Oh, I don’t have the kind of money to spend on that training course. Oh, I don’t have the kind of money to pay for that premium software package or to invest in that search engine optimization tool. It’s a very common misconception among people outside of the Internet marketing sphere that you need to have a lot of money in order to even get started with making money online. That’s just not the case.
In fact, it may be a much more valuable lesson when your have a tighter budget to begin with, because it forces you into a certain kind of mindset. You are constantly looking for the best return on investment, because you want to make sure you are spending your money wisely. You want to maximize your profits and this requires discipline. This requires a particular kind of approach.
You may have heard countless stories about people who have won millions of dollars through the lottery, only to find themselves nearly penniless just a few years later. They quit their jobs, buy giant massive mansions and go on extravagant trips, throwing the cash around as if it were nothing. And then, it really is nothing, because they have nothing left.
The truth of the matter is that if you are bad with $10 in your pocket, you’re going to be that much worse with $10 million in your bank account. People who are poor at managing smaller amounts of money are going to be poor at managing larger amounts of money. Thankfully, the reverse is also true. The person who is smart with a more humble bank balance is going to be even smarter with a more impressive bank balance.
And you can easily extend the same line of thought when it comes to making money online and the dot com lifestyle. When you only have so much in your budget, you want to make sure you get the absolute essentials before you consider going after the “nice-to-have” items. And if you are able to turn a healthy profit on a $100 website, then sure enough you have the skills, experience and mindset to turn an even bigger profit on a $10,000 website… or tens of $10,000 websites, for that matter.
This is because the fundamental principles at play when you are building, growing and monetizing a more humble web property can apply equally when you scale up into something bigger and more ambitious. You still need the right domain, the right hosting, and the right tools in your arsenal.
The offline world is much like the online world in this way — that’s why millionaires who declare bankruptcy oftentimes find themselves as millionaires again not long afterward — except the online world moves a lot more quickly.
When you develop the discipline needed to manage a smaller budget and to maximize the profits you can earn from that smaller budget, you start to develop the ability to scale those skills up to bigger budgets and bigger profits. You learn that you can’t just throw money at the problem and hope for it to fix itself.
It costs money to make money, sure. You just want to spend it in the right place, freeing up your time to focus on what you really want to do and are good at doing.