$3,000 to $1,000,000 in 15 months: HOW TO DO IT

[andviv]

Currently I am buying broken electronics on eBay, fixing them and reselling them on eBay and I am averaging 30% to 60% on each transaction.

Would it be possible to buy many of them, ship them to the Philippines or China and have them repaired there and sent back, and sell them as "refurbished"?

 

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[ChelseaT]

A 17 year old high school student isn't going to be trading. He's not going to be investing in real estate. He'll barely have time to find or build a product and market it, since he's in class until 3. Today, most high school students have cell phones, if not that have iPods. (Most likely iPod touches) They're familiar with the concept of "apps". Take a look at Apptopia. There are hundreds of apps up for sale because the current devs either can't capitalize on them or can no longer focus on them. There are dozens of apps that are free or ad supported up for sale that had 2000-5000 downloads per week, but generated no revenue for the dev. I taught myself HTML and web programming when I was 15, so a 17 year old can teach him self Objective C. Spend a couple grand on some failing apps, make what improvements you can, market them appropriately, then continue this cycle off of the revenue you generate from the apps. I think this scales, and it can scale QUICKLY.

Thanks for mentioning Apptopia, Jeremey! I just recently joined the Apptopia team and I must say, your thinking is right on. One of the main goals of our marketplace is to connect mobile app developers with business-minded marketers that may not have the technical skills to build an app on their own. Right now I'm also working on a ton of content for the website to provide buyers with all the tools & resources they'll need to optimize their app's monetization once they've acquired it. Take a look at some of the apps we currently have for sale here and shoot me an email (Chelsea AT Apptopia.com) with any questions!

 

[Mike39]

A 17 year old high school student isn't going to be trading. He's not going to be investing in real estate. He'll barely have time to find or build a product and market it, since he's in class until 3. Today, most high school students have cell phones, if not that have iPods. (Most likely iPod touches) They're familiar with the concept of "apps". Take a look at Apptopia. There are hundreds of apps up for sale because the current devs either can't capitalize on them or can no longer focus on them. There are dozens of apps that are free or ad supported up for sale that had 2000-5000 downloads per week, but generated no revenue for the dev. I taught myself HTML and web programming when I was 15, so a 17 year old can teach him self Objective C. Spend a couple grand on some failing apps, make what improvements you can, market them appropriately, then continue this cycle off of the revenue you generate from the apps. I think this scales, and it can scale QUICKLY.

I respect what jdig says but I disagree, why spend a couple thousand trying to mend someones failed (and probably worthless) app when that same couple k could go towards your own original app? At least if it is your app you can make necessary changes to the app and fill a need, that's like buying a 10 year old ice cream truck for 20k that is broken down and worthless instead of building your own ice cream truck for the same price. Besides, I know this is ridiculous coming from someone who develops apps, but I think the app market for both android and iphone is extremely saturated, it's not a good market as far as entry when every todler, 20 year old, and grandparent is making apps thinking they are going to get rich. Just MHO, I would stick with stocks before I spent my money gambling on the app market

 

[ChelseaT]

I respect what jdig says but I disagree, why spend a couple thousand trying to mend someones failed (and probably worthless) app when that same couple k could go towards your own original app? At least if it is your app you can make necessary changes to the app and fill a need, that's like buying a 10 year old ice cream truck for 20k that is broken down and worthless instead of building your own ice cream truck for the same price.

Hi Mike- None taken.. I love my job and our company culture is amazing, not like you're thinking at all. I just wanted to point out that, like Jeremy said above, these apps aren't failed in the sense that users didn't like them; these are apps that developers may not have put time into marketing in most cases. Therefore, they never really had the chance to succeed. Also, once an app is acquired it is rare that buyers don't have the app's function or design altered in some way to improve the app and make it more marketable. We help them connect with the developer who originally made the app for these changes or other great firms we know. So these apps not worthless at all, they are more so looking to be revived and re-marketed. And to say that the money spent acquiring an app could be put toward having one made makes sense, except it usually costs the same if not more to have an app developed and it takes a long period of time to do so. I hope this puts things in a different light for you, as all we're trying to do is help developers find an exit strategy.

 

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[Mike39]

Hi Mike- None taken.. I love my job and our company culture is amazing, not like you're thinking at all. I just wanted to point out that, like Jeremy said above, these apps aren't failed in the sense that users didn't like them; these are apps that developers may not have put time into marketing in most cases. Therefore, they never really had the chance to succeed. Also, once an app is acquired it is rare that buyers don't have the app's function or design altered in some way to improve the app and make it more marketable. We help them connect with the developer who originally made the app for these changes or other great firms we know. So these apps not worthless at all, they are more so looking to be revived and re-marketed. And to say that the money spent acquiring an app could be put toward having one made makes sense, except it usually costs the same if not more to have an app developed and it takes a long period of time to do so. I hope this puts things in a different light for you, as all we're trying to do is help developers find an exit strategy.

Lol. It's like flippa, you can/will get scammed if your not careful, and in ANY app it comes down to marketing, people are making money making cheap apps with no prior sales and selling them to hopefuls who are to lazy/inexperienced to build or even outsource their own, hell I will probably do that sometime soon for an easy couple of grand. I appreciate your attempt to draw people back in but my statement still stands, you are better off: 1. Not getting into apps AT ALL or 2. Making/developing your own app that is more marketable or fills a need rather than the 99% of the junk you have to filter through on apptopia. You have put in your .02, I have put in mine, please leave it at that, we are all big boys here and can make decisions on our own based on what we read. I hope you stay with your company it will do very well in the coming years with every bill, bob, and ben wanting to get some skin in the app game!

 

[andviv]

I just recently joined the Apptopia team

Welcome the the fastlane forum, Chelsea.

Right now I'm also working on a ton of content for the website to provide buyers with all the tools & resources they'll need to optimize their app's monetization once they've acquired it.

I see that company is filling a need and improving. I like that.

I also see you are reaching out to your potential customers and making connections. Please tell your boss he made a good decision hiring you.

I think the app market for both android and iphone is extremely saturated, it's not a good market as far as entry when every todler, 20 year old, and grandparent is making apps thinking they are going to get rich.

Mike, this is true, but still.... I still see a lot of opportunity. Problem is, I think, that people want to get rich selling $.99 apps and I believe the opportunities are in using Mobile as an extension of a bigger product/service.

I have no problem saying that 1 post below some slowlaner who is working for apptopia (and probably making the owner very rich for her measly 50k annual salary) No offence Chelsea...

I think this comment was not needed...

Hi Mike- None taken.. I love my job and our company culture is amazing, not like you're thinking at all.

Thick skin. I like that.

It's like flippa, you can/will get scammed if your not careful

True. Just like on eBay. Or Any other market where you buy from another person.
Heck, you can get scammed investing in SEC-regulated companies (ask Madoff's customers, they will tell you).
I don't think this is the market's fault. Due diligence is needed for any investment, don't you agree?

ANY app it comes down to marketing

Another truism. Same as in any other industry, no?

I appreciate your attempt to draw people back

Mike, you are missing a great lesson here... this company has hired somebody whose role is to facilitate the transactions and, on top of that, to reach out to sites likes this to provide customer service. I think this is a good lesson to keep in mind.

I hope you stay with your company it will do very well in the coming years with every bill, bob, and ben wanting to get some skin in the app game!

We agree in something here... This company will probably do great. There is a need. A market. And they are there to provide a service, fill the gap and at the same time fill their pockets doing so.

Maybe this market is big enough to have a competitor?

Mike, what if you create a market like that but work on a way to solve the issue you mentioned, where people get scammed? Maybe that is your great opportunity as you seem to understand the problem very well.

 

[andviv]

I don't think you (andviv) are being fair to your fellow forum members to lead them on to think that this is a quick 2 step solution to wealth and fortune.

Funny, I talked about the company that provides a market for these transactions to occur, I don't recall saying anything about flipping mobile apps being a get-rich-quick solution.

I DO respect their business from a business point of view (good staff, reaching out to potential customers, etc.)

We agree. And this is what I was pointing out. I think that company probably meets most if not all of the CENTS commandments. Great potential and, for what I am seeing, good execution.

I removed the "comment" so that nobody feels the need to protect the poor, innocent, salesman.

And you should see me in my underwear and wearing a cape... I look great. From now on, please call me Super Andviv!

 

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[Jake]

Edit: Yes, I have no problem saying that 1 post below some slowlaner who is working for apptopia :smxB: (and probably making the owner very rich for her measly 50k annual salary) No offence Chelsea...

:tdown: it's a startup. I'm sure these "slowlaners" have equity in the company.

I found a job posting from April

"Apptopia offers a competitive base salary, bonus, and benefits package among other perks:

Vacation, take it when you need it, no defined schedule
Employee #3 = real equity
Monthly allowance for gym membership and Uber Cab!
You pick your set-up hardware (computer/monitor/etc)
The latest iPhone"

 

[Eskil]

You big ole mathematician. I need the formula you used to do this please.

Here you go:

(more here)

 

[Pete799p]

I dont understand why so many people hate on those with jobs like they are all suckers. The reality is that many of these people involved in start ups go on to start their own successful companies. A job with a fastlane mindset is an opportunity in and of itself and I believe many very successful people on this forum will agree with me.

 

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[Rainy_TX]

Wow... this thread was a long, but awesome read! I recently had an idea that was made into an even better idea by the suggestions of some of the readers here... so now, my website is in coding. It should be finished around the end of September. My brother is my partner and while we are waiting for coding to wrap up, we aren't just sitting around, we are actually researching and learning as much as we can about marketing, be it viral, social or ad based. If we hit the ground running when the site goes live, I am confident that this is our fastlane vehicle! It solves a problem for both business owners and graphic/web designers, it will have "memberships", there will be an affiliate side and it has the potential to removing us from the equation in the future. If we market it correctly and put much effort into it, I can see it meeting the 1m mark in 15 months. So far, we have spent $2000 on coding and $124 on books.

I know that I have read several posts in this thread about doing this exact thing, so thanks for the motivation!

 

[PeteLife]

5 years later and this thread is still a great read...

 

[PatrickP]

Ok I am going to take the contrary view, yea yea I know BIG surprise LOL

Or maybe just say it is a Call Out Post.

This thread is 5 years old.

Who that posted in this thread have done what they said they would do if they had 3K to turn it into 1 mil?

NOT saying you are a failure if you don't now have 1 mil.

Asking how many posted in this thread and actually got something started and followed through with it?

 

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[ChickenHawk]

Here is how I would do it.


Since $3K is not a lot of dough and it must churn to $1m, our scope of options is limited.
Our business must be internet based since inherently, we must reach and impact A LOT of people with our product/service.
Our business must use FREE, open source software in our site development with the our capital allocated toward custom applications.
Our marketing must have a solid affiliate program with decent compensation to encourage affiliate marketers to participate.
Our product/service must have "sizzle" or a marketing "hook" that is newsworthy. Can be something entirely new, or a new spin on something old.
Our product must go viral through the use of home grown videos that can be uploaded to video sharing sites.
Use of social networking sites like MySpace / Facebook to promote and go viral.
Use of press releases to promote the sizzle.
Our product/service must have a easy to remember domain name that can be rehashed and vocalized quickly and easily.
Our website must incorporate upsells and/or other affiliate programs to monetize the site traffic - most popular being Google Adsense.
The final piece -- finding that product or service that fills a need, or fills an old need, better. Clever marketing (like the pet rock) can take you places and even get you to your goal of $1mm, but its longevity is finite.

Holy crap, I'm working on a project right now that uses almost this exact roadmap, right down to the videos. Of course, I know that execution is key, but it was SO exciting to see this post, MJ. Why? Because this tells me that some of the Fastlane principles are FINALLY sinking into my thick, slowlaney head.

"The Fastlane" book hasn't changed my life yet, but it's definitely changed how I think AND act. I'm very thankful for that.

 

[mrsilva]

Ok I am going to take the contrary view, yea yea I know BIG surprise LOL

Or maybe just say it is a Call Out Post.

This thread is 5 years old.

Who that posted in this thread have done what they said they would do if they had 3K to turn it into 1 mil?

NOT saying you are a failure if you don't now have 1 mil.

Asking how many posted in this thread and actually got something started and followed through with it?

Exactly. Trying to see some real action!

 

[nzerinto]

Ok I am going to take the contrary view, yea yea I know BIG surprise LOL

Or maybe just say it is a Call Out Post.

This thread is 5 years old.

Who that posted in this thread have done what they said they would do if they had 3K to turn it into 1 mil?

NOT saying you are a failure if you don't now have 1 mil.

Asking how many posted in this thread and actually got something started and followed through with it?

I looked up kurtyordie, the guy who started a sub thread to document his progress - his project didn't get very far, although at least he tried. Seems like no success stories from this thread....

 

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[andviv]

Seems like no success stories from this thread....

really? A guy here documented making 'only' $700K. Did you miss that?

 

[LamboMP]

I think I was the first or second person to respond to this thread back in 2007...

I certainly didn't accomplish the $3K to $1M in 15 months (nowhere close), but I got my business started and followed-through with it. I started with a good bit more than $3K and my business isn't entirely passive and never will be (I rehab/flip houses), but if you include consulting income, I hit $1M in net income right around the 4 year mark. This was working an average of about 10 hours/week, as I started a family at the same time I started the business, and family has been my priority.

By the definition of "fastlane business" generally used here, mine certainly isn't...but I'm happy with what we've accomplished since this thread started...

You have accomplished more than most will ever do. Hats off to you brother.

 

[nzerinto]

really? A guy here documented making 'only' $700K. Did you miss that?

Yep I must've. Read through the first 10 pages or so, then started skimming the most recent posts, so yep, obviously totally missed it. Who was that?

 

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[theag]

You expect him to look it up for you because you're too lazy?

 

[andviv]

if you include consulting income

I assume you mean consulting related to the RE business. Or you mean back to some IT related stuff from your previous life?

 

[andviv]

Gotcha. That's what I thought. Thanks.

 

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[nzerinto]

You expect him to look it up for you because you're too lazy?

Nope, but if he knows the amount the person made, I would assume he would also know who it was. Logic no?

 

[andviv]

Yes, I know the person. We met at one of the B&P meetups some time ago. Pretty clever what he did. Not extremely complicated either.

 

[Brentnal]

what are the basic things you need to know and have to start a ebay bussines?

 

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[Gsuz]

Brain + internet

 

[Russ H]

Ok I am going to take the contrary view, yea yea I know BIG surprise LOL

Or maybe just say it is a Call Out Post.

This thread is 5 years old.

Who that posted in this thread have done what they said they would do if they had 3K to turn it into 1 mil?

NOT saying you are a failure if you don't now have 1 mil.

Asking how many posted in this thread and actually got something started and followed through with it?

Hey Patrick,

I started this thread. Not to make millionaires-- to help people start to THINK like millionaires.

I was a millionaire when I started the thread, so I guess I don't count.

I do have 4-5x as much money now as I did then, tho.

Given that we've been going through the biggest worldwide recession in the past 80 years, it's good enough for me.

I don't know who you are (I don't spend that much time on these boards right now). But I'm curious: Why call out others?

Millionaires do not sit around measuring the success of others. We have more productive things to do.

-Russ H.

 

[MPCTrainer]

The quickest and easiest way I could suggest (though I'm using the model of product creator myself) with 3,000 dollars is Affiliate Marketing. I'll write this in a you format because I think better when I explain what other people should do. 3,000 dollars means that you can open up a series of websites very easily, and as you learn how to launch blogs, web pages, optin pages, and more, you'll get very good at web design and can even begin to offer your skills to local businesses. Not to mention you'll get good at SEO.

One sign up with Clickbank as an affiliate. Search their products for things that you're interested in promoting that you can find an audience for.

First, create a Niche page. This would be an authority site. Go and buy 20 or 30 dollars worth of PLR material--heck even 50 dollars worth of PLR material--in that niche. Your welcome page, the home page, is just a story of how you came to understand the niche. The blog posts--at least 10--so four thousand words--go around the subject. The optin page is on the side and you can pay and get Pop-up Domination for 79 dollars or you can use the free Wordpress pop up to offer your product. This Niche page should be based around a long tailed Keyword.

Up front costs: Autoresponder service 19 dollars a month
Hosting: 120 dollars for the year
Webdomains: 11 dollars for each one (10 within the first two months--110)
Optimize Press or Sales Press Pro--100 to 127
PLR Material To Get Optins and Entice People To Take Action- 200 dollars
The first month, you're looking at 550 dollars or so.

Then, you create pages with each of the products name on it that you want. You then have those pages linked to your Niche page--the links will appear on the sidebar. You'll have product reviews on your Niche page as well, but, you're just building a link structure to create authority and generate organic traffic.

Your blog pages that will sell the affiliate program should have your optin on the side as well--you should also have another PLR product (or a group of PLR products (another 20 to 50 dollars worth) offered on each of the blog pages. Titles you want to go for Theproductsnamereview.com Theproductsnamescam.com Theproductsnamesecrets.com

Two weeks time on learning how to set up the websites, it's really easy when you just type into youtube how to do anything you don't understand how to do.

Now, you want to maximize your results as quick as possible, I suggest buying Sales Press Pro or Optimize Press (i'm a bigger fan of optimize press). They're templates that let you make dynamic sales pages quickly and easily. 100 dollars or 127 dollars, both are quite affordable. You take my advice you've now spent 600 dollars of your three thousand in the first 2 weeks.

you have 2,450 dollars left and you haven't yet begun to see traffic coming in.

Create an Optin site (this is where you're going to send all organic traffic through articles, forums, blog posts).

Create a Facebook Fan Page For The Niche--post inspiring pictures (just search the internet for them), and run an ad to promote the page. Put a 10 dollar a day limit. Work on your ads every three days to see which one's converting and then copy them.

Here's the basic crash course on Facebook ads to get likes on page--one The picture needs to be catchy and interesting (but don't get it censored) the text needs to offer a benefit for liking the page.. GREAT QUOTES TO INSPIRE YOU TO... or something. Your two weeks in.

On that fan page in the info box, you'll have an offer and your website link. Three times a week, you'll put a post out that says sign up, and get put into a pool to win--and come up with some other PLR product you haven't released.

Okay, when people optin--you want them redirected to the Affiliate Product, with your affiliate link. The email your autoresponder will send will contain the link to the products.

If you manage your page well, and put up five pictures a day, 2 in the morning before school, 2 in the afternoon after school, and 1 before you go to sleep, you should be seeing a large amount of likes building up in your site. Also within 2 weeks, you should begin to see optins coming in.

This is more preferable for what you're main aim is--you can also advertise occasionally 10% of the time--affiliate products through your Facebook Fan page, which means, all these people are also opting in in one way to your eyes.

At 70 Dollars a week, you should run this for a full month and see where you're at. You want to keep changing up the pictures and ads and you want to make sure your images are having viral effect.

Go for one month 210 dollars. That brings you down to 2140 dollars. New month, new charge on your account, 19 dollars, you're doing to 2120 dollars.

You need an engaging structure of emails. Your emails need to tell people about the subject matter, inform them on pieces and nuggets of information, and then, they have to tell them about a great product you've checked out.

Also, don't forget to put adsense on your websites--Google tells you exactly how to do it. From your niche blog, to your review blogs, you want to have adsense on all your sites.

Now find another product in the same niche, do the same amount of websites, put them up on your main niche page, and with the same offers, and with adsense.

Do this with three products in a niche. which means you'll have 10 sites as previously said. Three blogs that are connected to your Main Niche site.

By month two, you should have an Active fan page that has a lot of viral pictures and that's constantly organically growing. You should have 10 websites up and running with a review and an offer and an affiliates link. Three you should have a list building. Four you should have 2,140 dollars left.

Next, I recommend buying Camtasia for screen capture video and hopefully ou have some form of Power Point or the ability to create a slide show. If not, and you're starting from scratch, this could get a little costy, but, it will be well worth it in the end. At most you'll spend 500 dollars on these two things. If you have a mac computer you'll spend 300 dollars on these two things. We'll take 500 dollars.
that brings you down to a grand total of 1621 dollars.

Teach your subject, lower your voice, talk into a microphone, and create a slideshow presentation and record it to make videos for Youtube and Vimeo. Again in the subject you're going to put your site and your optin information. Use again long tail keywords so that they can easily be ranked.

Two videos a week will do great. Basics, Create a title open, get some free music, and then, start off with 90% teaching, ten percent telling them that they should sign in and get a bunch of free stuff, and more information.

Register a fiverr account, send backlink pyramids and backlink wheels to your youtube page, 15 dollars worth should do it, for the long tail keyword, and a main keyword. That's thirty dollars a week. so, now you're spending 100 dollars a weeks. But, you should be seeing massive amounts of optins and getting conversions at a large rate--especially if you picked a dynamic niche.

Post your youtube videos on the Facebook fan page, and after the second month, you should be able to quit all advertising. So that's 400 dollars more. 1221 dollars.

Now, let the viral effects do the work for you. Keep up putting pictures, keep posting your videos--remember, they don't have to always be new pictures, after 3 weeks of five pictures a day, you can start recycling the pictures so that people who are new can see them for the first time.

All in all, it takes about 2 hours to set up a blog with three 500 word posts. It takes 5 minutes a picture to save picture as and load it up to your facebook fanpage, it takes 20 minutes of going through your ads every three days to see what's high performing and what's failing and maybe an additional 20 minutes to set up everything. It takes 5 Hours to set up a major Niche site that looks good. Headers and the such can be bought at fiverr for five dollars. so that's an additional 50 dollars for the headers. 1171 dollars. Not counting the money you should see begin to pour in from your affiliate links.

You begin to publish articles. Release press releases (there are 100 free Press release sites, and you send people to one of your blog pages in the press release sites). you talk about the magnificent product someone released, how it will accomplish something, and then you point to the blog that reviews it.

This will pull in a lot of major backlinks for you and it's all free. 400 words a press release. Do 10 a week. That's two a day. On average, an hour's work tops.

Your current expense is the 30 dollars a month you spend on backlinks to your two new youtube videos each month around keywords.

Each month 120 dollars gone. The third month brings you down to 1000 dollars.

By this time, with all of this being done, by the fifth month, with 760 dollars left, you should have 100 press releases out. If you go and buy a 17 dollar article spinner, and spin the articles, you can have 5 times that amount with only an additional hour of work on the articles each day. All for free. You have 28 videos out with a series of backlinks and well tuned. The videos should be entitled How to.... 3 Easy Ways to... How Does... How Can... How you... Niche Effectively... so forth and so on, short tailed and long tailed keywords. Which means in a mere 5 months period, with 2,240 dollars spent, no one should be able to search the niche you're advertising without finding a link to one of your affiliate offers.

The money should be rolling in at that point.

You can then let your current system just function--or, if you want it to really make you money, outsource the work for 50 dollars a week (at that point you should be making 200 dollars a day or more), and let them continue to keep your facebook page going, buying the backlinks to keep your video relevant.

Next: Find another niche, do this process all over again.

In 15 months, you should have a lists in the tens of thousands and sales that prove it.

Create a massive affiliate marketing program on the system you used and sell that system. And there, you have a million dollars.

 

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[ALSL]

Just out of curiousity, MPCTrainer, is this a regimen that you have followed? Are you making in excess of $200/day with this method? Or is this all just theoretical?

 

[MPCTrainer]

This model isn't just mine. I developed it with my friend who was unemployed at the time, had a bit of money saved up, and wanted some help in going through all the material in market he had collected (he pirated a lot of stuff). So, we got to work, we're both very talented at synthesizing vast amount of material. We developed this system. The first product he began to market was a weight loss product off of Clickbank that wasn't getting much traction--Steve G. Jones hypnosis program. We built a simple website. We built the simple blogs. We attached adsense to all three blogs. We didn't do the video marketing until only last month and we started a year ago. When he did the video marketing it was for an off Clickbank sales course. Altogether, he's marketing 20 some odd products, he's got sixty websites, and he just got into a severe accident that's involved me to manage the outsourcing of everything. He makes about 20 to 40k a month right now. The press releases he didn't start in his first products--did a lot of article marketing instead. Moved to press releases after Panda because they took less time and spread out over the internet far quicker.

This is the final system that we've decided on and when he gets better, we're planning on putting it together and marketing it.

The 200 a month is an estimate. At the end of five months, he'd launched marketing for 7 products, was using payperclick to get people into his optin page, and he was making anywhere between 800 to 1000 a day.

I at the time was working on a completely different business endeavor and didn't hop onto the internet marketing bandwagon so my experience is limited to my personal knowledge and what I saw.

In June I'm beginning the launch of my expert empire, I'll be creating a thread on this board on my journey, the strategies and techniques I'm using, and the hardships and difficulties I'm facing. We'll see how well the system is holding up and working soon.