Plugging Leaks that Cost You Money
Last year I invested over $25,000 in NEW tools, training, software and resoures to take my business, income and lifestyle to the next level. Unfortunately...
...not everything we invested in contributed to the bottom line.
SOME even cost us money to test out.
Which is no big deal, really.
Because not everything works out as planned.
But is is a TRAVESTY to...
STILL BE PAYING for things you are not using, intend to use or have used without it producing a measured, profitable result.
Here are a few LEAKS IN THE BUCKET we recently discovered:
ANNUAL membership, tools, software renewals.
These are pretty sneaky because they are VERY EASY to forget about.
So there you are... happily minding your own business... and one day... out of the blue... $97, $197, $500, $1000... maybe even $1,680 hits your paypal, stripe or credit card.
BAM! Just like that!!
Which, again, is no big deal if you are actually benefiting from the subscription. But often times you aren't. Often times you might not have even completed the training or 'gotten back to' whatever is was that caught you attention in the first place.
So CANCEL the dang thing!
ASK for a refund if you are legitimately not using the subscption or service and you are automatically renewed.
To PREVENT ANY FUTURE ANNUAL LEAKS... use a calendar system to flag you 2-3 weeks BEFORE the annual subscription is to renew. This will give you a chance to reassess the program BEFORE you get punched in the pocket book out of the blue.
MONTHLY membership, tools, software renewals.
When was the last time you went through your monthly credit card, paypal and stripe statements and held EVERY CHARGE accountable to moving your business forward and ELIMINATING every one that does not?
Every quarter my wife and I go through all the business expense records with a very, very shapencil and it is not unusual to use to find ways to reduce expenses by simply eliminating tiny little monthly expense items that simply are no longer contributing.
Just this last quarter we realized, due to testing a bunch of different 'funnel configurations' - we were paying $49 a month for an email program we never used... and $10 a month for another email program we were not using... and had acquired a new email-marketing related $197 annual charge.
What we settle on using costs only $29.95 and by PAYING ATTENTIION to plugging the leaks in the bucket... we saved $197 annual, plus $59 per month.
Good stuff, right?
To PREVENT ANY FUTURE ANNUAL LEAKS.. use a calendar system to flag you 1-2 weeks BEFORE the 3rd monthly subscription renews. This should give you plenty of time to have reviewed, used and documented the value of the program.
Minimum Payouts & Affiliate Activity
Clickbank is an online affiliate directory offering thousands of different products you can promote as an affiliate and, over the years, we have made a LOT of money promoting Clickbank products.
TWO YEARS AGO...
For whatever reason, I stopped promoting ANY Clickbank products AND prompty forgot about the whole system - even though they owed us a few dollars in acrued commissions and reserve payouts.
I figured 'the check would be in the mail", as usual.
But that was NOT the case...
Instead of sending a check every two weeks as usual, CLICKBANK was slowly bleeding us dry every two weeks instead!
For over TWO years!
Because I had not changed the MINIMUM PAYOUT AMOUNT... from $500 to something like $10! Which is more in line with our CURRENT activity.
When the bottom line is THE bottom line... it's makes cents to MIND YOUR BUSINESS.
Bless and be blessed,
PS - Share how much you have SAVED this last quarter paying attention or any other sneaky ways that might be costing us all money.