So in this video, I’ll be showing you how you can manage an online business successfully, especially if you’re working for yourself. And I’ll be relating to your stories about exactly how I do it for my business, which is currently doing $4 million per year.
Woo. Managing an online business is not easy, especially when you’re working for yourself because guess who is your own worst enemy, your self. And when it comes to managing yourself, it can be one of the hardest things to do in your life. Being an entrepreneur is hard because you have nobody there to call you on your stuff and to tell you to keep doing what you’re supposed to be doing and not to do things that are going to take you away from those profits and those revenues that you’re trying to create. Now, I’m going to be going over four distinct things that I do in my business that has allowed me to grow to do millions of dollars per year. You know, ever since I think my first year doing seven figures was a 2013 and every year since then I’ve run a multimillion-dollar business. The first trick to managing your online business successfully is measuring your time.
Now, this may seem totally counter-intuitive because the reason you probably want to start your own businesses so that you can just be free and be like a little, you know, wildflower hippy and not ever watch over where to do whenever, you know, you just kind of let it go. I don’t want to get a coffee. Or, I want to go to the bar or whatever.
Measuring your time as the most important thing you can do in your business. I keep a spreadsheet in my business when I don’t do it all the time, but whenever, you know, especially when I’m getting started or when my revenues are struggling, what I always come back to is I start measuring my time, and I do it in five minute increments, roughly where I write down on a spreadsheet where I spent each roughly five minute period of my time.
So if I work on an activity for 30 minutes, let’s say I am designing a new ad on Photoshop, I write down designing a new ad on Photoshop 30 minutes, and I do that throughout the entire day. You will be astounded at how much time you lose each day to complete and utter nonsense. Okay, it’s true. Scrolling around on dicking around on Facebook. I’m just going to call it like it is, don’t dick around on Facebook. If you want to make money and be a serious entrepreneur, you are stronger than that. You have more willpower than Mark Zuckerberg or all the other minions that are on Facebook, don’t let yourself fall into that trap. Have Willpower. My grandparents fought the Nazis. All you have to do is not dick around on Facebook, okay? So I do then is I’ll actually put an asterisk or I’ll bold the items that actually create that directly correlate to making me money.
Now for me as an affiliate marketer, which by the way, if you want to learn more about what affiliate marketing is and you know the basics of affiliate marketing, I’m going to have my assistant put up a card or put up a link to free course I have on affiliate marketing here, but as an affiliate marketer, I have to be launching ads. I have to be creating ads and launching campaigns on Facebook, Google, Youtube. Now, if I’m not putting up advertising or optimizing advertising, then I am not doing the activity that makes me money plain and simple. Judging by that, I spend a lot of time not doing advertising, which is not good. I can find ways to justify that I’m working on my business. I can say I’m learning or I’m researching or I am talking to somebody who may be important. Whatever the point is, what creates my money, the revenue is launching ads.
If you’re doing sales, you are only doing a valuable activity. If you are calling somebody or if you are meeting with somebody to close a deal. If you are a programmer, you are only doing your activity. That’s going to help you make money if you are doing the program. So make sure to measure your time and do so for a week. If I challenge you to do so for a week and write in the comments. If you accept my challenge to measure your time for a week, okay, measure your time as an entrepreneur or whatever you’re doing, measure your time for a week, see where it goes, see how much gets wasted it’s unbelievable.
The second tip to managing your online business is knowing and measuring your KPIs. Now, if you don’t know what KPIs are, KPI is, it’s business management term called key performance indicator. So key performance indicator for me is how many ads did I launch? How many new campaigns did I launch this week? If I’m launching five campaigns a week, I’m doing a good job. Oh, another person, it might be, how many proposals did you send? How many calls did you make? How many products did you list on Amazon? How many products did you list on your Shopify store? It could be any number of things, but a key performance indicator is something that’s in your control. It’s in your control to influence the more in control to influence the better. Launching ads is a KPI for me because it is within my control. Making a cold call, reaching out to somebody, a prospect, close the deal. KPI within your control. An example of a KPI that is not in your control would be how much money you make? You know, how much, how many profits did you make or how many, appointments.
Now, how many appointments you schedule is within your control. I would say how many, how much profits did you make or how many profitable ads did you launch? That is not a KPI because it’s not necessarily within your control okay. It depends on if your ad is profitable. Launching ads is within your control. Putting up youtube videos for me is a KPI. I need to be putting up a youtube video a day. I want to be influential in this world. I want to make an impact. I want my story out there, so I need to put up a video a day, and that’s something I control. Whether the video is good or not, I don’t know. But the point is that’s a KPI that’s within my control. I know it, and I measure it. It’s very easy. Know, your KPI’s measured them. If you’re an entrepreneur.
Tip number three for managing your online business has a master spreadsheet for everything, okay. It could be another tab. Maybe you know you have a spreadsheet in one tab is you know, your time measurement. Maybe another tab is your KPI, you know, whatever that KPI is. You know, maybe you’re, maybe you’re doing sales, and you’re just calling. People are, you know, you started an ad agency, or you’re launching ads. You know, you write down each of those campaigns. Maybe the next tab has a master spreadsheet with your expenses in it. What are you spending on your business? Are you are investing in a program? You know, I have a six-week program. If you’re doing affiliate marketing, but there are other training courses, you know, step by step things which you can get in really any business, social media, marketing, Amazon FBA, Shopify, drop shipping, etc.
That’s an investment. Make sure to mark that down if you’re spending money on other things. If you’re spending money on, let’s say you’re starting an ad agency and you just got a whole new wardrobe so you can look like money when you go out and meet with clients, that’s an expense, write it down. You know this is all expenses. How much money have you spent in your business? How much money are you making? How much revenue? Write it all down. Keep a spreadsheet of everything you’re making, everything you’re spending and keep your numbers insight. You know, I have a spreadsheet every single month is a row okay. Generally speaking, time is a row, so I’ll do January, and I’ll have all of the different numbers. For January, I’ll do February, I’ll know of all of my different numbers for February, I’ll do March of all the different numbers for March. Generally, time goes down, you know on the spreadsheet, it’s unlike the left side, and you know the months and your metrics are the different columns.
What I look at is I look at not just, you know, how many sales am I making or how much commissions am I earning or how much am I spending. I’m also looking at month over month increase. Did I launch more campaigns this month versus last month? You know, so I do a little excel formula for that. It’s very easy. You know you can look that up on a different video. There are tons of excel videos out there. You know, but I say, did I do more this month or did I do less? Did I make more money in affiliate commissions this month or did I make less? Did I make more money in sales this month or did I make less? I look at all these different numbers, and I figure out where my time went, where my money went, where my money came from, and you know, if I was in my KPIs, and I have it all in a spreadsheet so I know exactly what’s going on in my business every single month I update the master spreadsheet on a monthly basis so I can get an idea of what I’m doing and where I’m going. If you want to treat yourself like a business, this is what you do. My KPI sheet, I update daily every single day I’m, I need just be spending time launch ads that’s what I do.
So the fourth tip I have for managing your online business is actually I believe the biggest paradigm shift in the management of this century almost, and it’s, it’s one of the biggest shifts is agencies. You can hire an agency for everything. In the olden days, you used to have to hire employees to do anything you want. Do you want to support? You have to hire an employee to handle your support. Do you want to do marketing? You have to hire an employee to do marketing, you want sales, you have to hire a salesperson, you want to do accounting, you have to hire an accountant. That’s all wrong. That’s all gone away. You don’t need any employees anymore, and I’m a living testament to that.
I run a very large business and not a very large business. It’s actually a very small business in the scheme of things, but the point being, I run a, let’s call it a significant business and I have zero employees. The reason why is because I have agencies that do everything for me. I have an agency that runs my support. I have an agency that does my accounting. I have an agency that does my bookkeeping. I hired another agency that does my tax planning. I’ve seven agencies that run ads for me. I have four agencies that do my social media marketing for me. All in all, I probably have about 15 separate agencies that work for me. I have no employees and agencies are very easy to work with. You know you don’t have to worry about workers’ comp cases. If somebody gets injured, you have to get worker’s comp insurance, so you don’t have to worry about, you know, paying their taxes.
You don’t have to worry about all these different things that come with having employees. You don’t have to get office space, you don’t have to get them the Internet, you don’t have to buy them all computers. You shut down your costs so much, and you allow yourself to be free to focus on whatever it is, the main things you are about your business. And I believe every business should be focused on whatever their product or their services. That’s something only you can do, or maybe it’s marketing, you know, it allows you to focus on ads. But the point being, I have about 15 agencies that work for me, and I keep them all on a spreadsheet. Regards to my traffic agencies helped me manage Google, Facebook, youtube, Twitter, Instagram, snapchat ads for my business. They’re all on a spreadsheet, and I just see, I see whether they’re good or bad every single month.
And if they don’t do good and if they don’t make me money, I fire. They do good. I hired them, and I ask if they have any friends who do stuff that they recommend. It’s very easy, but you can manage your business very simply for spreadsheets, and that’s all you need. That’s all you need, and you know exactly where you are in your business. But beyond a doubt, you need the very first starting spot. If you don’t, aren’t making any money in your business, measure your time. If you’re just learning, measure your time. If you haven’t even started your business yet or decided on what you wanted to do, measure your time. If you’re not measuring your time, you’re letting it get away from you and not treating yourself seriously. And once you know what your business is, start measuring your KPIs and just docking their say you need to make 25 cold calls a day.
If you want to hit your numbers, whatever that is. No, and measure your KPIs as you started getting revenues and expenses, you know all that other stuff. Maintain a master spreadsheet, and as you start really growing and you need to hire people, you need to outsource certain activities in your business. You can start a spreadsheet to manage all of the agencies that you hire.
I hope this has been helpful. This is how I manage my business. It’s not very complex, right? It’s just a couple of spreadsheets. It’s very easy. Now, if you liked this video, please subscribe to my channel. I’m coming out with a lot more videos on how to start an online business and how to be affiliate marketer and whatnot, and please leave a comment in the comments if you are going to start a spreadsheet based on any of these things, and I look forward to seeing you in my next video and don’t be a stranger. Leave a comment. Let me know if you’re going to do anything at all based on this information.
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