Hey guys, I know it has been for freaking ever since I have posted on this blog and well to be honest, I was going to write a post explaining everything, however, I decided that it was just too much to go in to, so instead I decided to just start posting again and act like nothing ever happened! 😛
I have been so busy and have continued to learn so much about affiliate marketing and internet marketing. I am so appreciative of those that have stayed subscribed to this blog via rss or email and I hope you enjoy this post and that it will help you avoid a mistake I made when starting out working from home. I plan on writing several posts about mistakes I’ve made over the years of being involved in internet marketing. How many? Well, to be honest I don’t know, so we will start at Post One and see how far it goes from there!
So let’s get started!
One of the first mistakes I ever made when it came to affiliate marketing was when I first started out. Those that have been reading my blog since I started it has most likely read my story several times and know that I immediately found success with my very first affiliate marketing campaign, however, even though I found immediate success, I also ran in to a huge problem.
Huh? My first problem was success in affiliate marketing? Yep, and the reason for this was because I immediately started making $100 dollars a day in profit almost overnight. I quickly optimized my campaign, and the profit seemed to grow each day beyond my belief! So what was the problem with that you ask?
Well, believe it or not, I did not prepare for this success and it came at a rough time in my life. I had been laid off from a steel mill that I was working at and went from making $400 a week to collecting about a $100 a week via unemployment! :/ Needless to say when I started making a $100 a day I got pretty excited. Instantly my wife and I started going out to eat on an almost every other day schedule, we went out and purchased a brand new car, and started just flat out enjoying the money that was rolling in.
What I should have done however, was reinvest that money back in to my business. The awesome thing about affiliate marketing is that almost anyone with half a brain can stumble across a campaign that will make you money, however, a downside to this business is that when you are first starting out most people don’t have the knowledge to build a campaign and get it to the point where it consistently brings in revenue for a long period of time!
By taking the money you create and being careful with it and reinvesting it back in your business you ensure that you won’t run in to capital issues when it comes to creating and setting up future campaigns, which is exactly the problem I ran in to!
Because I started spending all the money I was making, when I started my second campaign and it took off like a bat out of hell, I didn’t have the funds to keep it going. I was spending more money that I had available. I quickly had to apply for several credit cards and ask friends and family to loan me money. I was lucky enough to have people in my life that helped me out, however it came at a cost, for the credit cards it wasn’t a huge issue as I just paid them off at the end of each month, but for several of the loans I took I made deals to pay them a fee for allowing me the short term loan. Whereas if I hadn’t been foolishly wasting my money, I would of been making pure profit from my campaigns.
This post isn’t a huge wake up and smell the coffee type post and to most of you it may seem like common sense. For me…I got excited and hopefully this post will stop another person from making the same mistake I did!
Make sure you add me to your RSS feed as I’ll be sharing other mistakes I’ve made, some that have cost me thousands of dollars!!!