Home
Forums
New posts
What's new
New posts
Latest activity
Log in
Register
What's new
New posts
Menu
Log in
Register
Install the app
Install
Home
Forums
Living
Money
The realities of earning $10,000 + a month online or in business in general
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="HustleNomad" data-source="post: 1206605" data-attributes="member: 10980"><p>Having done this myself after seeing friends do this successfully (but not speaking for GT as he may have a different approach):</p><p></p><p>The general approach is to make as much bank as possible in the affiliate space (a fair bit blackhat/cloaked especially to get working capital in the beginning if you start with nothing), and then pivot into product ownership once you're past the "oh shit I need money" part or get bored. </p><p></p><p>It's very possible to do high 6 -> 7 fig years as an affiliate, which covers your ass for years provided you keep your spending from going out of control. When campaigns are cranking and you're pulling 10k days it's hard to not go and blow a bunch of it :angel:</p><p></p><p>Assuming you survive the baller blowout, have kept up with paying your taxes, and haven't gotten stiffed for 6 figures by any advertisers, at that stage you have a 6/7 figure buffer and can live for at least a few years (hopefully more), even if you made 0 money in the meantime.</p><p></p><p>So, after 2-4 years in the affiliate space you have </p><p>1) significant resources to throw at new ventures - your own product(s), </p><p>2) enough knowledge of marketing and paid traffic that if you plan and test correctly your chances of success are <strong>very</strong> high - in fact you should be running tests before even building a product so that you never build anything that is not viable</p><p>3) true business experience negotiating with shady affiliate networks and advertisers (absolutely priceless, you learn how things REALLY work)</p><p></p><p>The problem with starting from scratch with your own product is this. You can have the best traffic in the world, but if the offer is not structured correctly <strong>it does not matter</strong>. Just because you build it does not mean they will come, and that cannot be emphasised enough - one of my first rookie errors way back when I started.</p><p></p><p>I've seen several examples of people who are "experts" in their niche, from dating to fitness to health to weird shit, but get absolutely destroyed when putting their offer to the world because they lack an indepth understanding of how MARKETING works. </p><p></p><p>People don't realise it's a completely different skillset. It is just as important as your product itself! Most people have their product at a 95/100 but marketing skill at a 1/100, and it's a huge huge huge issue. In that situation I know a few guys that have successfully hired or partnered with an expert, but then they were already in a position where they had enough cash to get these experts interested in the first place.</p><p></p><p>In these days of extremely sophisticated online advertising technology, it should not take you years to get traction. Build out a properly structured funnel for your pre-tested offer, and if you are tracking the correct metrics you know within weeks/a month or two. </p><p></p><p>To contextualise: if I have an MVP that doesn't show life (i.e break even or profit on the front end at $500+/day spend) within 3-4 weeks, after maxing out my marketing abilities and running my process by a few close friends, I'm done - it's time for new product. But the real time saver here is that I don't build out the full product until I know I can sell it, so really most of the time I invested was in the sales process (ads/angles, optin pages, advertorials, webinar script etc + skeleton layout of product)</p></blockquote><p></p>
[QUOTE="HustleNomad, post: 1206605, member: 10980"] Having done this myself after seeing friends do this successfully (but not speaking for GT as he may have a different approach): The general approach is to make as much bank as possible in the affiliate space (a fair bit blackhat/cloaked especially to get working capital in the beginning if you start with nothing), and then pivot into product ownership once you're past the "oh shit I need money" part or get bored. It's very possible to do high 6 -> 7 fig years as an affiliate, which covers your ass for years provided you keep your spending from going out of control. When campaigns are cranking and you're pulling 10k days it's hard to not go and blow a bunch of it :angel: Assuming you survive the baller blowout, have kept up with paying your taxes, and haven't gotten stiffed for 6 figures by any advertisers, at that stage you have a 6/7 figure buffer and can live for at least a few years (hopefully more), even if you made 0 money in the meantime. So, after 2-4 years in the affiliate space you have 1) significant resources to throw at new ventures - your own product(s), 2) enough knowledge of marketing and paid traffic that if you plan and test correctly your chances of success are [b]very[/b] high - in fact you should be running tests before even building a product so that you never build anything that is not viable 3) true business experience negotiating with shady affiliate networks and advertisers (absolutely priceless, you learn how things REALLY work) The problem with starting from scratch with your own product is this. You can have the best traffic in the world, but if the offer is not structured correctly [b]it does not matter[/b]. Just because you build it does not mean they will come, and that cannot be emphasised enough - one of my first rookie errors way back when I started. I've seen several examples of people who are "experts" in their niche, from dating to fitness to health to weird shit, but get absolutely destroyed when putting their offer to the world because they lack an indepth understanding of how MARKETING works. People don't realise it's a completely different skillset. It is just as important as your product itself! Most people have their product at a 95/100 but marketing skill at a 1/100, and it's a huge huge huge issue. In that situation I know a few guys that have successfully hired or partnered with an expert, but then they were already in a position where they had enough cash to get these experts interested in the first place. In these days of extremely sophisticated online advertising technology, it should not take you years to get traction. Build out a properly structured funnel for your pre-tested offer, and if you are tracking the correct metrics you know within weeks/a month or two. To contextualise: if I have an MVP that doesn't show life (i.e break even or profit on the front end at $500+/day spend) within 3-4 weeks, after maxing out my marketing abilities and running my process by a few close friends, I'm done - it's time for new product. But the real time saver here is that I don't build out the full product until I know I can sell it, so really most of the time I invested was in the sales process (ads/angles, optin pages, advertorials, webinar script etc + skeleton layout of product) [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Living
Money
The realities of earning $10,000 + a month online or in business in general
Top
