How Much It Costs To Run My Online Business

So, how much does it cost to run an
online business? If I were to have guessed how much I’d be spending to run
my my company, I would have been surprised because I’m spending a lot. Now,
I’m bringing in a lot more so it’s worth it. But yeah, there are a lot of costs and
so, I’m just going to go through and tell you how much my company costs to run. So, first of all, let’s talk about
software. I am a YouTube producer. We need editing. We need design software. We need
project management tools. So first of all, let’s talk about the Adobe Creative
Cloud. I just opened up my last invoice from Adobe. Yeah, there we go.
Adobe. You can see here, it’s kind of small. 719.. So, $720 per month I’m
spending for Adobe software. That just seems crazy to me. It’s worth it. It’s
worth it, right? I am like open to the idea “What if I used another software?”
There’s free versions. But at the other hand like there’s so many things that
the Adobe Creative Cloud can do that we’re not doing it. Maybe we should start
using more of it. You know, that’s the kind of way I’m thinking like either
should we just go to the free stuff because we could do what we’re doing? Or
should we up our game on the editing arena or effects or something like that
those type of things keep crossing my mind. We’re on YouTube. Though people want
people not special effects. I know. Okay, another one is file storage. We use
Dropbox. I love Dropbox. Dropbox is amazing. But I do cringe at paying $321 per month. Every single month for that. So, it’s you know, a bill that comes
up every single month. So, just combining those two right there that’s already a
grant that’s going every single month towards editing software and file
storage. Now, I there’s a lot of different softwares that I use for calendars, for
project management tools. What I’m going to show you here this is called Kanban
tool. It’s an amazing piece of software. I used to use Trello. But there are some
things that even with add-ons and whatnot I couldn’t get Trello to do. And
this software actually saved me a little bit of money but I still, you know, I’ve
got a lot of users in there. Just watch this. When I scroll to the right, you’ll
see all the different steps. So, when a video gets done filming, we then have all
these steps that it goes through to get to the end. Okay, so there’s still even you
know several more things software things online programs that I’m paying for. So,
it’s thousands of dollars per month that I paid just for software. Let’s talk
about hardware. Okay, this is probably going to make us sound when I pick it up. I
invest hundreds of dollars each month in getting
new upgraded software. So, my lav mic, it goes down to a little box that’s in
my pocket that transmits and this receiver picks up
the signal and I’ve got it recording into my zoom, okay? So, we filmed 13
different channels or produced. And we did all the filming for 13 different
channels. So, I’ve got upgraded my equipment. I’ve got a replace equipment
that dies on me. And you know, like this Rhode Go, which is so amazing. 200 bucks
right there. You know, I bought the Canon 90 D what we’re filming on right
here. And I’ve got another video right there about why that’s the best camera
for YouTube. But as soon as that camera came out a month or 2 ago, I bought it
because I’ve been waiting for this camera for a couple of years. I’m not crazy
on equipment but I spent hundreds of dollars every single month on equipment.
Okay, now let’s talk about office space. Right now, I just have a monthly
membership to this space. This space is called kiln. It’s a pretty cool space. I
only pay 200 bucks a month. And it’s pretty cool because I get conference
rooms like this. But I don’t have a private office here. My private office is
a little further east and I love it. Now, that’s very pricey. I don’t want to
say the price. Because I’m spending more than I thought that I would. But it’s an
inspiring space. I will start to do filming there I’m just… Anyway, I’m doing
some changes to that space. I will be doing some filming there. So, you’ll see
that soon. But that is my office space. There’s out, there’s meeting rooms and
and it’s not it’s on the top floor of the building.
Awesome window views and whatnot. And so, that’s one office space. This is another
one and then I also have my home office. I had a barn door custom-built for that.
And so I had to pay for that and getting plantation shutters put in that room.
I’ve got a sound studio down in the basement. And I do filming down there. So,
it’s a filming ends and podcast sound studio that I’ve got in my home. So,
you’ve got to pay for all that. Or I’ve got to pay for all of that in my
business and and you know there’s monthly expenses that are I’m
paying thousands of dollars every single month. Now, that doesn’t count
my main use of studio space. Because where we do the filming for most of my
clients, we rent Airbnb’s. Yeah, that’s our studio. We find a place
that’s got a lot of awesome character. You’ve seen that on this channel. I
filmed a lot of episodes for this channel in these Airbnb’s. And so, I have to
pay for that. You know, it’s hundreds of dollars per day of filming. I’m producing
13 channels. So, we’re renting Airbnb’s all over the place. That’s thousands of
dollars per month. Now, I don’t do any marketing. So, I don’t have a marketing
budget but I do get asked to speak. In fact, this Friday, I’m flying out to
Washington DC speaking to an amazing group of professional speakers there
Teaching them about YouTube. Now, they don’t pay me for that. They are
reimbursing my travel in this case. But I’m not selling anything. But I know that
people are going to track me down and want to hire me after that. So, I love doing it.
I love teaching just giving away all my secrets for free just like I do here on
YouTube. And that’s kind of how I do my marketing. And I do a lot of traveling.
I’m going to the Philippines. I just got back from Miami. And that’s thousands of
dollars per month. Now, I’m a very, very big believer in personal development. I
mean on my phone, I’ve got access to hundreds and hundreds of books that are
about marketing are about YouTube and about entrepreneurship. And just overall
personal development. I’ve got hundreds of them that I’ve listened to many that
I’ve listened to many times. And so, I’ve invested a lot and that’s a small
expense. But right now, I spend thousands of dollars every single month in
coaching for people that have achieved things that I have not yet achieved. I
hire them to coach me. And I grow. That’s why I feel like I’m growing and
becoming a better person every day every month every year. Because I invest so
much money in coaching. Okay now, let’s talk about payroll. I’ve got a good-sized
team. I’ve got 16 people that work with me. 2 people that are kind of part-time
that are on my filming team. They work for me when we’ve got filming days, right?
We’ll have a client flying to Utah. We’ll film 20 episodes in a day and my
filming team come. It comes and does that. But I’ve got 14 full-time employees in
the Philippines. Now, let’s just say total
across the board. I guess like I feel like I don’t want to share how much I
pay my filming team here. But I talk a lot about why I hire people in the
Philippines. I’ll link to a video right up there. So, watch that one next why I
hire people in the Philippines. Here’s one reason: For all 14 of them, the
monthly salary is around $7,000. So, if you average that out 7,000 divided by 14,
people that’s an average of $500 a month. That it costs to hire somebody full-time
in the Philippines. It’s worth looking into. So, go ahead and check out that
video why I hire people in the Philippines or you can you can go to the That’s where I find these people there. They’re
amazing people. I’m going to go there. You know about a week and a half and meet
them again. So, I’m sure there’s a lot of things that I didn’t think of about cost
of my business. But there’s a lot… There’s a lot of costs in there did you add it
up. If you have a number for me, go ahead and leave it in the comments below and
then remember go watch that video next about why I hire people in the

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