Today I want to visit a subject that is just as important as the ability to make money online, perhaps more important in my opinion: controlling costs.

First, a really important concept…

COSTS exist before INCOME

Everybody starts life with basic costs (food, housing and clothing). The fundamental reason why you earn money is to cover these costs. They will not simply disappear if you stop earning money.

Of course, once you cover these costs, you’re free to create yet more costs in your life such as a car, a social life, better food etc. as Maslow’s trusted Hierarchy of Needs dictates.

The same is of course true for small businesses: Revenue does not start from day one, but costs often do.

So it makes a lot of sense to learn to control your costs, both personally and in business.

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