How To Build A Bankroll?

[jriddick]

I do plan on building income-generating websites, but right now I still need to build my bankroll.

I've saved up $2,000 from working at my dead-end job, but there's no way in hell I'll pour it into a site without any idea of if I'll see that money again. I simply have no experience with a successful site and need to have much more before I can begin investing in web properties.

What are some good ways to turn that $2,000 into $3,000? Then $5,000? $10,000?

Car flipping? Sports gambling? Ideas? It has taken me a while to assemble this meager amount together and I will be damned if I squander it.

 

[MisterD]

I do plan on building income-generating websites, but right now I still need to build my bankroll.

Why wait on getting started? You can get hosting and domains pretty cheaply. Start putting together your content and learn all the aspects of running a successful site and driving traffic before throwing any of your $2k toward your projects.

Car flipping? Sports gambling? Ideas? It has taken me a while to assemble this meager amount together and I will be damned if I squander it.

Both of these are terrible ideas... Cars are one of the worst investments, unless you can get something desirable and unique - neither of which you'll get for $2k.
Gambling is a good way to lose that money too. There's a reason why casinos and bookies stay in business.

You should look for products and services that are in demand and try to find cheap(er) sources for these. I hate using the word arbitrage, but there it is...
One hint - services for sale in the BST of this board can often fetch a higher premium on other sites that have less savvy people looking for help marketing their websites and businesses. I'll leave it at that...

 

[eliquid]

The problem you are going to have, and why you don't have a bigger bankroll right now, is:

I've saved up $2,000 from working at my dead-end job, but there's no way in hell I'll pour it into a site without any idea of if I'll see that money again.

To the victor goes the spoils.

Scared money don't make money.

Protip: Money is MADE on the purchase, not the sale.

 

[IceToEskimos]

unwilling to assume risk in order to profit, but you want to gamble?

 

[Smeems]

The problem you are going to have, and why you don't have a bigger bankroll right now, is:



To the victor goes the spoils.

Scared money don't make money.

Protip: Money is MADE on the purchase, not the sale.

Listen to this bloke.

Without wanting to put words in his mouth, he consistently makes an extremely important point - when you spend money on campaigns you are buying data, not results. The more data you have, the better your chance to success.

 

[manihatethis]

My favorite quote is "Risk comes from not knowing what you're doing." - my boy Warren Buffet.

Point is, it doesnt matter if you spent $200 or $2Million. If you know what you're doing it's all good. I wasted $800 on facebook ads and it gave me fucking NOTHING. Some people spend several thousands before that AHA! moment. You gotta know what you're doing like anything else in life. The profit margins for some businesses are as low as 1-3%. You need to do spent hundreds of thousands AND sell them before making anything significant. Also, I can afford to lose a certain amount and it varies from person to person. For some people, 100k is just experiment money. They can test more and calculate based on experience. $2k is not enough but then again we all start somewhere.

 

[jriddick]

The problem you are going to have, and why you don't have a bigger bankroll right now, is:

To the victor goes the spoils.

Scared money don't make money.

Protip: Money is MADE on the purchase, not the sale.

No, that's not why I don't have a bigger bankroll.

I've poured money into website projects before, only to run out of $ before I've met any success. And then I'm back at square one again, at capital formation for my projects, back to the drudgery of my 9 to 5. I'm determined to not let that happen again, so I apologize if my over-conservative approach offends you. We aren't all making 10k a PPC campaign right now.

I talked to you over Skype before, Eliquid, and I appreciated the advice you gave me then, but for that project I spoke to you about I need roughly $10k, and that's without even knowing if it will be successful. So I'm basically just trying to figure out ways to get that budget first. And I have no idea what you're trying to say on that last line above.

Thanks all for the input anyways.

 

[eliquid]

^^ the risk I talk about is the problem.

We all strike out. Im never said if you poured 10k in to a campaign it WILL be the one campaign you need to make you rich and successful.

I could pour 10k a day into a campaign EACH for 10 campaigns ( 100k total ) and only 1 will succeed.

What amount of $ you pour into a campaign doesn't matter, I could do the same for 10 campaigns each with just $500 each.

The fact is, you must keep trying. To the victor goes the spoils.

When you get scared and stop doing, is when you lose.. not how much you poured into it

 

[JagerManJensen]

Wow there are more one-liners in this thread than an evening of ice-cream and SNL.

If you want to turn your $2K into more without blindly blowing your load on the internet, then get one of these:

Take that thing and drive it to an upscale neighborhood that has big green lawns in front of every house. Then, tell them about how good lawn core aeration is for their grass, gold courses do it, etc, and charge $100 to go over an average sized lawn.

If you run around 100 houses in a day you can make over $1000 in 6 hours of work.

I have done this with great success in the past when I needed money fast, since most home owners know what aeration is and why it is great for their grass. If you want more information on scripts to use when talking to fools after you knocked on their door, send me a PM and I can answer some questions.

If you choose to do it, good luck m8.

 

[IceToEskimos]

without even knowing if it will be successful

Contrary to populist belief, access to capital is not what sets successful entrepreneurs apart from the rest of the pack. In fact, it's not even good ideas that make the difference.

The main difference between the entrepreneur and everyone else is the level of risk he is able to tolerate.

Whether you are talking about the risk of losing a capital investment, or the risk of having your SEO'd properties slapped down for "blackhat" linkbuilding, unless you are willing to assume a certain degree of risk, you won't be able to get far in this life.

 

[magicink]

I've saved up $2,000 from working at my dead-end job, but there's no way in hell I'll pour it into a site without any idea of if I'll see that money again. I simply have no experience with a successful site and need to have much more before I can begin investing in web properties.

What are some good ways to turn that $2,000 into $3,000? Then $5,000? $10,000?

Car flipping? Sports gambling? Ideas? It has taken me a while to assemble this meager amount together and I will be damned if I squander it.

So you don't want to invest in web properties, but you'd be willing to try flipping cars or sports betting?

If you want to make money with no risk, stop looking for short cuts. The *only* way to make money for no risk is:

1. To trade time for dollars.
2. Cut existing expenses. You should be able to save up more than $2k, even from a dead end job.

If you're not willing to risk money, you'll have to risk your time. There's no way around that. Here's your blueprint for building your bankroll:

1. Cut back your expenses, save up more money.
2. Build up web properties from scratch. Use free tools/free trials for your research. Write all the content yourself. Find successful sites and emulate them.
3. Do all your backlinking manually. Actually build sites that provide value - find the best resources in your niche and make them even better. Use outreach to get links and guest posting opportunities. Its not easy and it takes a lot of trial and error, but it really does work.
4. Build some crappier properties (you might want to outsource this part), and use the money you saved from cutting back on expenses to test. Doesn't matter what you test, as long as you've done your research and you're trying to test a hypothesis rather than throwing shit blindly at the wall. Once you find something that works, try finding ways to improve on it/scale it up.

Not as sexy as flipping cars or sports betting, but it really does work.

 

[User9364]

The main difference between the entrepreneur and everyone else is the level of risk he is able to tolerate.

Agree, somewhat. However, it is not just risk tolerance. Bad gamblers have a high tolerance for risk, and lose a lot.

Accurate risk assessment is also something a successful entrepreneur has.

People with jobs often do not accurately assess their risk. They often feel they can't be fired at any moment. Meanwhile, they find my self employed proposition risky. Maybe part of it is a willingness to really bet on yourself.

So, tolerance for risk, yeah, but that soup will taste like shit without some other important ingredients.

 

[vaizbunas]

When you get scared and stop doing, is when you lose.. not how much you poured into it

:bowdown: This is from some book,can't remember but ...
Make a fucking note, stick it on your laptop/PC and live with it.

Ice was offering a service about on page seo giving a hint that people should check serps to know what should they be doing. From there you have a light bulb popping up already, if you dont I will try to light it up.

Make flippa your mother fucking bitch, follow sellers with records,check what websites they sell, what niche they go after, what ranks for them and how much money are they making. Take last site they have sold and dump into ahrefs and collect data. Analyze link profile and go to BST to check how much you need to invest to achieve these results. Do some fucking math,is it better to outsource or do it your self. Check BST for prices per backlink, once you have data, compare sites having amount of links with bst price per link,know your expenses. If buying quality stuff,you will need much less to achieve certain results. Talk to someone to be your mentor, work for them for free to help you achieve something you want. They get free labor,you get experience.

 

[JoseArmando]

Contrary to populist belief, access to capital is not what sets successful entrepreneurs apart from the rest of the pack. In fact, it's not even good ideas that make the difference.

The main difference between the entrepreneur and everyone else is the level of risk he is able to tolerate.

This is so true. Also, persistence.

 

[anriaf]

The more data you have, the better your chance to success.

Another good point; the data doesn't lie. Show it some love and get started today.

Sent from my Nexus 5 using Tapatalk

 

[cheshire]

I was actually thinking about this last night. When I started affiliate marketing I started with $1000. Now keep in mind this was like 2002 and things were way easier, but I digress. I was thinking last night, what would I do if I had to start over tomorrow with $1000 to my name....

I'm going to dump this plan out there and I'd like to see someone take it, grow it and become an internet baller, if only to see if my hypothesis was right. I'm also going to assume you have some skills and some tools at your disposal already. Even if you can't create an uber-awesome, slap-yer-momma, badass site you should be able to identify sites with value, no?

Here's the rub down:

1. I would identify 20 niches. Like micro niches stuff like skin care for dogs. (not really but you're feelin' me right bro?)

2. I would use my Google-fu to find old, established sites that aren't being actively maintained but rank somewhere for some weak long tail terms like 'best acne lotions for siberian huskies' Give preference to sites that aren't properly monetizing/haven't been updated recently.

3. I'd pay a Phillipino to email the site owners offering to buy the site for $xx-xxx dollars depending on the value. Or just do it myself to save some $$$.

4. I'd spruce it up by adding a $40 theme and maybe 5-10 magazine quality articles. Do a full CCarter branding on it.

5. Spend some minor bucks on some linking just to improve what the site already has.

6. Hock those bitches on Flippa, tavin style for 2X my investment minimum. If I'm lucky maybe one of them hits big and nets me $X,XXX. If not just be happy with a 2X profit.

7. If they don't sell, roll them back into my personal inventory and work on them when I have free time, monetizing with Adsense/Amazon.

8. Rinse and repeat until my bank account is as fat as my girlfriends ass.

 

[EricVonDoobie]

I was actually thinking about this last night. When I started affiliate marketing I started with $1000. Now keep in mind this was like 2002 and things were way easier, but I digress. I was thinking last night, what would I do if I had to start over tomorrow with $1000 to my name....

I'm going to dump this plan out there and I'd like to see someone take it, grow it and become an internet baller, if only to see if my hypothesis was right. I'm also going to assume you have some skills and some tools at your disposal already. Even if you can't create an uber-awesome, slap-yer-momma, badass site you should be able to identify sites with value, no?

Here's the rub down:

1. I would identify 20 niches. Like micro niches stuff like skin care for dogs. (not really but you're feelin' me right bro?)

2. I would use my Google-fu to find old, established sites that aren't being actively maintained but rank somewhere for some weak long tail terms like 'best acne lotions for siberian huskies' Give preference to sites that aren't properly monetizing/haven't been updated recently.

3. I'd pay a Phillipino to email the site owners offering to buy the site for $xx-xxx dollars depending on the value. Or just do it myself to save some $$$.

4. I'd spruce it up by adding a $40 theme and maybe 5-10 magazine quality articles. Do a full CCarter branding on it.

5. Spend some minor bucks on some linking just to improve what the site already has.

6. Hock those bitches on Flippa, tavin style for 2X my investment minimum. If I'm lucky maybe one of them hits big and nets me $X,XXX. If not just be happy with a 2X profit.

7. If they don't sell, roll them back into my personal inventory and work on them when I have free time, monetizing with Adsense/Amazon.

8. Rinse and repeat until my bank account is as fat as my girlfriends ass.

Did you start with $1000 on PPC or flipping sites, etc.? Wish I had been older in 2002 fml.

 

[jriddick]

UPDATE: Took the 2k and went the sports gambling route. Doubled it to 4k before losing it all.

In retrospect, my mistake was partially impatience and partially the fact that I had no other ideas for what to invest it in. Gambling is a terrible business model to begin with, but I think in hindsight when I build up my next bankroll, I'll probably just start building shitty sites, throw links at them, and hope one of them takes off.

 

[Future State]

UPDATE:my mistake was partially impatience and partially the fact that I had no other ideas for what to invest it in.

No. Your mistake was gambling.

Gambling is a terrible business model to begin with

Gambling is NOT a business model.

I'll probably just start building shitty sites, throw links at them

Or you could take your time, do some proper keyword research, find a term you KNOW you can rank that will bring back the money you spend on content and links (or write it yourself and do manual link building yourself).

and hope one of them takes off.

"Hope"... Make a calculated risk. Don't just throw shit at the wall and hope something sticks.

I think in hindsight when I build up my next bankroll,

You don't need a bankroll to do SEO. You can start with literally $1. I'm not exaggerating.

If you're waiting on money, you're never going to be successful. Money will never replace a hustle. You've already blown the start-up cash you had. You owe it to yourself to put in some ACTUAL WORK now.

And to pull your head out of your ass.

 

[CCarter]

UPDATE: Took the 2k and went the sports gambling route. Doubled it to 4k before losing it all.

Are you fucking serious? Isn't sport gambling betting YOUR money on OTHER people's performance? Wouldn't you have come out on top if you bet YOUR money on YOUR ability? At least if you lost, you would walk away with experience for the next round. You're trolling brah. No way, you can be that stupid. If you actually equate business to gambling you're not going to make it...​