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

What is more important, Consistency, a good idea or lots of capital to succeed in IM?

Discussion in 'BlackHat Lounge' started by beingink, Jun 1, 2016.

  1. beingink

    beingink Senior Member

    Joined:
    Sep 19, 2013
    Messages:
    1,012
    Likes Received:
    218
    If you were to say who will eventually succeed which one of those would be the most needed?

    I have seen people who are not of any IM communities, they don't follow any gold rush but have websites that are receiving visitors in millions because they kept at it from the start. So for me it would be consistency.
     
    • Thanks Thanks x 1
  2. topcoder

    topcoder Regular Member

    Joined:
    Jan 31, 2012
    Messages:
    203
    Likes Received:
    29
    I'm struggling getting traffic, the keywords I rank for are of low search impact and those don't even rank in the top 5. However, from whatever traffic I do get, I do get conversions. So everyday, I'm consistent in that I work on building my business everyday. But I keep switching focus, I'll work on enhancing my offerings one day, link building the next, bug fixing the next, SEO Optimization the next. I just keep rotating what I do, keeps me from getting board. But I think the biggest challenged has been getting ranked, been at this for 3 years, but only manage to get to about 1k a month in recurring revenue.
     
    • Thanks Thanks x 1
  3. Divination

    Divination Power Member

    Joined:
    Jul 3, 2012
    Messages:
    579
    Likes Received:
    116
    Capital. If you have 1 million dollars, you can go for a loss until you profit. Buy a PPC campaign for $1000, only made $800 back? No problem. Keep experimenting until it is profitable, then scale up. Money makes money.
     
    • Thanks Thanks x 1
  4. Dannythehat

    Dannythehat BANNED BANNED

    Joined:
    Dec 22, 2015
    Messages:
    69
    Likes Received:
    48
    Most important is to keep going and learn from your mistakes. Its a game of strategy a lot like chess and once you start becoming successful , its like playing chess and monopoly at the same time.
     
    • Thanks Thanks x 1
  5. MonsterMag

    MonsterMag Power Member

    Joined:
    May 2, 2015
    Messages:
    602
    Likes Received:
    417
    Occupation:
    Self
    Location:
    My Journey Discussion
    But these people had the idea first, else they wouldn't have the project at all.
     
  6. KenTZ

    KenTZ Regular Member

    Joined:
    Jan 28, 2015
    Messages:
    418
    Likes Received:
    223
    A good idea.

    You can have all the consistency and capital in the world, but if you are a master of throwing it at bad ideas, you won't get anywhere.

    Consistency is a very close second.
     
  7. Conor

    Conor Elite Member

    Joined:
    Nov 7, 2012
    Messages:
    3,577
    Likes Received:
    5,954
    Gender:
    Male
    Location:
    South Africa
    Home Page:
    I disagree. You can pay someone to have good ideas for you.
     
    • Thanks Thanks x 1
  8. amoon

    amoon Jr. VIP Jr. VIP

    Joined:
    May 16, 2015
    Messages:
    1,672
    Likes Received:
    933
    Gender:
    Male
    Occupation:
    IM - BHW
    Location:
    Map–Territory
    Always ideas makes money,
     
    • Thanks Thanks x 1
  9. DankHorse

    DankHorse Junior Member

    Joined:
    Mar 18, 2016
    Messages:
    191
    Likes Received:
    53
    Honestly if you have lots of capital there's no reason you can't succeed. Money talks!
     
  10. amoon

    amoon Jr. VIP Jr. VIP

    Joined:
    May 16, 2015
    Messages:
    1,672
    Likes Received:
    933
    Gender:
    Male
    Occupation:
    IM - BHW
    Location:
    Map–Territory

    Agree with that, but you will face some competition,

    If you have a new idea, this will make you money, but not for long time. You have to feed it with some money to continue

    So, I think we need both of them
     
    • Thanks Thanks x 1
  11. KenTZ

    KenTZ Regular Member

    Joined:
    Jan 28, 2015
    Messages:
    418
    Likes Received:
    223
    Who you choose to have these ideas for you in itself decides whether it is a good or bad idea.

    There's no shortage of examples in terms of sports athletes banking 6-7 figures per year for a few years who lose it all because they had the wrong people giving them ideas on how to use it.
     
  12. beingink

    beingink Senior Member

    Joined:
    Sep 19, 2013
    Messages:
    1,012
    Likes Received:
    218
    Sports people are perfect example of working hard for long and for pennies until finally they start making bank. There is no secret to there success they day in and day out worked hard and eventually it all paid off.
     
    • Thanks Thanks x 1
  13. Visit

    Visit Senior Member

    Joined:
    Mar 11, 2014
    Messages:
    840
    Likes Received:
    305
    Occupation:
    Porn Star
    Location:
    Where that Show The Broen is Located
    Home Page:
    well, if you know how to dropship and shopify, you just get buyers that pay you and you sell with 80% profit from dropship, and use that money to buy more inventory and expand selections / cover costs. Thennnnnnnnnnnnn you need neither?
     
    • Thanks Thanks x 1
  14. javabro

    javabro Power Member

    Joined:
    Dec 2, 2015
    Messages:
    631
    Likes Received:
    674
    Gender:
    Male
    lot of capital.
     
  15. Boomba

    Boomba Regular Member

    Joined:
    Sep 13, 2015
    Messages:
    267
    Likes Received:
    132
    Having capital is always going to make the process easier. Whether that's buying an established website or outsourcing the work for one.

    In my opinion it is consistency that matters the most. When you work on a project enough that's where the good ideas come in to optimize and improve it.
     
  16. ThopHayt

    ThopHayt Jr. VIP Jr. VIP Premium Member

    Joined:
    Jul 25, 2011
    Messages:
    6,676
    Likes Received:
    2,516
    Ideally you need all three. Few succeed in their FIRST venture in IM, so you can't be a quitter. And you need the money to fund a few ventures before finding a winner. This also speaks to the learning process.

    -ThopHayt
     
    • Thanks Thanks x 1
  17. KenTZ

    KenTZ Regular Member

    Joined:
    Jan 28, 2015
    Messages:
    418
    Likes Received:
    223
    I'm using them as an example of how people with consistency basically carved into their bones and lots of capital from their work still wind up becoming broke from throwing it at all at dogshit ideas.

    Basically, it's to support my point that ideas are the main consideration with consistency being a close second.
     
  18. Jobdollarr

    Jobdollarr Supreme Member

    Joined:
    Dec 12, 2014
    Messages:
    1,420
    Likes Received:
    173
    Occupation:
    Webmaster
    Location:
    USA
    Home Page:
    I love the simplicity, spend money to making money.
    Repetition is the teacher of all sciences.
    The success is influenced by the hard work and consistency.
     
  19. TheNoobGuy

    TheNoobGuy Junior Member

    Joined:
    Apr 16, 2014
    Messages:
    101
    Likes Received:
    25
    Occupation:
    None
    Location:
    India
    I've seen people claim that they are making 6 figures using IM, eCommerce to b precise, but they also say that they have invested a lot to get there.

    Like, I spoke to a guy, who said he invested 1million to make 2.3 million via eCommerce. Obviously, that's a huge amount to invest. And when u have so much money, u can take a few more risks and learn on ur way up.

    I personally would not b able to Invest 1million, but I can try to invest 10k in a good business opportunity, and even with that amount it is possible to run a good campaign and build a nice website to help u make some profit.

    For now, I'm just learning, once I start implementation, I'll be in a better position to answer this question, but until then, my bet is on startup capital.

    Most businesses fail coz the business owners fear losing money, and take bad decisions coz they are bootstrapped.
     
  20. jstover77

    jstover77 Executive VIP Jr. VIP

    Joined:
    Feb 27, 2009
    Messages:
    2,376
    Likes Received:
    3,621
    Gender:
    Male
    Occupation:
    Entrepreneur
    Location:
    Doylestown PA
    Home Page:
    They are all integral to the success of a business. Lack of capital is a big one though. You can have a great idea/product, but with lack of capital it's hard to get off the ground and/or scale.
     
    • Thanks Thanks x 1