New Kid on the Block

[ulot79]

Hello guys
My name is Tolu, I'm married with two cute daughters. I heard about this forum on a pod-cast and i thought i check it out; really seems like a great place because i found a whole bunch on links to information i had been looking for; I count myself as a newbie to this virtual real estate business ie the buying and selling of on-line assets; and I'm very determined to succeed as the concept appeals to me than most other on-line business.

I plan to do this part-time though; I am commercial/Financial analyst by profession; i specialize in building financial/economic models to evaluate assets or businesses; I therefore have a high regard for anything that has capacity to generate tangible positive future cash flows. That is exactly what I am learning to do now i.e creating a profitable and sustainable on-line business real estate business.

I will soon be through with the required coaching and will be launching my first website asset on-line in less than two weeks from now; The website should reach its full potential by the 3rd month; My target for a start is to build my own winning team on-line and create mini websites that can generate between $100-$200 per month; I plan to build and average of 3 websites per month for the first 6 months. The website divesting strategy will be to sell of the least profitable websites assets and invest the money in the more profitable assets to build a stronger asset base.

I'm joining this forum learn from part of the experience of others and also to share part of my lessons learned which might be of benefit to others.

Finally, I believe this journey is a turning point in my life on-line, and joining this forum is a plus to that turn, and i plan to look back and be thankful for the day i subscribed to this forum because though i would have gotten much from this forum i would have given much more.
Nice to meet you everyone
-Chers
-Tolulope

[benitez17]

Welcome to the site!

You have a very ambitious plan. Is that plan created as part of your coaching, or something you expect to handle yourself?

[Clinton]

Welcome, ulot79, what's this coaching program you're signed up for?

My target for a start is to build my own winning team on-line and create mini websites that can generate between $100-$200 per month; I plan to build and average of 3 websites per month for the first 6 months.

There are several MMO products promoting this idea of creating mini-sites and, from the way you speak, it appears one of those programs has been the source of your information so far.

[Kay]

Hi Tolu, and welcome.

I'm curious to hear more about this coaching you're receiving. Are you enrolled on a course, being mentored, have you signed up to a recipe for success, or maybe something quite different? You sound very definite about your plans and the time-lines to achieve them. Have you devised a new and incredible business plan? I have to say that your plans sound quite a lot like a typical MMO step-by-step blueprint or recipe. Perhaps you can explain a wee bit more to us (without giving away your secrets) how such a plan might work.

Good luck anyway, you've come to the right place to learn more about doing business online.

[akirk]

Welcome,

the concept is good - diverse asset set / ruthless disposal of the low-performing / etc.
however - you may find that the amount of work required to get each to where you would like it to be / the amount of work needed to maintain that position is challenging...

have fun

Alasdair

[rob]

I will soon be through with the required coaching and will be launching my first website asset on-line in less than two weeks from now; The website should reach its full potential by the 3rd month; My target for a start is to build my own winning team on-line and create mini websites that can generate between $100-$200 per month; I plan to build and average of 3 websites per month for the first 6 months. The website divesting strategy will be to sell of the least profitable websites assets and invest the money in the more profitable assets to build a stronger asset base.

This paragraph scares me.

How much are you paying for the coaching?

[TheodoreK]

Hello Tolulope (awesome name by the way) and welcome to EP!

I too am genuinely interested to know more details about the coaching you are about to finish.


One question from me to add to everything asked above:

Is this coaching required to launch and/or maintain these mini-websites? If yes, how exactly?

[ulot79]

Well guys thanks for the welcome message; well the questions all seem like the same, but you guys shouldn't forget, that i'm still a newbie, i dont have a success story yet so i'm not yet justified to share much; i'v had a long history of failure and frustration on-line especially from buying information of what doesn't work. I discovered i was buying into someone else's asset at the exploration stage instead of at a producing stage.


In the investment world, it is safer to buy into a producing asset than an asset that is just in the exploratory stage with only probable chances of success. thats why i sought for a producing asset of knowledge by looking for a someone already with a success story and was willing to allow other people to buy into that.. there are many of such people online and i'm sure uncountable on this forum including some of you guys.


In short i decided to stop looking for info products and start looking for mentors. Mentors are giants, and if you stand on their shoulder you can see farther than from even the books they write. Their products may inform you but a genuine encounter with them will transform you. A mentor will guide you from probabilities to possibilities.


but i may not able to share much now because i promised my self i will never recommend to anyone anything that i havent proven that works, because i believe that's why i've failed on-line all the while, by people recommending what they haven't really proven so i wouldn't want to do the same; What i've shared is only what i plan to do based on the knowledge i've acquired, not what i've proven..i may be wrong but i believe i have a good chance of success because i'v reduced the risk by getting better guidance. But thats the business model basically i've shared.


I'm not sure i know what MMO stands for.. but you may be right it might actually be a derivative of such but generally.. i dont buy info products anymore...I only seek for genuine guidance.


Akirk you made comments alluding to taking a long time to rank high and to maintain high rankings; i dont plan to be competing in the highly competitive niches, you wouldn't advise me to do that as a newbie. i plan to choose only battles i can win, and if i'm finding it hard to win a market-share battle, then its definitely a wrong battle and i must have chosen a wrong niche and that may definitely be a failed project. So for my type of business model the conceptualisation stage of choosing the right niche is critically the important stage of success because if you choose a wrong niche, the project as failed already and it will be difficult to remedy that. One of the characteristics of a wrong niche amongst other things is a niche with competition you cannot overcome within your available resources of time or money.


I cant speak with authority now because i have not established a success story, I pray i'm able to do that with a reasonable time frame and hopefully with the help of some of you guys, afterwards i will be able to share only proven theories.

[akirk]

Akirk you made comments alluding to taking a long time to rank high and to maintain high rankings; i dont plan to be competing in the highly competitive niches, you wouldn't advise me to do that as a newbie. i plan to choose only battles i can win, and if i'm finding it hard to win a market-share battle, then its definitely a wrong battle and i must have chosen a wrong niche and that may definitely be a failed project. So for my type of business model the conceptualisation stage of choosing the right niche is critically the important stage of success because if you choose a wrong niche, the project as failed already and it will be difficult to remedy that. One of the characteristics of a wrong niche amongst other things is a niche with competition you cannot overcome within your available resources of time or money.

No

income levels - not ranking...
I was refering to your plan for websites bringing in $100 - $200 per month.
I suspect that the work needed to get to that point will be more than you expect
and it will take more input to keep the cash rolling in than you suspect

If it was that easy that you could build a website every 10 days then everyone would be doing it...

A lot of people somehow believe that making money online is an easy alternative to making it in the real world: get out of bed at 10am - blog a couple of times before lunch - cash all the cheques once a week and spend the rest of the time sitting by the pool unfortunately - a business needs work whether on or off line... there are distinct advantages to online (e.g. scalability), and distinct disadvantages (e.g. being found - stick a shop in a town centre and someone will see you tomorrow - stick up a website and no-one will).

The concept of what you are planning makes sense - just not sure that you have grasped yet the work load - it would be easy to get a website to bring in $100 - $200 a month - you just need to see how much time is required... if it is 40 hours a week the business model is useless - if it is a few minutes a week, it is great - until you start you won't know fully - just anticipate that it will be more time input then you suspect

Alasdair

[Kay]

Hi again.

If our questions all seem similar perhaps that gives you a hint that we're thinking along the same lines of asking the most basic and fundamental questions about any MMO system.

Have you read my guide for forum newbies?
http://experienced-people.net/forums...de-For-Newbies

MMO is what this forum is about - making money online. We have a diverse group of people on here who do earn a living online, often by very different means. There are at least 101 ways to make money online. Have a look at the parent site for this forum:
http://experienced-people.co.uk/

People who have a real success story usually don't try to sell you a "proven system". I doubt if there's any established member on here who makes money by telling people how to make money. Those who can do it, just do it. And sometimes some of them are kind enough to give us some free help and guidance on this forum - but only when we've started on our own path.

There's no need to be defensive or try to justify your approach. Every single person was a newbie at one time. But honestly your OP absolutely signalled "MMO recipe". IMO the idea of buying into someone else's success story is highly unlikely to work. It might work if you have a time machine and go back a decade to do something along the lines of what some of us started all those years ago. It's a whole new ball game now. You have to move with the times and come up with your own new ideas. How can it be of any use to you to know what Joe did all those years ago? Sure, it worked for him. But it's unlikely to work for someone else now. And anyway, you're competing with the thousands of others who have bought into Joe's proven recipe for success.

Mentoring is a good idea. But choose your mentor carefully. Ask why you perceive them as being successful. Do they really know what they're talking about or are they stuck in the rut of what worked for them x years ago.

The best mentoring I've ever found is to ask a considered question on this forum. By "considered" I mean something where it looks as though you've done some research and tried to help yourself. No one likes spoon-feeding people. If you ask the right questions, you can often receive advice from industry leaders on here.

You've already mastered step 1 - stop buying information that doesn't work. Those people make their money by telling people how to make money. Then they try to clone you into being like them so you too (even though you're a newbie) can make money by telling people how to make money. That's not a real and sustainable business. That's just selling snake oil because you've invested a lot in learning how to sell snake oil to unsuspecting newbies.

If you want to learn about how to make a living online, then you've come to the right place. If you want to learn more about being a successful snake oil salesman, then you're in for a rough ride on here, because no one respects that kind of stuff.

Why not have a good look around at some of the discussions on here? Get a feel for how the members go about things. Then start with a plan of action and do something about it. Ask if you need some help or advice. But remember, nothing ever gets handed to you on a plate. Any one of us here could sell you a step-by-step approach about how to make money, but no one will do that. Why not? Because if our proven system works so well we don't want to tell the world about it. But the combined experience on here can give you a lot of pointers in the right direction once you're going down your own path.

Hope this helps, and feel free to come back and disagree if you think I've got it wrong.