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Current IM Venture has me out 500 bucks from my pocket

Discussion in 'Making Money' started by Dragn, Oct 25, 2011.

  1. Dragn

    Dragn Regular Member

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    Am I doing something wrong? NOPE.

    I'm creating this thread to give everyone a little piece of advice. Save money and invest it. I've always been a firm believer in "start with zero, work your way up so you never really lose a dime" and because of that i've only seen very limited success in the past. I've had a few great runs in my IM career but many flops, and all my great runs eventually die simply because I couldn't get past square one or over a hump through the run.

    I decided to try a different tactic. I've put 500 bucks into my latest venture and although I've been out 500 bucks for about 2 1/2 months now, I'm bringing in more money faster than any of my previous ventures. I would technically be down about 350 now, but I've been using the profit to re-invest and make my venture grow faster. Currently, I've spent about 500 out of pocket, and another 200 from the revenue my business has made thus far.

    Within the next month I should have broken even. within 2 months I will be up 250-500/mo, by the 3rd month I should be bringing in about 1k/mo, and finally my end goal of 2k/month should show up around month 4. At that point I'll be expanding my business into a few sub niches and should bring the total venture to around 3-5k/month before having to hire some extra hands.


    All the stats are solid. All the numbers are increasing, all the work is becoming streamlined. I'm building as I'm going, figuring out how to make it function in a streamline manner, and the more i organize it the better its getting. There are no flaws in this, no chance in being banned, no chance of "not being able to afford it", it's already self sustaining as we speak, its just a matter of organization for optimal efficiency. And this wouldn't have been possible without the willingness to invest out of pocket to start things off.

    we are all here to make money and become successful. If you are not willing to spend the required amount of money on your projects then you are not taking your idea seriously. It's nothing more than a hobby at that point. A real business requires real money, or do you want to be some shady back alley company that can vanish over night?

    Stop being cheap. Get the tools you need. get solid product. Invest the time and money in what both your business and you deserve to be working with. Being successful isn't the hard part, being serious about what your creating is.
     
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  2. 75INZ

    75INZ Regular Member

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    It's just like the age old saying, you gotta spend money to make money.
     
  3. Danny1111

    Danny1111 Elite Member

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    Well first you have to test the idea to make sure it makes money

    then scale it up as fast as possible - often this requires an investment of some sort to do.

    Hopefully the thing makes money for years - but I would always diversify into other niches once you start making money -- too much reliance on just one thing and something happens then your in trouble.

    So maybe some Service Business / Adsense / Amazon / Clickbank and CPA Sites - once the initial thing starts going well.

    GL
     
  4. Jailbucks

    Jailbucks Newbie

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    *takes money to make money
     
  5. Monkehx

    Monkehx BANNED BANNED

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    needmoneytomakemoney.com
    I'm selling it.