I was going to write about something else…and I meant to post something a couple days ago, but something else came up.
As you may or may not know, I like to hang out in a couple well-known IM forums. I like them too much actually, so I often spend a little too much time on them each day when I should be doing more productive things.
One of the forums, the Warrior Forum, charges $20 to list a Warrior Special Offer (same with a classified ad and a Warrior-for-hire listing).
The WSO is basically a place to sell IM-related products and services, although you could technically sell other stuff if you wanted to.
But this post isn’t about WSOs or the Warrior Forum, or even the War Room (which is a gold mine of information that costs $37 for lifetime access).
It’s about spending money to make money.
To make money online, you’ll need to either invest your money or invest your time, preferably both.
If you literally have no money to spare, then you must be willing to invest much of your time to learn and work. There’s no way around this if you cannot spend any money.
But say you don’t have much time to spare for whatever reason, and you do have money, then you have to be willing to spend it.
Don’t get me wrong though: spending money on ebooks and courses will not make you any money. It obviously still requires work, but say you need a few articles written and you don’t have time to write them all yourself, why not pay someone a few bucks to write you some?
I think my whole point is this: no matter what aspect of your online business you look at, you’ll need to invest something into it.
If you lack the knowledge to do something (e.g. programming, graphics), then you have to pay a professional to do it.
If you’re lacking a direction and you really need someone to hold your hand and show you the way, you’ll want the help of a coach or mentor.
If you’ve found a direction, but would like to get more advanced training, you should be willing to pay someone for that training.
There’s a really stupid myth online that everything you find in paid products, from $7 ebooks all the way up to $1997 courses and beyond, is readily available for free online.
In other words, some people think that there’s no point in buying products, especially high ticket stuff, because it’s all already floating around on the Internet.
What a load of crap.
You really think you can find all the information contained within Mass Control (for example) for free online? Unless you illegally download the whole thing, you probably can’t.
And even if you could, how many weeks and months of research would you have to do to find that kind of knowledge and to piece it all together in a coherent manner?
If you’re interested in product launches, good luck figuring out how to do one by scouring the Internet for free information.
If you’re interested in list building, good luck finding anything beyond the basic stuff that everybody already knows.
The lesson here is to be willing to spend money.
You know why I don’t have a problem with jobs (as long as they’re tolerable) or with people online having jobs? Because they can help pay for your IM education, products, and services.
So if you don’t have money, get a job. Do odd jobs. Stay at your current job. Do what it takes, within the law of course, to acquire start-up funds.
You’ll be able to do a little at first, but if you plan on creating a real business online, you better start spending some dough. But as always, be smart about it.
Hey Curtis, thanks for the email and the invite to drop by. I just read your post. It’s true, business does require and investment, but if I can add to your comment about that requirement, I’d just like to offer your readers a little insight about cash, investments and leverage.
If you want to be successful in business, you need to leverage 3 things. Time, money, and people. Now, of course, money is the absolute necessity for leveraging people in order to leverage time, but, cash is not the only kind of money, or currency there is.
Assets, are money. They can be sold for cash, bartered for other products or services, used as collateral for cash, and more. There is a key factor in recognizing the assets that equate the value of money.
If people looked more closely at what ‘assets’ they already have, coming up with the ‘investments’ needed is only a matter of leveraging those assets.
What are assets?
Sites with high traffic, or income, that could be sold for the cash. Or could be used to sell ad space to someone else for cash.
Resources,… all those PLR and MRR products sitting on people’s hard drives! Those are assets.
Skills. The ability to write articles, make graphics, build sites, install scripts… these are all assets. They can be turned into cash, bartered, and leveraged too.
There’s all the investment you need to invest in your business.
Hi Danielle,
Thank you – good insights on assets and leverage.
Just a comment about leveraging one’s skills: any beginner/novice who has a skill that is related to IM in some way, like the ones you mentioned, should consider themselves extremely lucky.
The beauty of being able to write, design, or program well is that you don’t need much IM-related knowledge, if any, to sell your services online. Earn as you learn.
Unfortunately, not everyone has skills such as these. I like your points about finding assets and how to use them, but really, it comes down to money and time, at least in my watered down version of things.
After all, writing takes time, getting good PLR takes money (most of the time), and creating a high traffic site with income takes time AND money
Btw, you’ve given me some good ideas for future posts, so thanks again!
Curtis
Curtis, true some skills take time to learn. Another factor in leverage would be to consider what you learn most easily. Some people could sit through 10 videos on how to install and customize a WP theme and pick it up in an evening, others could do the same with marketing. God knows there’s enough free tutorials on ‘how to’ for the small money-makers out there. One just has to know oneself, and how oneself is ‘wired’ and apply it.
Thanks for the conversation. I do get tired of posting to my own blog all the time.
Dani
Great article with some solid advice. Not enough time is spent telling new people to internet marketing that they have to invest in their business both time and money. And the less money they invest the more time it will take to create an online income.
I raise chihuahua’s teacups and used the income from one litter to finance four months of online costs at $400.00 per month. I kept to that budget and was able to start bringing in money in my second month. I was not bringing in $400.00 per month online at the end of the four months but I was able to market my new online skills to offline businesses and keep myself afloat.
This business is doable, the income is there, you just gotta spend wisely, and keep learning each and every day.