Welcome to the final week...
Do you know how well your company is actually doing?
Most new business owners have no clue how much money they really have. Sure,perhaps you just got paid $50k from anaffiliate network, but have you accountedfor the $35k bill from Google AdWordsthat is coming due, $5k for freelance
work you haven’t paid
for yet, and $10k
for all those new toys you’re just
for which monthly payments
are coming due? What if you’re not surewhat bills you’ve already paid or new
expenses you need to cover? Use credit cards to solve this problem and they will kill you.
I’ve seen many affiliate marketers get in trouble by trying to wing it when it
comes to their finances.
They never had a system to begin with and don’t knowthat you’re supposed to do things like:
Separate your personal from yourbusiness expenses
having separate bank accounts for each and even setting up aseparate company.
Creating a monthly financial reviewprocess
even if you are just one person, youneed to do this. We will cover why and how.
Set aside part of your profits for taxes
—Uncle Sam will catch up to you, it’s just a matter
of when. Same is true for state governments, when it comes to payroll taxes,unemployment, and whatever else.
And like with the cops, you can’t plead