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Still Making Progress Toward Business

June 21st, 2007 at 07:15 am

I haven't posted in a while so I thought I'd give an update.

I'm averaging $3,000-$5,000 per month on the side, which isn't yet enough to go full time -- so I'm still working my day job.

I've invested a lot of the money I've been making back into the business, but I've been wasting a lot of it too. I really need to learn better cashflow. Making more money doesn't help when I spend it as fast as I make it.

I launched a different product two days ago and made a little over $1,000. This was for a membership site, so most of the money will keep coming in each month until people cancel.

This whole Internet marketing thing can get very distracting. Not only distracting me often from what is important in life (NOT money), but also distracting in and of itself.... there are so many ways to make money online that it can be tempting to try a little of everything. But real progress is made in sticking to one thing and following through. I'm still learning that.

My goal had been to quit my job by May 1, but obviously I missed that goal. I keep thinking the next thing is going to take my income up enough to quit my job, but it hasn't happened yet. I'd like to be making at least 10K per month before I quit my day job.

I'll keep you posted.

7 Responses to “Still Making Progress Toward Business”

  1. pretty cheap jewelry Says:

    Think how hard for us amateurs learning the ropes with no training whatsoever. I must be a kindergartener in your eyes. My 1-y-o internet business is a fun hobby, time sink and breaks even.

    Free advice most welcome (send me a private e mail!)

  2. outofdebt Says:

    pretty cheap,

    I am hardly too advanced. My hourly rate is nothing to brag about for how much time I'm putting into my side business right now... 20-30 hours per week.

    I also paid about $3,000 a few months ago to build my mailing list up, and about $10,000 to a programmer over 2 months to build my product up.

    If I had it to do over again, I wouldn't have chosen a software product, not only is it costly to develop, but it also has a lot of customer support costs.

    For me, it has been about how much risk I've been willing to take. I'm sure there are smarter ways to do it, but I've had to risk a lot of money to get where I am now. Not something advisable for someone trying to get out of debt!

    There are cheaper ways to do it. I'd recommend a free report by Sean Mize about article marketing:

    http://www.chriscrompton.com/recommends/mize.php

  3. Robin P Says:

    Hi I think you are on the right track. I have also been struggling with debt. I recently found a great program called Got Guts? This has really made a difference in my life. Check it out at www.got-guts.com

    These way of making money is like many other false promises; they may be the perfect solution for some people and a financial curse for others. It all comes down to your reasons for being in debt, your current income, the stability of that income, and your financial discipline. Itís that single key to the puzzle. If you have relatively poor financial discipline, until you change the way you spend your money is almost certain a recipe for disaster.

    Got Guts is the first real solution that I have found that is going to change the way my family thinks.


  4. Rachael Says:

    Any updates on the job situation? Hopefully things are going well for you!

  5. David Says:

    This is a great read. I appreciate your sharing your journey with us. Instructional and motivational. Thank you.
    David
    http://www.moveathink.info/getoutofdebt

  6. Nathan Says:

    Hey, great site you have here! I love the content and will likely include links to your page on my webpage! Thanks for all the advice!

    www.escapethedepression.com

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