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Once you start making bank.. what to invest in next?

Discussion in 'Making Money' started by Figrole, Apr 26, 2017.

  1. Figrole

    Figrole Regular Member

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    Hey guys, fellow n00b here. (I know my title says registered member but I dont really feel like it yet).

    Basically I have started a dropshipping journey and have jumped straight into it. No mucking about, no excuses, just in and get some real world experience and I have to say its pretty good fun.

    I have broken even in the first 2 weeks (my shopify fee thing) and I am hoping to grow even more in the coming weeks. Instagram followers have broken 1200 today and the traffic on site is constantly increasing. Essentially I am "making money from $0" - doing all instagram work manually etc.

    Anyway, yesterday on the bus I cam across this thread on BHW: https://www.blackhatworld.com/seo/t...realistic-advice-on-how-to-make-money.897099/ and it really got me thinking about the direction I want to go in.
    Obviously making serious money from a dropshipping site is a tall ask, but I feel like im on the right road so far. But im looking further down the line here. Im talking once I get the dropshipping store (and hopefully my instagram) account to a large size and I am looking to expand - what would be the best way to do so?

    In the thread it spoke about alow of different options: buying websites, buying MP and multiple twitter accounts etc, there is ALOT of options on the list.

    Im just writing this here today basically to see what direction you guys could offer me to go (not asking for hand holding) but words of advice and things to avoid when looking to expand my base of income.

    Any words of advice would be greatly appreciated.

    - Danny
     
  2. W9go

    W9go Elite Member

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    grew you IG first :) ... spent you money wisely. a shop can be done quite cheap so you don't teed a huge investment.
     
  3. danixD

    danixD Supreme Member

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    If you want to stick with ecommerce you can create a brand, rent a warehouse and buy on alibaba with cheaper prices. You will make more money and your shipping time will be low. Love your customers and they will love you
     
  4. Figrole

    Figrole Regular Member

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    Hey man thanks for the reply :) yeah thats what im planning on doing ! That way I can start to do shoutouts etc once i get big enough !

    Oh yeah i know man! I have a rule I work by that I only spend after I earn so im keeping costs down at the moment!
     
  5. Figrole

    Figrole Regular Member

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    Hey man thanks for the comment :) That could be an option in the long term for sure!
    But if anything like the guide said once I got the money together I wouldnt mind investing in stuff that gets passive income! Although growing the e commerce store could definitely be interesting in the long term, and those quick shipping times would certainly be attractive to customers.
     
  6. psmanipulator

    psmanipulator BANNED BANNED

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    My advise is don't put all your eggs in one basket...
    Invest in other things such are stocks and game shares..Real state and other things that can be kept forever. (theres no forever though)

    Once you get tired with your ecom sell it..
     
  7. PowerPath

    PowerPath Regular Member

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    Invest money in businesses
     
  8. Figrole

    Figrole Regular Member

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    What sort of businesses? How do you find the businesses to invest in?
    Would it not be better to invest like 3k into a website that making 250+ a year and help scale it up a bit so can make a bit more then sit back and have that passive income rolling in while still hustling on the ecommerce?

    Maybe it wouldnt be better I have no idea thats why asking!
     
  9. Figrole

    Figrole Regular Member

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    Hey man thanks for the words :) thats exactly what Im planning for already, I know its long term down the road but I like to be planned for these things - stocks seem like a risky game though!
    Ideally I would like to invest in real estate, but I feel as if theres another step inbetween if you get me?

    So Ecommerce Site ---> Invest in methods that result in passive income ---> Let that passive income build up then invest in real estate?
     
  10. PowerPath

    PowerPath Regular Member

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    Businesses that seem legitimate, money-making and creative. https://www.forbes.com/sites/tanyaprive/2015/11/17/how-to-invest-in-startups-and-make-money. Crowdfunding is also a good way to invest but is super risky.

    It might be better if you don't have to do much to the site but what I am talking about is proper companies or products.
     
  11. psmanipulator

    psmanipulator BANNED BANNED

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    Yes that's cool.. You are really looking further in the future..
    More earnings to come..best of luck in your journey
     
  12. MisterF

    MisterF Jr. VIP Jr. VIP

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    If what you're doing is making you a profit, then look to upscale that.
    However I'd suggest also looking into something totally different as a side income, just in case anything happens bad to your main business.

    Try to have a fall back plan in case things suddenly don't work that well for you.
     
  13. Figrole

    Figrole Regular Member

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    Thanks man :)

    Thats what I am planning to do ideally, scale up my ecommerce store.
    But yeah im looking for a fallback plan/ other methods of income also.

    What a few guides have suggested is invest in MP and maybe some instagram accounts or instagram accounts and have them all interlinked yadada and start a collection of influencer accounts - then can charge for shoutouts and stuff aswell while I could also use it to help promote my store. THE POSSIBILITIES ARE ENDLESS.
     
  14. Tamerlane

    Tamerlane Jr. VIP Jr. VIP

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    As a person who reads and writes a lot, I would suggest e-books, which are essentially infoproducts. What you do is write (or hire someone to) write an e-book about a certain topic, build a website around it, and sell it - either through your site or the Amazon Kindle marketplace. Easy as one-two-three. Well, not, it isn't easy, of course. But once you find your niche, work out the kinks, and do some half-decent marketing+SEO for it, you'll have a steady income from a non-physical product that you don't have to do any logistics for or anything.
     
  15. Figrole

    Figrole Regular Member

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    Hey man.
    Ok damn that is an absolutely awesome idea.

    So for example I could do an Ebook on "How to grow a social media account to X amount and start a e commerce site making X amount per month as a 19 year old"? Then make a site around the book?
    And then use the already existing platform to push it on followers and stuff?
    It literally sounds too good to be true :p
     
  16. issorc

    issorc Jr. VIP Jr. VIP

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    Why not try to make that store kind of passive? Once you got enough orders rolling in, hire someone to proceed them on aliexpress or wherever you buy. If you lower the amount of work you are doing by yourself you make that income kind of passive because you just have to count the money in the end.
     
  17. Figrole

    Figrole Regular Member

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    Yes of course that is a very good idea and something I am planning on doing anyway, but as a previous poster said I dont necessarily want to have all my eggs in one basket.
    So ideally I am looking for different methods to expand into in order to help solidify myself for the future :)
     
  18. Unitycity

    Unitycity Newbie

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    figrole do you mind if i could talk to you over Skype or somewhere like that really interested in just talking to you.

    add my skype fashionistas111

    if you have skype that is.
     
  19. thetoothfairy

    thetoothfairy Power Member

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    Have you got any sale yet? You should have a look on fb ads and reddit ads .u gonna get ton of sales with cheap investment if you do it right.
     
  20. Jared255

    Jared255 Jr. Executive VIP Jr. VIP Premium Member

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    Invest in more of whatever is working to make you money. If you decide to "invest" in something different, treat it as a brand new project and try to spend nothing at the start before you have a proof of concept. In your case, if you make it work with IG + Dropshipping, simply do more of that. If you jump into something else, e.g. Facebook ads to drive conversions, treat it as something brand new and spend the bare minimum to start - don't dump all of your money into it at once.