Tuesday, February 16, 2016

Keeping Your Online Biz Financially Afloat

How Do You Keep Your Online Home Biz Financially Afloat?

One reason most businesses fail, and I do mean most business, not just online businesses or home businesses is lack of money.

You may be feeling the financial crunch in your online home business as you are reading this article. Or, maybe it hasn't hit you yet.  In any case, it's time to start treating the finances of your business with the respect they deserve.

Let's face it, I'm going to state the obvious.  For ANY business to survive...

Money In MUST BE MORE than Money Out!

So, how do you make sure this is the case with your home business.

First, when you are getting started, you have to make sure you have at least a little bit of money set aside to invest in some advertising and a program or 2 to advertise.  These don't have to be large investments, but you will need money to invest.  Next, find ad sites that allow you to earn commission on referrals EVEN IF YOU DO NOT UPGRADE.  Once you start earning some commission, you can invest in some advertising upgrades which gives you more advertising power.

Finally, set a Monthly Budget based on what YOU CAN AFFORD to have going out each month even if you have nothing coming in.  Once you begin earning some cash with your advertising and program commissions, you can adjust your budget accordingly. DO NOT FALL PREY to folks trying to convince you to join every program that comes along.  Many try to make you feel guilty if you don't join.  This just wastes your precious financial resources.

To summarize:

  • Make sure you have some cash to get started
  • Start off with free ad sites that pay commissions to free members
  • Don't swing for the fences right from the start
  • Keep a budget and KNOW what you can afford
  • Use commissions to upgrade to increase your advertising power
  • Adjust your budget as your situation changes
This would be a good article for some conversation!!!

To your success,

Bob Swetz

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