Here are two good advice that make perfect sense, taken separately:
1. Don’t spend more than you can afford !
2. Invest nothing (in your business, in yourself etc.), expect nothing or very little in return.
These rules apply in several industries, but let’s focus on online advertising.
So, the first rule says you should have a cap on your expenses to keep them from affecting your basic needs. The second one urges you to spend money to increase your profits. See the dilemma? What happens if you are on a tighter monthly budget? You need to find a balance between the two extremes.
The first thing you need to take into consideration when planning your online business budget is the recurring payments you have to do. They come month after month, and your budget absolutely has to cover these expenses. Then comes your advertising budget, your personal development/training budget, both very important as well for your business.
The bigger your monthly budget is, the more complex choices you can have.
You can also read about how successful marketers got to be… so successful. In fact, I think it’s a lot to learn from their experiences. Just remember this: success stories don’t necessarily guarantee your success, but they can inspire you, and you can find in there things you resonate with and can provide valuable insights.
Close to our topic, if you haven’t read it already, I urge you to read Jon Olson’s The Pizza Plan 2, which was revised for 2014. It’s written for a 75$ monthly budget and around a few core ever green products. If your budget is higher, it’s natural you can tweak it up.
You can find out why Jon made pizza, when he gave up his offline job and other interesting stuff. There are also a few cool bonuses in there, but I’ll let you find out yourself.
P.S.: Don’t forget to re-brand it with your affiliate links!