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  1. #26
    Follow Me On Twitter: @djg gold trophysilver trophybronze trophy Dan Grossman's Avatar
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    Quote Originally Posted by roosevelt View Post
    There's a saying only money can make money. This means, if you are thinking of making $100K a year, then you actually have to invest probably half of that to setup a successful income.
    One of my sites which brings in over $100k a year was started with a $1.95 domain and $11 TemplateMonster design. It made its first 50 sales from forums and other free advertising before I spent any money on it. If you're able to do all the work yourself, then your only startup cost is time, and to grow you just put profit back into the company.

  2. #27
    Life is short. Be happy today! silver trophybronze trophy Sagewing's Avatar
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    You can start from nothing! I had literally zero investment in my company, in fact I was in debt when I started it. Now I'm very financially comfortable and giving advice to others. Think fundamentals, and do something you're great at and you can succeed.
    The fewer our wants, the nearer we resemble the gods. Socrates

    SAGEWING LLC - QUALITY WEB AND MOBILE APPS. PREMIUM OUTSOURCING SERVICES.
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  3. #28
    SitePoint Wizard
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    Quote Originally Posted by ramone_johnny View Post
    Are there any entrepreneur's here making a decent income from online business or ecommerce?
    Absolutely. What you need to do is not only build the website (or websites) but know how to market them as well.
    For HTML Help visit: HTML Help Central
    For Graphic Design help visit: GFXVoid.com
    If you're a GEEK then go where geeks go....

  4. #29
    SEO/SEM Unkn0wnPlayer's Avatar
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    Quote Originally Posted by roosevelt View Post
    There's a saying only money can make money. This means, if you are thinking of making $100K a year, then you actually have to invest probably half of that to setup a successful income.
    I see the thought process behind this but I don't think that it rings true on the internet. We don't necessarily have to deal with all of the overhead that traditional brick and mortar businesses do.

    Like Dan said, if you're able to do most of the work yourself - you can generally shoe string it.

  5. #30
    Theoretical Physics Student bronze trophy Jake Arkinstall's Avatar
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    Hey guys.

    I am looking into making big money on the internet, but I'm not sure how to go about it. I always set myself projects which I can later sell, but I never actually get round to doing it.

    My latest idea is actually not something to sell, but a way of making web development much quicker, therefore make the money in a day rather than a couple of months. The idea is actually quite simple; I make a series of functions which run the entire back-end of a site. This includes a cart, members area, product display, admin tools, and whatever. I am developing this inline with a client's website, so every step I add to the site, I add a more flexible version in a function. Then, I create the design, and wherever in the HTML I want to put a login area, for example, I just call the function in PHP. simple.

    So has anyone else done something similar, and does it work?

    What other ways to people make money with a web-business? I am full of ideas for services (such as a universal profile, which websites just ask people for their universal-profile login details, and they are logged in. no need for registration . Another idea was an online email client (people can give username, password and server), but I gave that idea away helping someone with a coding contest), but im not sure if implementing them would get money, so I generally don't bother. E-Commerce is a big risk unless you have a good plan, and I can't really think of anything to sell...

    Thanks for your input,

    Jake Arkinstall
    Jake Arkinstall
    "Sometimes you don't need to reinvent the wheel;
    Sometimes its enough to make that wheel more rounded"-Molona

  6. #31
    Life is short. Be happy today! silver trophybronze trophy Sagewing's Avatar
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    Those are big ideas.. big, big ideas.. They might be great ideas, but if you are thinking on that scale you'll be competing with lots and lots of people and some of them have advantages like deep pockets, marketing channels, or experience.

    If you can think of something that is more specific, reachable, and feasible you might do better. Not to say that you can't have big ideas, but if you find yourself constantly on step 1 of your big ideas, you have to wonder why. Think of something you really enjoy doing, make it realistic, and follow through.
    The fewer our wants, the nearer we resemble the gods. Socrates

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  7. #32
    Theoretical Physics Student bronze trophy Jake Arkinstall's Avatar
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    So would you recommend creating these big ideas then selling them to a higher company? or selling it straight to the users?

    Not trying to HiJack this thread btw, I think I find myself in a similar situation...
    Jake Arkinstall
    "Sometimes you don't need to reinvent the wheel;
    Sometimes its enough to make that wheel more rounded"-Molona

  8. #33
    SitePoint Evangelist
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    Quote Originally Posted by arkinstall View Post
    I am looking into making big money on the internet, but I'm not sure how to go about it. I always set myself projects which I can later sell, but I never actually get round to doing it.
    That's execution and in business the ability to execute is what divides success from failure. You'll be surprise how unimportant a good business idea is compared to execution.

    Train yourself on execution. A well executed average plan is way better than average execution of an excellent plan.

    Quote Originally Posted by arkinstall View Post
    So has anyone else done something similar, and does it work?
    Oh yes, that's been done many times. It's called frameworks and RAD tools. If you want to make another one, you really should study what's out the already and see if you can make it better.

    However if you want to make big money you should not worry so much on the tech side of things, but more on the business and marketing side. That's where the money is.

    Of course if your abilities are not compatible with business and marketing, it's better to stick with technology. But then make sure you'll be the best tech guy out there. Because if you're the best tech guy out there the business people will come after you.

    Stick to your strengths. Don't try to be everything and do everything yourself. GL!
    George Skee
    Follow me at GeorgeSkee.com

  9. #34
    Life is short. Be happy today! silver trophybronze trophy Sagewing's Avatar
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    Quote Originally Posted by arkinstall View Post
    So would you recommend creating these big ideas then selling them to a higher company? or selling it straight to the users?

    Not trying to HiJack this thread btw, I think I find myself in a similar situation...
    Ideas usually aren't worth much unless they are absolutely new and amazing. A great idea that hasn't been implemented has much less value than an ok idea that's been implemented already. If you think your ideas are good enough to sell, give it a shot, but the trick is finding someone who not only likes the idea, but is willing to pay you for the chance to execute it.

    Probably better to do something on your own unless your ideas truly groundbreaking. For every 'incredible idea' that someone shares with me but never gets off the ground I see a bunch of 'good' ideas that become successful and fruitful.
    The fewer our wants, the nearer we resemble the gods. Socrates

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  10. #35
    SitePoint Evangelist ramone_johnny's Avatar
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    Wow, again theres some awesome advice in here. Thank you all for contributing. I think from here I need to start attending seminars and speaches and actually *networking* with successful web orientated people.

    Now, where to find these *seminars*!

    John

  11. #36
    SitePoint Evangelist Scott.Botkins's Avatar
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    I started my own web design business at the end of 2005 and I didn't invest a single dime in it, I've only invested maybe $30 total since then into advertising. I do this as my full time job and live on my own, I've never gone into debt either! I won't share how much I make but the best part about all of this is the experience, fun and you meet a lot of great people along the way, that's worth more to me than money. Use your time wisely though, that's your most valuable asset.

  12. #37
    Life is short. Be happy today! silver trophybronze trophy Sagewing's Avatar
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    For sure, time is worth more than money! Well said.
    The fewer our wants, the nearer we resemble the gods. Socrates

    SAGEWING LLC - QUALITY WEB AND MOBILE APPS. PREMIUM OUTSOURCING SERVICES.
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  13. #38
    SitePoint Member FLExec's Avatar
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    Very good information and advice. I will be sticking around this forum for a long time

  14. #39
    Designer
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    If there is one thing I've learned (and it seems to be echoed somewhat in this thread), is that you can make quite a lot on your own as an IT pro, but there is a limit to that, because after all, you ARE just one person. If you really want to break through your "barrier", you need to expand and diversify.

  15. #40
    SitePoint Zealot
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    This question was asked on the joelonsoftware.com forums. Seems that a few posters there are claiming around $300K/year. I don't really know, but I believe them.

    The joel sites tends more towards micro-isv business, as opposed to web design. But, I think the two ideas could be, sort of, merged in a SaaS (software as a serveric) business.

  16. #41
    SitePoint Evangelist ramone_johnny's Avatar
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    $300K??? Id be happy just to make $30,000 a year for starters! Sheesh!

    John

  17. #42
    Life is short. Be happy today! silver trophybronze trophy Sagewing's Avatar
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    The mainstream software business is much, much more lucrative then the web world. I work in both and certainly you can do better in software than in web.
    The fewer our wants, the nearer we resemble the gods. Socrates

    SAGEWING LLC - QUALITY WEB AND MOBILE APPS. PREMIUM OUTSOURCING SERVICES.
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  18. #43
    SitePoint Evangelist ramone_johnny's Avatar
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    I guess whats frustrating most of all is not knowing what you could potentially be doing *wrong* in your efforts. In hindsight, especially now Im really starting to become aware of what mistakes to avoid, what I should be doing and how to constantly improve. Having a mentor accellorates this process dramatically. (Any volunteers? )

    The internet, its a beautiful thing!

    John

  19. #44
    SitePoint Member FLExec's Avatar
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    No matter what, you need to be able to have the business mentality. You must be organized and cost effective, and in most cases devote a lot of your time trying to reach your goal.

  20. #45
    Follow Me On Twitter: @djg gold trophysilver trophybronze trophy Dan Grossman's Avatar
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    My goal is minimizing the amount of time spent working for enough income to live comfortably. Devoting lots of time would defeat the purpose for me. I currently do what I do with about 4 productive hours per week. I plan to increase that a little bit in the fall when I resume creating new services to sell, but those services, like all the others I sell, will be as automated as possible and require little to no maintenance or customer service after the creation and testing period.

  21. #46
    SitePoint Evangelist ramone_johnny's Avatar
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    ...services aye? *grabs notepad and pen

  22. #47
    SitePoint Evangelist Karpie's Avatar
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    Well, as someone who's just started a career in web development, this thread certainly is an eye-opener!

    (Would love to work for myself and work from home, but I figured it was good to get a start in an online marketing company while I'm young.)

  23. #48
    SitePoint Addict irkyo's Avatar
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    I think you got a lot of useful information from all the comments above. The most important thing is to start doing smth!! it' s good to plan and write business plans but you should move in order to live, the same is about online business you should start doing smth in oder to reach your aim! I agree about putting up money. Nothing comes from nowhere. It's for certain. You should give smth in order to get smth. I think you have all the necessary conditions for starting your successful business and getting money. Just try!)) I wish you good luck ))

  24. #49
    SitePoint Evangelist ramone_johnny's Avatar
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    eh? smth?

  25. #50
    I Love Licorice silver trophybronze trophy Datura's Avatar
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    smth = something
    Ulrike
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