Day 16 – Income
Day 16 – Income
Show me the money !!
Hello and welcome back!
Alright today is the day we look at our return on investment.
The first thing we will do is look at how much money you have made so far on your first two sites (assuming they have both launched).
I like to make a spread sheet to write down which site has had how many sales. Then using that same spreadsheet write down the costs for each of those sites (hosting accounts, domain names, contracts, etc).
Next, account for how much time you have in each site, how much of your actual time you have put in and a realistic amount your time is worth.
Now, take those numbers and calculate how much you have spent compared to how much you have received.
For your first few sites don’t be discouraged if you lost money. Keep in mind that if maintained you will continue to make money off of these sites at least for a few more weeks depending on how long your plan was for.
It is very important to keep track of profit and loss statements; you always want to know where you are and where you are planning on going.
***Keep in mind that sites like Clickbank and many others have a refund police, usually 60 days, which is typically pretty high. For this reason I always recommend that you keep the money earned in those accounts until it rolls over before you take it out to ensure you will not have to pay it back if there are refunds.
Keep up the good work!
To Your Success!
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