Free Online Training

My Secret Weapon

If you're building your business on your own then having access to other people to get help, bounce ideas off and who understand what you are doing is vital.

Here's my secret weapon and who I turn to for help... Click Here

Jan
17

Internet Marketing Businesses Still Need Cash flow

By

Running an Internet marketing, information-publishing business is absolutely no different to any other business in terms of the absolute golden rule you need to learn and preferably not the hard way – that rule – ‘Cash flow is King’. Don’t get seduced by the Internet marketing gurus “start this turn-key business with little of no cash and overnight you’ll be raking in $1,000s”. Wake up it’s just not reality. So before you kick off get at least  some ‘working capital’ behind you.

Discover why Cash is King

Unfortunately for Sam & I we did learn the hard way – Let me explain – its very easy to loose sight of monies going out against funds coming in and suddenly you can end up with a real nightmare of a problem, believe me it happened to Sam & I.

Those of you who have read some of our blog entries will know we have developed a bit of a property portfolio over the last few years.

Our Personal ‘Reality’ Check

In the early days we were actively buying more properties as fast as we could, but of course to do that we had buying expenses going out – solicitors, surveys, deposits and then repairs to ensure the properties were letable, so plenty going out.

Added to that if it took time for the agent to get a tenant, we’d have mortgage payments to make.

Then to really complicate matters our agent started to delay rent payments, then the odd ‘bounced’ cheque, then not returning phone calls – you know where this is going don’t you – yep suddenly they did answer the phone and tell me they are going bust!

So overnight we’ve paid out all this money in buying costs and what we had anticipated was coming in ‘wasn’t’ – I tell you it focuses the mind. Yes we got over it-thank God for credit cards – but it’s a lesson I’ve never forgotten.

Get a Crash Course Now

Talk to any businessman or women and they’ll all tell you companies don’t go bust and close down because they don’t make much of a profit its because they run out of cash! I.e. their cash flow dries up. So you might as well get a crash course in this Now!

Understand the Business Opportunity of an Online Business

When it comes to Internet marketing, as a business there’s two really big advantages over many traditional business models

– 1} the cost base to run this kind of business can be very low especially at the outset, buy a domain, get some hosting and an auto responder account and if you want to sell your own created products in cost terms you’re done – how cheap is that.

-2} the margins are terrific especially if you are selling downloadable products. Even physical products sold through internet marketing offer very low production costs and can providing the information is high quality & in demand command a worthwhile ticket price that returns high margins.

But as you grow and with time demands software needs grow, outsourcing becomes necessary slowly but surely your operating costs will rise – that’s fine providing you have a tight rein on your ‘ins & outs’

My top tip – keep a monthly ‘in & out’ spreadsheet on your desktop, Excel is fine and keep it updated frequently – we do ours weekly, then before the end of the month I reconcile it to a} see what we have made or lost and b} make sure there’s enough in the bank account for the next months outgoings – this way you are always working ahead and have a month in hand – that’s comfort, and lets us sleep at night!

This way it keeps the Bank Manager happy, your Accountant and provides you with a really simple ‘hands on’ tool which means you always have your finger on the button and acts as an important motivational tool to spur you on to bigger and greater profits in your internet marketing business and any other online or offline money making activity you pursue.

 Sam & Toby

PS. Plus start your education for FREE !

Have you downloaded my special report yet?

“The Secrets to Starting Your Own Internet Business Today”.

It’s a simple step-by-step, easy to follow guide that gives you hardcore advice to getting started in Internet Marketing. Help yourself now, go get it & start learning

Share

Comments

  1. Sharleena says:

    There’s nothing like the relief of finding what you’re looking for.

  2. Jane says:

    I’m out of league here. Too much brain power on display!

Leave a Reply

*