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

You Have 10-15K to start an online business

Discussion in 'Making Money' started by jmdawson, Nov 22, 2010.

  1. jmdawson

    jmdawson Junior Member Premium Member

    Joined:
    Apr 3, 2009
    Messages:
    148
    Likes Received:
    27
    Location:
    South Carolina
    What would you do? Lets bounce some things around.
     
  2. HeroWillDrown

    HeroWillDrown Junior Member

    Joined:
    Nov 16, 2010
    Messages:
    116
    Likes Received:
    96
    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.
     
  3. savvypro

    savvypro Regular Member

    Joined:
    Jan 14, 2010
    Messages:
    211
    Likes Received:
    133
    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).
     
    • Thanks Thanks x 3
    Last edited: Nov 22, 2010
  4. anti_dote

    anti_dote Power Member

    Joined:
    Dec 20, 2009
    Messages:
    658
    Likes Received:
    153
    Occupation:
    BlackHat IM
    Location:
    Under Your Bed
    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.
     
  5. AndreasTheMenace

    AndreasTheMenace Newbie

    Joined:
    Nov 1, 2010
    Messages:
    12
    Likes Received:
    4
    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.
     
    • Thanks Thanks x 2
  6. dshad

    dshad Regular Member

    Joined:
    Aug 23, 2009
    Messages:
    361
    Likes Received:
    57
    Occupation:
    Country Boy/IM/College
    Location:
    Lafayette,Indiana
    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.
     
  7. RobDB5950

    RobDB5950 Registered Member

    Joined:
    Nov 22, 2010
    Messages:
    67
    Likes Received:
    6
    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.
     
  8. DigitalGangster

    DigitalGangster Regular Member

    Joined:
    Jun 24, 2010
    Messages:
    387
    Likes Received:
    230
    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.
     
    • Thanks Thanks x 3
  9. jstover77

    jstover77 Executive VIP Jr. VIP Premium Member

    Joined:
    Feb 27, 2009
    Messages:
    2,313
    Likes Received:
    3,530
    Gender:
    Male
    Occupation:
    Entrepreneur
    Location:
    Doylestown PA
    Home Page:
    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.
     
  10. RobDB5950

    RobDB5950 Registered Member

    Joined:
    Nov 22, 2010
    Messages:
    67
    Likes Received:
    6
    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...

    :whoo:

     
  11. JesusBack

    JesusBack Executive VIP Premium Member

    Joined:
    Sep 15, 2010
    Messages:
    1,159
    Likes Received:
    1,284
    Occupation:
    Almost done :D
    Location:
    {calm|cool|collected}
    Out source an article directory with SEO.
     
  12. DigitalGangster

    DigitalGangster Regular Member

    Joined:
    Jun 24, 2010
    Messages:
    387
    Likes Received:
    230
    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.
     
  13. thesilent

    thesilent Supreme Member

    Joined:
    Mar 21, 2009
    Messages:
    1,305
    Likes Received:
    213

    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.

    AndreasTheMenace,
    Now thats some advice about startups.
     
  14. savvypro

    savvypro Regular Member

    Joined:
    Jan 14, 2010
    Messages:
    211
    Likes Received:
    133
    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.
     
  15. GBlogger

    GBlogger Junior Member

    Joined:
    Nov 11, 2010
    Messages:
    114
    Likes Received:
    20
    Location:
    hell
    I wold get the following tools...

    xrumer
    SB
    senuke
    travis

    And I will use the balance on designing a good site....
     
  16. ittechs310

    ittechs310 Junior Member

    Joined:
    Jun 30, 2009
    Messages:
    188
    Likes Received:
    2
    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.
     
  17. Gorush

    Gorush Power Member

    Joined:
    Jul 19, 2010
    Messages:
    735
    Likes Received:
    164
    Location:
    germany
    love this sentence
    "You can do a lot with $10K, just be smart with it. There is a wolf around every corner. "

    best :D

    Maybe u can buy a site on flippa and then make some seo, design etc then sell it for more.
     
  18. neutralhatter

    neutralhatter Jr. VIP Jr. VIP Premium Member

    Joined:
    Jun 23, 2010
    Messages:
    430
    Likes Received:
    330
    Buy time to support yourself and do market research.
     
    • Thanks Thanks x 1
  19. ohyeahbabe

    ohyeahbabe Junior Member

    Joined:
    Sep 20, 2008
    Messages:
    168
    Likes Received:
    9
    are you saying its that easy in software game?
    What kind of software seels best and for 100$?
     
  20. understealthsnake

    understealthsnake Newbie

    Joined:
    Aug 11, 2008
    Messages:
    25
    Likes Received:
    2
    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