50k$ to change your life !

benodino said:

A little background about myself: I have been working in the tech industry as a sales representative for several years, and I've decided it's time to take the leap into entrepreneurship. I want to be my own boss, take charge of my destiny, and build something I can be truly proud of.

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This is the right spirit, but to make it work you're going to have to be willing to get back up after you get knocked down. That's where most people fail. They come in with big expectations of instant success, but it doesn't manifest, and so they bail after facing just a bit of resistance. Your background is sales, which probably means you are a "people person" or else you wouldn't have gone too far in sales. That's an asset to any business, but when you go solo you have to consider what you are going to offer and how much of a workload you can reasonably handle.

I have saved up $50,000, which I am eager to invest in my venture. However, I am at a crossroads and uncertain about the best direction to take. I am open to various ideas and opportunities that align with my background and interests.

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When you are just getting started, it is good to have some funds to support yourself because - depending on what you choose to do - will not likely be turning a profit from day one. I assume you have a few ideas of your own that you have at least pondered.

I would be incredibly grateful if you could offer your insights and expertise in this forum. If any of you have been through a similar transition or have experience in starting a business, I would love to hear your stories and advice. What areas or industries should I consider? What pitfalls should I watch out for?

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I started many years ago with a simple e-commerce shop, back before instant web stores were a thing. From there I learned my own coding skills and created my own products which I sold through other web stores. I got tired of dealing with physical products and the grind of having to pack-and-ship orders, and I didn't want to scale that into a warehouse operation with employees so I transitioned into digital products (back before digital products were the meme that they are today) and did exceptionally well. I continued into email marketing which is what I do to this day.

Consider a business that you would enjoy participating in.
Don't start many projects and leave them unfinished - start and focus on just one.
Don't be quick to spend a lot of money up front on anything, but at the same time, if you have done your due diligence, don't try to skimp by. It's like caring for potted plants: over-water them and they will get mold and fungus, then die. Under-water them and they'll wither and die. There is a sweet spot that is just right.

gigapothem said:

I have a ton of coding/infrastructure experience and have some good ideas, but I don't have the seed capital for a SaaS business, would that still be possible?

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What seed capital do you need? If you have the tools to make a saas product, just make it. Your cost is your time.

Start an offline business

Invest in stocks and cryptocurrencie.

buy website with traffic on flippa

Saas really not suitable for non-skill person. How much you can invest to hire a developer to run over the failure test? Most probably, you'll end up all your invest funds before you could find a success solution.

Invest this money into something you have done. It's hard to invest in new things without knowledge.
Good luck on your journey!

E-commerce + paid ads could be a good start
Experiment with 5% capital at a time

I appreciate everyone's valuable contributions. I plan to consolidate the questions you've raised. Regarding my skills, I possess experience in cyber security, IT (including Info and database), virtualization, sales, and customer success. My aspiration is to establish an independent online business that isn't tied to a specific country. Previously, I dabbled in Shopify dropshipping during its trend, eventually reaching a break-even point and even selling my dropshipping website at a small profit. Despite the challenges ahead, my determination remains strong. While I lack specific passions or hobbies, such as gaming, cats, or cuisine, I've considered creating a restaurant review website. However, I'm aware that this might not provide a sustainable income.

fedo1 said:

Man, why are you hating.

I have watched hundreds of videos and courses with people that ran Agencies before. Surely they have expirience, right?

I am not including any Books and conversations that I have with other Agencies.

I ran few free trial Campgains too and have gotten good results for my clients.

Now I have 12 happy clients that I generate business for, and they are refering me but I can not handle the workload. I am training a few VAs now.

I feel insulted that you are misjudging me, behave yourself please. Do not assume things about people that you have no idea about.

Rather than hating, why not offer advice to this guy?

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sorry for ignorance, what VA stands for?

Try dumping the money onto business , or ONLINE BUSINESS MATE .

Leverage Your Network: Your existing connections in the tech industry can be a valuable resource. Seek advice, mentorship, and potential partnerships from your network.

Marketologs said:

sorry for ignorance, what VA stands for?

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Already got it, nevermind

benodino said:

Such as? Creating my own software and selling it?

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Head over to codecanyon search for "SaaS or AI" u can get some ideas there.

Pm me if you are ready to invest in a SaaS or AI business. I have 8 years of experience in developing SaaS websites and selling them for bigger profits in months. Will share proofs and complete business plan to see whether you find interest in it or not.

My best advice is to stay away from advices here Especially of those who will contact you in PM and offer you their great knowledge and partnership. But with your money, of course, as despite their great knowledge, they don't actually have three bucks in their pockets.

Techpreneur said:

If you don't have any skills, I would recommend you start a SaaS business

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SaaS business don't require skills?

MgicalaEarner said:

SaaS business don't require skills?

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Don't act like too smart. I already replied to it. Check my old reply below.

Techpreneur said:

Check my other replies before doing yours. I told him to start a SaaS business from scratch using his huge capital. If he has technical skills, he can save a lot of money on coding. That's what I meant. Since he doesn't possess any skills, he has to invest all his money to hire developers and marketers.

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You don't need no money like 50k to run a online business at all if you got the skills.

You can offer services that at need

You just need to no how and study the no how to succeed.

Example only:
As a website designer and seo exspert all the tool are around £600 monthly from disposable money to pay. (( small designer seo business)) routhly.

Infact if you get the customer spit up front heavy depisits, dont need no money all can be done thu understanding your budget price.

You 100% will never need 50k to start a online business if you hit the skills.

The most exspensive part going to be your personal, rent electric, gas, food....

The business at the beging will be very cheap your be suprised..


It the skill you need mastered and offer what people need.

Gd luck

For example for skill.
1 year good to study
Then do online business if it your career move.

Loads to learn deeply to survive, need a good strong reputation And portphilio to even survive.

Just remember a serious web marketer on avarage 200k a year, but that take deadecation 12 hours a day, bleeding eyes....lol


Look around the forums on here look at the services offered, your soon see the skill needed to earn.

You don't go and get a office or big door sign with your name on, you do everythink from home if you can survive, when built a name for yourself then get a office if needed.....

Techpreneur said:

Don't act like too smart. I already replied to it. Check my old reply below.

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That a nice idea, but unless you got the skill frame and methods to succeed for your self, getting others do your dirty work might not work.

Will cost huge advertising money and the money demanded from staff will be huge....

Plus your need the startup skill.

It be more then 50k needed if your just hiring people to run somethink you don't understand


And there trust aswell, imagine the staff see you as thick not knowing all sorts of scams to fill there pockets will go on.

Good idea but it a chance.