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October 29th, 2012
8 min read
The question I want to ask today is, “Do you have to spend money before you make it?”
So, it’s a simple question and I think it’s one that we need to address because a lot of people spend a lot of time in a constant hunt for free things. And, even though people will recommend solutions that are good, they will usually not sign up for them because it costs money.
The idea here is that, if you’re not making any money – you don’t want to spend it. I can definitely understand the desire to do that but at the same time, it can really, really hamper your growth when it comes to your online business if you’re not willing to spend any money on it.
There’s not really a business out there – anywhere – that started making money without some form of initial investment. You have to keep that in mind. And don’t necessarily expect an internet business to operate by different rules. Again, as I’ve always said, a business on the internet is a business. It’s just a business – that’s all it is, it just happens to be online.
The entire idea here is that you’re going to make money with this and you’re growing an asset. Now, if you’re not looking at it from that perspective, it is just going to seem like you’re just spending money. But, realize that you’re creating an ASSET here. And the viewpoint should be completely different. You should be looking at it as an investment.
What Do You Really Need?
Now, let’s look at what you actually need to get going, here.
Obviously you’re going to need some form of web hosting and you’re going to have to pay for that. Generally, web hosting is not very expensive. If you’ve got a really busy website, well, you probably already have some form of business going on, anyway. So you can probably afford dedicated hosting. But if you’re first starting out, just get a simple shared hosting plan with Hostgator or Bluehost or somebody like that. They will completely serve your needs. Generally it’s going to cost $10 a month or less. And I think most of us here can probably afford that. You’re going to need hosting. And if there’s somebody out there that offers free hosting… RUN!!! You don’t want to start a business on any kind of free hosting.
Now, the next thing you need is an email list. And this is definitely not something you want to skimp on.
Do not go on something like Feedburner to build up your list. First of all, we know that Feedburner might be disappearing at some point soon. Google seems to have a death wish for Feedburner so it’s just definitely not a secure place to put a list in the first place.
I highly recommend Aweber, as you guys know. Aweber is a really, really good email marketing company. They have a 30 day trial for free… or maybe it’s a dollar. After that it starts out at $19 a month and then it will go up from there depending on how many email subscribers you have.
The thing to keep in mind with Aweber is… yes, at the outset you will be spending more money than you’re probably making. However, you’ve probably heard this a million times from people who are making money online, but… your EMAIL LIST is THE most important asset that you have. It’s extremely important. So, if you leverage the list correctly, it would be easy to make back the money than you’re spending on Aweber. So, don’t worry about it. At the outset, yes, you’re going to be spending money on Aweber that you may not be making, but it’s an investment into later when you’re going to be making some money. Investment into Aweber is going to seem really small. You’re going to be very happy that you set up on the proper platform to begin with. It’s not fun moving email lists!
Now the other option here is, MailChimp. That’s definitely one that you can check out. I don’t like them as much as Aweber, but they are a good company. They do have a free level of account that can help you get started. So, that is one way where you can actually start setting up a proper email list and not spend any money on it right off the bat.
And then you’ve got the issue of plug-ins. Now in order to run a membership site you’re going to need a plug-in. In order to do various things out there, you’re going to need a plug-in. There’s a lot of free plug-ins out there but, generally, the ones that cost something are of higher quality and they’re more feature rich. They’re just better. So, again, you’re going to have to look at it on a case by case basis. Look at it as an investment. If you know that what you’re going to do with that plug-in is something that is going to help pay off later, then, yes… spend the money before you’re making it.
If it’s something that is just going to be for fun, that’s not going to add up much to your site and just kind of “cool” or something, then don’t buy it! Just wait. You don’t need to buy everything on the market!
What About Training Products?
Now, what about info products here? We’ve got the various solutions that you need to actually start up and run a business, but what about training products?
Well, the big thing here is make sure that you definitely DON’T fall for any shiny object. Marketers are good at making it seem like you need what they’re selling. And in many cases you don’t.
It really comes down to the fact that you need to be your own compass. It’s not that their product is good or bad; in most cases the product is probably fine. The big thing is you need to be your own compass. Know where you’re heading. And know if that product is going to address it to help you get to your goal faster. But if you are looking for something that will give you the goal in the first place or basically hand something to you on a golden platter, you’re going to be very sorry and disappointed here and you’re going to waste a lot of money.
So the big thing here with info products is – just don’t go out there willy-nilly and buy a bunch of info products. You want to be very strategic in the ones that you buy and that way you don’t waste money on it.
Now, can you find what you need for free? Possibly. However you’re going to probably find that going with a paid info product that’s strategically going to help you get to the exact thing that your INNER COMPASS says that you want to go do… it’s going to save you a lot of time; it’s going to save you a lot of needless leg work. So I think it generally is worth it. Look at it as an investment.
Now is some particular info product going to help you get there? I don’t really know. You have to be that judge. But the general thing that I want to say here…
You want to know how to get something but you don’t want a product to tell you what you need to do, in my opinion. I think you should have an INNER COMPASS as to which direction you want ahead.
Don’t come in there and say, “Hey… I just want to make money, please show me how to do it.” When you come in with that kind of an attitude, you’re setting yourself up for failure.
Avoid Going Into Debt For Any Of This
And lastly, I want to wrap up by saying, do not go into debt on any of this stuff. I have heard horror stories of people who had charged up expensive info products onto their credit card. JUST DON’T DO THAT! You’re coming at this from a completely wrong angle when you use your credit card.
Now, does that mean I’m saying don’t ever use your credit card? Obviously not. Because, when you’re on the internet, that’s pretty much the de facto way of buying things.
But if you’re not making enough money to pay for it and if you’re using that credit card as a buffer to buy something that you really can’t afford right now, I wouldn’t buy in that case. Because the thing is, if you’re trying to come in and form an internet business and you’re doing it with debt right off the get-go, you’re setting yourself off for a big problem.
Again, JUST DON’T DO THAT! Make sure that you only buy things you can afford. And when it comes to the things that you actually need to get off the ground, those things are usually pretty cheap, anyway.
Now, when it comes to the info products, sometimes it can be a lot more expensive. It really comes down to what you’re looking at and, again, you’ve got to be guided by your INNER COMPASS and, of course, your budget. If it’s going to take you multiple months to pay off the balance you just put on that credit card for some info product, do not buy it. It’s just not worth it.
So, hopefully that gives you my viewpoint on the whole idea of “do you need to spend money before you make it?”
I love to hear your point of view. Please post in your comments below and thank you very much!