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Your budgets?

by arshavin
1 replies
  • SEO
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Do you guys have a % of your income set aside for outsourcing and tools etc?

If so what is that %?
#budgets
  • Profile picture of the author TryBPO
    Originally Posted by arshavin View Post

    Do you guys have a % of your income set aside for outsourcing and tools etc?

    If so what is that %?
    We reinvest a large portion of our profits in new sites because the return is so great. However, we did do some profit taking lately and took a trip to Singapore and Bali. I know tough life right?

    Seriously though this brings up a good point on what poker players call bankroll management. You don't want to keep investing 100% of your returns because then you've spent so much money it would be tough to make it all back. At the same time, you can't expect to make much in the first 6 months unless you come out of pocket significantly or get very lucky.

    My suggestion is to take it slow, but reinvest close to 100% for the first 6 months. Then start to siphon off profit and make sure you are paid back in a reasonable time period. If your project is big enough it might even pay you enough to quit the J-O-B and start living on it exclusively. It takes some time to get there though, so be patient!
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