Very quick post today. I want to teach you that you may be leaving money on the table thanks to your website CAPTCHAs, and how to avoid it.

But first a parable of sorts…

Imagine, if you will, an advertiser with a big wad of cash. They NEED to spend it and they’ve left it very late, so they’re not too fussy about the ROI (believe me, this happens all the time when businesses confuse budgets with spreadsheets!).
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Something is happening in the UK corporate bond market. Hurried conversations are going on behind closed doors and new products are being launched by the banks left, right and centre.

But why? And why should you care?

Interest rates on our cash savings are absolutely crap at the moment, generally no higher than 2.5% pre-tax. Current inflation is 3.2%: meaning our cash is worth less and less each year.

The logical next step for Joe Bloggs saver is to consider locking that money away for a year or two in a fixed term product such as a bond. This will increase the interest rate to around 3.2% pre-tax guaranteed.

Still a zero sum game.

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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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