$5k a month is not enough anymore please help me!

Hello, i make arround 5 - 7k a month from my internet business.That is good earning, but there is one huge problem!When i hit 7k a month my expenses were like 500$ a month ..so the rest was pure profit. While time was passing, i kept thinking i`m a boss, and i kept hiring people, invest in different projects with strangers, invest in others ideeas than investing continuously in my ideeas that made me happy untill now.I would like to know a serious advice because i`m kinda tired of lossing my money on others.And also i turned in a lazy person after i started to earn nice online, and i`m affraid my earnings will stop.
I pay like 5k or more a month on services, 3 dedicated servers, some other hosting for projects with different guys, and i feel like more than 90% of my money goes on the window to strangers.I been in partnerships with some guys for 6 months and i kept paying them different small investments like 100$ for this..100$ for that..and untill now i keep receiving only fake promises. Should i stop any cooperation with the guys or should i be more patient and wait the results to show up. 6 Months its kinda a lot of time to see results...

Thanks in advance!

 

6 months with zero return is bad you should always give dead lines when you hire people. so your making around $700 net a month if that and your doing $7000 gross?? can i ask what services are costing 5k it cant be just servers?

 

Yeah no kidding. It seems like you are just wasting your money on useless crap, investing in useless crap and hiring people that cost more than they return. Depending on the business you can always upscale and/or rinse and repeat.

 

Well i think you should try think about the 80/20 rule. Cut down on expenses which aren't giving you results and work on the 20% that does. Also sounds like you should straighten things out with the people you hired.

 

I think it is better for you to find a good company or a good designer/coder/whatever in your region. Don't hire people over the internet anymore. Unless on Odesk maybe.
People tend to ask much money for small things like logo designs etc. Imagine hiring somebody to work full time for you. that would cost like 2000$ a month maybe. I'm sure that would get a lot more done.
I think the best for you is to find a company that can give you a whole variety of services, instead of hiring a couple of people yourself.

 

Start short listing people who are giving you negative returns customers or employees. Unless you get your spending under control you're going to go out of business. I can already see it starting to happen with you, so I would start doing some radical cost cutting.

 

Sounds like you're just getting taken advantage of. Have someone tell you, "Hey, I got this awesome idea, and it's going to be better than Facebook!", then drop thousands of dollars on him. Time to start kicking your "partners" to the curb, me thinks.

 

Hello, i saw a truth in all the posts. It seems money made me lazy. I will stop all the partnerships and i will start working myself again . I think its better for the earnings.I was thinking i can be a boss earning 7k ..and then investing all to get more. But i see now that the only things i have to invest into are my ideeas!

 

There must be a problem with where you are investing the money. Could you share where you are throwing 5k into investments?

 

hand me 5k i can do better then that lol that sucks my friend.

 

You need to take a serious look at where your money is going and get rid of the deadwood. I agree with the 80/20 rule.

 

What this sounds to me is like you are just throwing your money away in useless crap.

Set your priorities, and then base your expendings on that.

If you are going to start a project with some partner, then please be sure he has experience, dont hire some fag...

 

Well looks like you need to learn two things - risk management and personnel management .

 

Sounds like you've hired some bad people.
I don't know your business, but you should really move on.
Try too find someone who is qualified for the work you need.

 

Hey bigot, what does that have to do with anything?

 

Would you hire an idiot to do a work, he is going to charge you for shit...?

Get it..?

 

Ok. Slow down.

First, whats the reason behind the hiring all those people and needing all the extra expenses?

 

When a business gets to a certain size, you realize you can't do it all yourself. You then have a few choices.

You can hire people to work for an hourly wage, but then you have to supervise them. And if you can't verify that they're putting in the hours, then you risk them taking advantage of you.

You can pay for each service, but then you only get people interested in your project if you give them something. There's no incentive to build the business with you. They perform the service and you exchange money and as long as you give them money they will keep giving you their service. If you aren't satisfied with the service, then you should stop giving them money.

The third option is to add an incentive program to the business. For instance, if your primary income channel is AdSense and you have people providing you content pages, tell them you'll pay them 50% of the revenue from the pages they create. Then they have an incentive for writing good pages that lead to AdSense clicks. If they don't make any money, then they'll move along on their own. I helped someone grow his business by 500% on an incentive program. I made 50% of revenues managing the content service. Today, we still have business and some of the same customers. I'm not rich, and neither is he, but we have steady income because we both worked. Note that an incentive program doesn't mean you rest and do nothing. You still have to keep a finger in the business, tighten nuts and bolts, train managers beneath you, instill your vision into people, etc. Maybe even sell stuff.

The key is to figure out what you are best at and what you enjoy most. Then find people who are good at other stuff that are necessary for your business to function. If you can incentivize it, then get them to work on incentives. If that's not possible, figure out what it's worth to you to pay that person to perform the service - but make sure you can fit it into your budget and still turn a profit; otherwise, it's pointless.

 

You should keep doing what you are doing so far. Keep paying the people who work for you until you get what you expect.
6 months period is not enough to get an idea about most of the business models in the World.

How many financial professionals can advise you to buy some Google's shares to sell them after 6 months?
Most probably they will advise you to invest in shares for a few years.
You have be patient if you have business which you have invested $5k /month since 6 months unless you really want to throw your $30k to a waste basket.

 

No, I don't get why you call someone who does no work, a "fag"

Can you explain why you feel the need to associate an idiot with a "fag"?

Please tell us all how calling him a "fag" does anything other than show you are a bigot?