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Money's Coming In -- Now what?

Discussion in 'BlackHat Lounge' started by motzart, Dec 7, 2012.

  1. motzart

    motzart Power Member

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    In the beginning of my IM career I had no money.. so I had to go after free methods.

    But now that I've got some money saved up and coming in each month from all my hard work, and I have very small expenses, I'm not really sure what to do with my money.

    I really don't want to just spend it on stuff, I did that with my first earnings, and now I've got nothing but a bunch of paintball gear to show for it.



    Even if it takes more testing/hardwork and maybe a small monetary loss, what would you guys recommend I look into in terms of either paid traffic or some other form of business investment that requires a monetary risk?
     
  2. jazzc

    jazzc Moderator Staff Member Moderator Jr. VIP

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    Don't do anything with it. Save it and grow your stash like a fairy tale dragon.
     
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  3. meannn

    meannn Supreme Member

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    Try paid advertising, such as ppc,ppv. Don't go big at first. Once you get positive roi, scale it.
     
  4. marusia

    marusia Senior Member

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    Cut a hole in your mattress and stash it there. I'm not really kidding. Keep your money. You'll need it one day.
     
  5. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    Can you reinvest what you have made into the methods you have been successful with so far? That's your best option.

    Either find ways to automate, outsource or formalise what you have been doing so far. If you can turn a "method" into a sustainable business, then you are well on your way to building a long term income stream.
     
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  6. TheRealRazzy

    TheRealRazzy Jr. VIP Jr. VIP

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    Bootstrap the hell out of it. No need to go out and buy any more gear and set your earnings back a couple months.

    take what you have and reinvest it as meathead said.

    Scale what you're doing as meannn said. But be careful with PPC. Always test your keywords, CTR, and your ROI. If you're selling a good service and just breaking even with PPC then don't worry. When I was using adwords I had plenty of people click through and then buy my cheapest package. When they would get the report they would come back and buy a much bigger and more expensive package :) They're testing you just as you're testing your PPC, normally.

    If you can take $10 a day and turn it into $20 a day then you should be alright if you weren't just having a lucky day lol. Each day of the week will have different earnings. After a couple weeks of testing when you figure out what your good days are and what your not so good days are then you can set your campaigns to work with that. If you're best days tend to be monday-wednesday then obviously you'll want to spend a little more on advertising on those days so more people can see your ads. If your bad days are just sundays then you'll want to drop it down to your minimum per day. But the tricky thing is to realize holidays will affect your clicks some times, especially Christmas. More people will be shopping online around Christmas to avoid the lines at stores. And that means your CTR could be misleading for every day during the week.

    If your IM money is just extra cash in your pocket and you don't rely on it then I'd say you could scale pretty quick.

    Look for cheap ad spots that will convert well and make you even more money. Even if it's a little bit, it will help you out in the long run.


    That's just my $0.02
    I didn't think my post would end up this long lol :D
     
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    Last edited: Dec 7, 2012
  7. s0ap

    s0ap Executive VIP Jr. VIP Premium Member

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    Bsbear could use a new server.
     
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  8. Autumn

    Autumn Elite Member

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    First step is to save an emergency fund equal to 6-12 months living expenses, plus enough money to start up your IM ventures again if it all goes to shit, your house burns down etc.
     
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  9. smlover

    smlover Junior Member

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    end of days is near, shouldn't you get laid?
    nah kidding :D

    I would be invest that kind of money on to some thing else. Invest on gold, or another business.
     
  10. bk071

    bk071 Jr. Executive VIP Jr. VIP Premium Member

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    Sage advice!

    Also, save whatever you can and INVEST the rest... don't SPEND it on things you can live without.

    "If you buy things you do not need, soon you will have to sell things you need." - Warren Buffett
     
  11. abuhanifa

    abuhanifa Senior Member

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    Outsource and scale up .

    P.S. :- Keep it simple silly .
     
  12. srb888

    srb888 Elite Member

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    Save! Nothing like saving.:) Or count them daily, sometimes they grow babies.:) Then raise those babies, they will grow some more babies, then... you get the idea! If you understand this then begin the habit called saving! You at least have the money to begin with it. Let the bank do the counting and raising parts.:)
     
  13. GiorgioB

    GiorgioB Supreme Member

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    I would recommend saving 50% onto a bank account (or in your mattress if you don't trust banks) and reinvesting 50% of your earnings by scaling up your curernt method. My opinion is "if it ain't broke, don't fix it" AKA stick to your method, just recruit a part time staff, buy some proxies, buy another website, or something, anything..

    but yeah, save a bit and invest a bit.
     
  14. ice41

    ice41 Power Member

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    I would invest that money on offline business, and continue on my IM career. Now you have two money making business..save it!
     
  15. Berkeli

    Berkeli Regular Member

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    well i've seen a lot of money on ads+clickbank lately.. there was a thread "in love with clickbank" you can look it up
     
  16. nightwish

    nightwish Registered Member

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    invest some of your savings for more profit
     
  17. yogib34r

    yogib34r Newbie

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    I agree with GiorgioB, when in doubt - half it out
     
  18. mrtwister_65

    mrtwister_65 Regular Member

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    Invest in gold and silver. If you are out of ideas how to spend it.
     
  19. Chris22

    Chris22 Regular Member

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    Hookers and blow
     
  20. krishnaverma

    krishnaverma Power Member

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    I agree with what meathead said above. You should better focus on methods that have worked for you. Trying new methods with the savings can be risky especially if you have saved less than $1000 or so.