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$7 Secrets | Article #279 : MAKING A BUDGET

This is really something they should teach you in business school but some people never took that stuff on high school or college. So I’m going to give you a quick budgeting course right here and right now. I went to school for this stuff so I might as well put some of it to use.

Okay, you want to make money on the Internet and you’re just starting out. You have no product, no site, no nothing. That’s right, you’re starting from scratch. What do you do?

The first thing you have to do is sit down and honestly tell yourself how much money you can afford to initially invest in your business at the start. Whatever figure you come up with, you have to decide to stick with it.

Let’s for argument sake say that you only have $200 to invest in your business at the start. It’s not a fortune by any stretch of the imagination but it certainly is something. You can pick up a few decent things with $200. We are going to assume that you at least have a computer and Microsoft Word. You usually get some kind of text editor with a new computer. I think Word is pretty standard.

Okay, you have you computer your text editor and $200. The first thing you need to do is get on the Internet. I think Netzero will get you on for about $9.95 a month. Great, you’re connected to the Internet and you’ve still got $190.05 to spend.

Before you spend another dime, sit down and think about a product to create. It’s going to be a digital product. A PDF report will do just fine. You can do this with Word and a PDF maker. There are free ones out there. As a matter of fact, if you download Open Office, you can get a great PDF maker and a text editor along with a ton of other programs for free.

After you’ve created your product, you’re going to want to put up a sales page to sell it. If you know some HTML, there are some great HTML editors you can get for free. If not, you can buy a sales page template for about $50. You still have $140.05 left to spend.

After you finish creating your sales page, you need a domain and a web host. You can purchase a domain for $8 for the whole year and can get decent hosting for about $10 a month. You still have $122.05 left to spend.

After you get your site up the only thing left to do is promote it and make some sales.

First you want to get an autoresponder service to build your list. A good one is only about $20 a month. This leaves you $102.05 left to spend.

A lot of effective promotions like article writing and submitting to article directories are free. So try to write a few articles a day and submit them to article directories. You’ll start to see traffic to your site immediately.

Aside from that, go to forums and participate. Make your presence known. You still have $102.05 left to spend on advertising.

I would take that money, if you’re in a highly targeted and uncompetitive niche, and spend it on Adwords. Make your budget just $3 a day. You should get about 30 clicks a day on that budget and make 1 sale every 2 days or 15 sales a month just from Adwords alone. If you’re selling a $20 product, that’s a profit of $300 your first month just from Adwords sales. You’re already in the black your first month and now have more money to put into advertising next month.

It’s really simple when somebody shows you how to do it who’s been there.

I knew my finance background would come in handy for something.

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