Investing In A Project: A Way To Follow Through
A problem a lot of people have is they start a project but then let it trail off. They just get bored of it and abandon it or they run out of time to work on it (or some other reason forces them to let it go). The thing is, some of these projects may have showed a lot of promise and if these people had just stuck with them, they would have made quite a bit of money.
I want to share with you guys a way that you can make sure you follow through with a project (or at least drastically increase the motivation to do so). This way is simple yet you’d be surprised how effective it is.
What I’m talking about is investing into your projects from the get go to make sure you stick with it. Let’s be honest, a domain for a web project (any other small start up investment) is usually cheap, and won’t take that much out of many peoples pockets. If you just buy your domain for a project it’s easy to drop it, chalk it up as a loss and move on.
On the flip side, if you invest in site development, custom coding and a lot of other fancy stuff, it is a lot harder to move on from that project without feeling the burn of your money going to waste.
A perfect example can be found in affiliate marketing. If you just buy a domain name and throw up a simple landing page, it’s really easy to walk away from the niche and just say you won’t run it. But if you make the investment and buy the articles from a freelancer for that landing page (this helps increase your quality score), or put any other form of monetary investment into that page, your drive to actually get up and running in the niche will be greater.
The reason this happens is the addition of a risk factor. When there is nothing to loose, most people don’t care as much as they would if they were going to loose something. If you put more on the line, the motivation to work hard to get a return for your investment is greater.
If you put your self out there and risk something, I’d be your going to want to get that money back. So, before you start your next project, take some money and invest it into that project. Don’t give yourself an easy exit and stick with the project. Who knows, it could turn out to be a nice earner and you’ll have that little bit of extra initial investment to thank.
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Interesting article. Everything you wrote about could be put into one word, and that word is “Entrepreneur”. An entrepreneur is someone who is willing to invest all the money and take all the risk while staying motivated throughout the span of the business. If you’re whole point of building a site is to make money off of it, then be willing to make sacrifices, take risks and stay motivated. Also, don’t forget your startup capital! : )
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If you see value in a certain project its essential to back it up with marketing and promotional efforts to take it to the next level
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You make a great point, I’ve had projects in the past or ideas even, both online and off, that had little or no investment and showed very little promise in my eyes.
Had I made a bit more of an initial investment in them, I may have stuck around a bit longer to ensure that the absolute best was done prior to throwing in the towel.
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most people are just creating sites then will leave them be and see if they become successful. They are just depending on luck.
I hear ya man, it makes so much sense too! If you spend money on something , a nice amount…then you’ll naturally work harder to recoup that investment.
Solid advice Max
I spent $1000 right of the bat when I started my blog. I would definitely say that spending that much money has caused me to sometimes rethink my decision when I say that ” I have had enough.”
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Talk about timing, holy schmolly LOL
I recently consolidated 4 blogs into two in order to work smarter, not harder. Now I can start each of the many ideas in my head…..one at a time.
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You are soo DAMN right…
What i do is work my ass off for a given thing and when i have done all the hard work .. i get bored and just leave that stuff and move on to the next..
Currently i can think of around 5 different things which i have on going .. but none is fully complete .. and each one has a GREAT potential
Having had so many business ideas and not implementing them, I’ve been slowing but surely weeding out my portfolio of websites and domains. The ones that are at least paying for themselves, I have kept while the others I haven’t been re-registering.
I found my problem was that I had so much on my plate, that I had sites that were never getting launched - since weeding out some of those websites, I am finally getting more worked published and about to launch a bigger project that I’ve been planning out and working on for a couple of years.
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