People ask me all the time what I actually spend (invest) my money in my business. Yes, a lot of marketers say to buy, buy, buy — but on what?
Since I just finished my taxes for last year, I thought it might be helpful if I shared where my money went. (Yes, I'll also share soon where it comes in from, too, but I'll save that for another day.) 🙂
This is where my money goes in my business… (I'll be updating this if I find more regular payments.)
I'll start with Recurring Payments for Tools that I Use.
I'm down to about 90 domains. (I used to be a domain junky, but am streamlining much better now.) Obviously that can get expensive, especially if you're adding any privacy or extras to each domain you register. I get a discount on my domains since I'm considered a high-end user, but still pay around $7/year.
- I use GoDaddy.
I have several hosting accounts. I don't like to have all of my eggs in any one basket.
- Mom Webs is where I refer people who are totally new to online business. I've been a customer – and am co-owner of Mom Webs and have been for years. They're used to handling support from scared new online business owners. Highly recommend.
- Host Gator is the other company I use. They're solid and I've been a customer of their for years, too. I like that they're a Green Hosting company.
You can't go wrong with either choice. 🙂
Your autoresponder will maintain your lists for you, and help you to actually earn cash when you need it.
- Aweber – The service I’ve used since 2005 to manage most of my newsletters, ecourses, and ezines. (If you get emails from me, they probably come through this list managing service.)
If you want to have affiliates promote your products then you'll need a shopping cart of some sort.
I use a few.
- 1ShoppingCart – this is the cart I use to run EasyPLR.com. It IS 1shoppingcart. Just a reseller name. I’ve had an account with since 2009 and love the flexibility.
- Clickbank – Clickbank’s Publisher Program. (This is the easiest option.)
Plus: Easy Click Mate – If you use clickbank, this is a really great tool to create an affiliate center. I use both for my YummyPLR.com site and my JustAddSweat.com site.
If you work with service providers, this tool can be very helpful to manage your team.
- Basecamp – Allows me to track projects and who is working on each one.
You NEED offsite computer backups if you're running a business. Backing up to CDs or DVDs or an external drive is not enough.
- Mozy – Keeps my computer (and therefore, my income) safe. (Try it free.)
Audio Recording for My Podcast & Storage.
I record all of my podcasts on the telephone. You can record using Skype, but I just prefer using the phone so I can walk around and handle things while I'm doing interviews. (Like letting the dogs out, checking on the kids, etc.
- Record Audio (the simple non-techie way) – Quick and easy way to record audio from your microphone or telephone and put it on your computer. No techie stuff involved. This is what I use to record my podcasts.
I don't have a separate business line yet, but will be soon. However, I did find super-cheap phone service that I've been using for a few months and I like it.
- My Phone Service. It's like Vonage but much (much) cheaper.
Here are the One-Time Payments for Software and Tools.
I highly recommend you use unique passwords for everything. Don't use the same password for your email as you do for Twitter and your autoresponder. I suggest using different ones for everything – and I personally do that. How? Glad you asked.
- Password Manager Program – Keeps track of all of my logins, usernames and passwords, so I don’t have to. (Try it free.)
Where Else Does My Money Go?
I'll oftentimes find a plugin or new piece of software that I'll grab to test it out. If I like it, you hear about it. If not, you don't. 🙂 (Most, you don't because it's just not worth the learning curve.)
I love to partner with other business owners who have strengths different than mine. In fact, I taught a course on the topic a few years ago. www.EasyPartnerships.com Good stuff.
So, I send money to my partners each month based upon our profits.
Of course, I pay my affiliates each month. That's a payment I'm thrilled to pay. It means I made more money than I would have alone!
I hire Virtual Assistants, Graphic Designers, and Writers for my business. And I have an Accountant. So, obviously I pay them each month.
I make more money EVERY single time I go to a live event, whether I'm speaking or just going there to hang out. Want to meet up with me? Here's where I'll be next. (Coming soon.)
I've started to advertise more. Obviously the goal of advertising is for it not to end up as an expense, but it does require initial output so I'll leave it in the expenses. 🙂
I'm always learning. (And, yes, I invest in courses, too.) One of my favorites right now is this Private Newsletter.
I hope that snapshot helps you get an idea of what I consider important in my business.
PS. Yes, of course, there are affiliate links in this list. 🙂