Oh, the dreaded ‘B’ word! No, not THAT ‘B’ word I’m talking about the BUDGET ‘B’ word. The formula for determining profit is a really simple one and the one that all budgets are based upon. Income – Expenses = Profit.
It isn’t complicated and you don’t need to be a rocket scientist to figure out that there are two ways to improve your profit; (1) increase income or (2) decrease expenses. If you can figure out how to both simultaneously, please let me know how.
It would be really nice if we could just crank up the burners and make more money, wouldn’t it? Unfortunately increasing income is much harder than decreasing expenses when it comes to improving your bottom line.
Fortunately, working at home comes with some built in savings right up front. You don’t have to buy that expensive gasoline to get to and from work. You don’t have to keep your working wardrobe up to date.
You can eat a PBJ sandwich for lunch in your own kitchen. And all of these are good money-saving things that just come with the territory when you work at home.
There are, however, some other measures that you can take to help decrease your work at home expenses. Here are some money saving ideas:
You need to learn to read the statistics that are provided to you by search engines and gear your advertisements to only appear in search results under very controlled circumstances and only during specific hours. It isn’t hard to run up a PPC bill of several thousand dollars in a very short period of time and not make a single sale in the process.
The bottom line here is to remember the formula for determining profit; Income – Expenses = Profit.
It’s great to increase income when you can but you can always find ways to decrease expenses if you look for them. When you spend less, you make more and that will blow your competitors away!