The reality of making money from an online audience

Running an online business isn’t as easy as you often think it will be. Marketing is one skill many small business owners struggle with, especially when it comes to audience growth and converting those followers to sales. But often, once you’ve mastered marketing on one platform, you can transfer those skills across all other social media platforms.

If you’ve wondered how to make money from an online audience, you’re not alone. I recently chatted to Helen Perry about this on my podcast. Helen helps other small businesses with their content marketing on Instagram and via email. She shared some excellent insights on the reality of making a business from an online audience. So if you’re looking for some tips on how you can use social media to grow your business, keep reading!

There are no shortcuts to growing an online audience

As with anything, growing an audience takes time, and there are no shortcuts. You need to take your time to really understand the...

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Do you know what the breakeven position is in your business?

Do you know what the breakeven position is in your business?  Do you even know what that is?
 
If you don’t know (and it’s totally ok if you don’t), breakeven is when your sales and costs are the same ie zero profit.  This is taken after tax to ensure this doesn’t get forgotten.
 
Start with working out your fixed costs.  These are the items that, if you didn’t have any income, would still exist.  This might be your website, insurance, accounting costs, employees, office space costs, tech (G suite, zoom etc) or manufacturing costs.  Also, anything that you are paying on a payment plan to ease the payments.  Anything that you can’t just turn off if your business stopped for a period. 
 
Then look at the variable costs.  This could include paying yourself although I think you should be aiming for a minimum fixed cost each month to pay yourself.  So put in how much you need to live in this...
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