Net Worth, Accounting, Keeping Track of Your Money

by John S. Rhodes 0 replies
Every single month my brother and I review our accounts. We review our PayPal records,
Clickbank checks, affiliate checks, direct deposits, and more. We've been doing this since
we started working as partners about 2 years ago.

You might think this is "boring" or "tedious" but it's a blast. I chart out our profits. We first
add up all our revenue then we subtract out our expenses. This might seem so obvious but
many people aren't tracking their cash.

What's your monthly income from your online business? What are your key expenses? Are
refunds a problem? Do you need to spend more money building a list? Should you
advertise more? What affiliate products are pulling the most cash for you? What are the
trends? What can you expect 3, 6, or 12 months ahead?

If you're not tracking your money -- no matter how much you're making -- you're missing
out on gathering valuable business intelligence. Don't neglect the numbers. They tell you
so much about what you're doing right and what you're doing wrong. They can guide you
like nothing else -- profits don't lie.

We've been able to boost profits by 3-5% per month just by tweaking some of our business
models. The numbers make it pretty clear. "This is dumb, this is smart." It's all right there
for you to grab, for free.

~ John
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