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Online Business Budget Ideas

In this post, I will share with you my online business budget strategy. Every successful business needs a budget, and an online business is no exception.

In this post you are going to learn the two most important resources in any business (hint: money is just one of them, and probably the less important one), and get some tips how to maintain a successful online business budget.

A lot of conventional businesses require a large investment of money to start, carrying a lot of risks to the business owner. Take restaurants for example.

online business budget

Benefit of an Online Business Budget:

- You can start small: You can earn while you learn. Build your business gradually while you learn the necessary skills.

Disadvantage of Online Business Budget

- You can start small! (Surprise: same as the advantage…) When you don’t pay money, you don’t take things seriously. If you took a 100K loan to build a million dollar restaurant business, you will take it very seriously right? Well, the online business that you can start for free can be making you 7 figures a year for now, if you treat it the same way.

 

That being said, A lot of people, prefer to start with zero to a very small online business budget.

Why do they do that:

- There is so much information available for free! Why do you need to pay for something that you can find for free? Why do you need to pay for a tool that does what you can do for yourself?

- A lot of products cost a lot of money and they are practically a scam. Promising you to become rich in a click of a button! And when you buy it, you find out that it is a piece of crap, which simply doesn’t work.

 

To optimize your Online Business Budget, identify what is your most valuable resource

Money is one very important resource, no doubt about it. Time is another.

A lot of people start a home business part time. This means that in order to succeed one has to be very time-efficient.

If you have 10 hours a week to work on your business (which is the minimum in my opinion), and you watch a webinar for a full 2 hours, about a new super hot, amazing, some kind of magic tool, that you eventually decide not to use, you have completely wasted 20% of your most important resource: your time!

Continue reading to learn how to solve this problem.

 

Online business budget breakthrough tip: Free has a cost!

You sure can start an online business for free, but you will need a lot of patience and a lot of time until you will start seeing results.

The professional approach is to think about the online business as a proper business. Sit with yourself and decide what your monthly budget is going to be, and how many hours a week you can put into your business.

Decide that you are going to do it for the long term. Don’t “try”, because it is just as good as telling yourself that you are going to fail.

Make a smart business plan. When you make a plan, be realistic. Make sure that you will be able to handle it

Think what is more expensive to you, your time or your money? And this bring me to the final question:

 

How much does an hour of your time worth?

Put an hourly rate for the value of your time. For example, before I started my online business I was an engineer, so I know that my time worth at least $50/hour.

At the beginning, I used to think for hours before I bought a product that costs even as low as $10.

Then, when I prepared my online business budget and I took into the consideration the value of my time, I understood that I was losing money, because I got paralyzed whenever I needed to take out my credit card.

The hours that I was wasting thinking about whether or not to buy the damn product, were more expensive than the product itself!

In that case, what is more logical thing to do, is to buy the product first, and then see whether or not it is of any value to me. Most good products have a 30 money back guarantee or a trial period anyway! so there is no real risk!

So how much money are you losing because you are paralyzed whenever you need to make a purchase of a product online?

Including the value of my time in the price of product is another way that mentally helped me achieve faster decisions in my business. If a tool like TweetAdder, which helps me automate my twitter, saves me 30 minutes every day, this means that actually it saves me $25 in my business every day.

 

 

How To Save time & money from your 2012 budget

Are you happy with your results? If you aren’t, this tool can save you a lot of time, and make you a lot of money in the process.

Inside MLSP there are hours of trainings, that can make your business quantum leap in 2012. I am saying this from my own experience.

Join my MLSP team, and I will show you exactly how I incorporate MLSP into my own business to get me the results that I am getting with it.

Check the following video to see what you get when you join MLSP:

 

It cost only $10 for a 2 weeks trial. The trainings that I am going to show inside the system can make you literally thousands, and just think of the time that you will save looking for the same information.

When you join me, I will help you set it up. As I said before, my time alone worth $50 an hour, so think how much you benefit.

=> Click Here start your MLSP test drive right now! <=

 

To your success,

Best regards,

Hezi
hezi hershkovitz
Join me on my Facebook Page: Hezi on Facebook
Follow me on Twitter: Hezi on Twitter.
Skype: hezi.h

 

PS: If You Still Do Not Have a Step-By-Step Blueprint For Success, Check This Out (Unless You Already Have Too Many Leads) – Click Here For Instant Access

 

Image: Keerati / FreeDigitalPhotos.net

 

Hezi Hershkovitz

Networker & Social Media Expert at SuccessHowTo
Onine marketer, social media expert, and all around great guy. Hezi coachs people on internet marketing and on how to make money from home.

9 Responses to Online Business Budget Ideas

  1. Jacob
    Twitter:
    says:

    Paid strategies are faster. But doing free strategies will give you results. You just have to stick with it. It is free so wait. Great post!
    Jacob recently posted..Why You Need A Article Marketing StrategyMy Profile

    • Hezi says:

      Hi Jacob. Thanks for your comment. As I said in the post, nothing in life is actually free, and time has a cost too. It is perfectly fine to start your online business for free. In addition, newbies should be very careful when they do pay-per-click advertising since this can cause them to lose a lot of money fast!
      In the long run, once your business start generating money, you should definitely start looking for ways to shorten the way for your success, and this using involves paying money for tools or for generating traffic.

  2. Elena says:

    Now that I’m thinking, you’re right: the more money I spend for my business, the more seriously I take it. I don’t believe in easy money and getting rich very fast, so I don’t even bother reading those offers; I can’t afford wasting my time.
    Elena recently posted..Too Busy for School? Get your CNA License OnlineMy Profile

    • Hezi says:

      I said it, but I can’t take the credit for it. I heard this somewhere, but can’t remember where.
      You need to be very careful not to miss good opportunities just because they use cheesy slogans in their marketing. Finding a good product, tool, or opportunity is an art these days. I think that it worth a new post by itself :)

  3. Hello Hezi! You have me thinking about online budget ideas. I, like many others get lost in the marketing, blogging, etc. part of our business. Reading this makes me think that I need to actually see the money part of what’s going on. I know it is time for me to get some help in my business, but trying to decide what part of it to farm out.
    I’m not a network marketer per se, but rather a marketing coach. It is important for me to keep up to date on every aspect of marketing to help people achieve their goals.
    That being said, this is a wonderful tool for my Network marketers to use. I will surely pass this on (from you of course lol)
    Blessings,
    Donna
    Donna Merrill recently posted..No Blog Comments? Don’t CryMy Profile

    • Hezi says:

      Great! Then I have fulfilled my mission with this post if there is one person that is going to rethink its strategy and change it because of it (hopefully for the better..lol).
      The great thing about MLSP is that it forms a community of online marketers that helps one another to promote each other business in the internet. I would be happy to collaborate with and one that you send my way.

  4. Nika says:

    Thanks for sharing your ideas Hezi! I totally agree with you, starting gradually while learning would be best if starting off. I am now on my 6 month as a blogger, and I’m making my first time as a blogger a success so I want to learn more and move gradually. Thanks! :)

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