How to Turn Expenses into Profit Streams
Are you getting something expensive done for your business? For example, are you having some special software made just for you? That might set you back a couple of thousand dollars, but not if you’re smart.
When you tell your coder what you want, ask him to create a stand alone version that you can sell to others. It might be a blank version with no graphics or banners that you can then sell at a premium rate to other marketers, who can then brand the software and sell it under their own name.
This might cost a little more money up front, but the money you earn on selling the software will likely pay for the whole deal, and maybe even put you in profit.
What if you’re having your lawyer draw up legal forms for your website? Same thing. Ask your lawyer to make generic versions you can then sell to other marketers who can’t afford a lawyer. Make it clear that they need to do their own due diligence, and that you are not offering legal advice.
Anytime you are paying for anything pricey, ask yourself how you can turn the expense into a profit stream. It’s a simple shift in your mindset that can greatly reduce your overhead and even put some extra money in your pocket.
