When it comes to marketing and trying to figure out your budget, it can be quite confusing at times to differentiate the difference between Martin and overhead expenses. It can also be a juggling act to effectively come up with an advertising budget that yields a healthy return on investment.
The following questions and answers below are for recreational reading only and to give you “entrepreneurial food for thought” how to formulate your own budget so that you don’t go over budget on expenses and miscellaneous costs when desiring to increase your revenue potential.
1.What is the direct relationship between margin and overhead expense?
Margin and overhead expense are associated with indirect cost. Indirect costs can range from or associate directly with advertising and manufacturing. Advertising costs are indirect cost because every business needs it to effectively advertise their products and services in hopes of generating exposure and benefiting from a healthy ROI - return on investment. A profit margin is associated with an overhead expense because businesses of all sizes need to effectively master their budget,as an effective means of keeping a positive profit margin every quarter.
Overhead expenses also allow businesses to project ahead of time how many units (Profit margins fluctuate with the number of units sold) they hope to move as a way of projecting current and future financial growth and keeping shareholders happy. All in all, if overhead expenses are managed successfully and profit margin is met or exceeded expectation, it's a win-win for everyone. One must also be mindful of pricing because it affects the outcome of sales growth and better decision-making with reduction of overhead expenses. Bottom line? Their direct relationship ties into increasing profit potential for the company, and keeping the stock price climbing to its fullest potential.
2. Why is it important to introduce new products to the market periodically?
It's always wise for businesses to introduce new products to the market spontaneously as a means of providing effective solutions. Some people are “brand loyal,” preferring to purchase products and services made by a single brand without venturing elsewhere. Die-hard brand loyal customers tend to “stick it out with patience” until a new product or service is introduced to the market by the company they're loyal to. to some, this creates feelings of satisfaction because they feel they're getting their money's worth and their needs met.
On the flip side, it's also a good idea for companies introduce new products to the market periodically as a means of increasing their profit potential. In other words, it gives corporations leverage the analyze products and services that are slowing in sales growth, revamp strategies to promote and increase profit potential for existing products and services, and introduce new products to the market as a means of solidifying solid residual income. In other words, when one product starts to slowly underperform in sales, the new product may possibly pick up the financial slack from existing products and services slowly slumping in sales. Lastly, new products and services introduced to the market have newness to them and with attractive pricing and creative marketing strategies with a well-rounded advertising budget, there's the opportunity to tighten “financial slack-gaps” from existing products possibly underperforming in sales, but also the opportunity to potentially upsell other products and services by offering coupons - rebates through the new product or service introduced. Introducing a new product or service to the market keeps existing products and services relevant and people coming back for more.
3. If revenue is growing, should you continue to control expenses? Yes or no? Why?
The goal is to keep steady profits not only skyrocketing quarterly and annually, but most importantly, keeping the stockholders happy. In the midst of this, it's important to keep expenses control such as advertising, pricing, promotions, and being mindful about how many units predicted to sell at a fixed price. Yes, expenses should be controlled across the board.
Salesforce.com budgets, volume discounts such as wholesale pricing, and allotted allowances two different chain stores should also be considered in expense controls as a means of keeping steady quarterly and annual profits grandfathered in. The end result of steady revenue growth and controlled expenses is rising stock prices, cumulative sales, net profits, rising manufacturer sales, and controlled advertising budgets to the point whereas customers are consistently purchasing products/services.
If you’re really looking to reduce expenses and increase your overall revenue potential by working from home in your spare time as a “side hustle,” it’s recommended to follow the links below and read articles for your entrepreneurial inspiration in making the healthy and successful transformation going from employee to entrepreneur “if you’re currently in the working class workforce and have a day job”:
LifeHacker.com - An inspiring article from LifeHacker discusses making small tweaks-healthy life changes before delving full-time and side of entrepreneurship. Bear in mind that starting a side hustle is one thing. Getting into the mindset of dedicating yourself wholeheartedly and doing the transformation business work out of inspiration or desperation at full strength is another. Making tweaks and healthy life changes before delving into site also entrepreneurship may possibly mean turning your back on phony naysayer family members, never looking back when phony friends walk away from you and turn heel though some of your friends may be childhood friends, having a visionary mindset where you desire to be with your side hustle business 5 to 10 years from now, and possibly working on your business while “staring at walls and people thinking you’re all alone.” If you’re one of those people going through life changes right now and looking to be your own boss and sick of the day job scene and being treated unfairly by the narcissist employers and underpaid, now’s the time to make healthy changes and do the transformation work by taking side also entrepreneurship to the public ninth step and consider working on your small business from home in your spare time. And besides, starting aside also from home doesn’t require you to have a budget or any type of excessive overhead expenses. The only overhead expense you may possibly have it shelling out the dough in the beginning to purchase your own domain name and dedicated web hosting to start up your self hosted WordPress blog on as your side hustle. The only other expense you may have to pay, though not tangible, is the expense of mentally dedicating yourself to your side hustle and setting aside a few hours per day to grow your business organically without resorting to paid online advertising services.
Patheos.com - If you’re looking to start a side hustle and have $0 expenses other than buying and selling things online and you have children, a good way to increase your revenue potential with or without a budget is by starting up in Etsy.com page. You probably have a few things laying around your apartment, condominium, or house you no longer use and could possibly do away with in selling for a few dollars. Etsy is a great place to start profile page free of charge. If you’re not ready yet to purchase a domain name and reserve dedicated Web hosting starting your own self hosted WordPress blog as a side hustle, the side hustle of buying and selling for a reseller profit on Etsy could be your revenue potential to financial freedom and turning your assigned gate into your main job. If you’re one of those people sick of working for someone else and getting up in the morning to go to a job that you possibly feel sick of and dealing with a narcissist employer who looks at you different because you claim religion on the job or doesn’t fit into the company culture, this might be your calling to start your side hustle. And besides, by starting your side hustle now and having kids that depend on you, your children can be your subliminal side hustle motivation to turn your side also into your main gig and possibly achieve the future status of “side hustle millionaire.” Everyone who has kids want a secondary stable stream of secure income. Even if you have no intention of quitting your day job, you should still consider a side hustle online working from home as a stable secondary source of Internet revenue. Need some inspiration now to start your side hustle as your children will thank you in the future for starting up now? Read this article now on Patheos.
Forbes.com - A young gentleman by the name of John Crestani was wrongfully terminated from his job in his 20s. Not only was he wrongfully terminated by a suspected narcissist employer, but John found himself terminated and broke. He stumbled upon a book that would forever change his life. Refusing to give up in the uncertain game called life, Crestani discovered, learned and mastered the awesome power of “affiliate marketing.” With suspected rage bottled up with in due to the fact that he was fired from his job, John used what he learned and crafted it into his unique style of putting digital marketing to work for him. Not only was he successful starting and operating his “affiliate marketing side hustle,” John was able to defeat the odds and his former employer. He’s in a privileged financial position today to travel the world as he pleases and never again return to the 9-to-5 day job scene. An article from Forbes magazine discusses how John amasses over half $1 million monthly from his online marketing side hustles. He’s an everyday person just like you. He used adversity to subliminally open doors of financial opportunity by believing in himself and doing the transformation business work out of “inspiration or desperation.” He refused to feel as if he was less than a respectable human being and defied the odds of people thinking he should be virtually thrown in a landfill. He’s a multimillionaire today and inspires others to transform their lives through the power of positive thinking and starting their “side hustle affiliate marketing ventures working from home.” The best investment you can make is in yourself. As long as you’re working for someone else which is a good thing at the time, always set aside some monies to invest in your side hustle business venture. You never know when your daytime employment will go “belly up.” Affiliate marketing, blogging & side hustling is the transformation business solution to financial freedom.
Forbes - Earning $100 a day online from affiliate marketing and blogging as your part-time side hustle working from home is absolutely possible for the everyday working class person. All you need is a visionary mindset and a willingness to shell out some money investing in your self. The only money you have to worry about shelling out without budgeting is purchasing a domain name and reserving dedicated web hosting to install and operate your self hosted WordPress blog on. You need a self hosted WordPress blog installed on a dedicated web hosting solution and here’s why. You want your server to have the grand ability to handle large sums of incoming traffic from search engines and social networks like Twitter.com, LinkedIn.com, YouTube.com, Facebook.com, and Pinterest.com. When you have the right dedicated server or cloud business server to handle hundreds and thousands of people on your self hosted WordPress blog at once, not only do you improve your search engine optimization to the point of getting more free traffic from search engines, but you put yourself in the position to earn $100 a day or more from affiliated advertisements on your WordPress blog. Partnering with online advertisers and placing affiliated advertisements on your blog puts you in the blessed position to potentially make money online 24 hours a day from your affiliate marketing and blogging side hustle with or without a day job. The beauty of affiliate marketing and blogging is you’re creating content for your blog and what you write and publish will be indexed by search engines and have the potential to earn traffic free of charge years to come, putting you in the position to make money from affiliated ads on your blog over and over again even while you’re sleeping. This is the beauty of affiliate marketing knowing while you’re sleeping, you’re still making money. You can’t do that with a regular day job because once you clock out, that’s it. This is why you need to take the side hustle seriously and investing yourself by purchasing a domain name and getting dedicated web hosting so you can earn potentially $100 a day or more online with out zero dollars budget.
TheWickedWallet.com - Gina from The Wicked Wallet discusses how to potentially make over $50,000 a month from affiliate marketing. Most people who are in and has been in the day job mindset for decades dream of earning this type of monthly income. The beauty of affiliate marketing is there’s no age discrimination, no employment resume required, no job interviews, no criminal background checks, no references needed, and most of all, no college degree required. Affiliate marketing is a freelance industry where anyone from anywhere in the world at any age can make money online potentially 24 hours a day off of their pure ambition. This is an industry where you can earn an absolute gold mine. But it has to be something you truly want to do from the heart. Truth of the matter is, there’s no guarantee of anyone earning one red cent or a single dollar in this line of work. No one will stand over your shoulder and motivate you to meet a monthly quota. You will not earn a financial stipend on till you start generating sales from affiliated advertisements on your blog, forum or website. Affiliate marketing can make anyone a [side hustle millionaire]. A “side hustle millionaire” is one who dedicates themselves to making affiliate marketing work for them by starting their affiliate marketing side hustle from the bottom, and building their affiliate marketing side hustle from the ground floor up, operating in faith at full strength by “doing the transformation business work out of inspiration or desperation.” Gina discusses affiliate marketing, blogging, and moving forward in faith by working your online marketing side hustle in your spare time. Gina’s blog post on affiliate marketing is definitely worth reading.
Check back often for recommended side hustle articles to read for your entrepreneurial motivation, if you’re needing that extra push in going from employee to entrepreneur, or “terminated to millionaire,” or “terminated to future side hustle millionaire.”