Forums

Are you afraid to spend money?

Post a reply


Enter the code exactly as it appears. All letters are case insensitive, there is no zero.
   

Expand view Topic review: Are you afraid to spend money?

Re: Are you afraid to spend money?

Post by anthony2313 on Sun Apr 15, 2012 1:23 pm

I agree you should never be afraid of spending money
on your business. I love spending money on paid marketing.
Alot of marketers are afraid of spending money because
the fear of lost or if they spend some money on a ad
and if it doesn't convert they get discourage.

They avoid paid marketing and look for free but then there's
another problem. Free takes time and I've seen most just don't
have patience with free methods!

With me spending money on traffic for me is the fastest way to
grow my business and for testing.

Re: Are you afraid to spend money?

Post by Saqib on Sun Apr 08, 2012 4:42 am

The way I see it Chris, is that if you want to make money, you have to spend money. Now granted, that is not ALWAYS the case, but for 95% of the time it is..

Re: Are you afraid to spend money?

Post by harryfassett on Sat Apr 07, 2012 5:53 pm

I have a monthly marketing budget for online and offline marketing (including products for samples and offline sales), between $500.00 - $750.00 a month.

This includes professional online marketing tools, fully hosted blog, memberships with sites like this one BN, and I do quite a bit of local offline marketing as well, because I live in a the SFV North of downtown Los Angeles where there are so many people, that I would be crazy not too.

Not to say that one should do offline marketing if they are in a bodunk town in OH or somewhere, but I have the advantage over someone like that, offline for obvious reasons (location being key online and offline), and you have to use every advantage against competition as you can.

Anyway, the bottom line is, I see my business as an investment, that is building as I go (BV volume is stacking up every month underneath me), and the higher I go qualification wise, the more I make off the wholesale volume below me.

Not including stock earned from the company, and other bonuses that are paid, because there are eight ways to get paid as a Distributor for the Company I am earning ownership in, and those that are top producers earn the most, just like any other business.

With that said, one last thought. I have been online since 1995 marketing products and services and have made a ton of money over the years (if I gave you a figure here, you probably wouldn't believe me so why bother right, right), and have done the "nickel and dime" programs, and all that. Plus higher price point Network Marketing Co's where you maintain at least $100.00 - $120.00 or more in autoship every month to qualify for all commissions and get paid on all levels like I'm doing now. And...

The whole time I've been online, I've never seen one "nickel and dime" program survive let alone make anybody any substantial amount of money over the long term (nickel and dime meaning a $30.00 program or less a month), and the programs that do survive, I still don't see anybody making a full time living with them.

So that should tell you a lot and if not, then you didn't learn something today, and keep on doing what you are doing and getting pretty much the same nickel and dime results, because you must have an extremely "high volume" of sales in the nickel and dime realm, and that's extremely difficult for most who are by most standards, amateur marketers or novice at best, and don't have the resources to get to the next level.

Because making sales online or offline for that matter is "hard work" even for the professionals and it's not a game of socializing and patting everybody on the back and giving high fives (or "nicing people to death as I like to say) or whatever. It's about eventually getting down and rolling up one's sleaves and getting some good old fashion business done after all the relationship marketing is done between the two parties.

The quicker the relationship is built, and the quicker one gets the relationship to a business relationship level where real business and monies are exchanging hands, the better. I see way too many people online on social media sites spending hours upon hours, and even days and months with little or nothing to show for it monetary wise, and are doing a lot of busy work but making little or no sales (afraid of the phone syndrome I call it), so what's the point of it all?

Those people must have someone else paying the bills for them because if it's urgent, then they won't be so laid back about it so to speak, because as "Mary Kay" used to say, "In business, you must always have a sense of urgency about everything."

Also as one of my favorites Randy Gage said (somewhat paraphrased here, but the point is crystal clear), "People are too busy reading attraction marketing books like the secret for the 44th time and never getting around to doing some real work to make real sales, and are still expecting the Mercedes to just magically appear in their driveway.

With that, enough said, and happy Easter to all, and God Bless! HF

Re: Are you afraid to spend money?

Post by ChuckHolmes on Fri Apr 06, 2012 5:42 pm

Spending money to grow your business is fine. I do it all the time. But, I measure my results by return on investment, not by how much I spent to do somethng. Being willing to spend lots of money to grow a business, without producing good results, is stupid, and is no sign of being committed. I also agree that action is important.

Re: Are you afraid to spend money?

Post by Prostarprofits on Fri Apr 06, 2012 9:49 am

ChuckHolmes wrote:The only thing that matters is return on investment. How much or how little you spend on advertising (in time or money) is completely irrelevant. Instead, track and evaluate the results you get from advertising and then determine what your best course of action is. Cheaper is seldom better. And more expensive doesn't mean better either. You have to test and track.


Many people say they are committed to growing their business but they show how committed they are by their pocket book and their actions =)

Re: Are you afraid to spend money?

Post by ChuckHolmes on Thu Apr 05, 2012 3:01 pm

The only thing that matters is return on investment. How much or how little you spend on advertising (in time or money) is completely irrelevant. Instead, track and evaluate the results you get from advertising and then determine what your best course of action is. Cheaper is seldom better. And more expensive doesn't mean better either. You have to test and track.

Re: Are you afraid to spend money?

Post by realdealwill on Thu Apr 05, 2012 9:50 am

Spending money with regards to building a business, especially online, it is going to cost you one way or another either in time by going the free route or money going the paid route.

Geoff Stephens company, Global NPN, has a low entry cost, $10.75 and yet it offers some great earnings potential as you progress in the marketing plan. ;)

Are you afraid to spend money?

Post by Prostarprofits on Thu Apr 05, 2012 9:18 am

Rich Dad Poor Dad say if you are cheap how can you expect to get rich. Today in MLM there are a lot of low end companies I have talked to people who have joined low end companies and asked them how much money they made $0.

Where when they join bigger ticket companies in the past they have made some money.

I talked to a girl yesterday whos company coasts her $50 to get in how much do you think she can make out of $50 buck the company needs to make money plus her upline needs to make money.

There is also a lot of talk about free advertising it is only FREE if you consider your time as worthless. I have talked to many people in MLM who started out using traffic exchanges all these people are there because they don’t want to spend money on advertising so do you REALLY think they are going to find the money to buy your products.

I am not saying you need to spend a lot I had a lady from Texas who spend $15 on a banner ad she made $30 total I then told her to re-invest her money. She took that $30 and turned it into $60, and turned it into $90 with in 4 weeks.

Top

cron