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

What's the biggest mistake/worst investment you've made in IM?

Discussion in 'Making Money' started by EmilioGC, May 22, 2016.

  1. EmilioGC

    EmilioGC Junior Member

    Joined:
    Apr 16, 2016
    Messages:
    156
    Likes Received:
    17
    I want to know what everyone's worst mistakes are, with the purpose of learning.
     
    • Thanks Thanks x 1
  2. BuildMoreLinks

    BuildMoreLinks Jr. VIP Jr. VIP Premium Member

    Joined:
    Jun 7, 2012
    Messages:
    2,032
    Likes Received:
    684
    linked all my twitter accounts together, and they all got suspended last month, with the amount spent in terms of link building, servers and other costs. It was a big mistake.
     
    • Thanks Thanks x 1
  3. javabro

    javabro Power Member

    Joined:
    Dec 2, 2015
    Messages:
    631
    Likes Received:
    674
    Gender:
    Male
    My biggest mistake -> One word ->> FOREX
     
    • Thanks Thanks x 3
  4. CrescentSkies

    CrescentSkies Junior Member

    Joined:
    Oct 21, 2012
    Messages:
    134
    Likes Received:
    39
    Gender:
    Male
    Occupation:
    Contract Accountant
    Location:
    I Forget
    Ignoring Fiverr for so long.
     
    • Thanks Thanks x 2
  5. Tazdingo

    Tazdingo Junior Member

    Joined:
    Jun 30, 2014
    Messages:
    109
    Likes Received:
    40
    Wasting time. Time is the only investment that you cannot earn back. Money comes and goes. Time only goes...
     
    • Thanks Thanks x 5
  6. lizmoz

    lizmoz Power Member

    Joined:
    Oct 10, 2008
    Messages:
    561
    Likes Received:
    331
    Yeah like said above it's about time.

    Wasting it.

    Too many projects that were started and never finished. The amount of hours....
     
    • Thanks Thanks x 3
  7. Sombrero

    Sombrero Senior Member

    Joined:
    Feb 28, 2011
    Messages:
    1,183
    Likes Received:
    1,015
    Occupation:
    Driver
    Location:
    On The Road
    I bought a website for $100 and sold it for $500 thinking I made the deal of the century. 6 months later I found out that such website was making $180 via AdSense. I didn't know about AdSense back then, the traffic was very good and that's why I make the purchase.
     
  8. SharknadoSEO

    SharknadoSEO Newbie

    Joined:
    Sep 12, 2014
    Messages:
    7
    Likes Received:
    0
    Could you elaborate a little more please?
     
  9. javabro

    javabro Power Member

    Joined:
    Dec 2, 2015
    Messages:
    631
    Likes Received:
    674
    Gender:
    Male
    • Thanks Thanks x 1
  10. okazaki

    okazaki Jr. VIP Jr. VIP

    Joined:
    Apr 16, 2015
    Messages:
    807
    Likes Received:
    360
    Home Page:
    Like Tazdingo said wasting time.
     
  11. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

    Joined:
    May 1, 2009
    Messages:
    7,307
    Likes Received:
    8,271
    Gender:
    Male
    Occupation:
    Geographer, Tourism Manager
    Location:
    Ghosted
    Worst mistake:
    (1) Jumping on the train too late more than once.
    (2) Not email verifying my instagram accs when i still could, but it wasn't yet needed. As a result of this, now i have ~700-800 aged accs (3 year old+) with 1,5 million real followers total, which i can't access anymore. lol

    No bad investments so far, but i guess it's mainly because i invest only into bots, proxies and social media/email accs.
     
    Last edited: May 22, 2016
  12. BigTroll

    BigTroll Jr. VIP Jr. VIP

    Joined:
    Oct 15, 2014
    Messages:
    1,898
    Likes Received:
    735
    Occupation:
    CPA
    Location:
    ROMANIA
    Same here.
    It's cool to be a spammer, low investment high money :)
     
  13. b6ainy

    b6ainy Regular Member

    Joined:
    Apr 12, 2015
    Messages:
    306
    Likes Received:
    70
    Gender:
    Male
    Didn't Know BHW earlier
     
  14. potato165

    potato165 Junior Member

    Joined:
    Apr 11, 2016
    Messages:
    177
    Likes Received:
    26
    Occupation:
    unemployment
    Location:
    On the sky
    I spent my 130$ invest to Neobux. After buying a golden membership it exposed it is an professional scam PTC site. I gained back 60$ from Neobux and loss 70$. Don't know why people still promote such things like that.
     
    • Thanks Thanks x 1
  15. Zwielicht

    Zwielicht Moderator Staff Member Moderator Jr. VIP

    Joined:
    Aug 31, 2013
    Messages:
    7,135
    Likes Received:
    12,587
    Gender:
    Male
    Occupation:
    Reaper
    Location:
    Riverside, California
    Home Page:
    Being too lenient and trusting.

    When I first started working with clients, this led to issues involving scope creep, late payments, no payments, haggling, and overall unresponsiveness from the clients (usually when I messaged them about their payment). However, over time I developed better contracts and took on a more assertive, albeit still amiable tone. I'm still a bit lenient when it comes to my clients paying (I'm fine with late payments as long as they pay within 2 weeks) although some of them surprise me by paying early some months. Of course, these are clients I've had for years, so i trust them enough to pay.
     
    • Thanks Thanks x 2
  16. EmilioGC

    EmilioGC Junior Member

    Joined:
    Apr 16, 2016
    Messages:
    156
    Likes Received:
    17
    Yeah, agreed. I prefer to lose money rather than losing time. Nobody can get your time back.

    It was a good deal! Even tho you should have made some research about website monetization before selling it.

    Jumping on the train too late? Why? Were you unsure?


    At least it wasn't that much money, IMO the $70 you lost were for good, I bet you are now better at identifying/researching scams and such.
     
    • Thanks Thanks x 1
  17. Tazdingo

    Tazdingo Junior Member

    Joined:
    Jun 30, 2014
    Messages:
    109
    Likes Received:
    40
    Exactly. And there are two types of time lost.
    1. The time invested that you physically spent doing X project or method.
    2. The opportunity cost of the time spent that you could have used for something more worthwhile (that may have brought you residual income to this day).
     
  18. HoNeYBiRD

    HoNeYBiRD Jr. VIP Jr. VIP

    Joined:
    May 1, 2009
    Messages:
    7,307
    Likes Received:
    8,271
    Gender:
    Male
    Occupation:
    Geographer, Tourism Manager
    Location:
    Ghosted
    I can't really say i was. It was mostly, because i didn't know about the opportunity in time or just didn't take it seriously enough and when i realized, it was already too late.

    Or here's another mistake i've done: when i was making quite a bit of money with only working 2-3 hours per day for a few months, i could have easily put into more work hours and invest into resources (new machines, VPS, more accs, more proxies etc.), so i could have multiplied the profit, but i just didn't, because i was making more than i ever expected to make with IM. I didn't put more work into it or invested more, i settled for less, method got patched and that was it.

    When you have something figured out, you're 100% sure that it's working and has a good ROI, don't delay investing in resources and scaling up, if that can make you more, because you never know when the method will go poof.
     
    • Thanks Thanks x 3
  19. davids355

    davids355 Jr. VIP Jr. VIP

    Joined:
    Apr 25, 2011
    Messages:
    10,195
    Likes Received:
    7,845
    Home Page:
    "Scope creep" - haha love that phrase!

    My biggest mistake - wishful thinking - I learned you have to be really honest with yourself with want ventures are and are not working and go with the ones that are working, not the ones you want to work.
     
  20. payayy

    payayy Registered Member

    Joined:
    Nov 29, 2012
    Messages:
    58
    Likes Received:
    7
    Gender:
    Male
    Occupation:
    Moneynaut
    Location:
    Il bel Paese
    On top of everything, time wasting, as others said, and not to believe enough in what I start.
     
    • Thanks Thanks x 2