Re-Invest Your Online Earnings.
Vic said it good in one of his recent videos on re-investing your online earnings, in his Make Money Online blog where he mentioned that Money Will Follow Money or something to that effect. He said that if we have the money to invest in scripts, software and products that enable us to make money, we will an easier time to make more money. Money begets money, and money follows money, and thus the truth about why the rich gets richer. They have the funds to re-invest. Taking this advise into account, I try to make it a point to put aside a small part of by online earnings as a re-investment fund.
Admittedly, I am not making a hell lot of money at present and a big part of it has to go into paying off my mortgage and other commitments, forcing myself to save part of it is not an easy task. The urge to withdraw everything to make life easier is so great and tempting and sometimes I regret buying the software I buy online as I could have put the money into better use. It’s only a couple of weeks after that I will feel better when I keep telling myself to look at it as an investment and not extravagance.
The first “big” purchase which sparked off all my later purchases was getting the BANs software as advocated by Vic. It proved to be a sort of turning point for me and it has provided me with quite a steady income ever since. The last two weeks I spent more than 200 bucks on scripts that I felt would be helpful. I went and bought SEO Elite as it comes as a highly recommended tool if I were to be a serious SEO practitioner. This was another big buy, for me at least, as it cost 167 dollars. I regretted for 3 whole days over that purchase, but when I saw the potential of what this piece of software could do for me, I felt a lot better.
Then there were smaller buys that I don’t blink an eye over. I bought the 7 dollar secret, which I have yet to install and put to work because I am still waiting for the transfer of the closeout domain that I bought especially for this script. I also liked Auction Acrobat which allows me to sell CDs the easy way on eBay so I bought that too. This “buying spree” left me almost broke and I have no idea if it will work for me, though they all seemed very promising. That’s the gamble every businessman has to take I suppose and I have convinced myself not to fret too much over the investment. If it works, it works, it it doesn’t, well, there will be others. If I had not bought it at all, I will never know. Putting it in Vic’s favorite phrase, “It is what it is, and that ’s the way it is” To be able to get more opportunities online, we have to re-invest our online earnings. There is no such thing as a free lunch in this world.
(Submitted as an entry in Problogger’s Group Writing Project)
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Such knowledge is what made many men rich. You learn stuff like this when you become mature.
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Costa Reply:
August 29th, 2008 at 8:16 pm
Hi Dan,
And I have to add, we will never mature if we don’t dare to take risks and we fear of losing and failing too much. If we are to be so fortunate to not have experienced failure in our lives, we will always be living in a fantasy. LOL.
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Hi Costa,
I had similar thoughts as you but I haven’t re-invest my earnings yet. I was about to when (1) I realize phpbaypro had gone up in price (damn, should have bought it at cheaper price when I could) (2) the whole epn expiring debacle.
So till now, I am still considering.
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Costa Reply:
August 29th, 2008 at 8:19 pm
LOL. Yup, being overly cautious can sometimes be a bad thing. We miss out on lots of good opportunities in life if we consider too many things before action is taken.
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I hope you know that you should be buying all Clickbank products through your own links and get 50% off. That is why it is so hard to make money selling ClickBank stuff….everybody just buys by clicking through their own links.
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Costa Reply:
October 3rd, 2008 at 10:18 am
Nuker,
So you are doing it too! LOL.
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