If I seriously budget, I can live off of a $7,500 line of credit for 6 months. I was thinking about taking out a line of credit, and working 40 hours a week for 6 months writing high quality, detailed posts in a few niche blogs, building mini sites, and getting linkbacks for my sites and blogs. At the end of the 6 months I would only need to be making $250/week to be alble to not have to go back to a real job. Does this seem like an attainable goal? If I was writing high quality and useful content, is it possible to be making $250/week after 6 months? Has anyone ever tried something like this? How did it work out for you?
Thats sounds awesome, and if you make a blog of how you get on doing it people are sure to tune in, to see how you go, even better do a Youtube, post explaing what your doing and give bi weekly video updates with websites ect on there, bound if marketed correctly to stir up some interest
Last night I made an excel spreadsheet for blog and mini site ideas for me to do if I did go through with my idea. Last on the list was my[firstname][lastname].COM blog detailing the steps of my online journey.
I haven't tried this yet (neat idea, but I wouldn't quite a job for it 'cause this market is so fast and inconsistent) but maybe I'll try it out, I have time time this year
So you're taking out credit so you can quit your job and work full-time on your website? That sounds like a bad idea to me. I'd advise doing as much work as you can on your website while still holding down a full-time job, and saving as much money as possible. At least then if your plan fails you just run out of money and go out and find a 9-5 job again. If your plan fails and you can't pay off your loan, then you'll just be digging a deeper and deeper hole.
Going into debt doesn't seem like the right thing to do. The price of failure is very high in this situation. Better to save $7500 and then go ahead or keep working part time until your revenue stream allows you to go full time.
Yeah that is possible! My advice to you on this one will have to be go for it the reason is if you take no risk in life you may as well kill yourself now!
Now thats not good advice, my cat lives a risk free life eating and sleeping and he is happy as larry,
But doesn't it seem likely that if someone spends 40 hours a week writing very high quality blog posts on 7-10 blogs every single day - that after 6 months they'd be maing at least $250/week?
Maybe its happy but maybe this guy wont be happy eating sleeping and walking around maybe he wants sucess and that will make him dam happy!
Personally i would keep the day job until you know it'll take off especially you have family. If it's only yourself then the end decision is down to you but i'd still see how it goes first rather than put a noose around my neck. Just my opinion but i hate any kind of debt LOL
Money and success don't always lead to happiness. It may for a while but he could also burn himself out within a month and still have to pay back the loan.
Dont get loans, save a little money and make some posts while working, then dedicate yourself to a full-time-job