Ok I'm in deep shit

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int_josh

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Nov 12, 2006
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Ok guys. Here's the thing.

All my playing around with businesses landed me into some hardcore debt.

It's pretty bad, but not the end of the world. As of now I'm making about 1k a month profit, but this is barely enough to scrape by and pay bills and interest on debt (live in a shack with roomates, car paid off, minimal expenses).

I still have about 10k left in my line of credit (and can probably bump it to about 30k easily). I'm playing scared money, but I'm willing to go balls to the wall and keep playing til I'm down and broke.

I have no college ed. so the only job I can probably get is some retail bullshit or some other odd job like that.

So, basically I need advice from people that have experienced something like this. What is the best course of action when you're forced to play scared money.

Appreciate all input.
 


Take all your assets and put it all on black. It's essentially what you're doing, but it will take a whole lot quicker.
 
int_josh said:
Ok guys. Here's the thing.

All my playing around with businesses landed me into some hardcore debt.

It's pretty bad, but not the end of the world. As of now I'm making about 1k a month profit, but this is barely enough to scrape by and pay bills and interest on debt (live in a shack with roomates, car paid off, minimal expenses).

I still have about 10k left in my line of credit (and can probably bump it to about 30k easily). I'm playing scared money, but I'm willing to go balls to the wall and keep playing til I'm down and broke.

I have no college ed. so the only job I can probably get is some retail bullshit or some other odd job like that.

So, basically I need advice from people that have experienced something like this. What is the best course of action when you're forced to play scared money.

Appreciate all input.
Click to expand...

Don't get into debt. If you're young enough, move back in with your parents and payoff your debt and get back in the black.

If that's not an option, get a part time gig.

Debt is a motherfucker and it will eat your energy up.

I'm afraid there's no easy answer. You have tough decisions to make. And remember to always keep the long haul in mind.
 
Get a real job. Create a budget. Cut all unneccessary expenses.

Living in debt sucks--its an unending cycle of bad habits even if you're raking in money.

Only invest debt money if you have a project you would bet your life on.

Contrary to what people want you to believe, you don't need a college education to get a decent job.
 
been there. done that. unfortunately there's nothing i can say to make it any easier or help you feel any better.
Just do what you got to do.
 
Get a job. Anything will do, as long as it pays halfway decent. Then, when your online career starts picking up again and you're making decent bank, pay off your debt and quit the job.

Simple as that.
 
get a job. resort to cheap online moneymaking ventures (ie using blogger blogs instead of buying hosting and domains)

debt isnt a fun place to be.
 
Why the fuck are you going deep in to debt to start businesses that make no money?

This is what your costs should be:
1. Computer
2. Internet Connection
3. Web host
4. A few domains

Unless your buying paid advertising or have a fucking shitload of visitors to your sites your costs should not be scaling up with your revenue (or without it.)
 
It sounds to me like you're pretty close to making ends meet and then being in the black from then out. I'd suggest you just try to redouble your efforts. Stay in on weekends, work work work work work until you get some profitable results.

Also, I'd get to work on some email lists. Those can come in handy if you ever realize that you've got expenses coming up.
 
just a tip - if you're stuck with a lot of debt and the interest is killing you
see if you quality for a 1.5 yr 0% APR CC, shift your debt to that and the interest won't stop you from paying it off then.

Just a tip.
 
Um, get a job? Go flip burgers and spend every moment after work doing internet stuff. Who knows - maybe that time scarcity will make you kick it into gear faster...

I would seeeeeriously advise against living on credit. It sounds like you don't need much to live on, so go get any job you can and work your tush off. :)

Laura
 
OK... one moment here.

You said you are making 1K PROFIT per month. Obviously, some of your shit is working.

Time to sit down with loads and loads of coffee, all the numbers you can get and some pens.

Figure out what is working.
- which domains / offers are profitable?
Figure out why it is working.
- What strategy are you using?
- what is the sales copy, layout, color scheme, topic, niche....
Figure out how to repeat or expand it.
- More niches / domains?
- More keywords, PPC advertising, more profitable campaigns available?
- SEO?

Figure out what is not working.
- Which domains are nnot bringing in the dough.
See if it can be repaired.
- Does it need content, a new design, better ad copy?
Ditch what can not.

DO IT FUCKING NOW!

::emp::
 
emp said:
OK... one moment here.

You said you are making 1K PROFIT per month. Obviously, some of your shit is working.

Time to sit down with loads and loads of coffee, all the numbers you can get and some pens.

Figure out what is working.
- which domains / offers are profitable?
Figure out why it is working.
- What strategy are you using?
- what is the sales copy, layout, color scheme, topic, niche....
Figure out how to repeat or expand it.
- More niches / domains?
- More keywords, PPC advertising, more profitable campaigns available?
- SEO?

Figure out what is not working.
- Which domains are nnot bringing in the dough.
See if it can be repaired.
- Does it need content, a new design, better ad copy?
Ditch what can not.

DO IT FUCKING NOW!

::emp::
Click to expand...

This is the truth.

Give it some time, if redoubling your efforts doesn't pay off enough. Go snag your self some shitty part time job that covers the bills and keep on prodding away. Just make sure the debt is covered and keep making that money.
 
emp said:
DO IT FUCKING NOW!
Click to expand...

Hmmm....I think he means it. BTW, great advice Emp. Something that struck me as odd "$1k per month profit", Profit is what you have after all your expenses. So, if you are making a $1000 profit, then you're not doing bad at all. That indicates that you've paid all bills related to your business, which in your case would be ALL your bills.

I'm guessing that you mean you make $1000 in REVENUE per month. Revenue is just the money you bring in before expenses, etc.
 
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