up being huge disappointments. The best part of most of guides I've purchased ended up being the sales letter.
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  • Profile picture of the author tecHead
    Originally Posted by mikeal View Post

    If a newbie had a $1000 to invest in getting started in online marketing, how would you advise them to spend it?

    I love questions like this...

    Firstly, probably the best advise you've gotten so far has been from Tim and Alexa; (no surprises there). See, they're both giving you the "seasoned" answer. They've (probably both) spent a considerable amount of money that they regret spending... just like me, back in the day. But, then again... if I hadn't spent it.. I wouldn't have the ability to sniff out BS WITHOUT investing in it, now.... so, I guess its a Zen kinda thing.. involved detatchment.

    That being said... I get where your question is coming from though. 3D Business 101 dictates that you can only MAKE money by SPENDING money. Thing is.. this ain't the 3D Business world. Only recently has the Internet started to even think about listening to Business 101... and that only seems to be due to heavy influence to conform to the newest pioneers... Corporate America... but, I digress...

    When WE first started out, there was nothing really to buy... 'cause nobody had created it, yet! The whole "selling information" thing came about 'cause there were a lotta folk that hit the net AFTER "us" that wanted/needed to know what we did to cultivate the commercial Internet... so, more than likely you're gonna get the answer of, "you don't need no stinking money to get started"... which; in some cases is true BUT in some not so true.

    I know a guy that hit the net with $4K and turned it into a mint with strategic alliances and savvy aquisitions... dude didn't know diddly about "Internet Marketing", when he started... but, that's him. I know others that have spent thousands and are now tryin' to figure out how to maintain their rent.

    Point is... there is NO one size fits all answer... depends on YOU and what you're bringing to the table.

    So yeah... I'd tell you the same thing Alexa told you ... don't spend it. Hold on to it; you might need it for something else later. OH.. and pay a little LESS attention to those that tell you, "if you try to go this on your own, you're gonna fail" or whatever negative energy they can throw at you. Some don't really mean any harm but you gotta realize that you CAN NOT play the game if you're NOT willing to lose. You can only learn by failing, IMHO.

    My Mama always told me... "You wanna make it by hustling? Then you gotta have rubber bumpers on your ass!"... and that's what "this" is... hustling. Being an Entrepreneur is about making money appear where others can't see it.... it ain't for everybody...

    Good Luck
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    • Profile picture of the author mikeal
      Originally Posted by tecHead View Post

      I love questions like this...

      Firstly, probably the best advise you've gotten so far has been from Tim and Alexa; (no surprises there). See, they're both giving you the "seasoned" answer. They've (probably both) spent a considerable amount of money that they regret spending... just like me, back in the day. But, then again... if I hadn't spent it.. I wouldn't have the ability to sniff out BS WITHOUT investing in it, now.... so, I guess its a Zen kinda thing.. involved detatchment.

      That being said... I get where your question is coming from though. 3D Business 101 dictates that you can only MAKE money by SPENDING money. Thing is.. this ain't the 3D Business world. Only recently has the Internet started to even think about listening to Business 101... and that only seems to be due to heavy influence to conform to the newest pioneers... Corporate America... but, I digress...

      When WE first started out, there was nothing really to buy... 'cause nobody had created it, yet! The whole "selling information" thing came about 'cause there were a lotta folk that hit the net AFTER "us" that wanted/needed to know what we did to cultivate the commercial Internet... so, more than likely you're gonna get the answer of, "you don't need no stinking money to get started"... which; in some cases is true BUT in some not so true.

      I know a guy that hit the net with $4K and turned it into a mint with strategic alliances and savvy aquisitions... dude didn't know diddly about "Internet Marketing", when he started... but, that's him. I know others that have spent thousands and are now tryin' to figure out how to maintain their rent.

      Point is... there is NO one size fits all answer... depends on YOU and what you're bringing to the table.

      So yeah... I'd tell you the same thing Alexa told you ... don't spend it. Hold on to it; you might need it for something else later. OH.. and pay a little LESS attention to those that tell you, "if you try to go this on your own, you're gonna fail" or whatever negative energy they can throw at you. Some don't really mean any harm but you gotta realize that you CAN NOT play the game if you're NOT willing to lose. You can only learn by failing, IMHO.

      My Mama always told me... "You wanna make it by hustling? Then you gotta have rubber bumpers on your ass!"... and that's what "this" is... hustling. Being an Entrepreneur is about making money appear where others can't see it.... it ain't for everybody...

      Good Luck
      I guess there is not a straight forward answer available to this question. Looking at what you bring to the table will obviously highlight your short comings and this may be the area to focus on.

      I did think though, if we are talking strategy and planning, that there may well be a way of preparing that in a style that is the same regardless of what is brought to the table. (A bit like a step by step blue print).

      Another school of thought might be to invest in a coach that can teach you a proven plan.
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      • Profile picture of the author tecHead
        Originally Posted by mikeal View Post

        I guess there is not a straight forward answer available to this question. Looking at what you bring to the table will obviously highlight your short comings and this may be the area to focus on.....
        no offense, but it seems like you're a prime candidate for "analysis paralysis".. stop talking about it and BE about it!

        best advise I can give you...
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        • Profile picture of the author image89
          I would suggest staying on this forum for awhile and reading the free information that is available. And after you have found a good method that will show you how to make money online, then carefully invest in it.
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  • Profile picture of the author Tim Franklin
    Best Deal for the money on the Warrior forum, Is the WAR ROOM....

    Its a One stop shop, slam bam thank you for the coffee ma'am, Getting your info on radioactive spot for learning all about IM, There are lots of former WSO products that are in there, Lots of Free products, Good advice.

    But, keep in mind that you could end up spending tons of your time and money in there as well.

    Just remember its all about the Hansel and Gretel effect,

    Dont Eat the House.
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  • Profile picture of the author Joe Lumbergh
    If I would have to start from scratch with a 1000$ I would spend it on the following:
    - Webhost
    - wordpress plugins (optimize press, landing page plugin, optin page, etc)
    - market analytics, software like marketsamurai
    - Maybe get some coaching, find a trustworthy coach

    save some of it for more domains and hosts, maybe join a MLM and promote it
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  • Profile picture of the author TopTier Profits
    $1,000 isn't' really much at all, but I'd recommend you learn some basic copywriting, and get a subscription to an autoresponder.

    Create a squeeze page (or two) (Aweber will host it for free, otherwise I recommend LeadPages) test, tweak then test some more. Get the conversion to as close to 50% as possible, then invest into a ready made, converting sales funnel (or license one).

    People make Internet Marketing harder then it needs to be. Over the years, I've mastered tons of different methods from SEO to PPC but by far, email marketing is the way to go.

    Buy Traffic ---> Squeeze Page ----> Sales Funnel ---> Automated Follow-up

    Rinse and repeat. It's long term and SCALABLE.

    Eventually, you will be left with a decent sized list, which if built correctly, will continue to make you a (reasonable) return for years to come.
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  • Profile picture of the author RichardGB
    As it said, don't invest in anything, even in very bright projects. But if you really want to invest somewhere, try out sock market and put some money in the shares of your well known company. For example, I really interested in gaming industry and I know for sure that Blizzard Activision will launch a new update to WoW and their incomes would raise for sure, so if I were you, I would buy some BA shares. BUT it is only my opinion and that's not mean that income would raise rapidly for sure. Try out your own sphere of interest.
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