What to do with 1000 dollars profit?

Profile picture of the author Jason Zalesky by Jason Zalesky Posted: 09/24/2008
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
#dollars #profit

  • Profile picture of the author Michael Shook
    Michael Shook
    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
  • Profile picture of the author Ben Roy
    Ben Roy
    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...
  • Profile picture of the author twistedpixel
    twistedpixel
    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!
  • Profile picture of the author Jason Zalesky
    Jason Zalesky
    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.

    Jason
  • Profile picture of the author traceye
    traceye
    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
  • Profile picture of the author Mike Bogowski
    Mike Bogowski
    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
  • Profile picture of the author DanGTD
    DanGTD
    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
  • Profile picture of the author Stanley Tang
    Stanley Tang
    Depends.

    If you're somebody like me, I'll spend it (since its only $1000)
  • Profile picture of the author rapidscc
    rapidscc
    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
  • Profile picture of the author pmore
    pmore
    You should stick half in a savings account. Then split the other half between reinvesting into your business and spending for fun.
  • Profile picture of the author Kyle Tully
    Kyle Tully
    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.
  • Profile picture of the author David Raybould
    David Raybould
    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
  • Profile picture of the author hebsgaard
    hebsgaard
    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.
  • Profile picture of the author alexshelton
    alexshelton
    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
  • Profile picture of the author abelacts
    abelacts
    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 ;-)
  • Profile picture of the author Justin Michie
    Justin Michie
    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.
  • Profile picture of the author Jason Zalesky
    Jason Zalesky
    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
  • Profile picture of the author ahuddy
    ahuddy
    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.
  • Profile picture of the author Ram
    Ram
    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
  • Profile picture of the author Ricter
    Ricter
    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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