Do you take risks online or do you play it safe?

TommyCarey Level X³

November 21, 2016, 8:04 pm

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Do you take risks online or do you play it safe?

So many times I've seen people make money online and I've also seen the other side of the coin where people go broke.

I've taken plenty of risks working online and some pay off while others do not. I do a ton of research prior to taking the plunge into a new website or venture because I want to know if there's is a possibility of generating a good amount of passive income or if I'd be able to sell my portion of the company later on and retire at an early age lol

Recently I've gotten a few inquiries of people who want to partner up with me because they want a marketing director and they don't really have the funding to hire one. They know of my reputation and found me either through LinkedIn, my own websites, here on SC, or a few other places that I'm pretty active on. Most of these people I have to turn down because their ideas are small and I don't think will make much money. Even if I did make it profitable, they wouldn't be making much and I would have to invest a ton of time into the project in order to make a few hundred bucks a month. Now some of you are saying "What the hell? Why aren't you taking that offer!!!!" and it's because I usually choose a bigger project that requires less work from me to turn a much bigger profit.

Right now I'm taking a chance on a partnership which will get me 50% of the company that is bringing me on if I can produce some decent results within a certain amount of time. If I can hit some specific goals, I get half of the company which will set me up with a pretty good passive income stream I basically just have to get the snowball affect started and push it more and more when the social presence gets bigger

I've taken chances on my own websites as well as partnerships that have completely tanked as well. I did all the research and all my numbers came back as it being a successful venture, but for some reason it doesn't do as well as I predict.

It's a tough thing to take on when you already have a pretty packed schedule, but it can be worth it in the long run. You just need to make sure you have more successful ventures than failed ones lol. When you get a few successful ones under your belt making you some cash, you can use that to push your new ventures with less risk to your bank account

So what about you?
Do you take risks online or do you play it safe?

Don't forget to follow me
https://www.seoclerks.com/user/Razzy

Thanks,

Razzy

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MasterA

This is a very good question Razzy! I have always learned that higher risk results in higher return in all my business, economics and finance classes in school. However, what you learn in school is very theoretical and when it comes to the real life situation. What I normally do is that I try to invest into some risky projects and some safer projects as there can be a lot of uncertainty in the teal world and you should always have backup plans. That is why I try to go with a mixture of different types of projects and I also like projects that require little management and obtains good profit. However, these projects don't always come and it is important to take the opportunity when it comes but whether or not it will succeed is the risk that you will need to analyse.

9 years ago

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TommyCarey

I like investing in the low risk ones that don't take much management, but they don't usually turn a large profit. If I invest in a smaller project, it's usually because I don't have to do any of the work lol

Do you take risks online or do you play it safe?

If the person with the idea has everything set up and making a few sales, but needs a financial boost, I'll come in for a piece of the pie and help push them to bigger profits through paid advertising/brand building. This way I can just set up some basic campaigns to pull in sales and build their brand at the same time. I'll also tell them some marketing tricks to help increase their sales

In the end, hopefully, they're turning a decent profit and I get a percentage of that

And of course, I would back off and just count my money month after month

9 years ago

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idealmike

Great discussion Raz! I think research is key. If you do enough research, you can find out just how much of a risk it is. And with enough research it goes from being a high risk endeavor to almost a surety. You really do have to do a lot of research though because there's a lot of over-hyped up stuff out that that's hyped up to the max on how it's a great "solid" investment that you "can't loose" in. But hundreds, thousands of people have been suckered in by those kinds of things for many years and lost out miserably because of it which really sucks! Especially when they don't get their money back!

But you know, at some point, you have to take a risk, you have to bit the bullet and suck it and see as they say!

Good luck with your new business venture I hope that it all works out well for you!

And we see you back here in several months time bragging about it lol

Cheers!

Mike.

9 years ago

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EliteWriter

To be honest i am not the kind of person who likes to take risks. I am fully aware that some of the best opportunities come when one is risky and willing to try things out. Yet, i do not go to extremes and risk much. Back when i used to look up sites so as to find ways to earn online, i was always very reluctant and read all the terms and conditions to make sure it is safe. I also looked up reviews and did plenty of research. I would not be willing to team up with someone unless i know him well.

9 years ago

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Lynne

I am always looking at new ways to make money online and I am constantly looking to try new things with the websites I've got. I love taking a bit of a risk and you know what? Usually it has paid off well for me. There are a few things I've tried out that didn't really work so great but that is fine too since I have not been able to take too big a risk anyway so if an idea I've had has tanked it has really not been a huge loss.

I am very limited with my time, I have so many ideas that I would love to try out. My dream would be to have a lot more money, to be able to have a team of people that I really trust that I can delegate tasks to. I think I would really be able to grow my business then...but then there is reality where I just sit and work on my own LOL.

9 years ago

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MusicMoguls

When it comes to the game of life i always take risks. I come from a high risk background where it was all about taking risks. I don't think that the risks i take today are nearly as risky as the risks i use to take. It gives me an edge over the competition because sometimes im not afraid to go where others are. Taking on a partnership for me is not considered a risk more of a long term investment, Especially if im helping building the company up from the ground. After all what are you really risking? If time is all your putting forward then its more of a reward if the company takes off than a risk. What do you have to lose? Time is valuable and i get that but these types of investments are low risk. When it comes to me i will always take a risk for reward. First i always make sure that the risk is worth the reward.

9 years ago

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Everett

I like taking risks online, you learn a lot from those risks that can eventually help you in the future. For instance, knowing what SEO methods work and which ones do not. I believe it takes risks to be rewarded. No risk, no reward?

When I first started selling PHP scripts I was concerned about the risks involved. Such as:

Would I get any sales?
Would I be wasting my time coding scripts?
Why would people want to even buy my scripts?
Can I code good enough to actually sell scripts?
Would I waste money to promote myself, when I could have used this money else where with higher gains?

Without the risks, as I have already said, you won't be rewarded. What I know now is from taking those risks. I suggest that if you like to play it safe, to often take risks, and explore possible risks. You never know what is going to happen from taking risks. Evaluate the risk involve and determine if it is worth the risk or not.

9 years ago

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hitmeasap

I would say that I've always been very impulsive. When I felt like diving into something I've just done it. I never really thought about things before I took actions, and that's one of my biggest problems actually. Nowadays I play it a bit more safe but just a few months back, I was a total "leap of faith" kind of guy.

I've lost thousands of dollars over the years, due to seriously stupid investments of all kinds. I literally gave away hundreds of dollars here and there, in some sort of attempt to help others but also, more importantly, to build multiple income streams myself. - That's what I'm looking for. I want multiple income streams. Sure, I wouldn't mind having a few income streams where I earned tons of cash, but I'd rather have several income streams that generated a bit less money. So basically, I'd rather have several income streams that gave me less money from each source than 1 income stream that gave me the same amount. - It's also easier to build something that generated a small amount than something that made huge bucks, so in reality, it will most likely be easier for me to build multiple income streams than just a handful of big ones.

9 years ago

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Cristian

I never gamble with my own money, NEVER. This is one of my most important rules because some people are gamblers, not risk takers.
I do take risks but only when the probability of success is high, if the probability of success is below 50 percent I just consider that gambling and I won't do it.

I'll take bigger risks but on someone else's money, usually, clients, which I will inform probably about the potential chance of success before I attempt anything important.

9 years ago

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vinaya

I am a risk taker. I believe without taking a risk, we will never achieve high. My decision of becoming a freelancer itself was a risk. I had enough qualifications to become an employer in a newspaper, however, I decided to freelance. I was already earning well writing for clients, but I took a risk of launching blogs and websites. I invested a lot of money on my blogs and websites, which are not earning me a good revenue. However, I consider my blogs and websites to be an investment that will give me returns in the long run.

8 years ago

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Corzhens

I used to be an adventurer when it comes to earning money. In fact, I was quite successful in selling ready-to-wear clothes before I put up my own boutique. But business is not that easy to handle sometimes especially when you are hit hard by misfortune. Now I am playing it safe and any investment in the internet will not attract me no matter how juicy it is. I am content with what I am doing now and my meager online earnings are enough for me for the moment.

8 years ago

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Do you take risks online or do you play it safe?

Do you take risks online or do you play it safe?

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MasterA

TommyCarey

idealmike

EliteWriter

Lynne

MusicMoguls

Everett

hitmeasap

Cristian

vinaya

Corzhens

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