You finally made the decision to start an online business. Yay! You get your blog up and you’re ready to start making money. But wait a minute…. You slowly to realize that you’re forking over lots of cash for service to run that business. You’ll need over $1,000 for webinar service, about $250 for an email subscription service, $120 a year for social media management, $300 or more for Leadpages and the list goes on and on. You begin to ask yourself, “Do I really have to spend money on all these services to run my online business?” Signing up for these services can easily cost you thousands of dollars per year. Well, right now you might be thinking to yourself, “There are lots of free services out there, Dr. Wilson!” Yes, that’s true. However, I am a firm believer that you get what you pay for. So today, I will discuss the essential paid services you need to run your online business.
I am speaking from experience here. This is something that I debate and struggle with on a regular basis. I run an online business and make money so I can contribute to my family. However, I need services that help me run my business more efficiently. Again, I can hear you saying, “But how much money do I have to put out?” Well, I have spent thousands if not more in email subscription services, social media management software and more. Plus I have spent thousands more on coaching and training courses to learn more about setting up and running a successful business. I shudder to think how much money I put out even before I turned a profit. I was making a lot of other businesses successful before I could get mine up and running properly.
How did I get all the money for services? All of my free or personal money went to services for my business. And if I didn’t have enough money, I’d ask (beg!) my husband for the money. It got to the point where he was just exasperated with me always asking for money for some service that would “explode” my business. I recognized I had to make some changes when it came to the money I spent on services. I purposed to pare down the services I was paying for by getting rid of the ones I didn’t need or use. I also realized that I paid for convenience and that I could actually do a lot of the services myself if I just carved out some time to do it. So I took a really hard a look at my needs, my budget and made some tough decisions.
One thing I decided to do was use money that I earned from my business to pay for services. For example, last year I created numerous websites for various small businesses. When I got paid for making those websites, I didn’t immediately go to H&M with that money – which is what I would have normally done! I put that money in my business account and use it to cover monthly and annual services I needed for my business. My goal each month is to generate more money than my services cost. If I have any extra money, I just reinvest that money back into my business. Now I know that seems intuitive and basic – because it is. I mean, I knew I should do that, but I wasn’t. I was just signing up for all these services even before I made any money.
3 Ways to Get Cash for Services your Business Needs:
- Use your own personal money initially to cover the costs of the services you need.
- Do a few small jobs first to use as seed money for your business expenses.
- Research the costs of different services. Is it cheaper to pay annually or month to month? Is this a service I can do myself to save money? Can I barter with someone else who offers a service I need to cut down on expenses?
The #1 Service EVERY Business Needs
But what services do you really need to run your online business? Well, I don’t know what type of business you run or know its specific needs. However, I know that EVERY business needs to collect email addresses of their customers. Why? Because every checks their email all day every day. And if someone gives you their email address, that means they want to hear more about your products, services, sales, events, coupons or whatever you have to offer. That’s powerful! Every entrepreneur should start collecting email addresses the first day that their blog is up and running. There’s a saying among internet marketers – The Money is on the List. Meaning, if you don’t have an email list, you won’t be making any money. So, do yourself a favor. If you really want to make money from your business, set up an email subscription service today. Personally, I use aweber to handle my email subscription services. I have used aweber for years and highly recommend them. If you want to try aweber out free for 30 days or learn more, just click HERE.
So what did you think of this blog post? How much money do you spend monthly on your business services? Leave me a comment below and let me know what type of business you run and what paid services are a must.