Are You Spending Too Much or Not Enough Money on Your Online Business?
The truth of the matter is that the opposite holds true. While setting up an online business requires a much lower investment as compared to a brick and mortar store, you’ll still need to spend money to get your business off the ground.
Notice the word ‘business’ in the term ‘online business?’ – That’s exactly what it is. It’s a business and you will need to spend money on it. It’s called capital.
You’ll need to buy a domain. You’ll need to pay for hosting monthly and for an autoresponder to build your list of prospects. These are the basic but crucial fundamentals to setting up an online business.
If you try to skimp on costs here and build your web pages on someone else’s web property, you’ll be subject to their whims and fancies.
So, you absolutely want to invest in your own business and retain control over it. If you’re new to online marketing and funds are short, you may wish to provide services online and generate an income first before you start off on your online business.
There are freelance websites like Upwork.com and Fiverr.com that will give any newbie a chance to make some money online. Yes, you will be trading hours for dollars but you’ll be saving up capital for your own business.
On the flip side, there are beginner marketers who buy and invest in products and services that are way too costly for them. If you’re just starting off online, you do NOT need to pay for an entire year of hosting all at once. You can choose the monthly option and it will be less of a burden on you.
Another mistake is to assume that you need the most expensive tools to ensure your online success. One good example would be paying a hefty sum for services like ClickFunnels and Infusionsoft. Despite the fact that these are excellent services, you don’t need them to build a profitable online business when you’re starting off.
Another tip for newbies is to watch their expenses very closely and only spend on products that will take your business to greater heights. Do not keep splurging on ‘Make Money Online’ guides and software that make bold and unsubstantiated promises.
Thousands of people have spent a ton of money on rehashed and untested products that were nothing more than hype and empty promises. This industry, unfortunately, is awash with such products and they’re the norm rather than the exception. Caveat emptor is the rule here. Buyer beware.
If you want to grow your business online it is important that business owners understand the basics of writing a good advertisement.
All businesses need promotion. I have seen thousands and millions of dollars wasted on ineffective, poor or outright bad ads—and I want to save you that pain. But most importantly, I want you to expand your business and effective advertising in all its forms is essential.
After all, you need new customers because without them your business will fail. The good news is that the core principles of how to produce a proper advertisement apply to practically anything you may want to use as a promotional tool.
This includes, but is not limited to:
It can take a bit of trial and error (testing) to build an ad or ad campaign that really works, but following these 11 tried and true tips can help you get the results that you’re hoping for.
Track your online expenses like a hawk… and spend what you need to in order for your business to flourish. Wise spending is part of wise investing… and it is of paramount importance that you not be penny-wise and pound-foolish.
Facebook Advertising Optimization Tool
The Beginner’s Guide to Facebook Advertising
Writing by Massimo Chieruzzi