1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

[Monopoly Journey] Achieve Financial Freedom

Discussion in 'My Journey Discussions' started by rispel, Mar 16, 2017.

  1. rispel

    rispel Registered Member

    Joined:
    Aug 3, 2013
    Messages:
    61
    Likes Received:
    25
    Occupation:
    business creator
    Location:
    Netherlands
    [​IMG]

    == Monopoly Journey to Financial Freedom ==

    Hey everyone! I'm starting this journey in the hope to get some additional insights and feedback from the pro's. I read a lot of amazing journeys already and thought it was time to do one myself. So what's with the Monopoly thing? I believe in creating long term online assets which can increase in value over time. In addition: I'm starting with nothing and would like to end up with hotels ;)


    == TARGET ==
    So the second part of the title is Financial Freedom. For me the target is dependent on my lifestyle, and I use the following formula:
    Monthly Expenses - Online Income = Positive
    In my case I need about 2k gross per month as a bare minimum. That means that I need about €70 per day net profit. I want to reach this goal somewhere in September, which gives me about 170 days.

    == HOUSES ==
    And with houses, I mean online assets. Everyone is free to their own opinion, but the priority of my future assets is as follows:
    1. Websites - E-commerce
    2. Websites - Ads/CPA
    3. Mailing list

    4. Social Media accounts

    == STRATEGY ==
    Since I want to have multiple income streams I will use different methods. I know that I will only succeed through focus, so I will start a couple of projects simultaneously and choose the one which shows most potential. To refer back to Monopoly, I will buy some streets and see which one I can start building a house on.

    == JOURNEY ==
    I will update "whenever I feel like it", but at least once every 10 days :) The first step will be setting up a new VPS and finding some domains. The first revenue should be made around May 1st, so I got quite some time for the sites to be build and age. I will do most stuff myself (except writing articles) and will let everyone know when and where I outsource.

    It would be awesome if my BHW heroes would notice this thread and help me along the way. I was very impressed with the dedication and progress of Kinlee, ComputerJunkie and Royserpa. Hopefully I will be able to follow in their footsteps and reach my first goal.
     
    • Thanks Thanks x 4
  2. Jwick

    Jwick Newbie

    Joined:
    Mar 14, 2017
    Messages:
    25
    Likes Received:
    2
    Gender:
    Male
    You will have to need a lot of traffic to make the asset more valuable right? This will be tough.
    Good luck on your journey
     
  3. arlamelk

    arlamelk Junior Member

    Joined:
    Sep 6, 2015
    Messages:
    110
    Likes Received:
    22
    Location:
    Denmark
    Ambitious project, but these are the best. Good luck!
     
  4. IsLive

    IsLive Newbie

    Joined:
    Feb 17, 2017
    Messages:
    16
    Likes Received:
    3
    Gender:
    Male
    Occupation:
    Online Marketeer
    Location:
    Netherlands
    Home Page:
    I am in the same boat as you are, good luck! Although I do have the passive income so I have less pressure, hope you will have the same relief soon!

    I do have 1 question, why a vps? And can you attach that to your hosting company?
    I tried to search the forums with no luck, maybe you can help me out?
     
  5. blogzandstuff

    blogzandstuff Elite Member

    Joined:
    Jan 1, 2015
    Messages:
    5,162
    Likes Received:
    2,382
    Occupation:
    blog creator
    Location:
    UK
    Well I hope you pass Go and don't end up in Jail
     
    • Thanks Thanks x 2
  6. satyawrat

    satyawrat Jr. VIP Jr. VIP

    Joined:
    Jul 8, 2009
    Messages:
    1,111
    Likes Received:
    1,386
    Occupation:
    Hustler
    Location:
    Gurgaon
    Home Page:
    subscribing to this journey...
    if you need a "discipline buddy", i.e. someone to checkup on your progress and tell you to eat shit if you're slacking on a daily basis, hit me up.

    I can also use the same when I slack off too. I have never had someone to hold me accountable. Could be a good thing.
     
    • Thanks Thanks x 2
  7. IsLive

    IsLive Newbie

    Joined:
    Feb 17, 2017
    Messages:
    16
    Likes Received:
    3
    Gender:
    Male
    Occupation:
    Online Marketeer
    Location:
    Netherlands
    Home Page:
    You guys are so helpful, I'm really loving this community.

    @satyawrat a discipline buddy is really a must tbh. I have one as well and it really gets you going.
     
    • Thanks Thanks x 2
  8. JLTMzz

    JLTMzz Junior Member

    Joined:
    Sep 12, 2016
    Messages:
    149
    Likes Received:
    48
    Gender:
    Male
    Very interesting,will follow, good luck :)
     
  9. Jwick

    Jwick Newbie

    Joined:
    Mar 14, 2017
    Messages:
    25
    Likes Received:
    2
    Gender:
    Male
    This is so true. Helps alot, I know.
     
    • Thanks Thanks x 1
  10. Coepi

    Coepi Registered Member

    Joined:
    Feb 22, 2014
    Messages:
    89
    Likes Received:
    20
    Hey @rispel
    I have the exact same goal, the exact same timeline/deadline, and I'm also doing the same you're planning on doing (ecommerde, website for the ads and social media as a source of income and traffic for my websites).

    Definitely going to follow your journey!
    Good luck man!
     
  11. rispel

    rispel Registered Member

    Joined:
    Aug 3, 2013
    Messages:
    61
    Likes Received:
    25
    Occupation:
    business creator
    Location:
    Netherlands
    @Jwick
    I agree. My plan is to short-term buy traffic (social advertising mostly) and convert them either in buyers or subscribers to the newsletter. Eventually most traffic should be "free", and I prefer to use the 80/20 principle, where 80 procent is free and 20 procent is bought.


    @arlamelk
    Thanks! Aim for the moon... ;)


    @IsLive
    Fortunately I also run a small company which makes enough to get me through the months, but getting it on a more 'passive' level would be great. The more desperate you become, the more eager you become as well in my opinion.

    Regarding the VPS > my webhost offers one (Dutch provider). It is not managed, but they do offer images with CentOS 7 and DirectAdmin installed. I had to do some serious Googling to get it where I wanted, but after it was setup I only needed to redirect the DNS to the right IP address and everything worked great. I am not very knowledgeable about servers, but feel free to add me on skype and we'll see if I can help :)


    @blogzandstuff haha yea I thought about the jail part. Better not go blackhat :p

    @satyawrat
    Sounds great man! Sorry I didn't respond earlier. I also have some other stuff going so I won't be putting in hours every day of the week, but being hold accountable sounds good. I got a detailed planning which I am supposed to stick to. Could you add me on Skype? Username rispel.im


    @IsLive hear hear


    Thanks

    Looking forward to having one :)

    @Coepi
    Let me know how it goes! If you want, we can connect on Skype to discuss progress and ideas!
     
  12. rispel

    rispel Registered Member

    Joined:
    Aug 3, 2013
    Messages:
    61
    Likes Received:
    25
    Occupation:
    business creator
    Location:
    Netherlands
    == UPDATE #1 ==
    So 10 days have past. So far I've mostly been doing the ground work, which is against my own strategy of starting 'lean' this time. Shame on me and hopefully a discipline buddy will help :)


    What I've been up to:
    - Setting up a VPS with CentOS7 and DirectAdmin to host my own sites with decent speed and at low cost (expenses are €15 per month, including legit DirectAdmin license). This took me well over 2 days, since I didn't know sh*t about servers.
    - Setting up SSL on the domains. Apparently you can get them free from Let's Encrypt and it has a big advantage against most non-ecommerce competitors in my country (over here you are required by law to have an SSL certificate when dealing with personal data, thus e-commmerce).
    - Keyword & competitor research. Nothing fancy, I took a 30-day trial at SemRush and downloaded some competitor organic ranking keywords in niches I am familiar with or interested in. SemRush already has metrics for the competition and in addition I will perform a search query and use the Chrome plugin SeoQuake to manually evaluate.


    First properties
    I will update you tomorrow or the day after with more in-depth information about my first projects. I have bought a couple of domain names and actually purchased an entire website from someone I know. My lesson here was to not overestimate the worth of a website if someone doesn't update it anyone. It isn't great, but it gives me a head start on aging and linkbuilding. The metrics: DA 6 PA 21 TF11 CF18, 7 backlinks in Majestic.


    Overall planning
    Thought I would share this with everyone, so I can be held accountable even though I'm taking this monopoly game one step at a time. The initial idea when I started planning this out was to have my first profit by May 1st. From then on I need to increase (linear) with about 0,60 per day to reach my goal in September. From May onwards I'll update with a graph at least every 10 days.

    Thanks for the support so far! Really appreciate it!
     
  13. satyawrat

    satyawrat Jr. VIP Jr. VIP

    Joined:
    Jul 8, 2009
    Messages:
    1,111
    Likes Received:
    1,386
    Occupation:
    Hustler
    Location:
    Gurgaon
    Home Page:
    I am assuming you are not hosting an email server. A better, easier route would have been an Ubuntu vps on LinkedIn or digital ocean + serverpilot.io. You only end up paying for the vps.

    serverpilot is limited in functionality, but if hosting wordpress, php sites is all you need it is a good choice.

    Handles the setup, security config and management for you. also has wordpress auto install