Keeping Track

[Patrick]

If you're opening a new forum, it's really important that you keep track of all you're expenses.

From the moment you register your first domain and buy your first server, you need to be sure to keep track of exactly how much money you put into the site, that way it is clear how much money you are actually making.

Start a notepad file, or if you're good at them, an excel spreadsheet (which I've never been).

I really wish I had done this, mainly because I feel success is from the inside out, starting with organization.

[Patrick]

And I totally posted that in the wrong forum. Sorry! Guess I was one category too far up :)

[Savage X]

Not a problem. :)

Good tips, too. This is actually similar to a thread I was just about to make. I think it is important to keep track of your expenses. Keeping things safely on file will always help you in the long run, especially when you call GoDaddy and they want information you don't know off the top of your head. :p

[Patrick]

I also think its important because once your in the profiting stage, you can break it down and decide where your earnings are going to, like maybe...

25% Future Server Bills
25% Future Forum Projects
25% Gas Money
25% Personal

Or things like Advertising, Custom Templates, etc.

or maybe...

Adsense - Future Server
Paid Subscriptions - Future Forums

etc.

[Daniel]

This is something I strongly wish I would have done from the get-go. Because I didn't do this from the start, I'm unsure of just how much I've actually had in net profit or how much I've spent on the site.

[Patrick]

Daniel, you should look into Gnucash, at www.gnucash.org (http://www.gnucash.org), its free finance managing software :D