Discussion in 'Making Money' started by jmdawson, Nov 22, 2010.
What would you do? Lets bounce some things around.
Mark had $1k when he first created FB, then after that $18k, then after that some big guns financed them for half a million dollar. So I guess if you had 10-15k to start an online business, try brainstorming a revolutionary new original idea and bank hard.
P/S: FB saved some bucks they didn't have to hire PHP programmer since they do it themselves.
Just my 2 cents.
Take $1K (max $2K) and make that you're starting budget, the rest - put it away, don't touch it.
Test ideas on a small scale (don't put all your eggs in one basket, applies here), then roll out the tests that work on a slightly bigger scale while still testing and tracking.
The more money you have, the more you'll waist. By restricting yourself to a small budget, you'll become more creative and resourceful - looking for ways to do more for less. Things like hosting is cheap, some of the tests may require tools which overlap (i.e. you use one tool in multiple tests - buy once, use in multiple ways).
remember dont just invest such a big amount try doing it things with your own hand see around and learn around this way you can get a good idea about market and market rates. Once you have found your target Niche Building some income stream if it starts making money start outsourcing it thats how i see things.
Depends if you're doing IM or you want to make a startup.
With 10k for IM. I would invest 5% into education, 10% for tools, 10% for services. 4k for a very ver very tight 3 month salary for myself. And have the rest as a cushion.
For a Startup:
Get 2 partners, the ideal formula is 1 programmer, 1 Business Guy and 1 Designer. Get that 15k, rent a small apartment, buy comfortable chairs (as you will probably be sitting 14 hours a day working for a couple of month), eat cheap food, (if in US) move to a place where you can get in touch with blog editors, angel investors and VCs (SF bay area). Hire interns (when product is online), monetize the product when you've reached a certain level and then:
A-) Get some money out of it
B-) Break Even
C-) Crash and burn like 95% of all start-ups
That's the summary.
Depends. I would try to create a startup and promote it. If it's good enough, you'll get a lot more to money to fund it and move on. Officechairs.com was started by a teenager in his room. Now it's giving him a lot of money back. Zappos and Facebook (Twitter) all were started with a fraction of what you have. Just think outside the box.
If I had that to start the first thing I would do is drop 2k on the essential tools. Scrapebox, mass prestige poster, sick submitter, bookmark demon/wiz, article marketing robot/demon, market samurai, tweet attacks, tube toolbox, wp robot, wp tweet bomb and a few others like SEO Elite. Then I would buy super great hosting paid in advance for the next 5 to 10 years, with multiple ip's and decent speed at least VPS.
Then the rest would be spent on account creation and outsourcing. This is proven and will work if you know what you're doing. If you don't and are new then save the money and learn the ropes first. I hope that was insightful for you.
Thats the worst advice i have ever heard. , and then you mentioned its a proven way to succeed. Tell me exactly who pays 5-10 years in advanced for hosting. You gotta be kidding me. You obviously have no clue about webhosting companies. People go through nightmares paying 1 year in advanced and most of them learn their lesson, now you are saying 5-10 years in advanced. Please come with a better advice cause 5-10 years in advanced in hosting looks like a joke to me rather than an advice.
If you like to talk to people and you like the hustle start your own online advertising business. I started selling traffic, which progressed into SEO, and all other marketing for companies. I find reliable outsourcers and basically send them the work. I just handled the customer service aspect of it.
Now this is a great business not only because the profit margins are very appealing, but you meet so many people and get such good contacts. Not only that but you can use your knowledge of how to market and advertise online to parlay it into all kinds of other businesses like I did.
You can do a lot with $10K, just be smart with it. There is a wolf around every corner.
Sheesh what a bitter man! I have never had any hosting problems when ordering a few years in advance. I say it because it's a good idea to not have to worry about that one business aspect for the given time. And with the right company they will do good deals for you. People in business WANT their customers to be happy and stick with their company lifetime. You don't get the royal treatment from garbage companies. Maybe you should stop dealing with godady and host gator and start using real services and you won't be so bitter and snide...
Out source an article directory with SEO.
who pays for 5-10 years of hosting?
I want to know who pays 5-10 years of hosting , especially when they are getting started. You still havent answered my question.
Both have a point
I prefer paying monthly even if they promise me 50% percent discounts. They will take care of me as they need my money every month. Money is a great motivator for them and You can switch as and when You like.
Now thats some advice about startups.
On the issue of buying upfront 5 to 10 years of hosting. I have to agree with fellow posters: i.e. it's a bad idea. 5 to 10 years in the hosting biz is a very long time. Service can deteriorate from excellent to poor in a matter of months, given the right exposure for the hosting company. Not all hosting companies are made equal or capable of handling growth.
This especially holds true for VPS hosting, as it's very easy to oversell resources.
I wold get the following tools...
And I will use the balance on designing a good site....
Develop a software
Hire a call center outsourced to generate leads
Take the leads generated and sell the software
Sell 5x copies a day at $100 = $500 a day
As my fellow BH members would say, rinse, repeat and oh...SCALE IT!
Hope that helps.
love this sentence
"You can do a lot with $10K, just be smart with it. There is a wolf around every corner. "
Maybe u can buy a site on flippa and then make some seo, design etc then sell it for more.
Buy time to support yourself and do market research.
are you saying its that easy in software game?
What kind of software seels best and for 100$?
I would probably start thinking of trying to outsource my labor and have them do quality articles and hopefully it converts. Its hard to answer the question if you don't actually have the $10k
Separate names with a comma.