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I decided to write this up because it might help you progress on your entrepreneur journey a little faster...or it might make you lose a lot of money that you never get back...
This is simply a reflection on my past experiences, and may not work for you...
The other week, I launched a course teaching the fundamentals of building an online business...and I received a lot of emails with questions/comments about my recommendations of using a paid service to do some market research. People were hesitant to spend $XX per month on something that might not be profitable.
This gave me a flashback of a year and a half ago, where I would have asked the same question...
I used to be terrified of paid advertising because I viewed it as losing money. Can I budget an extra $10 a day for this? Can I afford a $97 subscription service, or should I put it off until I save up more money?
I used to think like this, and looking back, it was something that slowed me down a lot.
As part of my current business, I pay (approximately):
Because I had all of this in place, I made $600 in sales yesterday, and $300 the day before.
I would have made nothing if I didn't take that leap (read disclaimer at end).
One of the mindset shifts I went through was from "afraid to spend/lose money" to viewing these things as an investment that helps me achieve my goals faster.
Think forward of your goals as an entrepreneur...many of us will be making 4....5, figures a day in the future, depending on the route we choose and the work we put in. When you reach this goal, could it be possible that you might look back and say "I wish I started taking more risks sooner".
I now view myself not spending money on ads or investing in my business, as LOSING money. How could my business turn a profit if it's not complete? I think we were all socially conditioned that paying money = spending money = I don't have it anymore....when I used to think I was doing myself a favor by keeping the cash in my bank account.
...or everything I did could couldn't have worked out as it did.
If I could do it all over again, I would have taken more risks sooner. But that's just me.
What are your thoughts on the topic from your experiences?
****I feel that this little post should come with a disclaimer. There is the flip side of the coin where I could have spent all this money, and lost all of it (which has happened in the past). I've seen people lose 5 figures on paid advertising campaigns, never to make it back. This is simply my reflection on my personal past experiences, my opinions, and may not be the best option for you. We are all responsible for our own choices that we make.
This is simply a reflection on my past experiences, and may not work for you...
The other week, I launched a course teaching the fundamentals of building an online business...and I received a lot of emails with questions/comments about my recommendations of using a paid service to do some market research. People were hesitant to spend $XX per month on something that might not be profitable.
This gave me a flashback of a year and a half ago, where I would have asked the same question...
I used to be terrified of paid advertising because I viewed it as losing money. Can I budget an extra $10 a day for this? Can I afford a $97 subscription service, or should I put it off until I save up more money?
I used to think like this, and looking back, it was something that slowed me down a lot.
As part of my current business, I pay (approximately):
- $67 a month for leadpages.
- $97 a month for marketing tools.
- $29 a month for email marketing.
- $65 for hosting.
- $60 a month for shopping cart software
- $60 for payment gateways and merchant accounts.
- +paid advertising campaigns that vary from day to day.
Because I had all of this in place, I made $600 in sales yesterday, and $300 the day before.
I would have made nothing if I didn't take that leap (read disclaimer at end).
One of the mindset shifts I went through was from "afraid to spend/lose money" to viewing these things as an investment that helps me achieve my goals faster.
Think forward of your goals as an entrepreneur...many of us will be making 4....5, figures a day in the future, depending on the route we choose and the work we put in. When you reach this goal, could it be possible that you might look back and say "I wish I started taking more risks sooner".
I now view myself not spending money on ads or investing in my business, as LOSING money. How could my business turn a profit if it's not complete? I think we were all socially conditioned that paying money = spending money = I don't have it anymore....when I used to think I was doing myself a favor by keeping the cash in my bank account.
...or everything I did could couldn't have worked out as it did.
If I could do it all over again, I would have taken more risks sooner. But that's just me.
What are your thoughts on the topic from your experiences?
****I feel that this little post should come with a disclaimer. There is the flip side of the coin where I could have spent all this money, and lost all of it (which has happened in the past). I've seen people lose 5 figures on paid advertising campaigns, never to make it back. This is simply my reflection on my personal past experiences, my opinions, and may not be the best option for you. We are all responsible for our own choices that we make.
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