Forum conversion to paid.

[CB]

Let me not be the last to congratulate you doc for acheiving one of you goals when starting this website.  I would like to throw out a few ideas for discussion on how we can raise money for your increased fees and continue to increase members. 

First of all, I do not think that you can charge for access for every one of your boards.  Free information is the only way to increase memberships.  However, I do not think that you should be the main supplier of this information (although you will still frequent 'free boards').  I think you need to take some of your best posters and give them a status that is higher than the average member.  For example an obvious one is Vegas.  He is a very successful trader who always has good information.  I dont mean to exclude any of the other great posters at all.  Vegas frequently posts on the NYSE/AMEX and pink boards which would be great boards to remain free.  Dz posts wonderful information on the options boards and is very successful there.  These are boards that are doing very well without your 'expert' advice, just your opinions after people post their information. 

I also beleive that you can give these posters a free membership because most of them will donate to the website anyway. 

My suggestion would be to take your baby - OTCBB and the private forum and make them paid.  I like the idea of an option of a monthly fee and a yearly subscription.  One change I would make is to have 3 months a year free to anybody for the paid forums, but not 3 months in a row.  People need to see what you are doing in these forums.  For example, charge $200 a year or $25 a month.  But, that $25 a month only gets charged for 9 months out of the year due to the free months for new membership promotion. 

A suggestion for change to the blog - instead of mentioning which stocks you are looking at and buying for the $1M challenge, only have a blurb in there stating how close you are to acheiving it.  Do not give any hints out.  Also - inform mods to delete or modify any posts within the individual stock forums that mention that the stock is part of the challenge. 

[Dr PennyStock]

Thanks for your opinion CB, I will open a topic to discuss this on my private board and I will merge this topic with mine, but, first I have other work to do.

[RoagTrader]

I want $5,000 a year to comment here or I'm gone!



(LOL, don't everyone say goodbye at once!)

Seriously, I emailed Doc some suggestions which he can post here.  I agree with most of what CB says.

[CB]

Just another suggestion, I wouldnt be against doc just asking for donations for 1+ years' cost to run the website.  If he doesnt get the money within a month he can go to a subscription based fee.  But that is only if he wants to provide forums to the entire public until he has completed his challenge.  People can just pledge the money and when we get to 3k or so we send it in to him. 

Let me add that the reason I would suggest this is that if people see him make it to his $1M, the membership for a paid forum after that will allow him to buy all of us very fast cars.   

[RoagTrader]

The more popular this site becomes, the more trolls it will attract and the more work the moderators will have to do.

I say keep the trolls out and let's pay something.  There's some great talent here and if you listen, learn, and are disciplined you can make a lot of money (insert disclaimers and standard boilerplate here).

[Stretcher75]

I agree... this site is so great due to not having any pumpers or dumpers. The moderators and DrPennyStock do a hell of a job.

[CB]

Anyone will tell you that we have a great community and nobody likes the spammers and pumpers.  But from a business standpoint, doc can only make a couple grand a year with the base he has right now.  If the million dollar challenge is FREE and SUCCESSFUL (meaning the whole internet can watch it), he would have the oppurtunity to make 100k plus a year in subscriptions and another 50-75k in advertising.  

[CB]

And I guess what I should have added to my previous post, I am willing to donate money to keep the boards free for the next year and a half to help add to the success of the board and to keep it free to attract more members. 

[RoagTrader]

Anyone will tell you that we have a great community and nobody likes the spammers and pumpers.  But from a business standpoint, doc can only make a couple grand a year with the base he has right now.  If the million dollar challenge is FREE and SUCCESSFUL (meaning the whole internet can watch it), he would have the oppurtunity to make 100k plus a year in subscriptions and another 50-75k in advertising.  

CB, the more people visit the site and start "trading" Doc's picks, at some point the Law of Diminishing Returns will come into play, and it will be impossible for Doc or anyone to achieve the $1 million challenge goal.

[CB]

Anyone will tell you that we have a great community and nobody likes the spammers and pumpers.  But from a business standpoint, doc can only make a couple grand a year with the base he has right now.  If the million dollar challenge is FREE and SUCCESSFUL (meaning the whole internet can watch it), he would have the oppurtunity to make 100k plus a year in subscriptions and another 50-75k in advertising.  

CB, the more people visit the site and start "trading" Doc's picks, at some point the Law of Diminishing Returns will come into play, and it will be impossible for Doc or anyone to achieve the $1 million challenge goal.

I guess I need you to expand on this.  I dont understand how doc creating a large following will cut into his hopeful future profits from the website.  He already knew he would have to expand his server, he just didnt get any warning from his company he contracts.  Also, how would this affect the goal of $1M?  Do you think that the website will have an effect on how the stocks trade?  It may be possible for 1 or 2 of them if he picks a penny, but not for most of them. 

[RoagTrader]

I just think that the more time Doc spends managing the site, the less time he will have to really focus on the challenge.  Maybe I underestimate his abilities, but there are only so many hours in a day.

[Alan412]

lets not forget...if Doc is anywhere near successful on this challenge im sure he will be getting many many years worth of subscription fees just in donations.

[Dzielak51]

Doc, you should do something like Ihub.  Offer like a 2 wekk "free" trial to look inside your private boards, then if they like it charge them a small monthly fee.

[vanguard223]

I'll donate to help keep the site going or pay a subscription fee...whatever the final decision is.  The info and community here are well worth it.  You all are a great bunch of guys from all over the world.  Just take a look at the Yahoo and Investor's Hub boards to realize how good we have it here.  No idiots, no pumpers, no nonsense.

Whatever happens to the site, I'm sticking it out.

[Richmm63]

I'll donate to help keep the site going or pay a subscription fee...whatever the final decision is.  The info and community here are well worth it.  You all are a great bunch of guys from all over the world.  Just take a look at the Yahoo and Investor's Hub boards to realize how good we have it here.  No idiots, no pumpers, no nonsense.

Whatever happens to the site, I'm sticking it out.

I agree 100%