Why get Wealthy Online

by Eric 90

Posted: 13 years ago 31 replies

PERSONAL DEVELOPMENT

Hey Warriors,
I Want to ask you guy's a seriouse question especially on an Online Forrum. I understand, that no everybody wants to get Wealthy on here, but the ones that do out of all the ways you cane reach Wealth in you're life, why have you choosen Online Entrepreneurship. I mean you actualy should diversify you're portfolio and Online would be just like 25 ore even less percent of my income. But what about the stock market, Real Estate and other Businesses. I personaly believe that most of the Online Business don't last longer than 10 years so I am investing all the money I make Online directly in Other Erias, I don't even touch that money fore tax benefits. SO what about you what else have you got going fore you...I hope I could challenge some beliefes and thoughts..
Eric

#online #wealthy

Andrew O

13 years ago

I also think outside investments are a smart idea. The way I see it is this:

The internet can be an absolute cash-cow if you do it right. In other words, you can create a business with a powerful stream of cash flow. That business then has the financial strength to buy many more assets, such as real estate, equities, or even other businesses.

That is, IMO, the best way of our time to create massive wealth.

Thanks
1 reply

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buckeyes09

13 years ago

Originally Posted by Andrew O

That's what I want to do. I want to become successful at IM during the next couple of years and use the money and skills to start offline businesses.

Thanks

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Eric 90 13 years ago

@ Andrew, That's exactly, how I see it. I cane have a powerfull Synergie using an Online Business as an Wealth creating Strategy.
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Kurlie 13 years ago

For me, it's all about freedom. Being able to make a living online means I can live where I want and work when I want. I'm not tied down to a regular schedule and I don't have to live where I can get work in my field when I'd rather live somewhere else. I don't have to ask for time off to do things with my friends and go on spontaneous trips. I make more money in less time and I can help others create the same lifestyle also. It's win-win!
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JustinDupre 13 years ago

Online is the best and cheapest way to start something big. We are living information age so I pick this industry because it gives me the flexibility, financial freedom and etc. owe it to affiliate marketing!
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DavidG 13 years ago

You're right. We should diversify. But we need to stay focus on one area, no matter what we do. If we split into another expertise like Stock Market that needs ones attention from early morning when stocks are open for trade untill the night when stocks close up, then failure could occur as there are only 24 hours a day.

regZ
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Kurlie 13 years ago

I agree that the biggest enemy is loss of focus. I've had it happen too many times to me. I spend too much of the very little time I have on too many different things with nothing to show for the effort. I've decided that I have to focus on what it is I really want and then go for it. It's way too easy to get distracted.
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JingQuimPo 13 years ago

Diversify the business. You get the best of 2 worlds.
Me and my partners, 75% of the business are online and 25% are offline. And the 2 businesses are 100% unrelated.
But the offline are the ones who needs more attention. A brick and wall store but because we enjoy owning it, we're still keeping it.

Jing Quimpo
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NestZone 13 years ago

Taxes and especially the Inland Tax revenue are fast becoming Vultures on businesses, So online businesses remains a save haven and only depend on what you declare for registered businesses.
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Alfredo Carrion 13 years ago

Don't put all your eggs in one basket, and do something you love to do
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Mercy Grace 13 years ago

I also tend to think diversity is not a bad idea. Personally I have a passion for real estate and have already made some investments there. Just follow your passion and learn to manage your time well.
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GiveAndBeRich 13 years ago

Mark Twain said put all your eggs in one basket--and watch that basket.
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- Eric 90 13 years ago
  
  Great Awnsers.
  I think you realy have to Focuss on one eraia first. No matter which eria that may be. And ase soon ase you're making Money you cane switch to another Strategie of Wealth Creation. I have a Passion fore Real Estate aswell and I am working in getting into that to. By the way just because the stockmarket is open from 9-5 doesn't mean you have to be there all the time. Using features you cane make arraund 20% in 20 to 30 Minutes Trading 5 days a week. Not that mucht time and you don't have to wait like in SEO.
  But you need different thinks in yoou're Portfolio like I said before.
  
  Thanks
  
  1 reply
  
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  David Sneen 13 years ago
  
  Eric, I think Kurlie has the right idea.
  
  You mention several alternative businesses where many have made fortunes. But, they are highly risky. The stock market-many have lost their life's earnings there. Real estate was once a good investment. It appears to be a very checkered investment now.
  
  You are absolutely correct when you say many have lost online. Why? They haven't done what Kurlie is doing. Research, plan-and then devote yourself to achieving that plan. The thing I like about working online, as opposed to those other fields you suggest is that, by working online, you can change the odds. By planning and working to achieve-spending time on your blog-SEOing it, and following recommendations of others in the know to get traffic and monetize your efforts, you can change the odds to work in your favor.
  
  Thanks
  
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  David Sneen
  It's what you do when no one is watching
  that determines what you will be able to
  do when everyone is watching.
  
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Janet Scettrini 13 years ago

This is right. The internet is full of money, yes. You have to think about diversity though. It's like an investment portfolio.

J
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- Eric 90 13 years ago
  
  That's exactly it, Online Earnings are just part of you're Income Streams and Portfolio, this is Investing
  
  Thanks
  
  1 reply
  
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  rragsdale 13 years ago
  
  I am using the internet for my cash flow at present - which in turn is fueling my other investments.
  
  Thanks
  
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markfreedom 13 years ago

There's a lot of opportunity online and there's no need of capital only a little investment needed and you have the opportunity to get rich.
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- success4all 13 years ago
  
  Interesting post, Eric.
  
  Diversification is definitely a good strategy. But focus is more important when you are just starting out.
  
  Also if you do not already have skill set or expertise in a given field there is also a learning curve.
  
  Leaveraging on the other hand will enable you to scale up in the same niche/business without the extra learing cureve or too much additional investment:
  
  If you are a vendor, you can leverage by adding an affiliate program for your product/service.
  
  If you are an affiliate, you can work with a vendor who offer 2tier or multi tier programs and add sub-affiliates under you that can bring additional income without any additional work on your part other than introducing affilaites under you.
  
  Thanks
  
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DIGITALCHAMELEON 13 years ago

But not all people having ventures online gets their success still many of them failed, proof that in what ever filed you are as long as you have the focus and you are deserving there is always wealth and success ahead.
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wburgos72 13 years ago

Working solely online is allowing me to provide for my family and have time with them.
To me there is no better feeling than being able to spend time with my kids.
I love working online so much that my 12 year old son has just started to learn about affiliate marketing and blogging so he can make some money to buy his Xbox games.
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WhiteStarlight 13 years ago

Eric, I personally do believe, that online business can last longer than 10 years. It's just any other business you have to improve it, make new products or available options for customers. But you shouldn't add useless upgrades, just for the sake of upgrade. Try to think as a customer, what he would like to see. For example if u do sell some software books online, maybe u should add some hard drives, monitors to your store also
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stopper 13 years ago

That is thought provoking. Getting rich online definitely involves working smart
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billm75 13 years ago

How many are actually getting rich vs. those just making money? I want to creats a revenue stream to build true wealth, not just pick up a few extra bucks here and there. I have an offline sign and decal biz that I operate by myself and it makes money but hasnt made me rich
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janicelou 13 years ago

I just wanted to say.... That is a great question. Too many people are asking "how" to get rich online, before they ever ask "why" get wealthy online.

When you know "why", I promise you will be more motivated, more connected, and more committed.

Great Question! The answer is very unique for each person but I highly recommend everyone know their own answer....(if it is your goal)
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melltonroper 13 years ago

It depends if you're passion is online business and you have the knowledge and expertise on how to run it perfectly then there is a great chances of success, not all people doing online business become successful many of them failed.
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Falknersjf 13 years ago

Online earning is not a strange job now, more and more people are beginning to do business on the web.
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dorianjohn425 13 years ago

Make yourself the boss of your own...do online business
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scsheldon33 13 years ago

Thanks for the share got some new insights from the posts...
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PatrickP 13 years ago

Stock market to me is legal gambling and I don't gamble.

I have 7 houses and probably will not buy another one unless we hit bottom which IMO we are still another year or two away.

For me what is left is online. Both actual physical products I sell as well as IM which I am just getting into.
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harancans 13 years ago

Becoming wealthy is really a blessing. People desire for it. Thank you for sharing.
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