DIGITAL STARTUP SOCIETY BLOG — Business Profits

The internet is a huge place and there’s plenty of room for all of us making a living online. If you’re worried about collaborating with “your competition” think again. One of the best things you can do is make friends with other online business owners in your niche.    Start By Figuring Out What You Can Do For Them    There’s nothing worse than getting a pitch email from someone you don’t know. You don’t like getting them and the person you’re sending them to is no different. And quite frankly it’s not how you make friends in the online...

A good way to make sure your business stays profitable for years to come is to spend at least some of your time working on passive income streams. Passive income is an income received on a regular basis, with little effort required to maintain it.    An example we’re all familiar with is the interest you earn on your savings account. You don’t have to do anything other than letting your money sit in the bank. Of course you’re not going to get rich from having a few thousand dollars sitting in the bank. But thankfully there are plenty of...

I’ll let you in on a little secret. The key to running a successful online business without running yourself ragged is to have systems in place for everything. You’ll be surprised how much time you’ll save each week and how much more productive you’ll be once they are in place. Let’s take a look at a couple of different types of systems you may want to implement.    Document your systems and create checklists for them as you start to create them. They will come in handy over the coming months and years.    Product Creation    Your systems for...

The easiest way to make your business more profitable is to track what’s working. What parts of your business, what projects and what products are making you money?  Which ones don’t? What type of customer is most profitable for you? Where is your most profitable traffic coming from?    Taking time to dig into your stats and calculating ROI (Return on Investment) is one of the best things you can do for your bottom line.    Your Products    Start by looking at your products. This could be info products, physical products, any coaching you do, anything you resell or...

Are you managing your time effectively? As online entrepreneurs we’re bad about falling in the trap of counting every hour at the computer as “work time”. Be honest with yourself here for a minute. How much of that time is spent browsing through Facebook, checking the latest Reddit posts or going down the rabbit hole of “research”.    We’re all guilty of it but to be more profitable and productive we have to manage our time effectively. While the ideas below will take some getting used to, the end result will be to spend less time at your desk and...