Let’s talk money & some simple ideas to help you manage your finances more easily with host, Julie Hood.
Come check out the full show notes at https://CourseCreatorsHQ.com/91
Check out Wave Accounting at https://coursecreatorshq.com/WaveAccounting
Get the Profit First book and resources at https://coursecreatorshq.com/ProfitFirst
KEY TAKEAWAYS FOR ONLINE COURSE CREATORS
- Understand your operating expenses.
- Consider your money reserves based on each phase of your course business (startup, breakeven, profit) including start-up capital. Starting an online business for free is a myth!
- Don’t forget to set aside for taxes.
- Figure out your accounting system.
- Determine your tracking system for expenses and receipts.
- Check out the Profit First! book and resources by Mike Michalowicz for a new way to look at your money.
Main categories of expenses:
– Operations & Tools (course hosting, email hosting, social media tools)
– Costs of Selling (advertising, joint venture commissions, credit card fees)
– Outsourcing (what kind of help do you need? VA, Accounting, Legal, Customer Support, Tech Support, Graphic Design)
– Monthly Services (Internet, Cell Phone, Insurance)
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