Exactly. I’m a bit embarrassed to admit actually ... my running costs are about $100 a month
and that’s it ... just autoresponders and hosting and that’s pretty much me.
That’s great.
I needed a bit more of course at the start for getting set up with a processor and all that but
once you sort of get the ball rolling as you say it’s very low running costs.
It is, it’s a very, very low overhead cost compared to what you make. My overhead costs are high,
only because -- firstly I’m trying to go for the million plus dollar a year income.
I can only imagine the sort of bandwidth you’re hitting.
Exactly. So it’s going to take me some money to put back in the business -- my rule is to invest 50%
of all your net profits back into your business for advertising and if you do that your business will
plateau at a certain level and after a six to eight month period it will break to the next level. If you
keep investing 50% of your profits. That’s my rule.
Now I’ve been going over that lately but I’m about to break through a major plateau in my business
where it’s going to go from $30,000 a month to well over $100,000 a month within four or five
months hopefully.
Not to be rude to ask -- are you talking about gross revenue or profit.
I’m talking about net revenue. If I was to give you my gross revenue it would probably be four or five
hundred thousand a month in a very short time. But I’m talking about revenue that I actually can
take and put in a bank if I wanted to.
Well of course that’s not going to happen because my 50% rule tells me I’m going to take 50% of
that and put it back in the business. And I don’t have any intention of having money sit in the bank.
I think that’s where most people get it wrong -- they think "Money in the bank is where it’s at". I don’t
really think so because the more money you put out the more income streams you’ll have coming in
... the more diversified you are. It’s kind of like a portfolio.
I would rather make a million dollars a month and make $100,000 a month per company, than a
million dollars a month through one company, because if one of those companies goes I’ve only lost
one tenth of my income.
And what I’d really rather do is make ten thousand a month with a hundred companies down the
road. Because each of them takes a minimum time management once they start, and most of them
run completely on autopilot, and all you have to do is fill out like a tax form at the end of the year.
So when you say advertise are you talking about mainly online advertising or offline as well.
I’m basically talking about online advertising. I don’t do any offline marketing at all. I’m completely
an online marketer. I’ve tried the offline, and I know there’s some people like
Melvin Powers
that are
great at it and some other gurus like
Jay Abraham
but in all honesty it never worked for me. So I’m
totally online right now.
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