I'll tell you one thing for sure, you learn a lot about running an online business when you jump right in. My girlfriend (Liz herein) and I setup our first online business this week. Our first business is automotive related and earns money based on both advertising (Google Adwords) and commissions for redirecting the winning bidders to auctions for things automotive related (ebay affiliate program).
As is true with all startups, there were initial setup costs incurred. This week's startup costs were in buying domains ($8.95) and software to get our site up and running ($94). That brings our first weeks one-time charges to $102.95. Our weekly expenses were entirely due to advertising (gotta make those winning bidders know where we are. How else will they win that auction?). Total amount spent on advertising equals $10.32. Not too bad really. Our total income from hosting our own advertising equals $3.37. Our total income from commissions was $0. Yep you read that right. We made nothing from commissions as of yet. I really didn't expect anything different as we have only had the site live for 4 days.
Looking ahead, Liz and I plan to stand up another business this weekend and are working on two information driven businesses that we hope to debut in the next week or so. Stay tuned for updates.
NW Hours: 40 NR Hours: 2 Businesses: 1 Sales: $3 Profit: ($110)
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