I have $20,000 - where do I start?

Hello,

I am a software engineer by trade. I have saved up $20,000 to get into the money making online game. I have in the past tried dropshipping and it didn't work out, years ago. I can afford to lose the 20k, however I'd like to give it a try growing it, and maybe eventually replacing my main income.

Where should I start and what should I do? What would you do?

gladwda said:

Hello,

I am a software engineer by trade. I have saved up $20,000 to get into the money making online game. I have in the past tried dropshipping and it didn't work out, years ago. I can afford to lose the 20k, however I'd like to give it a try growing it, and maybe eventually replacing my main income.

Where should I start and what should I do? What would you do?

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Try Adult niche, like me

Read the forum and decide.. You are a software engineer so build software and sell it!!

Be ready for a swarm in your PM, that`s for sure.. many people will have a lot of ideas with your money)

R.I.P. your PM inbox.

I would read the forum and choose one traffic source/"method". But yeah, read more first before pissing it all away even if you can afford losing it.

Hello, invest in 3-5 different way.

I would diversity it.
You could buy one or two sites with good ranks and organic traffic while building 1-2 sites from the bottom.
I would look at that as a pretty solid way to learning your ways around in general. I would suggest keeping the sites within the same categories, so either dropshipping, affiliate etc. - You can always try new stuff in the future, but getting the base knowledge within a category is the most important in the beginning.

And you should probably be aware of all the scammers there is literally everywhere. Only deal with trusted people while learning your way around. There's a lot to learn, but eventually, when you know the ways around, it's also way easier to expand and learn more.

First, ignore all the PM's requests from people wanting to give you their "genuine and legitimate" business advise. Just don´t fall for that.

Secondly, don´t focus on just one thing. You have enough capital to build a diverse investment portfolio wich is something you should be aiming for in order to reduce risks.

Thirdly...

I have in the past tried dropshipping and it didn't work out, years ago.

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This doesn´t mean anything!

Just because you failed in the past doesn´t mean you can make it work. Especially if you have $20k to invest. I strongly suggest you learn as much as you can about it and give it another shot.

There are a few dropshipping courses here you can take a look at that are pretty decent like the one from Gabriel St-Germain.

Unfortunately, the link got removed because it is part of the Do-Not-Share list. But you can browse around and find it. It´s not that hard.

You can also check his YouTube Channel, the guy gives pretty solid advice on dropshipping.

His channel has "only" 28 videos but over 178k subscribers. Check it out!

If you don´t want to dive into dropshipping again that´s totally fine. There are other ways to make money online like affiliate marketing and CPA.

With your budget, you can pretty easily dive into CPA and blast that baby up with paid advertising

Lastly...

I am a software engineer by trade.

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You can research the market and check if there´s a need for a software, develop it and sell subscriptions for it.

Anyway, good luck with this,

Cheers!

Invest in your knowledge first, why 99% fail and dont make money online, it's because they don't know what they are doing.
And marketing is the key in online money making learn how to market your products. invest around 1000$ in courses and work hard and learn, be organized don't you ever rush, Learn PPC, Social media marketing, Then start your marketing (remember always to test), everything is coming from data (you are an engineer you must know this).

Good luck

Find a painful problem that keeps people up at night, that many people find difficult to fix (because there are few solutions), and solve it.

Painful problem; your mother being bedridden because she suffers from XYZ, your housing being repossessed because you lost your job, your relationship being on the brink of divorce.... that sort of thing. If it ain't something that is really painful. Don't bother trying to solve it.

Hire the best people you can afford to help you create your product, your website and funnel. Then hire the best agency you can afford to run ads for you.

Good luck.

I'd invest in a ready made website that's already making money in a niche your interested in then grow content, social presence and SEO power over time.

With $10 - $15K you can pick up established sites making $500+ p/m and use your remaining budget on (mostly) content.

Start with your passion. Pick a niche related to something you are personally interested in, like one of your hobbies, then build a business around it.

20K is great money to start

1) you can put the money into your own business and hope for good profits but its very unsure

2) invest into an existing successful business

I would pick 2) unless you can create or teach something others want to pay for

For 2) you need a reliable company and contracts to ensure that you are getting a cut out of the profits

3) There is another option - you could make some business moves together with me - i myself make 15K easily so I could also teach you a lot but this option is only available when we had a skype call as i do not trust anyone and i only teach you if i see some profit behind it

so 1) and 2) is what i recommend to you as 3) is only for you if you really are ready to put in many hours of work, make time, money and energy investments and have a strong mindset. 99% of all people do not have it and if you are not like that then dont bother pming me anyway

p.s. i might sound strict but thats better than all these fake people out there that can only make fake promises

To anyone else - dont pm me i have nothing to share for free. I am a legit business (all registered) paying taxes, workers, insurances,.... So, I have nothing to share for free so dont pm me if you want free help, information or anything else.

$20k is definitely a good money to invest. I suggest going along with your skill, programming website tutorial might be a option.

gladwda said:

I can afford to lose the 20k

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Even if you can afford to lose it, divide it into different options. That way you'll not lose it all. I'd suggest you to invest 10k in stocks and play the IM game with 10k.

Roger Marquez said:

You can also check his https://www.youtube.com/channel/UCqw27ZfS4aWdNhP1MDOldPA, the guy gives pretty solid advice on dropshipping.

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Watched his first one, and I admit it has me interested. Think I'll give it another try and see how I get on - I am useless with facebook ads, generally.
Thanks for the advice all, I'll do some reading around it.

You dont need huge amount of money to start being profitable online , you need time and effort.

Now that you have a lot, read read read, after reading ask among the methods you think best fit you the question to take them ahead , where to buy, where to get more info about your niche etc.

All this is time and effort with what other people just has said you have it all.

I would start amazon fba business.

Build a software service with your knowledge and experience, then use that $20k for marketing and building support team to handle the influx of customers you'll have .

start your own PBN list with good content and good rank.