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 you stories about exactly how I do it for my business which is
currently doing 4 million dollars per year. Whew,
managing an online business is not easy. Especially when you're working for
yourself. Because guess who is your own worst enemy? Yourself. 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 4
distinct things that I do in my business that has allowed me to grow to doing up
millions of dollars per year. You know, ever since... I think my first year doing
7 figures was 2013. And every year since then, I've run of a multi-million
dollar business. The first trick to managing your online
business successfully is measuring your time. Now, this may seem totally
counterintuitive 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
hippie and not ever watch over where it's you do whenever. You know, you just
kind of lose no I want to get a coffee, I want to go to the bar whatever, right?
Measuring your time is 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 5-minute increments roughly. Where I write down on a spreadsheet
where I spent each roughly 5-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
right down designing a new add-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 than
all the other minions that are on Facebook. Don't let yourself fall into
that trap. Have willpower. My grandparents fought Nazis. All you have to do is not
dick around on Facebook, okay? So, what I do then is I'll actually put an
asterisks or I'll 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 me
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 programming. So,
make sure to measure your time. And do so for a week. 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, I don't know. It's a 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. 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 to close a 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 many profits did you make or how many uh appointments... Now, how
many appointments to scheduled is within your control. I would say, 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 you're at 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. Very easy. Know
your KPIs, measure them if you're an entrepreneur. Tip number 3 for
managing your online business is have a master spreadsheet for everything, okay?
It could be another tab. Maybe you have a spreadsheet in one tab is
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 just call in
people or you know you start an ad agency or your launching ads. You know,
you write down each of those campaigns. Maybe the next tab is have a master
spreadsheet with your expenses in it. Okay? What are you spending on your
business? Are you investing in a program? You know, I have a 6-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 in sight. 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 of all of my different numbers
for February. I'll do March of all the different numbers for February. 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 how many sales am I making? Or how much
commission's 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's 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 need us to be spending time launching ads. That's what I do.
So the 4th tip I have for managing your online business is actually, I
believe the biggest paradigm shift in management of this century almost. And
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. You want support? You have to hire an employee to handle your support.
You want to do marketing, you have to hire an employee to do marketing. You
want sales? You have to hire a sales person. 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 living testament to that. I run a very
large business... Not a very large business. It's actually a very small business and
the scheme of things. But the point being, I run a let's call 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 have 7 agencies that run ads for
me. I have 4 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
workers 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 off the space, you don't have
to get them internet. You don't have to buy them all computers. You shut down
your cost 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 service is. 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 them. They do good I hire 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. 4 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 do 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 not treating yourself seriously. And once you know what your
business is, start measuring your KPIs and just docking there. Say you need to
make 25 cold calls a day if you want to hit your numbers. Whatever that is, know
and measure your KPIs. As you start 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 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 gonna do anything at all based on this
information.