What financial investment is required to make a profit online?
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I can’t be the only person on here whose funds are limited. In your opinion, what is the dollar amount that a newbie needs to invest in his or her business before he or she will see a profit online?
♥ Coach Claire
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I’ve seen folks invest a bunch and not recoup the investment, and I’ve seen some work from a computer in the library and do well. It’s not how much you invest (in money), but how well you leverage the resources available to you.
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Many years ago I tried starting a jewellery business. Those were the days when if you lived in certain areas of the UK the government would all but throw money at you to start a business. That web site cost £5000. It scaresely got any visitors. i could not update it myself despite already having played with Dreamweaver a bit while doing websites for a post grad course. The developer had all the control. It was a disaster zone. That was in the days before WordPress. The fact that I got a grant for it softened the financial blow considerably but I have alwasy stuck to DIY with WordPress since then.
The answer to what financial investment is rquried to make a profit should be vertually nothing. The problem is it takes time to work out how your indidiual design can be leveraged to make a successful business. For example I have struggled as I have moved from one thing to another to another rather than maintaining focus. Ask me to work on a project for 2 months or more and I am sunk. Yet 2 months is not enough time to make much headway so projects sink without trace. Ask me to do a bit of this and a bit of that each day and I struggle. I cope best with one type of activity to focus on a day. So one day a month is money and accounts. Other days are family days.
Wou cannot succeed until you know enough about yourself to succeed. What are you good at? What is your preferred way of working? What actually works for you? Working that out can take time. Sometimes the only way to find out is trial and error. Try someone else’s system see if it works for you if not why not and learn from the experience.
The problem too many of us come out of the sausage factories we call school, college and university hardly knwing ourselves. Then we go into the little boxes called offices where we learn to fit into the shapes created by other people. If we are really unfortunate we are shaped by the bad behaviour of others and end up scarecely able to think rationally. 10 years after a destructive marriage ended I am still trying to work out who I am and what happened to me and around me. It is actually quite scarey thinking about how messed up my ex was, and I presume still is and the ripples that this has had on the people aound him. I was not mad but he drove me part way there with his crazy-making behaviour.
No wonder we cannot be who we were designed to be and do what we were designed to do. It takes time and effort to overcome that programming and find the real person underneath it all. Once we can be who we are designed to be then if we are designed to start and run a business we will be able to do so.
It can work by sheer force of will but not everyone has that kind of strength. I am strong becasue I have survived but that is a different kind of strength to what is needed to be a quick success in business.
Susan
God's Lily is "a voice for those frustrated by the slow progress towards a fair society where the needs of the weakest are met in a way that it strengthens them rather than weakens them further" . If that includes you then hop on over and have a look around. If you like what you see it would be a good idea to sign up to receive our blog broadcasts. Oh and you will get a couple of pdf files that explain the what and why behind the site when
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A few years back, ok, it was probably longer than that, somehow I got on this woman’s email list. She would send out a daily email with a few positive notes and maybe some not so terrible news and then a list of things she thought might interest me. None were her products. I emailed her just to see if she would respond and she did.
She didn’t have a website. She didn’t make any products. She had about 6 or 8 lists, men’s list, women’s list, cat owner list, dog owner list, etc. She just did affiliate marketing.
She didn’t quote dollars, but she did mention daily sales on a list and I am betting this woman made more money than 90% of the people on the internet.
All she was out was her email account.
I am not on her list anymore or she quit. Maybe she bumped me off because I didn’t buy.
So, it is possible to make decent if not good money with little investment. I tried to get my great niece to do this, but she never did.
I told her she was on the internet and facebook all day, she might as well make money at it.Scott Hogue CChH
Scott Hogue CChH
Follow me in the "Use What You Learn Challenge" as I create a website using what I learn from Sean that is a Platform for my niche:
http://www.threestepstowealth.comThe thread on this group that explains it:
http://preneurpal.com/forums/topic/own-the-game-and-win-it/#post-1747 -
I’m with you, Scott. Some folks love social media … why not hire out to manage Facebook for a business? Many need the help.
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It really depends on what you’re willing to live without.
For example, you can get a website on wordpress.com for free. The domain name won’t be as “pretty” as if you owned it yourself, but you could save money by using them.
MailerLite is an autoresponder that lets you have 1000 subscribers before they charge you for anything, and that’s with an unlimited number of emails each month.
PayPal will let you take payments, but they’ll only charge you when you make a sale. In other words, you have to be earning before you pay, and you’ll earn a lot more than they take.
You don’t even have to have a computer or an internet connection. Both are available in public libraries.
So if you’re willing to give up all the “niceties” and stick with the essentials, you can start earning a living online for nothing.
Bruce Hoag PhD
The Internet Marketing Psychologist
The Mindful Writer - for deep and persuasive copy -
If you’re looking for an actual dollar amount, here’s my two cents (no pun intended). What most will tell you are the big three expenses are a domain name ($10), reliable hosting (about $10 a month), and an autoresponder (19 or 20 bucks a month). I use Aweber as my autoresponder and D9 Hosting for domains and hosting (no affiliate plugs here). If you have those three things, you’re in business. I hope that helps.
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Hi:
What you invest has nothing to do with how much profit you make.
You can invest $5000 and make no profit and you may invest $50.00 and do very well. It’s not likely but it has been done.
The thing is, how much time are you willing to invest to learn what it takes to make a profit.
Gregory Bey
1 user thanked author for this post.
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Clair- at least we know you’re making good investment decisions by being in this Community. And I am totally in agreement with those above who say the amount of investment is NOT the issue. Having a decent business model that has been proven to work and then focusing on it until it works for you is the key. Waaaaay too many people buy bright shiney objects one after another to the tune of thousands of dollars calling them an investment they NEED to make to succeed. That just is not true. Decide on what you want to do and focus on that until you get good at it. It’s my opinion that affiliate marketing (there are lots of options within ‘affiliate marketing’) is one of the easier and cheaper ways to get started but whatever you do…focus, focus, focus.
If you're looking for a someone to bounce things off of in the IM world, I'm your guy and I really would love to help you out. Helping others is just who I am!
To Change Your Life Forever check out me out at http://IM-Specialist.com
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Yes, focus, focus, focus! That is so true, Steve. I am so easily distracted by all the many messages, certifications / trainings and shiny objects out there. Sean’s message makes it all so simple, doesn’t it? I’ve dabbled in affiliate marketing, but it’s just not where my heart is. I think Sean’s simple business model is what will work the best for me.
♥ Coach Claire
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I recently got approved for MailerLite, Bruce. Thanks for reminding me. It’s so easy to sign up for things with the best of intentions and never follow through. My challenge is committing to one way and following it through to successful completion. It’s so much easier than I make it.
♥ Coach Claire
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Claire, if you’re not doing it already, use Chrome as your browser and install the Momentum extension.
It will put your To Do list right in front of you every time you open a new tab.
Bruce Hoag PhD
The Internet Marketing Psychologist
The Mindful Writer - for deep and persuasive copy
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Great to see so many ideas from the trenches about how to get started . . without much outlay . .
hint: I would love to see a “shostring” training pop up in the world 🙂
Talk about a huge need . . and no one teaching it!
Sean
Do you want to learn how to start a coaching program that stabilizes your income and changes lives? If so, visit http://www.AnyoneCanCoach.com
Sean
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Hi Sean,
I was wondering if I could ask you to explain what you think shoestring training would be please.All things Digital
For Training https://www.onlinenowtraining.com/
For Services https://digitalmia.com/ -
Tina,
to me shoestring training would teach:
How to set up a business on a shoestring . . .
it might specify that even a shoestring needs, say, $200 upfront and $50 a month, whatever.
Or you could give 2 options . . one cheapo with critical instructions to upgrade infrastructure (decent hosting, decent AR) ASAP
And show how to get traffic on a shoestring
how to create a squeeze page on a shoestring
how to create pages on a shoestring
how to advertise on a shoestring
how to create a download page on a shoestring
And so on . . .
Sean
Do you want to learn how to start a coaching program that stabilizes your income and changes lives? If so, visit http://www.AnyoneCanCoach.com
Sean
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Thanks Sean, interesting 🙂 I have just been approved to use a expensive platform and allow my students to use it for free for 6 months and this would cut down a cost but give them awesome tools, so maybe this is something I will look into soon.
All things Digital
For Training https://www.onlinenowtraining.com/
For Services https://digitalmia.com/
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I think a lot of people – myself, included – think that it takes money to make money. Since entering adulthood, I’ve never had access to a lot of money and never have I made very much money at all. To my mind, money is scary and when I go there, I feel like I have to have the money and things like everyone else that I see online. I have not met anyone who has started out with absolutely nothing. If they don’t have “money,” they either have a job, someone who is funding them or an opportunity given to them by someone who does have “money.”
That is the way that this world works, it seems to me.
That being said, working hard is a person’s greatest resource. Always have I worked harder than anyone that I know, but still do I have nothing to show for it. Sean always says that this is because I am putting all my time and effort into the wrong things.
Thus, the time has finally come for me to put all my time and effort into the right things!
♥ Coach Claire
Discover the joy in every situation...
FREE full reading of your choice - for members only!
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Claire,
You have no idea how many dead ends I’ve encountered. I should be working for a mapping company. LOL
Bruce Hoag PhD
The Internet Marketing Psychologist
The Mindful Writer - for deep and persuasive copy -
This may be shocking but I think $100 will get you a return on your investment and maybe a little profit.
I am not talking about job replacement income but something that can put some money in you pocket and be scaled to a full time income.
I am launching a product this weekend, that is a case study of a product I picked up last week that talk’s about doing everything for free. But the product creator forgot about the cost of listing you products on these platforms. That’s why I said $100.
After the launch I would like to post it in this forum, gratis of course!!
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The Exact Blueprint He Used To Go From $0 Online To Millionaire Marketer In Just A Few Months! Get My FREE Guide.2 users thanked author for this post.
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Tina
the thing is, someone starting out doesnt’ need that many tools
all they really need is hosting, an AR and the ability to make word docs, pdfs, that kind of thing.
Folks don’t need much to start (I didn’t and could do it all over again with just those tools to start)
Sean
Do you want to learn how to start a coaching program that stabilizes your income and changes lives? If so, visit http://www.AnyoneCanCoach.com
Sean
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