Alright, really interesting video today and the reason why I’m making this is one of my clients he was asking me how he can actually scale the business faster? And so I wanted to share this with you.
How to spend money you don’t have to grow your business faster? And I think this is the ultimate advantage in business and almost everybody has access to this, right. The answer is credit cards, now before you let your misconceptions play a big part on your decisions just hear me out, okay.
Credit cards when used wisely are an advantage and let me prove that to you, right. So there’s good debt and there’s bad debt. Good debt is one that builds you and bad debt is the one that robs you. Credit cards used wisely can be used as an instrument to grow your online business but this is the most important warning, right.
My client has his numbers down, he knows that he’s gonna spend money, he’s gonna make money, right. Because we’ve worked on a sales cycles and we’ve worked on getting him paid upfront.
So the sales cycles are as less as one day, anyway. If you’re interested in learning that as well just go to gifunnel.com, that’s gifunnel.com and I can show you how you can actually get paid upfront. Anyway, back to the presentation only use credit cards when you know your numbers are super super solid and you know them for sure. You’ve to be super sure, do not burn yourself by putting yourself into debts that you cannot pay back or you cannot afford.
So if you spend a $1,000 and you make $1,200 back and you’ve been doing it consistently for a couple of weeks but you get paid after 30 days. Use credit cards to spend $2,000 and make $2,400 right. I’m pretty sure that makes sense.
So let’s say you promote an affiliate offer and you spend a $1,000 to buy traffic and the affiliate offer makes you $1,200 back. But the affiliate offer actually pays you after 30 days so it’s a net 30 day payment.
So when you get paid after 30 days you can actually use those $1,200 to pay the credit card bill and now you’ve an extra $200 that you can put back, right. So once you know your numbers you can actually just go and use your credit cards to spend $2,000 and make $2,400.
You can spend $10,000 and make $12,000 that would make you $2,000 richer and again I really really wanna emphasize this point that you’ve to know your numbers, right. Credit cards also when you spend money on that it earns you reward points which is a fabulous bonus because you can use that for business travel and stays or you can take a holiday with it but I always recommend using it for business travel and stays, right. Because that’s what paying the bills and everything.
So the best part it’s not your money and if you paid on time within 30 days I guess it almost has 0 interest rate depending on where you are, where I am. I think it’s 0%, right. So 0% interest rate is charged and you can have a limit which is higher than what you have in the bank.
But again, the only case in which I recommend you use credit cards is when your sales cycles are less than 30 days. So if you’ve a 15 day sales cycles essentially meaning that the person comes in contact with you they give you the money after 15 days.
You can grow much faster but even if it’s a 30 day sales cycle where you get paid after 30 days you can use that credit card and put a limit, like you can spend much more than you can afford just to grow your business faster and that’s how you do it. Just make sure that you know your numbers and credit cards used stupidly. I also wanted to talk about this, right. So there’s two sides to a coin.
So I wanted to talk to you, I’ve already spoken to you about how to use credit cards wisely but you can use credit cards stupidly and that’s what a lot of people do. They buy stuff that they don’t need to show off and impress people who aren’t even worth impressing. People who matter really don’t care whether you wear Gucci belt or you know Balenciaga sneakers or just plain polos.
Don’t run into debt trying to impress somebody else. If you already have some debt you already have a disadvantage because you’re not starting from zero you’re below zero, right. And as long as your sales cycle is small and you’re 100% sure about your numbers, credit cards are amazing and you get rewards too which is an additional bonus.
So 15 days and 30 days that’s the maximum sales cycle that you can have. “Money is in the follow up” is bullshit if you’re not making money at all within the first 30 days because there is a very low chance of you converting, somebody who’s seen at least a few emails from you and they still don’t buy. Nothing is gonna change their mind, like there are cases in which they might buy later but I would rather bet upon money in the bank than hope to get conversions, right.
So the reason why I’m making these videos, these tutorials and everything is because I’ve interacted with a lot of people on a daily basis, right and this was from one of my clients worked with me. And you know he wanted to know how to scale the business. He was averaging a good amount of dollars every single day which is something that I can help you do.
You know but before he started working with me he was doing all sorts of stuff and that tends to happen I’ve done a lot of stuff and failed at it. But there is an online income pyramid that I talk about on almost all the videos that I make because I think it’s really important for people to know and not a lot of people talk about it but you should definitely know what the online income pyramid is and how it’s directly affecting your ability to generate commissions and sales online. I’ve actually made a video.
So if you go over to gifunnel.com and spend some time learning the fact that you’re literally risking everything to build someone else’s business. Just go there, take a look, just figure out why and how, in fact it’s affecting your ability to generate cash. The website is gifunnel.com. I’m Prashant and I’ll talk to you soon. B-Bye.