So, I have some money to invest. I'm thinking of putting most of it in stocks right now, but after hearing some success stories, online businesses have really caught my attention. What I'm looking at is eventually investing around $1k in online businesses, but I'm not really sure how I should go about doing it. So far, I've been planning on taking the cautious rout. I recently purchased a small $10 domain just to get a general feel for what I'm doing, since I know the bare minimum, if even that, about this kind of thing. However, what I DON'T want is regular job. I figure that I'd rather spend 8 hours a day at some kind of retail store making a steady income of $80-100 a day rather than spending 12 hours online doing things like writing blog articles and selling forum posts for $25 a day. So I figure that my ultimate goal is to purchase large, like maybe two $400 forums and a $200 directory, although I'm very open to a different setup. My question is, though, how much expertise am I going to need to be successful with that kind of investment? Should I know all the ins and outs of site management, or are sites at that value already established enough for me to be able to safely learn on a need-to-know basis, and tackle problems as they come? Thanks for any advice. It's appreciated.
I would invest in an online business rather than shares (with only $1,000) Beware of falling into the newbie trap - rushing in too deep too quick and losing money. Keep an eye out for 1 good quality forum or directory, rather than 3 smaller ones in my opinion. If you add my msn we can chat some more and I can answer any questions you might have.
If you dont have a real game plan dont throw out that much money. Many people will try to take your money. -If you know basic html/php and have an idea try to build the site yourself. -forums take a long time to build up, so if theres a really good deal (do a lot of research) and its active- maybe you should buy it -I personally wouldnt ever buy a directory .
Oh hey, thanks rochow, will do. Also, I'm investing in stock with a different set of money. They're low risk ones, but hopefully will provide a steady payout to cover any losses I might make in this. I'm thinking that a forum would be the safest bet, yes, as I have quite a bit of experience with those. And unfortunately, I haven't touched html in a few years, although it probably would be a good idea to start building something as a side hobby to build some basic skills.
What I've learnt is that it's not how much money (or how little) you have that gets you big income. It's learning how to do any thing that's required, even if you do have the money to outsource it. Blog posting and directory submissions at $10 - $20 a day isn't good, I agree. If you don't have the money, you need to do this for some time before you can save enough to make the next move. If you do have the money, spend just a few days learning the ropes before graduating up. And I'd guess that any site that you can buy for even $1K isn't going to generate the $80 + per day that you're looking for. You'll need to have a clear idea, plus the money to keep building it. Otherwise, as an earlier post said it; you're just looking to throw away the money.
if you send me a pm i have some details on a company that would be a good investment and you could work on from your current location in californa!
In my personal opinion sales is the way to go. It isn't the most profitable in the beginning, however, if you do your research, maybe purchase a worldwidebrands.com account (PM me about this if you have intentions of doing that) to help with your research you can potentially do pretty well. The great thing about sales is that it is fairly consistent. You are either going to consistently bring in money, or you will consistently fail. I would highly recommend reading the free ebooks over at worldwidebrands.com before doing this though. 90%+ of the time the first option you have in your head in terms of products to sale is probably not your best bet. Holar at me if you are interested in doing something like this, i'm not going to ask you to buy anything from me... but would like to discuss what i've found in my research with you.
If you go the stocks route, and you don't get too speculative, you may see annual gains of 10% - 20% depending on how good you are. I don't know how old you are, but I'd think a little more before you rush out and do something. You see, a lot of unsuccessful people and soon to be broke people have this weird habit. They do one thing or see one thing and assume that it will always work and that they'll make more money just by replicating it. Let me give you an example. Joe Wishful makes a site. It eventually gets to $10 monthly. He then thinks that all he has to do is make 100 more and he'll be making $1,000 monthly. Another example is Sue Pieinthesky. She reads about someone making money doing something. Rather than doing research and trying a sample run, she comes up with this big plan. She then goes on a buying spree, is left with a pile of crap, and is now crying like a baby because she wants her money back. The sad fact is a majority of people that try to do business online are just like Joe and Sue. Just remember, a fool and his money are easily parted. And every minute of every day the part of the fool is being played by someone. Here's an idea. Tuck that $1,000 away for now. Put it in a money market or a few solid stocks. Take a couple of dollars and buy a domain and hosting. Build a little site around something you really love, really want to learn more about or are an expert in. See where it goes.
you dont want to invest all your money, start in increments then steadily rise up but if you take a little bit and invest in building a website, then take a little invest in the market. I am going to have a section on how to invest wisely soon with 500.00 dollars just diversify!
If you will be going to the stock route, I'm going to give you a piece of advice most beginners don't take. Just buy the index, and forget about trading actively. You'd be far ahead of most professionals.
If I were you I was gonna read and inform myself about forums, directories, the different things that a website owner/developer should know. Don't rush things now. Get to know the stuff and then invest.
Before you invest, read the forum for a while. Just keep up with the latest info and after few days (may be a month) You will be in a posiiton to make the decission (I mean the correct one) That suites your style and knowledge/time you want to put in etc.. Thanks
i wouldnt say that, he obviously wants to do something, other than just leave it in the bank. IMO, you should buy a domain, some hosting, and develop a site on your interests at first, learn some informaiton about it all by actually doing it yourself. this will allow you to go on, and set up new websites, or buy existing ones, which are much more likely to work if you have had some prior experience. it is low risk, as initially it will cost you 30 odd, for the first year. andd the rewards of doing something on your own accord are even better.