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Your Online Business Idea to Make 500,000$+ Profit Per Month ?

Tate

Tate

Mentor Group Gold Premium
Jan 1, 2023
21
15
3
46
Switzerland
#1
Hi,

After all, we're all here to maximize our earnings, so as the title suggests, which online business (White/Grey) do you think would give you the best chance of reaching 500k$ in net profit per month?

Personally, I think IPTV/Replica projects would do it, your suggestions?
 
#3
Replica, Pharmacy, Gambling, Adult and everything else that is considered high risk would bring you this type of money! But there is a lot of competition, risks and you need some startup knowledge and money.
 
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#6
quickpunch said:
For me having around 60K, what do you recommend investing time and money to? (from your own perspective)
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That's not much to enter into the mentioned businesses. But you will have to do your own research on it. Sometimes one can be lucky and get things started cheaper than expected.
 
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#7
JohnLocke said:
That's not much to enter into the mentioned businesses. But you will have to do your own research on it. Sometimes one can be lucky and get things started cheaper than expected.
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Let's say if I can raise money or partner with someone else, How much do you think would be the minimum needed and what would you personally prefer and enter into?
Just wanna have a clue
 
#8
quickpunch said:
what would you personally prefer and enter into?
Just wanna have a clue
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I have no doubt that I would expand OffshoreCorpTalk.com - nothing else interests me.

And if you can raise money and people with knowledge and references, then I would, if I were you, start a payment system, whether it's card payments, crypto payments, or a bit of both doesn't matter, you need to be where the money flows.
 
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#9
JohnLocke said:
I have no doubt that I would expand OffshoreCorpTalk.com - nothing else interests me.

And if you can raise money and people with knowledge and references, then I would, if I were you, start a payment system, whether it's card payments, crypto payments, or a bit of both doesn't matter, you need to be where the money flows.
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I can raise money easily and have people with spectacular knowledge and expertise in IT and software/web development.

But for something like card payments, I guess I need to know people and have big connections with those in banks to be able to acquire MIDs for my clients to process cards for them, right?
Because otherwise, how would it be possible to do it? you mean running a legit PSP company and getting licenses and regulations for it?
 
#10
quickpunch said:
Because otherwise, how would it be possible to do it? you mean running a legit PSP company and getting licenses and regulations for it?
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correct, you need connections to acquiring banks and others in the banking sector and that is the most difficult part. I was into it 17 years ago, and already at this time it was very difficult, but still possible. We connected with Mastercard in Uruguay, Pago in Germany, WireCard, Euroline in Sweden etc etc ... most of them are long gone as you may have read.. but it was big business as long as it was possible.
 
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#11
JohnLocke said:
correct, you need connections to acquiring banks and others in the banking sector and that is the most difficult part. I was into it 17 years ago, and already at this time it was very difficult, but still possible. We connected with Mastercard in Uruguay, Pago in Germany, WireCard, Euroline in Sweden etc etc ... most of them are long gone as you may have read.. but it was big business as long as it was possible.
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Thanks for your time and your replies Man,
I really do appreciate it. but with what you said it seems that it's quite impossible for me to enter into such a thing as it's right that I can raise capital and know people experienced in IT and platform development, but unfortunately I have no connections with bankers or people in this field to do such a business with. if you ever know anyone who knows people in this sector and wanna partner or have any other ideas, I'd be grateful if you could share or connect me, thanks.
 
#12
I have a feeling that @Sols is into this business, not sure.
 
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#14
Financial services is a sector where you need connections just as much as capital.

Unlike building for example a SaaS business around a good product idea, in financial services, it's not only a matter of finding developers, marketing, customer support, and sales. You also need connections within the financial services sector to have a chance at being taken seriously (and not get ripped off) when speaking with banks, VASPs, PSPs, and so on. If your business plan includes getting a license, you need even more money — both for regulatory obligations but also to hire a whole legal/compliance team. If you handle card payments, you need to consider PCI-DSS compliance.

Good connections are hard to make. Practically every successful founder in this industry first spent a few years in the industry. Those who didn't hired people from the industry: by poaching good people from competing business and/or hiring freelancing consultants.

quickpunch said:
@Sols If you are into this business by any chance and looking for a partner, please let me know. we can have it discussed
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I appreciate the consideration but I'm not the right person for this at this point unfortunately.

I could be wrong but I get the feeling you're interested in starting a business without really knowing what or what for. It sounds like you have the right ambition and drive, and combined with the ability to raise capital and tech resources — all you're missing is an idea that you're passionate about. Go find that idea (on your own or with cofounders), and then start your journey.
 
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#15
Sols said:
Financial services is a sector where you need connections just as much as capital.

Unlike building for example a SaaS business around a good product idea, in financial services, it's not only a matter of finding developers, marketing, customer support, and sales. You also need connections within the financial services sector to have a chance at being taken seriously (and not get ripped off) when speaking with banks, VASPs, PSPs, and so on. If your business plan includes getting a license, you need even more money — both for regulatory obligations but also to hire a whole legal/compliance team. If you handle card payments, you need to consider PCI-DSS compliance.

Good connections are hard to make. Practically every successful founder in this industry first spent a few years in the industry. Those who didn't hired people from the industry: by poaching good people from competing business and/or hiring freelancing consultants.


I appreciate the consideration but I'm not the right person for this at this point unfortunately.

I could be wrong but I get the feeling you're interested in starting a business without really knowing what or what for. It sounds like you have the right ambition and drive, and combined with the ability to raise capital and tech resources — all you're missing is an idea that you're passionate about. Go find that idea (on your own or with cofounders), and then start your journey.
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Thank you so much for you reply sir,

You're absolutely correct. I'm looking to start a business but don't want to go for a passion that leaves me with nothing but an empty pocket and a hopeless guy at the end because of me being stubborn enough to just do whatever I like without seeing its future or even the possibilty of it to be probably successful. That's why I want to ask experienced people, see what they would suggest, those like you and the admin who are generous enough to share their experiences to us newcomers and go for a business that has a more chance of being successful or at least has already shown to be, being done by someone else and also I guess it is always a good idea to partner with people that are more experienced and know things more than you, as the capital and the tech resources are not definitely enough along the way as you said.

I guess there is always the chance to seek the passion and go for what you like and can dedicate your life to it no matter what, but I guess I need to form a base first.
 
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#16
Otherwise, you could enter as a passive investor in a project, that's also an option, then it's more of an investment rather than something you can work with. Alternatively, you could buy a business that is already generating profit and revenue, which you can then grow.
 
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#17
JohnLocke said:
Otherwise, you could enter as a passive investor in a project, that's also an option, then it's more of an investment rather than something you can work with. Alternatively, you could buy a business that is already generating profit and revenue, which you can then grow.
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I have always been skeptical about businesses for sale, I don't know why. I feel they are dead businesses or at stages with costs much more than profits or something wrong with them.
If not, why would somebody wants to sell a business that is generating revenue? even if it's very low. They can easily assign it to someone else or find a manager for it if they have no more time for it.
 
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#18
You can't view it that way, it's incorrect. There are many good businesses for sale, and likewise, many good businesses in which one can invest. It is absolutely not a bad indicator if a business is for sale.
 
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#20
quickpunch said:
Do you know any trustworthy source of these businesses for sale by any chance?
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Based on what you are writing, I think it is appropriate if you read this book: The Intelligent Investor. Rev Ed.: The Definitive Book on Value Investing

Memorize chapter 8 and chapter 20! ;)

What is it about? This man is the protégé of Professor Ben Graham:

PS. In euphemism jargon, it's going to take time, like bodybuilding. Actually, building quality muscle is easier than investing. There is NO overnight success. Some exercises (investment/strategy) will NOT work for you, and those that do will NOT work for others. You seem to have a lot of energy, so channel it into that book. You'll find your way! Stick to what you know and become better than others who also specialize in that subject. Stay within YOUR circle of competence! ;) Success!
 
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