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Old 09-23-2008, 11:02 PM   #1
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Default What to do with 1000 dollars profit?

So do I save it? Spend it on something? or what would you buy to build your business? I am just curious what I should do with it

Jason

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Old 09-23-2008, 11:07 PM   #2
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Default Re: What to do with 1000 dollars profit?

Always put at least 10 percent of it into a money pool fund. Then it can be ther when you want it or need it. Use at least another 10 ercent to pay for business expansion.

And if you need ideas on what to do with the rest I will send you my paypal address
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Old 09-23-2008, 11:08 PM   #3
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Default Re: What to do with 1000 dollars profit?

Personally, I'd just stick it in the bank and wait until the next time you are doing something and say, "Gee, if only I had XXXXXX". If that will improve your business or help you make money, go for it. I guess my point is I'd wait until I had a 'problem' to solve, rather than start looking for solutions without a stated problem. That could be my software engineering side coming out though.

I hear you can get a decent TV for about that nowadays...

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Old 09-23-2008, 11:28 PM   #4
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Default Re: What to do with 1000 dollars profit?

Re-invest all of it unless you need it.

Obviously it's easier to make money when you have money.

I've built my business online for the past 10 years by re-investing profits and now make 7 figures working from home.

Create products, build sites, buy domains...just make your money work for you instead of the alternative.

Here's to you tripling your income...good luck!

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Old 09-23-2008, 11:43 PM   #5
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Default Re: What to do with 1000 dollars profit?

Quote:
Originally Posted by twistedpixel View Post
Re-invest all of it unless you need it.

Obviously it's easier to make money when you have money.

I've built my business online for the past 10 years by re-investing profits and now make 7 figures working from home.

Create products, build sites, buy domains...just make your money work for you instead of the alternative.

Here's to you tripling your income...good luck!
Well I am wanting to reinvest a lot of it into my business but I was looking for what would be the best investment. Is it purchasing new sites or would it be buying articles or links? I am working on a few blogs so cursious how to go with this.

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Old 09-23-2008, 11:47 PM   #6
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Default Re: What to do with 1000 dollars profit?

I'm a 1/3 girl myself.

1/3 save
1/3 spend
1/3 reinvest in business.

That way I feel I'm growing my assets (saving), treating myself (spending) and creating future income (investing).

Tracey
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Old 09-23-2008, 11:58 PM   #7
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Default Re: What to do with 1000 dollars profit?

I agree with Tracy completely!

Invest a little back into your business but more importantly (arguably) buy yourself something with it too.

Thats the whole point of making money in the first place, to buy yourself nice things so splurge a little to congratulate yourself on a job well done

Puppets are people too
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Old 09-24-2008, 01:03 AM   #8
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Default Re: What to do with 1000 dollars profit?

Listen to Tonny Robbins' Three Bucket Asset Allocation.

1. Security Bucket: investments that are very secure, but not so high return
2. Growth Bucket: your current business probably, or in others.
3. Dream Bucket: things you want to buy

The percentages, that depends on your risk tolerance. If you are young, put more in #2, if you are older, in #1

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Old 09-24-2008, 01:15 AM   #9
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Default Re: What to do with 1000 dollars profit?

Depends.

If you're somebody like me, I'll spend it (since its only $1000)

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Old 09-24-2008, 01:29 AM   #10
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Default Re: What to do with 1000 dollars profit?

Oh thats easy!

Give it to me!

That way you won't get confused on what to do. Let me worry about spending it :-)

It's not a joke im serious :-)

Regards,

~rapidscc

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Old 09-24-2008, 01:32 AM   #11
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Default Re: What to do with 1000 dollars profit?

You should stick half in a savings account. Then split the other half between reinvesting into your business and spending for fun.
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Old 09-24-2008, 01:44 AM   #12
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Default Re: What to do with 1000 dollars profit?

Quote:
Originally Posted by Jason Zalesky View Post
Well I am wanting to reinvest a lot of it into my business but I was looking for what would be the best investment. Is it purchasing new sites or would it be buying articles or links? I am working on a few blogs so cursious how to go with this.

Jason
What is your business model?

Reinvest it in whatever gives you the most leverage within that model.

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Old 09-24-2008, 01:50 AM   #13
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Default Re: What to do with 1000 dollars profit?

Hi Jason,

Kyle T is right - figure out exactly what part of your business it was that earned you the $1000, and then spend the $1000 outsourcing and upscaling things so that the next profits are even higher, and then keep on doing it.

Hope that helps

David

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Last edited by David Raybould; 09-24-2008 at 02:03 AM. Reason: typo
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Old 09-24-2008, 02:37 AM   #14
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Default Re: What to do with 1000 dollars profit?

I just earned my first $200 from sales and at this stage I thought it was best to reinvest. Now, I expect my next project to make me even more money ($200 isn't a lot, but you've got to start somewhere )

First priority: build a steady stream of income.

Then when that is achieved start spending a bit on yourself too.

That's what I plan to do anyway.

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Old 09-24-2008, 02:48 AM   #15
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Default Re: What to do with 1000 dollars profit?

Hey man,

Why not get some articles written? promote what web pages you have now and try to make something back on your investment! Maybe start up a little PPC campaign, invest in a few WSO's or yeah, you coiuld just give it to me

Be smart dude, I'm sure you'll make the best decision
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Old 09-24-2008, 05:34 AM   #16
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Default Re: What to do with 1000 dollars profit?

1. Hire a ghostwriter to create another product in your niche.
2. Promote your products/affiliate products using paid advertising
3. Buy yourself a present.
4. Invest in yourself.
5. Give it to me ;-)

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Old 09-24-2008, 05:36 AM   #17
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Default Re: What to do with 1000 dollars profit?

I'd do what a lot of others have mentioned. Invest it in something that will make you $2,000 or more.

You coulc have a product created, a better sales page written, use it to build your list, use it for PPC or some other form of online advertising that will give you a good ROI.

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Old 09-24-2008, 11:27 AM   #18
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Default Re: What to do with 1000 dollars profit?

Wow big response didnt think I would get this much attention....Since I am starting into blogging would you buy a established blog or just create from scratch and hire someone to write articles or posts?

Or is it better to have someone to a unique design on a site you already own? Just curious what people would do since as you can tell I am not sure what the write direction is yet

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Old 09-24-2008, 11:41 AM   #19
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Default Re: What to do with 1000 dollars profit?

INVEST! Ask yourself if you really need to buy that new toy right now, or if it can wait. Save some for later when you might be in a jam, and invest the majority.

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Old 09-24-2008, 11:44 AM   #20
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Default Re: What to do with 1000 dollars profit?

Depends on your business goals.

If you want to build a big business, reinvest all of it. I didn't take a penny out of my business until nearly two years in.

My plan was simple. I had a site that was making money. So the profits went into marketing (traffic generation) for that site to create more profits to put back in.

Then I expanded and did the same thing.

At some point you can expand into other areas. But just starting out, stick to one business model and build that model.

Cheers,
Ram
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Old 09-24-2008, 11:49 AM   #21
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Default Re: What to do with 1000 dollars profit?

Estimate your cash flow for two scenarios: 1) paying down $1000 on any interest bearing debt you have, 2) ROI on investing $1000 in your business or other possibilities.

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Old 09-24-2008, 12:16 PM   #22
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Default Re: What to do with 1000 dollars profit?

Re-invest and make more money, don't spend it on anything else cept your business, well you could buy 1 cheeseburger, that will be ok ..only this time! lol

" You can either give a man a fish and feed him for a day OR teach him how to catch a fish and it will feed him for a lifetime"
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