Spend Money Wisely To Make Money Online — No doubt!

Feb 10, 2019 | Business Ideas

spend moneyIn modern times, the internet has created great opportunities for people to make money online. If you plan to start an online business, this article could be helpful to you. Online businesses, like conventional businesses, require money to run them. You have to spend money to make money. That’s the unwritten law of making money.

If you think you will ever make money without investing, then you are yet to be born. Money is so funny that it always goes where it has its ‘friends’. If you spend money to invest in your business and to work on it, it will always come into your pockets and in abundance.  I am not scaring anybody but I am trying to bring out boldly the absolute truth involved in making money.

Although some people start their online businesses on a shoestring budget, the truth is that you have to spend time and energy to acquire the skills needed to start your online business. If you translate that into monetary terms, you will have spent some good money to build a business that will give you the returns you expect from it.

Be careful as you spend money online…!

Before I can go any further, I would like, first of all, to caution you that do not just spend money blindly because you will lose it all. Spend it wisely from and an informed point of view. I repeat, spend money wisely.

There is a little known musician, who sang a song entitled “Man made money, but money made man mad”, in which he narrates how people do bad things in the quest for money. Using this song to guide you, you need to avoid being economically preyed upon too much by others. Spend money where each coin you spend adds value to your business.

What do you spend money on to make money online?

1. Computer

To make money online, you need to buy yourself a computer which you will use to do business. Having a personal computer, preferably a laptop is very important if you are to start an online business. It’s safer and more convenient to do your business on your personal computer than going to internet cafes. You will make money faster, safer and conveniently.

2. Internet Access

There is no way you can start an online business without an internet access. Much as one can easily access internet by going to internet cafes, it’s more convenient to have your own full-time internet connection to do your online business any time of the day.

3. Software

If you intend to design your own website, you will have to spend money on web and graphic designing software. This will enable you to easily design your website and in a more professional manner.

4. Domain Name

To make money online, you need a website name commonly known as a domain name. You will inevitably have to come up with your own domain name and spend money to register it, which is on average $10/- per annum.

5. Web Hosting

A web host is a company that provides you with server space for your website so that other people can view it from their own computers. When your web address is typed into the browser such as Internet Explorer, your web host is contacted to display the requested page.
To make money online, you must invest in your own domain name and a professional web hosting company. Without a domain name, your visitors may feel that you are not a credible person or company. Hosting your website with a free service will lead to loss of professional credibility. Most importantly, search engines will NOT index a website hosted on a free server.

Additionally, free hosting services are interested in promoting their own businesses through advertising on your free hosted website. You can wake up one day and find your website closed down if your free web host deems it necessary. If such a misfortune happens, you lose all your time, energy and money that you spent to design your website. It’s therefore important to spend money on your own domain name and web hosting if you want to make money online.

6. Education

If you don’t spend money to acquire knowledge and skill, it’s very difficult for you to succeed in your online business. You will have to spend money on buying books and attending courses related to online business and marketing. Remember that acquiring knowledge and applying it, it does not only help you to improve your service delivery but it also enables you to make more money online.

7. Advertising and Marketing

You must spend money on advertising and marketing your website or your online business if you want it to grow and make a lot of money. Many people think that once you build a website and place it online, then you begin making money. That’s not all what you need to do to build a successful business. You must learn how to drive traffic to your website and to promote it consistently in order to make money online.

Although, you can use free online marketing to drive traffic to your website and get customers, paid online advertising grows your business faster. To get quick returns and to make quick money, spend money on advertising.

8. Professional  Services

Online business is not only for people with the ability to design their own websites. But if you cannot design your own website, then you will have to spend money on professional services. Even if you have designed your own website, you will still seek professional services to promote your business.

CONCLUSION

As I wind up, be reminded that online business requires a lot in terms of time, energy, skill, knowledge and money. Learn new knowledge and skills, and spend your time and energy working on your business so as to position yourself well for success. To even make more money online, you will inevitably spend money to grow your business. That’s the absolute truth!

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