Afrikaans Afrikaans Albanian Albanian Amharic Amharic Arabic Arabic Armenian Armenian Azerbaijani Azerbaijani Basque Basque Belarusian Belarusian Bengali Bengali Bosnian Bosnian Bulgarian Bulgarian Catalan Catalan Cebuano Cebuano Chichewa Chichewa Chinese (Simplified) Chinese (Simplified) Chinese (Traditional) Chinese (Traditional) Corsican Corsican Croatian Croatian Czech Czech Danish Danish Dutch Dutch English English Esperanto Esperanto Estonian Estonian Filipino Filipino Finnish Finnish French French Frisian Frisian Galician Galician Georgian Georgian German German Greek Greek Gujarati Gujarati Haitian Creole Haitian Creole Hausa Hausa Hawaiian Hawaiian Hebrew Hebrew Hindi Hindi Hmong Hmong Hungarian Hungarian Icelandic Icelandic Igbo Igbo Indonesian Indonesian Irish Irish Italian Italian Japanese Japanese Javanese Javanese Kannada Kannada Kazakh Kazakh Khmer Khmer Korean Korean Kurdish (Kurmanji) Kurdish (Kurmanji) Kyrgyz Kyrgyz Lao Lao Latin Latin Latvian Latvian Lithuanian Lithuanian Luxembourgish Luxembourgish Macedonian Macedonian Malagasy Malagasy Malay Malay Malayalam Malayalam Maltese Maltese Maori Maori Marathi Marathi Mongolian Mongolian Myanmar (Burmese) Myanmar (Burmese) Nepali Nepali Norwegian Norwegian Pashto Pashto Persian Persian Polish Polish Portuguese Portuguese Punjabi Punjabi Romanian Romanian Russian Russian Samoan Samoan Scottish Gaelic Scottish Gaelic Serbian Serbian Sesotho Sesotho Shona Shona Sindhi Sindhi Sinhala Sinhala Slovak Slovak Slovenian Slovenian Somali Somali Spanish Spanish Sundanese Sundanese Swahili Swahili Swedish Swedish Tajik Tajik Tamil Tamil Telugu Telugu Thai Thai Turkish Turkish Ukrainian Ukrainian Urdu Urdu Uzbek Uzbek Vietnamese Vietnamese Welsh Welsh Xhosa Xhosa Yiddish Yiddish Yoruba Yoruba Zulu Zulu

 

 

Article Navigation

Back To Main Page

 

Click Here for more articles
Google
How to NOT go into big debt while building your online business!
by: Tal Fighel
Copyright 2004 Tal Fighel

Credit cards can be a great thing for the new online independent business owners who have just started their online venture. They are convenient, easy to use, and are very useful when it comes to taking those small baby steps that a newbie needs to start online.

Here are 5 basic and very important tools that any new person needs to start with:
1. Web hosting
2. Website name registration
3. Auto responder
4. Leads
5. Joining an affiliate program

Once everything is set up and completed, the excitement starts to build and they think about doing some advertising and making some money.

A few days pass. They reach for their credit card and start spending money on all those tempting juicy ads that promises them ‘sales soaring through the roof’ results, without having any idea what they are spending on. They have no plan in place. They never thought about setting a budget.

Once they max out 1 credit card, they are tempted to try other marketing things, which brings them to the point of applying for more cards or using their other cards that they posses.

How do I know this? Well, my story began 2 years ago, when I first started my online business venture. I would listen to everyone on how I should promote my current website of http://www.talfighel.com and the affiliate programs that I was and still am in. I went out and spent lots of money without planning my endeavor.

Solo ads, pay per click, buying leads, membership to this and that. The list goes on.....

To make a long story short, I have maxed out a few credit cards because I was stupid enough to spend money on advertisements without planning my budget. My biggest mistake was that I had no plan in place. I made that mistake, and I am very happy about it because now I can teach you not to make the same heart breaking mistakes.


So, don't spend money that isn't really yours. It is important to spend money that is yours and is within your budget.


You need to plan a monthly budget so that you know what your plan is and you don’t go over it. Remember, if you don’t draw yourself a monthly game plan, you can get tempted to spend on many things which can cause you to go into a hugh and never ending debt.

The problem with overspending your credit card or cards is that once you get behind, it can take so long to catch up. Knowing that you spent lots of money and you got into more debts, this can be very scary, frustrating, and can make you feel like quitting very fast.

Many people set a budget and stick to it. But somehow others don’t because they find it hard to ignore those juicy advertising words that lets them think that it will bring their efforts excellent or any results.

Now, I am not saying that a credit card is bad for you. You MUST know how to use it the smart way. If you use it the wrong way as I described above, it can mean the difference between success and failure.

So here are 4 easy steps that you can use right now so that you do go in the right direction with your online business, and you don’t go into BIG debts.

1. Here is a quote I use on a daily basis. “If you fail to plan, you plan to fail”. In other words, you should plan what you will be doing and what you are planning to spend each month. If you don’t have a plan, then you can lose a lot of money.

2. Know when to just say ‘NO’. It is tempting and easy to grab a credit card, enter your card number, and click on the “Pay Here” button. I know all about it. So set a monthly budget and stick to it. Period.

3. If your plan of action in advertising does not bring you the results that you were expecting, then revise or change that plan, but stick to your budget.

4. And finally, give your business time to grow and never give up no matter what.




About the author:
Tal Fighel is the editor and publisher of Home Business Tips Newsletter: http://www.talfighel.com/For more comprehensive and useful strategies to make money online, visit here:
http://www.talfighel.com/30daystosuccess.exe



Circulated by Article Emporium

 


©2005 - All Rights Reserved

JV Blogs Visit free hit counter