Great bootstrapping thread - how to create money.

[TK1]

Only problem with this is:

1. Impossible to scale
2. Impossible to automate
3. You can never sell it as a business

Is $17,000/mo good money? Hellz yeah. But you got to think bigger than that.

...and yes #1 is debatable.

Sorry mate, but all those are wrong.

Not attacking you, but:

#1 Scaleable = You start with stuff for a few bucks, learn skills and build up capital. With more capital = you start selling premium priced products and look for deals like cars, bikes and anything that costs a few thousand. And what comes after that? Real estate for example.

#2 Automate = When you can hire people, you can automate. Sure, you can't automate like an affiliate business, but it's possible. If you get the knowledge by the time, you can teach other people, too.

#3 Sell it as a business = If you have customers and do a great job of customer service you can build a brand, a complete own business / ecommerce site etc. out of it. Add some employees from #2 to the equation and cut yourself out by the time and you have nothing more, nothing less than any other business that sells computers, socks, real estate etc. (what your specified brand stands for).

My point is the most important thing is the learning in the process. And when you sell and learn making deals you develop one of the most important business skills.

For the other 3 things you've listed: When you can sell and you care about customers you made it half way, because customer service will always be a USP.

Again, not trying to attack you, but just adding my .02 for all people trying that out. The most important thing is to get STARTED, learn SELLING and KEEP LEARNING (and learn how to make customers happy).

TK

[MJDeMarco]

Is $17,000/mo good money? Hellz yeah. But you got to think bigger than that.

The problem is this is "event driven" thinking and it is why they never succeed, let alone earn $17k/mo.

They want to jump IMMEDIATELY to $170,000/mo but won't learn the steps, or the process to earn $17,000/mo.

Who would I bet my $$ on to earn 100K+/mo?

1) The guy going for it immediately.
or
2) The guy that already knows how, and is, making $10K/mo.

My money is on #2 because he shows the ability to engage in a step-by-step process. Guy #1 is probably more event driven and will give up because his eye is on the mountain top, and not at the rock right in front of him.

[InMotion]

Who’s going to reach the peak first? Is it the person who stands at the base, looks at the peak, and thinks all day long how this is going to be possible and how they are going to get there; or... is it the person who says look there’s the base, we got what we need, lets get started?



Success… What it Really Looks Like…

[kirrubi]

Thank you MJ it helps me a lot.

[jtmoniii]

Just wanted to say thanks for the car idea. I've been flipping cars for about 2 years and haven't made any real money - BUT I haven't had ANY maintenance expenses in 2 years and have made money in the process without carrying a car note!

[jtmoniii]

Great Points MJ!

[JonZoolander]

This thread is awesome.

I stumbled upon this thread while looking for ideas just like this. I am currently working on a couple fastlane projects but I keep running into funding issues. Money that I'm getting from the JOB, so I get really paranoid and afraid to take risks because if I lose, it takes me a while to build up the capital to try again. I decided that if I had a bankroll and an actual marketing budget, things would go so much faster!


With these methods I can start my bankroll and get my budget. So much thanks to those who have posted.