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Different Ways to Make Money Online and Be Successful

Marc_vitaldollar
Marc has been a self-employed internet marketer since 2008. During the past 10 years, he's built several successful businesses including web design, photography, and Amazon FBA. Currently, he runs Vital Dollar, where he shares finance and money-making tips for his audience.

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Key Takeaways

  1. Use your story to stand out in a competitive market.
  2. You don't need to risk it all when starting a business--plan ahead to minimize your risk.

Podcast Interview Notes:

1. How did you transition from one business to another?

My first business was web design and that led me to start blogging.

I started a web design blog when I was still as an auditor. The blog grew pretty quickly and I enjoyed working on my blog more than doing the design work for the clients. After a year and a half, I was able to quit my full-time job and pursue my business full time.

I’d left my job in 2008 and four years later I’d started a photography blog. After a year later I sold my web design blog and focused on my photography blog full time. Around this time my wife and I started an Amazon business together. 

2. What's one major setback you've experienced throughout your career as an entrepreneur?

I haven’t had major setbacks.

Part of this has to do because I’ve taken things conservative and slow. I took, took my time growing my side-hustle before quitting my job. For example, I didn’t quit my job until I was able to fully replace my income to minimize my risk. 

One challenge has been monetizing and maximizing revenue from my websites. But, I’ve gotten better with this over the years. 

3. What’s the best advice you’ve received about money? (i.e. always save 10% of your income)

To start saving money when you’re young.

So I had a family friend who was a financial advisor and he showed me the power of investing early in my early twenties. I remember using retirement calculators online and seeing this was really eye-opening.

4. What’s a worthwhile investment you’ve made in your life? (i.e. investing in coaching, investing for retirement, working at a company for free, etc.)

Investing for retirement.

When I was younger I wasn’t earning a high salary and contributed a low portion of this towards retirement. Putting aside 5% of your salary into a 401K isn’t going to add up, especially with a low salary.

Once I turned 30 and started working for myself my financial situation really changed. At that point, my wife and I were able to save a lot more for retirement.

Money Round

How would you spend $1000?

I would donate it to people in need since there are so many people around the world who would benefit from this money the most.

What advice would you give to people who are currently struggling with their finances and feeling hopeless?

First, identify the cause of the problem.

If the issue is with managing your money–I’d say track your expenses. For example, write down every expense in a spreadsheet and categorize them to see how much you’re spending in each category. 

What does money mean to you?

Money itself doesn’t really mean that much to me. But, it does help you do things. Like spending time with your family, traveling, etc. 

 

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About the Author Chris

Chris writes personal finance and productivity articles for software companies. He gets fresh ideas through continuously investing in himself and interviewing successful entrepreneurs.

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