💰How to make a budget – Business Budget Template
Have you been trying to figure out this budget thing and you’re trying to start an online business? In this video, I’m going to go over two of the types of a business budget that you have to set up and how you can do it.
So many people want to start an online business but they don’t plan it out correctly. What we’re going to talk about in this video is how to plan it out. When I got started my business, I didn’t have a lot of money and if you don’t have a lot of money, you got to put in the time. When we talk about budget there are two things that you need to budget.
✅1. MONEY ✅2. TIME
Both of these things always need to be balanced. When people actually invest the money as opposed to time, they don’t learn things. It takes an investment of time and money. Once you decide that you’re going to spend x number of dollars and you have money, you got to stick with.
✅03:15 SET AN AMOUNT OF MONEY FOR ADVERTISING
Advertising is a funny thing online. It’s a whole lot different than it is with newspaper or tv but it’s a whole lot better. If you were to run an ad in the newspaper, you’re not going to even really know if that ad worked or not right away. You’re never going to know what your advertising dollars bought you but if you’re advertising online it’s pretty easy.
✅09:57 DON’T QUIT
Keep trying different products and keep trying different things. No matter what you’re going to work on you have to go out there and look if there’s a market. Find out who’s selling in that market and they’ve been in business and doing it.
✅11:08 DON’T SPEND MONEY YOU CAN’T AFFORD TO SPEND
Don’t spend the money and if you don’t have any money to spend. Go out and earn more money. If you don’t have much money, you got to invest more time and if you’ve got a lot of money you can invest less time but it’s time or money. Those are the two things that you’re going to have to budget from this point moving forward.
Give me a comment below. Let me know what you think of this video. If you have questions about selling online, feel free to ask by dropping your comment below. I’d love to answer all your questions.
