Hi Ajay,
I get it.
Analyzing expenses and reviewing profit and loss statements are a drag. They are not nearly as much fun as designing a cool new website. But, if you focus on just a few of the financial details, you can still have fun building websites AND make a lot more money in the process.
One of the most important parts of running a successful web design business is maintaining a high profit margin. If your profit margin is 30%, you will have the cash you need to grow your business. Anything less and you may find yourself on the proverbial "treadmill."
Running like crazy, but not going anywhere.
Let's use a $3,000 website project as an example. That $3,000 has to cover:
- Advertising/Marketing
- Sales
- Web Design/Development
- Project Management
- Admin
- Overhead
Once you have paid all those expenses, including paying yourself for your time, you should have $900 in profit left over. If this is how you currently run your business… Congrats! You are well on your way to building a small empire.
If not, we need to talk.
I am looking for few web designers who want to expand their business in 2016. If you are interested, just reply to this email and fill out the following info:
Website:
Business Goals for 2016:
Phone:
Best Time to Call:
I look forward to your response.
Conrad Feagin
LearnWebDevelopment.com - Learn. Soar. Get Ahead.
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TechnicalLead.com, Inc.
PO Box 1355
McKinney, TX 75070
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