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Old April 26, 2021, 09:49 AM
Dien Rice Dien Rice is online now
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Join Date: Aug 2006
Posts: 2,815
Default Re: Survey, sort of. The MINIMUM dollar amount to start an Internet business?

Quote:
Originally Posted by GordonJ View Post
1000 bux.

5000 dollars?

10K?

I think a bootstrapper, with TIME to work her biz, can start for 3 thousand dollars. It gives her a web site, tools, and a little for marketing, IF well thought out.

What in your opinion is the MINIMUM amount of MOOLAH it takes to start and sustain a cash flow Internet business?

Any examples would be appreciated too.

Gordon

PS Likewise, the minimum to start an OFFLINE cash cow, albeit, just a calf to start, but one that grows quickly. And again, any examples are appreciated.
Hi Gordon,

I think it partly depends on how fast you want it to get going... Fast or slow?

If you know what you're doing, money can buy you faster growth...

For example, if you have unlimited time... You can create your own info-product - which could be a course, for example...

Again, if you know what you're doing, you can create a sales message to sell your course to buyers...

Then, you need targeted traffic (i.e. qualified leads) to see or hear your sales message...

You can do this with virtually no budget... But it would most likely take more time to build.

If you can spend money on advertising, that can speed things up immensely...

I think I would want, ideally, $1,000+ budget (more is better), mostly to spend on advertising...

There are ways to do it with little or no advertising... But it would be slower...

I would aim to build up an email list of qualified leads... If I have their email, I can market to them over time, which (as long as I'm also providing good free stuff) will build up a relationship with my email list... Which is more likely to lead to sales...

In this scenario, I'd be pretty much doing everything myself (creating the course, creating a website, creating the sales message, creating various free reports to entice people to join my email list, and also valuable email messages to send out)... You can outsource some of these things, but it will then cost more money (and you'd need a bigger budget)...

It's easier to do with a bigger budget, than a smaller one...! But... your "downside" is also greater if it doesn't work out!

Best wishes!

Dien
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