What You Should Spend And Should Not Spend In Your Internet Business
Besides information overload which you have read from most marketers, another problem I discovered that most people - including myself initially faced when it comes to starting an online business is what they should and should not spend their hard-earned money on.
According to Robert Kiyosaki's Rich Dad Poor Dad, there is a fundamental difference between spending money and investing money.
When you are buying things that only benefit you short-term but does not give you long term ROI, you are spending money.
But if you are putting your money in things that does not give you immediate but long-term benefits gradually, you are investing.
Most people - especially average and lower income earners that Robert put across as poor dads - have the misconception that as long as you give people money, you are spending but that is not true.
One thing I need to make it clear to you is that like all businesses, investments are unavoidable in internet business as well. You just need to differentiate between a good and bad one.
With that being said, here are the things you should and not should spend on in your internet business.
A. Things You Should Spend On
1. Tested And Proven To Work Internet Marketing Course By Creditable Marketer
Besides listening to marketers advice, it is essential for you to do due diligence by researching as well.
You can just Google the name of whichever marketer you want to find out more information about for the results of what people say about him or her.
You can also go to relevant forums like here and find out what other marketers say about certain gurus and their courses under Internet Marketing Product Reviews section.
Before you invest, make sure it is a tested and proven to work internet marketing course for people like yourself.
Don’t just find out how well the marketer or product owner but also his students as well.
Because if they can earn, so can you.
You do not need to invest in many courses to succeed online.
Just a few good ones will do. Once you signed up, give yourself at least 2-3 months to go through and take action on what you learned.
It is just like studying in school.
If you read and do your homework your teacher tells you to, you will have a higher chance of passing your tests and exams than those who don’t.
2. Autoresponder
You might have heard the saying The Money Is In The List.
That is especially true when you are promoting digital products from affiliate marketplaces like Clickbank, JVZoo and Warrior Plus.
Having your list of subscribers and even customers is like owning your own traffic so that you can market to them again and again without having to look for new prospects constantly.
This applies not just to online but offline businesses as well.
An autoresponder is a web-based application which enables you to create optin forms, lead capture forms for getting their names and email addresses as well as sending them emails to send them free gifts they opted for and recommend products.
One service I have been using til now is Aweber.
3. Domain And Web Hosting
Just like offline businesses require a café, office or shop, online ones require domain and web hosting as presence for the world to see and invest in.
They served not just internet addresses but as way of branding for what they promote.
For these, I used Namecheap and Hostgator.
4. Wordpress Theme For Your Blog
Some people might have a different opinion about this.
But since most marketers are now using Wordpress as their sites, having a quality theme helps.
Although there are many free ones, you might consider investing in one if you wanted a higher quality yet more reliable theme for your blog or landing page.
5. Software Tools
There are 2 types of software tools as in desktop and web-based applications.
I bought a few of them for keyword research, generating content ideas and building sites.
Though you can do these manually, having tools helped you save time and effort in getting what you want.
6. Outsourcing
In internet businesses, you cannot always depend on yourself to learn and do everything.
After all, time is just as important besides productive work and results.
To ensure faster success, you need to outsource some of your work to freelancers who can do just as good or even better than you.
7. Paid Traffic Like Facebook And Solo Ads
Realistically speaking if you want quick instant traffic and sales, Facebook and solo ads are the way to go.
That is if you know how to do it correctly.
B. Things You Should Not Spend
1. Buying Course After Course
As I mentioned before in my previous articles, do not fall into this newbie trap of buying course after course but ended up not going through and implementing what the courses teach.
Buying things won’t make you money.
Learning and taking action to market does.
2. Buying Software After Software
The same goes for software tools.
Do not do this into thinking that they will make you instant money just by activating and clicking them.
With that said, these are what you should and should not spend on in your internet businesses.
And very costly lessons I learnt from experience.
According to Robert Kiyosaki's Rich Dad Poor Dad, there is a fundamental difference between spending money and investing money.
When you are buying things that only benefit you short-term but does not give you long term ROI, you are spending money.
But if you are putting your money in things that does not give you immediate but long-term benefits gradually, you are investing.
Most people - especially average and lower income earners that Robert put across as poor dads - have the misconception that as long as you give people money, you are spending but that is not true.
One thing I need to make it clear to you is that like all businesses, investments are unavoidable in internet business as well. You just need to differentiate between a good and bad one.
With that being said, here are the things you should and not should spend on in your internet business.
A. Things You Should Spend On
1. Tested And Proven To Work Internet Marketing Course By Creditable Marketer
Besides listening to marketers advice, it is essential for you to do due diligence by researching as well.
You can just Google the name of whichever marketer you want to find out more information about for the results of what people say about him or her.
You can also go to relevant forums like here and find out what other marketers say about certain gurus and their courses under Internet Marketing Product Reviews section.
Before you invest, make sure it is a tested and proven to work internet marketing course for people like yourself.
Don’t just find out how well the marketer or product owner but also his students as well.
Because if they can earn, so can you.
You do not need to invest in many courses to succeed online.
Just a few good ones will do. Once you signed up, give yourself at least 2-3 months to go through and take action on what you learned.
It is just like studying in school.
If you read and do your homework your teacher tells you to, you will have a higher chance of passing your tests and exams than those who don’t.
2. Autoresponder
You might have heard the saying The Money Is In The List.
That is especially true when you are promoting digital products from affiliate marketplaces like Clickbank, JVZoo and Warrior Plus.
Having your list of subscribers and even customers is like owning your own traffic so that you can market to them again and again without having to look for new prospects constantly.
This applies not just to online but offline businesses as well.
An autoresponder is a web-based application which enables you to create optin forms, lead capture forms for getting their names and email addresses as well as sending them emails to send them free gifts they opted for and recommend products.
One service I have been using til now is Aweber.
3. Domain And Web Hosting
Just like offline businesses require a café, office or shop, online ones require domain and web hosting as presence for the world to see and invest in.
They served not just internet addresses but as way of branding for what they promote.
For these, I used Namecheap and Hostgator.
4. Wordpress Theme For Your Blog
Some people might have a different opinion about this.
But since most marketers are now using Wordpress as their sites, having a quality theme helps.
Although there are many free ones, you might consider investing in one if you wanted a higher quality yet more reliable theme for your blog or landing page.
5. Software Tools
There are 2 types of software tools as in desktop and web-based applications.
I bought a few of them for keyword research, generating content ideas and building sites.
Though you can do these manually, having tools helped you save time and effort in getting what you want.
6. Outsourcing
In internet businesses, you cannot always depend on yourself to learn and do everything.
After all, time is just as important besides productive work and results.
To ensure faster success, you need to outsource some of your work to freelancers who can do just as good or even better than you.
7. Paid Traffic Like Facebook And Solo Ads
Realistically speaking if you want quick instant traffic and sales, Facebook and solo ads are the way to go.
That is if you know how to do it correctly.
B. Things You Should Not Spend
1. Buying Course After Course
As I mentioned before in my previous articles, do not fall into this newbie trap of buying course after course but ended up not going through and implementing what the courses teach.
Buying things won’t make you money.
Learning and taking action to market does.
2. Buying Software After Software
The same goes for software tools.
Do not do this into thinking that they will make you instant money just by activating and clicking them.
With that said, these are what you should and should not spend on in your internet businesses.
And very costly lessons I learnt from experience.