Discussion in 'General Business and Entrepreneurship' started by TannerD, Jan 20, 2016.
If you had $1000 now to start again what would you do with it?
I kind of answered this question in another thread, so my answer would pretty much be the same ($1,000 or $10,000 startup).
Here are two scenarios.
- AFFILIATE MARKETING (fast results)
Master Facebook advertising (or any advertising method). Start with a few dollars per day to test a handful of ad campaigns, then see which is performing best and keep tweaking it til you find success. This includes split testing landing pages, data sources and increasing your volume and payout. Once you start to find a higher ROI and more success with the campaign, I would continue to scale it out to different traffic sources and markets.
- CONTENT SITE (slow results)
You really only need $50-$100 to get started with a site of your own. You can find a very niche target audience, create a great site with monetizable content and build it up over time. Without spending too much money you can promote your site through social media, guest blogging, press releases and interviews to get more link back to your site and higher search rankings. The model takes more time, but works time and time again when you are building the right content and hitting your target audience. (review and coupon sites are perfect examples of this)
what about Trading Zac? do you trade? thanks for your valueble time.
Unfortunately yes, I used to do stocks a lot and it didn't go to well
Check out my interview with Tim Sykes and how he turned his $12k into $4 million with day trading
I would probably start a small bookshop business. It has always been my dream
I would honestly invest it in a Java course, because I want to learn how to develop apps for Andoid. I have the basics of Java, I just need to learn how to connect the dots and how to write high quality code. Once I get good at Java or any other programming language, it's way easier to get involved in startups rather than having no technical background.
First to be honest with you, I will give my tithe of 10% and then invest the remaining in a business of choice.
I'd go with something like this. Invest in something that would be good for a resume, real life, a job, etc. I've always wanted to look into SQL since I do know some java and web design and stuff so that would help balance me out with more skills.
Well it would certainly depend on my financial stability, but if I were able to use it with no consequence I would have to say a high risk investment would seem to be likely, but if I may have to rely on it then I would certainly think otherwise in investing in anything that is potentially risky. Finding a good local startup where you can see your money grow is always a good idea in my opinion.
I would just buy a cheap url, create a free google site, connect it to the url, head over to amazon, find great products, use affiliate links to sell stuff by directing people to a bunch of reviews and description about the product on my site. Then, I would go to fb and buy like $10 worth of ads per product, and post an ad for the product(s). That's it.
I would invest in some marketing and advertisements. This is a must when launching anything new..and want a larger audience. I need more than just Facebook friends, Twitter and Google+ followers. We want to be able to reach a larger demographics and sometimes you have to pay to play.
I'd buy a url, hire a few content writers for a blog and then connect it with adsense.
Being a boring and practical person I would pay down my mortgage. I can build my earnings using mainly my own labor or in-kind exchanges with others. But I can only pay down my debts with cash money.
I have many priorities, however, considering the fact that I only have $1000, I would invest this money in building infrastructure in my dairy farm
It can be very easy to blow all that money on a bunch of tools and services, and not get much benefit out of them - particularly in the short term, so be careful. I went on a bit of a spending spree last summer when I came into some extra money and blew most of it on a bunch of SEO related stuff that I was never able to take full advantage of. Many of these services were monthly expenses, so if I didn't get enough done in that one month, I basically wasted my money, which is what happened.
You didn't specify this in your original post, but if you don't yet have a web site, that would be the first thing I would invest in. But it's important to keep your costs down when doing so, so you have money left over for all the other stuff you will need. You can get a 1 year hosting package which includes a free domain name from many popular hosts such as Bluehost, for around $50 or so, if you pay for the year in advance. Anything cheaper than $50 a year probably won't be worth it, and will likely be too limited in what they offer, imo. No matter what you are selling or promoting though, you will need some sort of official web presence.
Next I would likely install Wordpress, and purchase a professional looking commercial theme for it (in lieu of paying an arm and a leg for someone to develop a custom one). You can get many of these for under $100, and a lot of them provide a bunch of additional controls within Wordpress to tweak and customize the look and feel of your site without having to touch any of the code.
Similarly, you can also purchase graphical assets and plugins from marketplaces such as Envato to finish your web site and give it the necessary functionality you may need, such as creating custom forms, custom post layouts, payment processing, and more.
By then you should still have several hundred left over to start getting other things you may need, such as paying for writers to develop content for your site, SEO services and such.
I don't know SQL, but some of my friends work with databases pretty easily. They tell that it's relatively easy to master, especially if you have some basic knowledge of programming.
Go for it, even if you only have 5 minutes a day. 5 minutes every day is better than nothing.
As much as I know investing the money would be a practical idea, I've also always wanted to fill my bathtub with Twinkies.
I would go out and use it to make $1,000 more! It would more than likely become seed money for capital for an online inventory of items guaranteed to sell, or an investment toward Amazon or some proven lucrative business direction that I know will yield more than invested by a certain turnaround time. If it were a higher amount, I might invest a partial amount of it into stocks (futures trading at this point), or even use it to invest in items I use frequently that cost more money to buy individually over time.
Buying what you need for the office or personal use can be much more expensive when you have to obtain it at retail price, but much more affordable and economical if you can get it in bulk. So if I decided to wait on investing it toward stock for selling items online, I would use it to save money on expenses I already make at places such as CostCo, WinCo, or Sam's Club.
I would use some of the money to start my astrology website and redesigning my blog. The rest I would use to travel. There are a few places that I want to visit this year but financial constraints have been stopping me.
1. Save $100 or more.
2. Spend $100 on tithe.
3. Use roughly $50 for marketing on some freelance sites (to boost my side hustle)
4. Use roughly $100-$200 on business supplies and any bills I have on the moment
Hide the rest until I find a way to make more.
Separate names with a comma.