Budgeting For Your Online Business

What we are going to​ recommend here is​ a​ methodology for those who plan to​ establish their online business with a​ limited budget.

One of​ the​ most important factors for being successful in​ online business,​ or​ any business for that matter,​ is​ budget control regardless of​ how big or​ small your budget is.

First we need to​ define what the​ meaning of​ limited budget is. First,​ you​ need to​ believe in​ your heart that it​ is​ impossible to​ start and run an​ online business for free. Do not believe anybody who tells you​ otherwise.

The second rule is​ you​ need to​ budget at​ least $200 for marketing and administrative costs. to​ give you​ an​ idea of​ what these costs might be here are few examples:

1- Administrative Cost Items:

a. Internet Connection
b. Hosting Service for your website (If you​ have one)
c. Phone Bill.
d. Electricity
e. Credit Card Charges
f. Post and Courier (If applicable)

2- Marketing Costs (Depending on​ your general Strategy)

a. Software Programs
b. Traffic Generation Services
c. Offline Advertising
d. Pay Per Click
e. Leads
f. Autoresponder Service
g. Any other Paid advertising Tactic

Now you​ can add on​ top of​ the​ above mentioned $200 any direct costs related to​ your business. Mainly this includes one or​ both of​ the​ following:

1- What you​ have to​ pay to​ stay in​ business including a​ monthly subscription if​ applicable.

2- Inventory of​ Products that you​ have to​ buy.

To be able to​ spend your budget wisely we recommend following these steps:

1- Do not start your online marketing activity by choosing paid options. in​ a​ previous article we detailed what are your free online marketing strategy tools. We will just list them here:

a. Submit your link(s) to​ directories and search engines.
b. Write and Submit articles to​ article directories
c. Reciprocal linking
d. Posting in​ active forums
e. Make your website content rich and dynamic
f. Blog and Ping.
g. Traffic Exchange Services

2- Buy software programs that will help you​ automate the​ processes of​ the​ above free online marketing options. Try not to​ opt for subscription based services. Make sure to​ have software programs that have a​ one time payment option.

3- After few months you​ will realize that you​ have a​ free amount in​ your budget that now you​ can use for paid online or​ offline marketing options.

Our final and sincere recommendation to​ you​ is​ not to​ get involved in​ any online business if​ you​ cannot spend a​ total of​ $300 - $500 per month.
Budgeting For Your Online Business Budgeting For Your Online Business Reviewed by Henda Yesti on July 18, 2018 Rating: 5

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