My Monthly Business Expenses Breakdown… $74,934.11 Spent!!

What’s up you guys Jason Wardrop here and in this view I want to go through and break down our monthly expenses so for January 2018 I just kind of got our expense report from our accountants, and it was looking at that I was like you know what there’s some valuable things to go through and learn from here, so there’s three key things I want to share with you guys And then I’m gonna reveal kind of like the numbers and breakdown like each one and like how much we spend why we spend that Much and all that stuff so the first big thing is that when you’re first getting started And I actually this is what kept me from being successful for a very very long time so the first thing is knowing your numbers and Giving yourself a chance to be successful right so Sales is the numbers game at like straight to it like sales is a numbers game So let’s just say you go through and let’s say your conversion rate like if you make 10 calls You’ll make one sale right, but if you’re only making five phone calls You’re probably never ever gonna make a sale right so that’s really what happened with me when I was very first start in my business It wasn’t exactly that but basically I go through and I run webinars and so what I would do is I don’t have a lot of money. I didn’t have a huge budget to go spend on advertising So what I would do is I would go and say hey I’m gonna go get 40 or 50 people register for my webinar And then if I sell one person I’ll spend like five hundred bucks on the advertising buy so one person $1,000 ticket price I will double my money I’ll be super happy super pumped But what I didn’t know is that the numbers didn’t really work out in my favor if I only got fifty webinar registrations, right? It’s just didn’t give me an update. Uh if you look at the numbers statistics math all that smart people’s stuff It just didn’t really work out and then it hit me one day This is after probably two to three months of just doing this month in a month hour week in week out so do webinars every single week I Looked and I was like you know what? I’m not even giving myself a chance to be successful so then I went and I up my budget a little bit, okay It was a little bit of risk It was a little bit of faith in myself and what I was doing But I upped it from 50 webinar registrations to a hundred webinar registrations or 100 leads Let’s say, and I went through and I was able to see my real numbers And I was able to go through and actually make some sales and from there everything just started to take off right so Kind of relate that back to you, and I worked with a lot of real estate agents lots of times they’ll go through they’ll generate 12 to 15 leads in like a week or two and then they’ll like come to me and like oh like that none of the leads like none of these wanted to buy a home or Sell a home or any of that stuff, so it doesn’t work. I’m gonna quit. I’m done and they’re out right We’re like in my opinion my view from ice experience You didn’t even give yourself a chance to be successful. Okay, so that’s number one with whatever you’re doing I even if you’re starting completely from scratch. You don’t have a big budget be creative give your child a chance to be successful, right Second thing okay. This is key. This is huge. Okay unless I was actually becoming successful I hit a I set a goal of myself. I was like hey if I hit twenty-five thousand dollars per month Man, I will be so successful, and I’ll be like just ruining the dough. I’ll be able to pay for all my expenses Everything like my personal expenses business expenses everything and I’ll be set right So set that goal, and I actually got there a lot quicker than I expected. I got there in about 60 I don’t know a little over 60 days so we hit that $25,000 mark and then what happened is I kind of got my comfort zone right and I was just like okay. I’m comfortable spending this amount of money on advertising I’m comfortable making the twenty five thousand dollars, and we just hit this plateau okay for the next like four months We’re making like sometimes we hit like about thirty thousand moves like twenty-five to thirty thousand And we weren’t really growing that’s because we were doing the same exact thing. We’re spend the same amount of money I was just comfortable right and then someone’s like look you need a you need to go through Push yourself, okay, if it’s working if your advertising is working if your sales methods working Why not push yourself right like why not go through and invest more into advertising so you can make more money so you went through and we started a scale scale scale and It same thing happened at $100,000 guys like my next goal was like at a hundred thousand dollars per month We hit that and then is something that I continually have to tell myself of like okay You’re in your comfort zone push push push So in january was another month that I had to go through and push out that comfort zone The cool thing is we were able to increase revenue by over fifty thousand dollars so that’s another reason why i’m showing you guys these monthly expenses is because One thing that really I guess motivated to increase my expenses is I saw some friends what they were doing that we’re doing like more revenue per month than me and I saw how much they were spent on advertising I was like okay like that that makes sense like I need to go through. I need to push it my stuffs working I need to push it more and more and more to make more money and increase that that revenue right and then the third thing I’ve got my notes right here. Let me just check right here. Okay, so the third thing is when you’re making money Invest as much as you can into your advertising or into sales, okay? Whatever’s going to directly be related to sales Invest as much money as you can into that so sometimes. That’s going through and investing in improving your product Okay, and most of times. It could be in like sales guys. It could be in marketing and generating more leads It could be a number of different things so With that said let me just jump in and I’m gonna move my head so down in the bottom corner so you guys can see the the breakdown right here, so if we look at this and So you can see right here, this is my my numbers from January 1st 2018 to January 31st 2018 These are the numbers this is expense report. I just got from our accountants. I use a software called zip books They have like a free little free trial if you guys want to jump in there and use this kind of cool I have the paid one because I just don’t want to spend the time doing all this stuff So it’s nice that they go through and do it for me, so anyway if you guys look at advertising Okay, look our expenses total down here almost $75,000 right now. You look at advertising Spend fifty six thousand nine hundred fourteen dollars and 82 cents, so if you look at that. What does that? I don’t even know what the math is on that That’s probably like I don’t know eighty percent eighty percent of my expenses are all going towards advertising the reason why? So that key point number three as I mentioned guys when you When you’re going through and Mazin turn out your budget you want to put as much money as you can into things are gonna be Directly related to driving of revenue for your business Kay So lead generation right or if you’re like you you can’t you’re doing like phone sales and you just like I can’t handle all the calls myself hire another sales guy right so you want to go through and Invest the things are directly related sales now the nice thing is is I can put more money into advertising Because as far as sales goes It’s just getting more people on the webinar And then I’ll be able to be able to do a webinar for you know a few hundred people all at the same time which Is really a nice thing to do okay so then? So I got fifty thousand dollars in facebook advertising and Google ads was a little bit over six thousand but close to seven thousand I’m starting to test out with YouTube ads Google advertising, so I haven’t really nail that down. I think this month now I think we’re in the middle of February right now if you’re depending on when you’re watching this I’ve spent probably another five thousand or so, but it’s just kind of just like testing because It’s just a new traffic source. I feel like I’ve got Facebook nailed down I just want to go through and expand my traffic source right now this marketing one Honestly, I don’t even know what this is I don’t know why this marketing separate from advertising so that forgive me 300 bucks Is probably some type of software that should be in here But I don’t know so anyway, then you come down here. We’ve got software subscriptions and stuff. This is kind of like our You know our text messaging stuff our facebook Messenger platforms? Email marketing just we’ve got a whole different a whole bunch of different platforms. It could be some like the web sites You know some different funnel stuff, so that’s where the software subscriptions and also since we have our own software We have to go through and pay for servers and all that stuff and other softwares that help it move Help us with the software so that’s probably where that falls in line right there. Okay office expenses three hundred five dollars Honestly, I don’t even know what I got there it was probably something some little thing that I needed for either like these youtube videos go through marketing and Or just something to go through and help So should have done this a little bit better guys. I don’t know how optics expenses and supplies are either Travel so next week. I’ll be going to New York City for a marketing mastermind and so this is for my flights I think out to New York nice thing is my brother lives out there, so I don’t have to get a hotel I just could stay with him and have some fun. Then taxes. I don’t know if that’s employee tax or whatever I just I like the like guys whenever I like to just go through and stick to my expertise if you know like I don’t really dive into the accounting stuff, too Just because I’m like hey I don’t know about taxes accounting all that stuff let you guys kind of handle that and all that Okay, so merchant service fee refunds You know obviously you’re gonna have that from time to time payroll service fee payroll tax payroll salary and wages So this is not. I don’t think this is what I don’t think this is just like my salary cuz Anyway, I think this is a for our like our support fulfillment are different help there and so paying out our support team to go Through and help out with what? We’ve got going on here. Okay than consulting services I do remember where this one is for I feel like I’m really like good with Facebook advertising But I’m always trying to learn more so there was this company that they were saying hey We’ll go through dive in and pick apart your ads account for three hundred seventy-five bucks for an hour And so I had a one on one call with them And they’re I think they’re out of California or something like that and so it was super helpful. It’s always good Just kind of like keep up and Facebook as one is always changing, too It’s good to see like what other top guys are doing so you can kind of like get better as well And then this education and training. This is a little course I got on branding and stuff to kind of go through and help our whole business grow so anyway expense total Just under seventy five thousand dollars, but as you guys look at this? Fifty seven thousand of the seventy five thousand dollars was all spent on advertising Okay, now is going back to key point number three You want to invest as much as you can of your budget? Into the revenue generating resources the sales generated, so it could be as I was mentioning Advertising so more leads could be getting more sales guys or sometimes It could be investing more into your product right R&D research and development going through and you know with our software Investing in more developers and like we this month. We hired on another developer to help to go through and improve the product along Okay, so that’s kind of I wanted to just break this down for you guys and just hit those those three key points one more Time one give yourself a chance to be successful, okay Like I know sometimes it can be scary spending more money on advertising because you don’t know what the end result is I? Remember exactly how that was where I was like hey 500 bucks, man That is like that seems like so much money right now right, and it just seems like tons of money But guess what there’s a lot of other creative ways to go through and generate leads and get people to your Your business so you can call them, you can get them onto training or whatever that you do So go through give yourself a chance to be successful number two if you’re plateauing okay, take that leap of faith invest in yourself invest in your business and go take things to the next level right there’s always a Time and a place to scale up you can see right here on average was spending about two thousand dollars a day, okay I know people spend in twenty to thirty thousand dollars a day so like to me so it’s like some people like that might seem Like a ton of money, but to other people it’s like well. You only spent fifty seven thousand dollars on advertising That’s chump change I do that in two days right so there’s always a next level to go through and scale your business up, too And then number three actually kinda already hit that but invest in sales Generating activities right like if you guys can see like office expenses like a lot of stuff I just keep down as much as possible like we don’t like our whole team works remotely we don’t work in an office cuz I don’t want to go through and spend money on an office space right and Also our teams all across the country so it’s kind of difficult, but I want to be able to go through I’ve kept my salary very low for a long long time because I know if I invest back in the business It’s gonna be a lot more advantageous to the company as a whole so Anyway, guys. Hopefully that was helpful if it was go ahead give it a thumbs up also comment down below Let me know your thoughts let me know also What business you’re in and kind of like where you guys are at like are you guys just kind of getting? Started are you guys kind of like at you know a middle ground or like are you looking to go through and scale up? Let me know what business you’re in where you’re at and once again If you guys are brand new to the channel my name is Jason Wardrop and I launched a new video every single day on how to generate more leads make more money and grow your business so if you guys Are brand new here make sure you subscribe okay, so you guys can get all this cool awesome content and Hopefully at least one of you guys watching this it helped inspire you because I’ve watched some other videos I’ve seen some talked with other friends. We’re going through and breaking down their monthly expenses it actually helped me to go through and be more confident in spending more money on advertising and going through and growing and Taking to the next level right so anyway once again guys Hopefully you enjoyed this give it a thumbs up if you did comment down below subscribe With that said I will see you all actually not tomorrow. I usually don’t do videos on Sunday, but I will see you on Monday

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4 thoughts on “My Monthly Business Expenses Breakdown… $74,934.11 Spent!!

  1. Hey Jason!
    Thanks so much for the great content. Your channel is fantastic and we are learning a lot from it. We are a video production and digital marketing agency in Atlanta, GA that focuses in the medical space. Do you offer consulting packages? We’d love to get your insight for marketing in the medical world. Thanks!

  2. Hey Jason!
    I really want to start. I am only 16 years and live in Austria.I‘m not sure what I should do I‘m thinking about to buy Tai Lopez‘s Program. Can you somehow help me ?

  3. Hey Mate, this is great video and super helpful when determining how to grow when you hit a plateau. You putting out great content regularly is sick man keep it up. You haven't done a google ad words video I've missed have you? Really keen to understand that platform now after getting confident with FB ads. Cheers from Australia

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