Where's the big money?

[dirtbag]

Big money is in being the boss/owner. Doesn't matter what industry you're going into. THAT is your common theme.

 

[spruitje]

Well, someone with 2 million dollars would not invest in a measly bank account.. Mutual funds in India/Brazil might draw draw 20% per year on the lower side. You could invest in gold/silver or other commodities or get into some private equaity fund!

Basically I agree with the first part but the second is just not true. The first rule in solid investment is diversify, the mutuals can get you these returns but they only pay this because the risk is high. Spread the money into diferent things or risk losing it all. Furthermore I can tell you right now that most private equity funds have had a REALLY low roi the last couple of years. Aside from that most of them will still take a generous fee even if they lost a shitload of your money. My advice would be to invest your money yourself and only in things you know. This can be anything from stocks to setting up small local businesses. But ofcourse this requires starting capital to invest in the first place.

I still think the big bucks are made by people that have a good idea, set up their own shop, start small, work hard & smart and also have a bit of luck. If you play your cards right the shop will grow into an enterprise and you'll be able to cash out by selling it. Then buy your own island and drink caipirinhas with your hot wife knowing that you are set for life.

 

[Roparadise]

Well, someone with 2 million dollars would not invest in a measly bank account.. Mutual funds in India/Brazil might draw draw 20% per year on the lower side. You could invest in gold/silver or other commodities or get into some private equaity fund!

"Investing" in gold isn't the best way to make money with gold, the best way to make money with gold is to start a "Cash for gold" business,many of them only pay 20-30% of the value of the gold in an item. Then you sell it to a smelting company which can pay up to 60% for the gold.

 

[hispdcha]

I think if you want to make big money you can't just stumble into it. You have to have two things.

#1 - Want it and work hard. You have to want it so bad that you'll do anything for it and will work harder than anyone else to get it.

#2 - Have a plan. Serious business people/investors/VC's require a plan. You have to map out your idea into a logical business proposition. There's a reason Project Managers make big money, they can see the plan and make it happen. Do you have a plan? And how are you going to make it happen?

One of the next big businesses is going to be the Marijuana industry imo. Get in on the ground floor of that behemoth, and you'll make big money. How? You can make big money with an idea or a product. Come up with some ideas and then create your product and sell it to the masses.

Also, an idea can be sold as well. What's your idea? Who do you want to target? How will you get in front of your audience? How will you make money off your idea?

Edit: One last thing. You have to make your money work for you. When I was a kid my dad owned a convenience store/gas station. We were sitting at home and watching TV and this commercial came on for some infomercial selling MLM type shit. My dad laughed and looked at me and said: If you want to make money, you have to have your money working for you, not working for money. I'm making money right now watching TV because I have my money working for me. That's how you make real money.

 

[thedon23]

While Virus has a good point, we have to also be realistic. Chances of starting the next big thing like Groupon are SLIM, especially if you lack the resources. I'm not saying it isn't possible, but if you don't have the resources, it's going to be 99% luck. So work your way up the food chain.

 

[MiLiTARYiV]

Yeah good advice. ^^

Personally if i made $2m I'd stick it in a bank and quit working forever....No need to make tens of millions.

I said $50k month because most think $60 day is BIG money on here.

Thx virus!

most it is. Probably I would say about 85% of people on this forum barely makes that a day

 

[dgaunn4114]

This idea that it is "impossible to make big money" is ridiculous. I mean like what if there was a mail order company, and you were given all their best marketing pieces, and then told to just send them out... could you make money then?

What's most important if you want to make money is your PASSION for the idea. If you have true passion for one area or another, then you won't stop until you are successful in that area, and the same is true in business.

That being said, if you want to be successful, get an idea, go try it, tweak it and come back and improve it until you make it works. I mean, I had one business idea, I called 600 groups before I got one I worked with solidly...but now I know the right way to get these people beggin for MY approval, and once you can do that, you can literally
write your own check.

It's not the "industry" or your "area" or the "economy." It's YOU. You either make it work, or give up, but you never blame anyone but yourself for what happened... Forbes did a study on this. The number one difference between someone who failed in business and then went onto succeed, and someone who failed in business and never did any better, was that the ones who went on to succeeded blamed THEMSELVES for their problems...and the ones who failed blamed someone or something else.

 

[Roparadise]

If you want to become wealthy do not think of gaining alot of wealth,set low goals and keep reach them then set a new set of goals and reach them and so on.

 

[BassTrackerBoats]

The big money is in golf... when one of those guys wins a tournament they get a check about 2.5 feet by 6 feet... now that is big money!

 

[Mutikasa]

big money is in:
1. raw materials - everybody needs those. Oil, minerals, rare earth metals.
2. luxury goods - rich people want those and are prepared to pay just for the status

 

[mickyfu]

Yes i do think some affiliates make much more than this but i do think it's very hard and unstable. And these people pis** themselves because they make $10 a day....LOL. Come on.

Asking your question, I would guess you are not even making the $10 a day.

 

[Mr Ex]

You can make a shit load of money with media buys. There's competition yes, but also there's enough traffic for everybody. Besides, it has entry barriers so not every Tom and his mom can jump in and take a cut from your share, like seo etc. You need a strong budget and have to know what you are doing. Once you get that, you can bank huge. There are people banking 100k a day using co reg with media buys.

 

[Mutikasa]

There are people banking 100k a day using co reg with media buys.

nice, what is co reg?

 

[BlueTurtle]

Yeah good advice. ^^

Personally if i made $2m I'd stick it in a bank and quit working forever....No need to make tens of millions.

I said $50k month because most think $60 day is BIG money on here.

Thx virus!

$2m isn't enough for a comfortable retirement if you're under 40, especially if you keep the money in the bank.

In the UK inflation is currently higher than the bank's best interest rates. I don't know how it is in the US, but I doubt it's much better. You'll maybe get 1-2% above inflation.

So after inflation you'd have $20k to $40k per year before tax. Pretty crap really.

If you decided to dip into it and take $100k/year then you'd run out before you hit 50 depending on your current age. Even at that, $100k/year isn't a lot. $50k/mo is $600k/year, so $2m would be just over 3 years at that level of income.

If you put your $2m to work you could easily make $50k/mo for the rest of your life though.

With $2million in the bank,at a modest 1% interest rate,you could withdraw $5,000 per month for 40 1/2 years before you would run out of money.

How do you work that one out? $5k/mo is $60k/year. $60k of $2mil is 3%

So he'd have $1667/mo.

Inflation in the US averaged 3.16% in 2011 and in the past 12 years it's averaged 2.55%

So if you can average 3% interest on your savings account you'll get a delicious 0.45% income which is $750.15/mo Oh, and that's BEFORE tax

I just realized you said "before your money runs out", so yeah, that would work, but if he's 30 then he'll run out of money at 70 If he lives till 90 then he's going to be struggling for another 20 years of life after living on $5k/mo for the last 40 years

OP I think your attitude is wrong. Big money is everywhere - also IM, but it takes time.

You say Adsense is not big money? There are people who make $100K+/month with Adsense... And yes, one day they started with $50 bucks/month

There are people making $100k/day with IM never mind per month. The big money is in advertising. I know many who are into advertising in a big way and they consider $3k/day small-time advertising funds.

The creator's of farmville, zynga were investing $1mil/day in facebook advertising at one point. I don't know what they're doing now, but it'll be a lot since they're worth about $7bil.

We can't all go as big as zynga, but even reaching $10k/day on fb ads and making 200% returns you'll be doing $10k/day profit or $3mil/year. That's pretty big money

 

[seolabs82]

big money is everywhere. just it's how smart you are.
right now, real estate is the king! like site flipping.
sells so fast & 1000% profits.

 

[TripleBeamDreams]

300 niche sites each bringing in 200 dollars per month = 60k/month. Target product keywords that people are frequently buying. Amazon converts like crazy. Start ordering articles and shoot 3-5 BMR posts to every page. Each site should have 4-6 product pages and equally as many "information pages" without any affiliate links.

I start seeing profit after 2-3 weeks on every new site I put up. A demographic tip is to target females between 18-40.

 

[BlueTurtle]

big money is everywhere. just it's how smart you are.
right now, real estate is the king! like site flipping.
sells so fast & 1000% profits.

Real estate is the king? What? Is this 2007?

 

[seolabs82]

It's where (country )you sell it.

Real estate is the king? What? Is this 2007?

 

[bertbaby]

i think owning a forex brokerage would be an easier way? Yes some make big money but most lose. I do no think "gambling" fits into my stress fre big money plans. Although having someone trade fx for me is a good investment. thx

Big money is always a gamble in either money or time. If you are adverse to risk you can rule out money investments. Frankly, if somebody is killing it with an IM technique they are not about to share with the rest of BHW. You are going to have to innovate to make the big money and it's a long shot at best.

 

[illfounded21]

I always think that one should never aim solely to go out and attempt to make 'big money'. Rather, one should aim to be the most successful business operating in the field, with 'big money' occurring as a by-product of this success.