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Thread: Refund Ventures!

  1. #1
    Join Date
    Dec 2009
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    Default Refund Ventures!

    Hi everyone,

    I'm getting about 1,000 dollars back on my refund, I have about 20 days untill I get it, but I've decided instead of spending it on luxurious items. I want to put it to work.


    Now with my skills that leaves me two options. Either the stock market, or buy an online business. (flippa.com is where I am planning on doing the online business transaction)

    Right now, I'm leaning towards the online business, due to the fact it's generally cheaper. With Scottrade I have to pay comissions and stuff.


    But with an new website, what in your opinion would be the safest way to go?

    I want to spend no more than 500 to buy the actual website, then put the difference of my refund into traffic and promotion.

    Any ideas? Please advise.

    Thank you
    -Zach Logan

  2. #2
    Join Date
    Apr 2007
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    Well I think it depends on the price of the website and your plan to grow it. Sure you could buy a great site for $500 but if you have no interest in growing the site then it could be a bust. So I think it depends on the site you find. Are you planning on building an authority niche or a smaller niche site that is just Google dependent?

  3. #3
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    Tennessee, USA
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    Hi Lisa,

    Since I posted this a few minutes ago, I've come up with some criteria I will follow when searching for the website I want to buy.
    This may answer a few questions but I will answer your questions in just a few seconds.

    MY search criteria is as follows.

    -----Online Business Venture Criteria-----

    --What just needs traffic to turn a profit?
    --Is less than 400 dollars
    --Not Boring
    --Has longevity potential over 50%
    --has an effective turn key model

    ------------------------------------------------------------------
    My idea is to buy a site that follows that critea, then pump a few dollars into traffic costs, I have a few ideas how I could do this.
    MY first thought is to buy traffic in bulk. But, i'm no expert in that.

    I'm leaning to ignore SEO in this venture, personally I believe it is great, but after a few revelations I've had, paid traffic is generally more effective (sometimes, of course there are variables) but I don't want to put in the Time Required for seo, though I'm not excluding it entirely, because my SEOing is pretty effective, ya know we all have our own methods, but it's like 6 months before I can see real traffic from that and I don't want to wait that long.

    The model I will build this company under is very similar to internet marketing, (buy traffic to promote an affiliate products, then calculate ROI start small then scale)

    Of course, the risk is I could lose everything (the entire refund) but I'm not too worried about that, this is honestly more fun than new clothes lol.

    __________________________________________________ ________________
    Below this line I will be speaking about the business venture criteria I came up with.

    --What just needs traffic to turn a profit?
    The first thing that comes to mind are products like adsense or, trafficzone, or another ppc ad display network. Though this is not the only way to turn traffic into money, it is the easiest (as far as I know)

    One other reason I added this criteria, because I asked myself, what website or online company just needs me to succeed. What can I bring to the table to make it succeed, well my first answer was traffic.

    ----------
    Less than 400 dollars
    Well, this criteria may be a little self explanatory, but the reason I chose this was because I don't want to invest everything on just one venture, and have no money to contribute to making the thing work, ya know?

    -------
    Not Boring..
    If ya don't love what your are doing, why do it? that's crazy right?

    -----
    longevity potential over 50%

    (age of domain name/ divided by traffic so on)
    will this site work only if it becomes a meme or goes viral? what are the chances this site will still be making money 1 year from now?

    Effective turn key model
    -I get busy with my day job, and with summer coming up, my time will be more and more in demand.
    Will lack of my presence, inhibbit this site or business from making money?
    regardless of the answer, I needed to ask that question.

  4. #4
    Join Date
    Dec 2009
    Location
    Tennessee, USA
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    Default

    I'm adding one more criteria, the goal for the amount I want back out of the site each month.

    Around 1,000-2,000 dollars.

  5. #5
    Join Date
    Apr 2007
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    I guess the "buy traffic" part is where you lose me. I don't have much experience with this at all and I'd be leery of buying traffic that is not targeted. I don't know much about those services as I've never used them.

  6. #6
    Join Date
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    Location
    Alexandria, MN USA
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    Default

    Although you seem more interested in the site than the investment, in view of your comments I would like to suggest a couple of important facts about investing if you should change your mind:

    You make more money with your own business than working for wages and you make more money with investing than you do with business, as a rule, and certainly if you know what you are doing. But, in my opinion, it is not either but both for those who want to be successful with money.

    With Scottrade I have to pay comissions and stuff.
    Why? I have invested for years and never paid a commission just as I have numerous bank accounts and never paid a bank fee (at least for many years—ever since I took time to start learning a little about money).

    You have to save up two or three thousand to start, but you can invest directly with someone like Vanguard or Fidelity. Invest in a whole market index fund or a Standard and Poor's 500 index fund and there is very minimal management fees besides.

    As to getting a site, I would be interested in knowing why you would want to buy a site rather than build it?

    If you do buy, I would be certain to buy something that has enough value to validate the cost. You have to look at what you can get for that amount of money that you could not produce yourself in a relatively short time.

    I admit to prejudice here, and I do realize the value of saving time by paying others to do some of your work, but personally I have always felt that the sites I value (other than the major projects like Amazon or whatever) reflect the personality of the site owner. Even if they are not "beautiful," when the character of the publisher comes across in the writing there is a trust factor that I appreciate.
    Good Success!

    Website: Success With Money
    "People will forget what you said, people will forget what you did, but people will never forget how you made them feel." —Maya Angelou

  7. #7
    Join Date
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    Location
    Tennessee, USA
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    Default

    Quote Originally Posted by James View Post
    Although you seem more interested in the site than the investment, in view of your comments I would like to suggest a couple of important facts about investing if you should change your mind:

    You make more money with your own business than working for wages and you make more money with investing than you do with business, as a rule, and certainly if you know what you are doing. But, in my opinion, it is not either but both for those who want to be successful with money.



    Why? I have invested for years and never paid a commission just as I have numerous bank accounts and never paid a bank fee (at least for many years—ever since I took time to start learning a little about money).

    You have to save up two or three thousand to start, but you can invest directly with someone like Vanguard or Fidelity. Invest in a whole market index fund or a Standard and Poor's 500 index fund and there is very minimal management fees besides.

    As to getting a site, I would be interested in knowing why you would want to buy a site rather than build it?

    If you do buy, I would be certain to buy something that has enough value to validate the cost. You have to look at what you can get for that amount of money that you could not produce yourself in a relatively short time.

    I admit to prejudice here, and I do realize the value of saving time by paying others to do some of your work, but personally I have always felt that the sites I value (other than the major projects like Amazon or whatever) reflect the personality of the site owner. Even if they are not "beautiful," when the character of the publisher comes across in the writing there is a trust factor that I appreciate.
    James, i just read this. my apologies for the delay.

    In regards to the site:
    Flippa is a joke, I spent a few hours shopping around, and nothing caught my attention, and the things that I did like; I could do, and do it better.

    That that's the way I'm leaning now. I've decided to resell a cyber commodity, I have suppliers, I can find customers. And a budget to advertise.
    But I'm still in the research phase, I've been discecting at least 50 other websites to figure out what I can do differently.

    I think I've found a few opportunities as the lack of customer service in this niche is (un)fairly rampit. To theres something, also appropiate product location. The commodity I'm selling has a ton of variations, so I think if I could get the user to take a customer product survey to help them locate the best package; that would also help this new site stand out.

    BUT OMG I HATE PHP!!!! I've been building a beta site, and I've accidently killed it about 10 times; fatal errors on line 1711 and whatnot. lol. But I think I came up with a solution around the obstacles I was facing.

    But- I mean, now I have a funcitoning (it aint pretty yet) beta website, and all it cost me was a little time.
    so, the buying a website is kind of out, unless I come across some dummy trying to sell their pot of gold for a nickle, I probablly won't be buying one. Most of them just want too much, for a very little site.




    But In regards to not paying commission; I'm intrigued. Now, my stock exhcange knowledge extends about as far as a door. I know enough to lose my money really (really) fast. But on the other side, I know enough to (possibly) grow my money. If I had to grade myself, maybe above the average 20 year old, but not qualified by anymeans to handle anyone elses money.
    Ya know?

    Hey though, I'm always up for learning! I've been practicing on ameritrade's (real time) simulator. If you have any website or something I'm down to check em out.

    Recently I've been reading "what works on wall street" by James O'Shaughnessy

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