What the 6 Figures in 6 Months Challenge Is About
The goal of the challenge is to create as many niche websites as you can in 6 months. I actually decided that I am going to go all in on this and decided to increase my level of outsourcing.
I am now getting more articles and content written for my websites and I am trying to get them up as quickly as possible.
Of course this has dramatically increased my business expenses, but I am still paying for it all in cash from my business revenue. (I will NEVER go in debt for anything again.)
Why am I doing this instead of putting every spare penny towards my debt? Although I am still paying a good amount on my debt (It may not look like it, but don’t forget I am also paying interest). I also need to grow my income and to do that I need to invest in and grow my business as well.
It would be safe to say that 50% of my earnings for the next 6 months will be going straight back into growing my business.
This will actually help me get out of debt quicker by increasing my income and giving me more assets. (Don’t forget, this is virtual real estate and could always be sold if immediate cash is needed.)
Plus, remember it is tax deductible. 
Progress Overview
Wow, sounds like a great program. How helpful is the guy running it? Wish you the best of luck and hope you keep us updated.
Sounds interesting.
Is there some kind of prize or bonus for making the most niche sites in 6 months? Are you getting any good tips? I’m just wondering because you were already making niche sites like crazy before shelling out $197 to do this challenge. I know that the challenge gives you more motivation to get as many done as possible so that’s one good thing. Just wondering if you are really getting your money’s worth. Still rooting for ya though!
Nichele
interesting goal and in 30days…
You have such incredible motivation! I can just see you on Oprah one day, explaining how “it all started with this little blog”. Can’t wait to see how it all turns out!
I would say it is more motivational than anything else so far. It was worth the money to me though to have someone pushing me for 6 months. I am sure because of it I will make much more than the $197.
Oh as far as prizes go, the person who makes the most websites in the next 6 months joins his ‘inner circle’ which he says is life changing. I am shooting to win.
I figured it was just a good way to motivate you to do better. That’s really awesome - nothing beats a contest with a great prize!
Sounds great! Best of luck!! I can’t wait to see how you make out.
I think you’re doing the right thing. At least your balance is declining each month, even with interest.
Dave never said you couldn’t use any of your extra job income to pay the expenses for that job. If you drove to work to a second job and had to hire a babysitter, he would certainly expect you to pay cash for those expenses out of the extra earnings that income stream is producing. Same if you were using your car to deliver pizzas. He’d expect you to pay for gas, oil, tires and maintenance out of your extra earnings. In fact, it would be essential because I know his intent is not for your extra income to cost you more than you make.
50% going to business expenses for 6 months of an income increasing monthly isn’t bad at all. I own a small business and my net ordinary income isn’t anywhere near 50%. That’s a great NOI. And when your NOI increases from that, you’re doing extremely well. (NOI is net income after expenses, payroll and taxes but before business debt and owner’s equity withdrawals. If I understand how you’re doing things, you don’t have payroll for yourself. You’d just pay self-employment tax on NOI of 15.3%. And thank goodness expenses are deductible!)
My debt balance is still increasing because I can’t pay enough yet to overcome the interest charges. But I keep working on paying more. Once I can get more of the smaller debts off my snowball, the momentum will increase.
Sherri, Thank you for that. I figure it is much better than taking out a business loan.
Dave Ramsey grew his business with cash and so can I.
Geez thats all we need. More spam websites that are a waste of time. Hopefully google catches on to your scam and deletes your adsense account.
Thomas, You have it all wrong. It is not about making spam sites. It is about making sites with helpful unique content. About 15-30 articles each actually. All hand-written.
Nothing spam about that.
I wish you the best of luck Amy! Just don’t lose sight of the original goal.
I agree. I would invest half in the business and put the other half on bills as well. Right now it is a win win situation no matter how you look at it.