Prioritize YOUR MONEY for Online Business Growth - Next Steps for the Newbie.
For some of you who have begun to take action and have started to see some success.... it is important that you "Reinvest" in your online business.
This same principle applies for those who are just starting out!
There are many threads about how to get to the point of generating money so refer to them for those steps. This thread is designed to cover the basic Investments that you should consider to build the "Infrastructure" for your business.
My hope is that other Warriors will contribute some idea's of the monthly expenses a "Newbie" or Intermediate Person just starting out should be considering as they grow their business.
A key component to being successful in any business is to Manage your Revenues properly. This may seem basic...and a lot of it is. But you would be surprised how many people struggle with this. It is important to remember that this is a business. All of the top "Guru's" have a staff of people they pay....whether it is a "Virtual" relationship or Actual Employees. Deisgners, Managers, Support Centers, etc....
There is a lot more behind the scenes of making money than is portrayed at times....and is extremely important that when you are starting out you plan your Investment Strategies.
Now...this is the framework and should be tweaked and tailored to your business model. I do not make claims that this is the 'golden" rule but rather guidelines.
Most people who are starting out with Internet Marketing are looking to make additional money. It is safe to assume that not all have the available resources to pay for Banner Designs, Website Designs, Auto Responder subscriptions etc.
So....after you start generating some money you need to have mapped out the things that "You Have Learned you Need" and budget for them.
You also need to prioritize! On a piece of paper, or in a .doc file write out
the specifics
It has been my experience that those who begin to see some income start to immediately either Spend the money on something frivolous, buy another product they do not need, Spend it all on PPC etc. This form of management is non conducive to your objective of becoming successful online.
If you have gotten to the point of seeing some revenue.....no matter what the amount is....you need to focus on "HOW" you got to that point. Next You need to focus on "HOW" you can increase your efficiency and bottom line results.
Success in it's smallest form means that you are doing something right. Don;t blow the success (money) on other things that you DO NOT NEED.
Plan out your 'Next Steps", Develop a bugdet and Come up with an "Investment Strategy" for your online business. Most offline businesses do not see a "Net" profit in their first year....as they have a considerable amount of debt and liabilities.
Internet Marketing can eliminate that factor and catapolt you to levels you have only dreamed of. The "ACTION" of Internet Marketing is in the "Planning" and the "Planning" needs to include your budgets.
If you have planned properly....you will know that the next thing you need is an "AutoResponder" (remember this is depending on your model). You also know that an Autoresponder memebership is $27.00 per month (or what ever). This equals $324.00
So, if you are generating money and moving up the latter....when you make your first $324 dollars you should "Ear Mark" it for your autoresponder. -Or $162.00 for 6 months.
DO NOT BE TEMPTED TO SPEND IT ON SOMETHING YOU DO NOT NEED
In this thread....it is assumed that you have already spent money on products to get you to the point of making money....so no need to spend more money on more products...that you now do not need.
By "Ear Markting" money for the specific things YOU NEED TO GROW your business....you will see your business start running more efficiently, grow faster and generate more revenue.
You have to build the steps to the Mansion before you can live in the Mansion.
Fellow Warriors, what do you consider the essential "Infrastructurial" compents for your online business....
Sean
This same principle applies for those who are just starting out!
There are many threads about how to get to the point of generating money so refer to them for those steps. This thread is designed to cover the basic Investments that you should consider to build the "Infrastructure" for your business.
My hope is that other Warriors will contribute some idea's of the monthly expenses a "Newbie" or Intermediate Person just starting out should be considering as they grow their business.
A key component to being successful in any business is to Manage your Revenues properly. This may seem basic...and a lot of it is. But you would be surprised how many people struggle with this. It is important to remember that this is a business. All of the top "Guru's" have a staff of people they pay....whether it is a "Virtual" relationship or Actual Employees. Deisgners, Managers, Support Centers, etc....
There is a lot more behind the scenes of making money than is portrayed at times....and is extremely important that when you are starting out you plan your Investment Strategies.
Now...this is the framework and should be tweaked and tailored to your business model. I do not make claims that this is the 'golden" rule but rather guidelines.
Most people who are starting out with Internet Marketing are looking to make additional money. It is safe to assume that not all have the available resources to pay for Banner Designs, Website Designs, Auto Responder subscriptions etc.
So....after you start generating some money you need to have mapped out the things that "You Have Learned you Need" and budget for them.
You also need to prioritize! On a piece of paper, or in a .doc file write out
the specifics
- Website design $XXX
- Monthly Hosting $XXX
- Monthly Autoreponder subscription $XXX
- Continued Learning Education (CLE) (Investing in additional products for business growth)
- excetra
- A = Priority Critical
- B = Need but not Critical
- C = Needed but is more of a "Would Like to Have"
It has been my experience that those who begin to see some income start to immediately either Spend the money on something frivolous, buy another product they do not need, Spend it all on PPC etc. This form of management is non conducive to your objective of becoming successful online.
If you have gotten to the point of seeing some revenue.....no matter what the amount is....you need to focus on "HOW" you got to that point. Next You need to focus on "HOW" you can increase your efficiency and bottom line results.
Success in it's smallest form means that you are doing something right. Don;t blow the success (money) on other things that you DO NOT NEED.
Plan out your 'Next Steps", Develop a bugdet and Come up with an "Investment Strategy" for your online business. Most offline businesses do not see a "Net" profit in their first year....as they have a considerable amount of debt and liabilities.
Internet Marketing can eliminate that factor and catapolt you to levels you have only dreamed of. The "ACTION" of Internet Marketing is in the "Planning" and the "Planning" needs to include your budgets.
If you have planned properly....you will know that the next thing you need is an "AutoResponder" (remember this is depending on your model). You also know that an Autoresponder memebership is $27.00 per month (or what ever). This equals $324.00
So, if you are generating money and moving up the latter....when you make your first $324 dollars you should "Ear Mark" it for your autoresponder. -Or $162.00 for 6 months.
DO NOT BE TEMPTED TO SPEND IT ON SOMETHING YOU DO NOT NEED
In this thread....it is assumed that you have already spent money on products to get you to the point of making money....so no need to spend more money on more products...that you now do not need.
By "Ear Markting" money for the specific things YOU NEED TO GROW your business....you will see your business start running more efficiently, grow faster and generate more revenue.
You have to build the steps to the Mansion before you can live in the Mansion.
Fellow Warriors, what do you consider the essential "Infrastructurial" compents for your online business....
Sean
-
Peter Johnston -
Thanks
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