You may be really surprised, after spending time in forum discussions related to internet business expenses, to find out just how few people know how much they are spending on their internet based home business.
By reviewing it from the standpoint of time and money let’s see if we can analyze the question how much do you spend or what does it cost to run your internet based business.
The Internet is a great leveler in that it does not discriminate against anyone when it comes to online business success. Regardless of what country they are from, what race they belong to, their sex, age or how much money they possess, you will find people making huge incomes online.
Available to everyone are the two constant factors of time and money. Outsourcing various functions is a way that those with more money than time build their home internet business. Those who have time on their hands and little money can still achieve success with their internet based business by investing their time in mastering internet marketing skills.
You will find that nowhere is this more apparent when it comes to website promotion and advertising. Targeted traffic is the life-blood of any internet business and without it you will never make money online – that is the bottom line with any internet based business.
You have the option of purchasing traffic in the form of pay per click. Although you are guaranteed to get website visitors at a fixed price, making a profit is not guaranteed.
Do not worry if you have no spare money to spend on promoting your site as you can invest your time in article marketing, blogging and forum posting, which are highly effective internet marketing methods.
Writing and submitting articles, known as Article Marketing, is a proven and highly effective way to build back links to your website and attract targeted traffic. This may not be the fastest way, but it is a long-term marketing strategy that can generate traffic for years to come.
Whether you invest a lot of time or spend money you should still calculate what it costs to run your home internet based business. You will become far more productive once you have calculated what your time is worth on an hourly rate and be sure to keep track of it on a weekly basis.
You can keep track of expenses by making a list of all your monthly expenses such as site hosting, domain name, marketing, advertising, autoresponder, article marketing costs, program upgrades, membership fees, any outsourced services, etc.
By keeping track of your hourly time rate and monthly business expenses, you will be able to know exactly what it costs to run your internet based business and be able to compare it to the income generated.
Source by Cynthia Minnaar