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You DON'T Have To Spend Money For Everything

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Offline andrewwilson

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You DON'T Have To Spend Money For Everything
« on: August 07, 2013, 08:31:50 AM »
When we are starting out our online businesses, for most of us, cash is tight. I know it is for me and I have been at this for donkey's years.

Every day we get bombarded with emails about this week's new shiny shiny and very often it is TODAY'S shiny shiny.

You know what I mean, the 'Your WordPress will explode if you don't buy this!' or 'Buy this and watch your traffic explode' or 'Live the Internet dream by just paying me $xxx.95 for my revolutionary system'.

If you are like me you have spent waaay more than you need to because you got hypnotised.
Well, here's a couple of tricks that will reduce your spending and target it much better!

1) WRITE (don't imagine) a business plan. Tell yourself and your stakeholders - family, friends, bank - what you are going to do, how you are going to do it and when you are going to do it. There's lots to business planning but it need only be a simple thing to get started.

2) When you have your business plan, every time you are tempted to spend any money go to your business plan and ask yourself, in the context of the business plan if the purchase will advance you toward your goals. If the answer is YES then ask another question: how long will this thing take to pay itself off? If the answer is more than a week or two then, in the beginning you can probably afford to pass on the goody. If the goody is any good it will be around when you NEED it.

3) If you feel tempted to buy a tool then before doing the easy thing and hitting the PayPal button do your due diligence. Go looking for a free or very cheap alternative.
For example, today I KNOW that a bloke has chucked away almost $40 on a piece of software that he could substitute with better for free just by searching on WordPress.org

The other day I bought a research tool, it works well, but guess what, I found a freebie that does even more. I don't go round seeking refunds all the time and because I bought in good faith I will not refund. I kicked myself though because I spent, needlessly, enough money for a meal for two at my favourite beach restaurant near where I live.

Here's my favourite places for freebies:
1) Google - first call, every call!
2) For themes and plugins for my WordPress sites: www.wordpress.org
3) For info about 'stuff' look to forums. www.warriorforum.com gets a knocking and the noise level has increased but it is still a useful jumping off point and some very worthwhile posters there. This forum: www.jlforums.com is sometimes a little quiet but has plenty of useful info (but you don't have to buy EVERYTHING!

Sometimes buying stuff lets us feel in control, but let me tell you what feels better:
Setting yourself a target for profit, attaining it and treating yourself. Maybe it is just that nice night out in a nice restaurant, maybe, as was the case for me, it was a three week trip to Brazil staying in an apartment with its own little swimming pool and a view out over the Copacabana beach and sea.

Every penny spent that does not serve your business goals takes you one penny further away from your personal goals!

Oh, yeah, if you really want to spend money click HERE and we can work together on making a business out of a hobby!

Remember your business will not fail because of technical stuff you did not know.
Your business will fail because of BUSINESS stuff you did not know!
« Last Edit: August 07, 2013, 10:03:13 AM by andrewwilson »

Offline Meg

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Re: You DON'T Have To Spend Money For Everything
« Reply #1 on: August 07, 2013, 09:31:39 AM »
Very good points, Andrew. Business plns are boring - but they are much more necessary than the next Big Shiny Object (BSO)!

Re: You DON'T Have To Spend Money For Everything
« Reply #2 on: August 07, 2013, 01:15:54 PM »
I'd like to emphasize that a business plan is an absolute necessity -- you'll be asked for one if your home-based business is ever audited (http://info-link.co/HBH/tax-issues/top-two-home-business-irs-audit-targets/)! :o

Offline andrewwilson

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Re: You DON'T Have To Spend Money For Everything
« Reply #3 on: August 07, 2013, 01:30:09 PM »
I'd like to emphasize that a business plan is an absolute necessity -- you'll be asked for one if your home-based business is ever audited (http://info-link.co/HBH/tax-issues/top-two-home-business-irs-audit-targets/)! :o


Where I live that is not the case but there are always several stakeholders in the business planning process. When I used to work with people on formal business planning we used to prepare several versions for different groups (banks, accountant, employees, directors, management, press). In this case though a much less formal approach is a good starting point. I don't know what level is required by US tax authorities.

The thing is though, without a business plan most businesses will fail.

Re: You DON'T Have To Spend Money For Everything
« Reply #4 on: August 19, 2013, 03:06:21 AM »
Good points buddy. I almost agree with you because some time they really make it bore and some time even make it more hard thing to do. But still the importance of planing can not be denied.


« Last Edit: January 29, 2014, 12:10:43 AM by Eliot Proud »

Offline andrewwilson

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Re: You DON'T Have To Spend Money For Everything
« Reply #5 on: August 28, 2013, 10:50:59 AM »
Clin, it is great that you are posting so rapidly to spread your forum sigs around the boards but you might want to read the posts before posting (unless of course these are just 'bot postings based upon keywords. )

Re: You DON'T Have To Spend Money For Everything
« Reply #6 on: August 30, 2013, 05:58:08 AM »
I don't think they're bot postings.

We are getting a lot of people just posting rubbish to get a link and
also tons of bots posting in the advanced features. Hard to keep up sometimes.

This forum is becoming a haven for spammers and bots.

Warriors went the same way. Back in 2001 when Allen Says ran warriors
it was brilliant then, gradually, it just became a platform for people to sell BSOs (Bright Shiny Objects)

Other forums have gone the same way. I think most of the decent forums
are private now to keep out the spammers and bots.

The problem is that this forum really has to stay public because of the help
and support for the users of Jons' products.

Just a bit of a rant
Eliot