20k of budget after selling my house: which are your advices? (20)
20k of budget after selling my house: which are your advices?
Hey everyone!
I am about to sell my house and I’ll find myself with 100k… yey!
Even if I like(d) my house, it’s now a decisive and significant moment.
For my biggest project that has now finished the developing stage (it’s a booking platform), I’ll have to hit the more important cities of Italy, with the aim of collecting partnerships.
For this reason I will buy a caravan, in order to move freely and to hit as many city as I can.
I suppose a cost of 10.000€.
I will need a motorbike, too (very useful for moving around when the caravan will be parked).
I suppose a cost of 1000€.
10k+1k=11k, but let’s make 15k, just to be sure.
85.000€ left.
Then, I will have to buy a new home in 1 year (or I’ll have to pay a lot of taxes).
Houses are expensive in Bologna, but I hope to find a deal and spend 65k.
I will need it as a base point on which I can count.
20.000€ left.
How would you split this budget, considering it’s the first time I will have a significant amount to spend for AM?
Here’s a shortlist of things I would like to test:
- a product of the beauty-niche… I wrote about it here https://stmforum.com/forum/showthrea...pping-campaign (I’ll do FB Ads and Google Shopping);
- some sweepstakes offers (never tested them, so no past experiences at all);
- an ebook for the adult niche (Vortex suggested me to build something solid… I still have to figure out how to proceed. I’ll write a follow along soon);
- a drop shipping e-commerce (something simple, to test and find hot products that sell).
Which is your opinion?
Should I consider something in particular?
Does the booking platform supplement your income? Or does it also cost you money?
Why would you not go all in into that already? Why do you want to spread yourself thin on many projects?
Hi lukeexperience , i like your mindset .
This is my opinion , if i have that budget for AM , i will think about self improvement and choose good mentor to boost my skill .
i think this is excelent choise https://affcelerator.com/join/ Charles Ngo @Dr_Ngo
Think about it .
Best
Originally Posted by Vladimir10
Are you sure that this is the best way to handle your online business budget issues?
Like in any other business, in online business things can easily get out of our control and 20k may not be enough to include a backup plan.
Instead of selling your house, you'd better look for an alternative income source. Time may be a problem but if you manage to find something steady you can consider getting those 20k through a loan.
Besides that, you have to consider that the quality of your life will noticeably change when moving from your house to a caravan, so make sure these changes won't have a negative effect on your projects.
You have liquid cash, so it's worthwhile to hold onto it as a backup in the event things go sour with any of your AM projects.
I personally would start small, funding projects on credit and paying them back as they become profitable, or with the cash if they fail.
Originally Posted by Vladimir10
My first attempt of finding a mentor has been subscribing again to STM and writing this post.
Something already came out, but the affcelerator you linked seems very interesting too... thanks!!
EDIT: I just read it more carefully and saw the price too, so it's not an option since I have other important projects that I can't stop at the moment.
How about a SpyTool to begin with? if you don't have that already, some domains which might help you generate more traffic?
Hi Manu!
Originally Posted by manu_adefy
It doesn't cost me any money because I have a collaboration with a marketing agency led by a professor of the IULM university of Milan, which is taking care of everything.
My 'only' task at the moment is collecting partnerships (as many as I can).
We aim for 50 partners to start.
Originally Posted by manu_adefy
Joking apart, I'm really putting all my effort in bringing some major improvement to my situation.
The booking platform is my biggest project: if it works, it could become quite big since there are no competitors all over the world.
For this reason, I'll put 100% commitment on it during the day... but I will still have my nights free!
So, considering that...
- I have a nice budget to invest on AM for the first time;
- I have some ideas that could be valuable;
...I don't want to lose the chance of seizing opportunities now!
I am more than ready to make sacrifices in order to "promote" a better world for me and the people I love.
There's a serious risk that you lose focus if you have too many projects at the same time. Have seen it happen to others, has happened to me as well.
I'd seriously suggest you focus 100% on one. You also have the nights free to get more partners, learn how you can improve the product, diversify its income stream, etc. So many things you can do from one starting point that is profitable already. Even if you won't do it with the same team, something adjacent to it, where the contacts you make for the booking platform can help you personally too seems like the way to go 
Originally Posted by manu_adefy
I'd seriously suggest you focus 100% on one. You also have the nights free to get more partners, learn how you can improve the product, diversify its income stream, etc. So many things you can do from one starting point that is profitable already. Even if you won't do it with the same team, something adjacent to it, where the contacts you make for the booking platform can help you personally too seems like the way to go
What about a dropshipping product that I tried to sell as an experiment when I had no money to invest (I made one campaign with 70€ in total), and that is making some sales, without doing nothing now?
To take stock of your suggestion, I could avoid diving myself in sweepstakes too (which I wanted to try).
I get the importance of your advice.
I got stranded many times because of my dispersive, megalomaniac attitude.
But now it's different.
I know I will be able to handle this (without exaggerating to much, of course!)
P.s. Me and my team already have spent 1 year in studying/analysing the market and improving the product. There's nothing more I can do now, beside gathering as many partners as I can (and potential partners, during the nights, are sleeping!).
Originally Posted by platinum
I don't know if selling my house is the best way to handle my online budget issues, but combined with the advantages of having a caravan and another (smaller) house... it's the best move I can do right now.
Considering that I will renovate the new house and that I'll try to resell it to make profits again from that, too.
Originally Posted by platinum
I already used a caravan for travel and work and it's not the most comfortable way... but it's the best one to hit more cities (and more potential partners) with the lowest budget.
I'll have to adapt for sure... and I hope it will be just for few months!!!
Originally Posted by brokerbabe
By what I know, spytools are expensive, so it's why I'm not considering those at the moment... am I doing a mistake?
Originally Posted by brokerbabe
First off I'm jealous that 100K would get you a house, car, and motorcycle, where I live (California, USA) a car is 30-100K, a motorcycle is 10-20K and a house is 500-800K for anything halfway good. And on top of that 50% of your income goes to taxes, and there is a 10% sales tax on the money you spend. Point being cost of living sucks so when I read your numbers, Im jealous.
20K for AM is not a lot imo. I've spent 100K+ trying & failing at various campaigns before I find a winner. And thats with 12 years experience and generating over 7 figures multiple times in the past. From what I gather your really new to the game so that puts you at an even further dissavantage.
My suggestion is to get a subscription to a spy tool and spend a few weeks out there trying to grasp as much as possible. See what other people are doing but understand that simply cloning a campaign and expecting a profit is borderline insane. Use it to spark NEW ideas in your head and run with those. Proceed carefully and cautiousely and always have a plan B.
Originally Posted by milehighclub
About taxes, there are maaany people not paying them here... so that's not a big problem, unless you start earning a lot (at which point, many people just relocate their residence and find different ways of "dealing with them").
Anyway, I was wondering...
Can't you find a cheap car for few grands? (for example, I paid mine 650€ and I call it " the iphonecar", but it was like the cheapest car ever.. a "normal" price for an old car is 2-5 grands)
Same for motorbikes.. you can find motorbikes for few hundred euros, but new and nicer motorbikes cost around 10k.
Same for houses.. I live in Bologna and in the city center you pay at least 100k for one-bedroom apartments, 200k for a two-room one (dining room + 1 bedroom).
The one that I'm selling now (which is 55 squared meters) had a cost of 65k, because of the neighborhood that has been infamous in the past... but I will still hit a 30k profit because of the renovation I did, so good for me!
So can't you find houses for a lot cheaper if you look around? I'm really curious!
A lot of mental masturbation instead of taking action. Had you spent all that time getting started instead of posting your life story here, you'd be in a better place already.
Originally Posted by mihalis09
Regarding taking actions, you are right. I have to take action, but I would like to share who I am and get value at the same time... and maybe one day I'll give that value back.
Really just do one thing and post a follow along.
Right now there is really not enough action https://stmforum.com/forum/showthrea...rt-people-make
If you are going to spend money on anything, I would suggest www.affiliateworldconferences.com/europe
- some sweepstakes offers (never tested them, so no past experiences at all);
- an ebook for the adult niche (Vortex suggested me to build something solid… I still have to figure out how to proceed. I’ll write a follow along soon);
- a drop shipping e-commerce (something simple, to test and find hot products that sell).
Over the course of less than a month, you've gone from wanting to get a freelance job:
https://stmforum.com/forum/showthrea...luable-for-you!
To seeing opportunities everywhere! This is tremendous progress IMO - not everything is about taking action. When you spend time working on aligning with your expectations, inspiration will come that will practically PUSH you to take action. This is called inspired action and is millions of times more powerful than forced action.
What Manu said makes a lot of sense - it's important to just focus on 1 or at most 2 things at the same time. Every time I get ambitious and try to do multiple things at once, things have fallen apart. I'd be busy every day but not making any major headway in any one endeavor. Much better to put all focus on 1 thing.
Now - regarding your 4 ideas:
Ecommerce isn't going anywhere, but dropshipping is becoming a bit saturated. Unless you have an edge that few other people have, I would suggest not to get started right now, because your other ideas look way more promising.
Sweepstakes offers I would suggest not to touch either. The other 3 ideas you've listed can all lead to long-term profits - assets you can build on and potentially sell later and retire off of. In contrast, running CPA offers on paid traffic will only make you profits for as long as you're running the traffic AND while the good offers are still around.
The beauty niche product - are you thinking of sourcing it directly from a manufacturer, making your own brand etc.? Can't really comment as I don't know what the product is or the demand/competition/etc.
Your adult niche ebook idea we've discussed on skype. Like I said, if it's capable of teaching people what it promises it would, you've got a gold mine on your hands. I would move on this ASAP. The space isn't getting any less saturated, and you're SO CLOSE to making money with that product!
The $20k can do MAJOR DAMAGE if you apply even just a portion of it on packaging the product (i.e. get a good copy writer to write a kickass sales letter and perhaps even the autoresponder series, get a good designer to design the ebook cover and sales page) and marketing it (paid traffic from FB, google, adult traffic networks, hiring someone to mass-contact webmasters to do email blasts to their lists and/or put banners on their sites and/or writing reviews for your product, etc.). Nothing is guaranteed to bring profits of course and I don't have a crystal ball, nor have I read your ebook, but assuming you have a good product, the $20k would go a lot further here than if you were to spend it on testing sweeps offers or ecommerce products IMHO.
It's always easier to brainstorm product or business ideas - they're a dime a dozen - than to commit to one thing and follow through with it to make it a reality. Don't fall into that trap.
Just because you've been working on that ebook for a while and the novelty has worn off, doesn't mean it's not still the great idea you originally thought it was!
To keep the dream alive, write down all the reasons WHY you feel the product will succeed. Do some research if necessary, to draft your marketing plan. Look at all the complaints from your potential customers and imagine how your product will solve their pain.
Then add to that list of reasons and read it regularly.
It may seem like a trivial thing, but it will do wonders to your expectations, which will have a DIRECT IMPACT on your future reality.
Best of luck and have fun!
Amy
Originally Posted by vortex
Apparently, I just have to avoid being dispersive and I have to focus on getting results...
Originally Posted by vortex
I will stick to the adult niche ebook. That's sure.
I will still have to gather partnerships for my booking platform at the same time, so two projects will be more than enough!
I will just give a very fast try to:
- the beauty product ---> I already have images and website, so I will check if I can hit the green again. I will try a couple of different GEOs too (adapting the material to a new language won't take me a lot of time). If ROI will be negative in all the geos, I will shut down this project.
- sweepstakes ----> I will wait to sell the house before trying sweepstakes out, but I'm curious and I'll check some offers to see how I can make them work.
Originally Posted by vortex
I'll evaluate what you advised and I'll try to find the right people that can accomplish it...
Originally Posted by vortex
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