Is The Internet Where Its At ?

[M&A]

For the small guy with little money who wants to go from $10k to $10m, $100m or even $1b is the internet the only place where you can compete with the giants and grow exponentially. Its just so global and so large now.

You can appear so big behind the internet, If I build a furniture store business with little cash its hard to be competitively priced, and project that you are big. A guy with $10,000 isn't going to take on IKEA.

But on the internet a one guy creates a dating site he can take on plenty of fish. Some app can reach critical mass with little $ investment.

Having that said what are the best internet business models, I gave 2 years of my life and 1000s of $ for a content based website and didn't make a dime profit so I am a bit weary to get into it again.

 

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[damondietz]

As MJ mentions in the book, there are lots of ways to go Fastlane (not just Internet though Internet is one great way!).

To answer your specific question, Real Estate is something you can do with little money. Instead of leveraging money, you can leverage your good credit (assuming you have good credit). You can purchase a single family home for as little as 3.5% down. Rent it out and make monthly residual income. Save some cash and buy something bigger next time (a duplex, a 4 unit apartment, or something commercial).

Good luck!!

 

[Gsuz]

If you want to find working internet business models, turn off your Adblocker and hit CTRL + H. Pick a few of your recently visited websites and have a close look at them.
What are they doing? Where is money flowing? Are they displaying ads? Offering subscriptions? Collecting emails? Selling something?

Take a look at this forum. What does MJ do to monetize the user base?

 

[blackhat]

what are the best internet business models, I gave 2 years of my life and 1000s of $ for a content based website and didn't make a dime profit so I am a bit weary to get into it again.

Don't be weary. Use those 2 years and thousands of dollars to your advantage.

What problems did you face with that site? Any that you could solve for others?

What lessons did you learn that you can apply to the next venture?

 

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[Nicoknowsbest]

Having that said what are the best internet business models, I gave 2 years of my life and 1000s of $ for a content based website and didn't make a dime profit so I am a bit weary to get into it again.

Did you identify a need before you started? Was there an audience that might have been interested in your content? If you open a retail store selling stuff no one wants to spend money on/needs, you will have the same problem. So maybe it's not the Internet

 

[M&A]

As MJ mentions in the book, there are lots of ways to go Fastlane (not just Internet though Internet is one great way!).

To answer your specific question, Real Estate is something you can do with little money. Instead of leveraging money, you can leverage your good credit (assuming you have good credit). You can purchase a single family home for as little as 3.5% down. Rent it out and make monthly residual income. Save some cash and buy something bigger next time (a duplex, a 4 unit apartment, or something commercial).

Good luck!!

REALLY 3.5% DOWN ? Investors in Ireland where I live are required to have 30% down which is a joke in itself kills opportunity for small bankrolls. I would really like to get into RE since my background is in investing/trading I manage risk pretty well. Buying as a principle residence is 20% down.

 

[M&A]

Don't be weary. Use those 2 years and thousands of dollars to your advantage.

What problems did you face with that site? Any that you could solve for others?

What lessons did you learn that you can apply to the next venture?

I learned how to develop decent websites and outsource and vet employees. It was a content based website in the fitness industry just far more organised than the big websites out there. I gained traction of about 30000 visits per month but didn't make any money through ads so I scrapped the site after 3 years.

 

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[damondietz]

REALLY 3.5% DOWN ? Investors in Ireland where I live are required to have 30% down which is a joke in itself kills opportunity for small bankrolls. I would really like to get into RE since my background is in investing/trading I manage risk pretty well. Buying as a principle residence is 20% down.

There are many ins and outs to real estate investing. If you are purchasing as investment property you will need 20% down. But, if you purchase as a primary residence there are FHA programs which you can qualify for as little as 3.5% down. The trick is... you purchase as primary residence, and then after six months rent it out. Subsequent properties you will need larger down payments of course. The idea is do what you need to do to leverage what you have.

 

[James Thornton]

Many items sell much better in store, but the internet clearly has the fastlane advantage, if your offer is a good fit.

Just a tip that may help someone with a physical product strategy: 90% of retail products are bought in store.

I know that may sound surprising with Amazon, etc., but it sure holds true in my experience. People still like to see, touch, and experience in person.

So since people are 9x more likely to buy in store, you may actually make more overall revenue through wholesale or licensing.

Obviously not true for things that are better fit for online, but maybe that'll help someone with a retail product. Just because online is exponential doesn't mean it's how you'll hit the big numbers.