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$10,000, 2 employees & ready to crush

Discussion in 'Making Money' started by x2ski, Apr 16, 2012.

  1. x2ski

    x2ski Newbie

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    Hi All,

    I've been working on a little web startup for the past 18 months. Unfortunately, we're on a bit of a hiatus as one of our back end guys totally flaked out, so we're interviewing to find new talent in order to continue the build out.

    Anyway, we've estimated that we're still a few months out from launch, depending on when we bring more talent on board. In the meantime, we want to research other avenues where we can bring in revenue.

    Currently, our office has myself (a strong writer & very hard worker), one sales/social media guy (great phone skills & very hard worker) and a front end designer (great designer). We can also invest as much as $10,000 into the IM world if need be, and dedicate ourselves to it full time.

    As of now, I'm considering writing an eBook and/or creating a membership site that could quite possibly turn the weight loss/fitness niche on its head and putting it on ClickBank, but i would love to hear what all you BHW experts suggest.

    I'm sure some of you will suggest PPC, but we are all complete n00bs when it comes to that stuff; however, if that's the way to go, we'll figure it out and take action.

    Let me just ask you this:

    Knowing what you know now, if you were first starting out and had the human/financial resources that we have, how would you proceed?

    Thanks a bunch for any advice, and if you have any questions or need more details, don't hesitate to ask.
     
  2. jaspersevilla

    jaspersevilla Newbie

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    My question is... how much experience do you have in IM, writing books or running a membership site?
     
  3. x2ski

    x2ski Newbie

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    The startup is going to cater to small businesses, helping them become known as the best in town for whatever products or services they provide, while more actively engaging and rewarding their loyal customers. It's a twist on all of those "best in the city" voting competitions that take place annually through various media outlets all over the country.

    Regardless, the startup doesn't really have anything to do with what we're trying to accomplish here. We've already established a solid social media presence and have attracted interest from businesses all over the country. It's gonna happen... we just need to finish the product.

    As I said in the OP, in the meantime we want to explore the possibilities of IM. I'm not going to throw $10,000 at just anything, and would prefer not to spend anything at all. I was just thinking that having access to these funds might give us the opportunity to find something that works and scale faster than someone starting out and unable/hesitant to pay for something as simple as hosting etc.

    FWIW, I'm not a complete n00b to IM in general, just PPC. I was a successful online poker player for 7 years (before burnout) and dabbled in a few online ventures to mix things up. All told, I brought in about $30,000 over perhaps 3 years working on stuff very part-time (maybe 2 hours a week); however, I've been out of the game for a couple years, and what works and what doesn't is constantly changing, so I certainly need to brush up.
     
  4. x2ski

    x2ski Newbie

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    See my response to Dopeland re: IM experience, but to go into further detail, I find what others want, create a site, write great copy, drive traffic and provide great customer service.

    My biggest winner was a site for the super affiliates of online poker to advertise on. It was a directory of sorts where the affiliates were listed in order of their bid for each month.

    I have never written a book, nor have I run a membership site.
     
  5. PhillipsPierce

    PhillipsPierce Junior Member

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    Hey,

    I would suggest you invest money and time in to PPC. I'm big on PPC (and all paid traffic) and IMO it's the primary avenue t go if you are looking to build out a solid business online, whether affiliate, product, or etc.

    As for weight loss, the market is great -however what you need to differentiate on is product. Product differentiation is key in a market that's hit on a daily basis with new guys pumping out product. Also, from personal experience I would suggest direct banner buys over adwords PPC if you are going in to that market. The addressable audience is much more fragmented in this market and you will need to reach them through a variety of channels, but PPC IMO, if you're going after that market, isn't the best place to start.
     
  6. x2ski

    x2ski Newbie

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    Thanks for the tips. Like I said, I'll look more into PPC if it turns out it's the best way to go.

    My idea for a weight loss product is pretty differentiated. Although I'm not a certified personal trainer or anything like that, I know exactly what works, can tell it like it is, and create a program that anyone can do and see results from. No magic pill, just solid results.

    Regarding banner buys, I assume you mean via forums and high-traffic blogs, correct? It's definitely a good option, as opposed to giving up 75% to sell it on ClickBank, but through ClickBank I'd have an army of affiliates selling, so I'd be going for volume, but there's no reason I can't do both, right?
     
  7. PhillipsPierce

    PhillipsPierce Junior Member

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    You can do both.

    However as someone who has run a fairly high profile clickbank product before I can tell you that gathering an army of affiliates is no easy task. The ones that count -the guys who will push you REAL volume are not as easy to attract and I know how many thousands of dollars can go in to getting these guys on board using various methods of positioning your program and reaching out to them. It's not as simple and I've easily sinked in multiples of $10,000 doing that on a platform, which quite frankly leaves a lot to be desired. IMO the effort and money is better spent building one on one relationships with forum/site and blog owners to get the word out (and coming up with your own affiliate offer that makes sense to them on your own terms)

    You can combine all these channels, in fact, you should as you move ahead, but I wouldn't have high expectations for CB unless you have significant capital to invest in to attracting affiliates on there -because marketing to the affiliates that matter can employ an entire department by itself.

    I suggest you look in to PPC and banner buys for several small test runs.
     
    • Thanks Thanks x 1
  8. x2ski

    x2ski Newbie

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    Great advice... Thanks!
     
  9. mrsix

    mrsix Power Member

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    Sounds to me like you'd be better off doing some online/offline deals...
     
  10. x2ski

    x2ski Newbie

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    You mean offline marketing to small businesses, helping them become more prominent online? I've done that in the past for a couple friends (for free) with good success.

    Definitely something to consider.
     
  11. Neo240

    Neo240 Power Member

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    Why dont you try some site flipping with meathead1234, and when you have some more money; you could invest in guys who show promise but have various problems with paypal and payment options. That will be cool IMO, and that will be the easiest too. And if you do PM meathead then wait for some time, he takes time to respond.
     
  12. jimmyjam1983

    jimmyjam1983 Junior Member

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    i think you guys will be my suited to offline, it can bring in quick cashflow and if you got a good guy on th phone get cold calling :)
     
  13. wMercw

    wMercw Junior Member

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    If you have only begun your journey into IM I do not suggest trying to run a membership site first, that is one of the hardest sites to run and you must have clear knowledge for people to want to keep coming back for more, also your seo and web design skill must be good, no one wants to pay money for a bad looking site. I suggest trying adsense and building a few niche sites and once you have gained the knowledge go back to that big project, good luck!
     
  14. x2ski

    x2ski Newbie

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    You mean building out some sites and have him broker the sale?

    I guess that's a possibility.
     
  15. x2ski

    x2ski Newbie

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    Yeah that's certainly high on the list of options.
     
  16. Winchester

    Winchester BANNED BANNED

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    If you have that money, and the strong employee's then sell services to those who don't. Skills are harder to come by and worth more than eBooks any day
     
  17. x2ski

    x2ski Newbie

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    We have a great front end designer on board, so anything we build would look really professional.

    Keep in mind, if by "big project" you're talking about my startup, it's happening and we have the funds to make it happen. Just in a slow period right now as we interview back end talent to continue the project.

    We're simply looking into IM as something to do in the meantime. Who knows? Even though our business model has been very well received by our potential customers, in reality it could totally flop. Nothing wrong with having a backup plan.
     
  18. x2ski

    x2ski Newbie

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    Services such as web design and social media marketing? That's what my guys are good at.
     
  19. InternetMayhem

    InternetMayhem Regular Member

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    Someone on your team should know PPC etc. online marketing in general and all Google products like GA for example.
     
  20. mrhelpfulguy

    mrhelpfulguy Junior Member

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    I wouldn't recommend cold calling unless you got someone to generate a website that builds leads for you. It`ll cost you dearly, I seen this from experience. Leads are also expensive which can add up.

    You need a solid script, and a key closer.