If you’re ready to launch your new business or you’ve been in one for some time, you know how important it is to have a marketing budget, or at least you should. This is something many new online entrepreneurs don’t anticipate, that spending money on marketing – and other items – on a regular basis is a key component in growing your business.
But what if you don’t have monthly funds to put towards your business? Truth is, you don’t need a lot but you should allocate something, whatever you can afford.
If you are in a bind and feel you can’t allocate funds because you’re already drowning in debt then you need to tackle that issue first. It wasn’t that long ago when I was well over $50,000 in credit card debt, had a six figure mortgage and was at the crossroads of deciding if I should pay the mortgage or buy basic necessities for my family. In 2003 I lost my life savings in a bad investment deal. I don’t need to tell you that was not a fun place to be in life.
Where am I now? I’m debt-free and it is so incredibly liberating. This is not to be confused with being financially free, I’m not there – yet. I live in a modest home and live within my means but we’re comfortable enough that I can put a little away and take the family on a holiday should I choose to. Did I get lucky with the timing of the real estate market? Hell ya but I was already diligently focused on paying off my debts first.
If you’re struggling in debt take heart, there is a way out! The first step is to take a deep breath, knowing it’s an issue that must be resolved and FOCUS. Unrelenting focus on paying off the highest interest rate credit card first. If you can borrow from a line of credit or a lower interest rate card, my advice is to do that and use those funds to pay off the highest interest rate card. When you’ve accomplished that, throw that high interest rate card out then rinse and repeat.
This piece wasn’t designed to be a money management blog but it is about being smart with your money, as they say, a penny saved is a penny earned. If you’re in an online business, have limited funds and you don’t have an autoresponder, you know you need one, this is a MUST have tool regardless of what you’re selling.
As you’ve read in another blog post here, it takes more than 8 touches before your prospect will act. It’s not realistic to think all your prospects will buy the first time you speak with them. You need to keep in touch and there are great autoresponders out there that do that. I’ve used most of the big ones, Aweber, Infusionsoft, Constant Contact, Mail Chimp and they’re all great. The catch is your monthly fees increase the bigger your subscriber list grows. When you’re starting out, you don’t have that luxury of unlimited funds to put back into your business.
The autoresponder I’ve been using for well over a year is no frills but doesn’t compromise quality, yet at the same time you don’t pay monthly fees as your subscriber base grows. You pay once then you own it. Forever. Unlimited email campaigns for any industry, product or service. I know the creator of the software Phil Eugene too and he’s been very helpful. You can check out Rapid Response here.