Lose Money to Make Money | Case Study Dash Cams Ireland

Did the title get your attention? Good! This may sound silly but there is a lot more to it than meets the eye. The fact that you need to lose money to make money has several layers to it. Have you ever heard about how Richard Branson was millions in debt when he started his record store? Ok that is an extreme example but many millionaires and successful entrepreneurs have been in trouble at one stage or another, in fact it almost comes with the territory. This is even more so true online where you need to invest money in SEO, ads, content, design and general setup before you make a penny and of course like anything making a penny is not guaranteed.

Another example of this is selling a product that creates a return customer. A good example of this could be a supplement brand that is selling protein at a discounted price. They may not make much or any money on this sale as they are running a deal but they may if done right have created a customer with life time value. That customer if happy with the product and service may order again next month or down the line and thus you have made very little money to make more money down the line.

Another example of this would be one website we have worked to help them set up Google Ads. The owner was not overly familiar with online marketing so we had to convince him that spending money up front on Google Ads was a good investment. His website sells dash cameras and he slowly began making back his initial investment and now he starting to get a good bit of business. This is the case with many businesses and believe it or not is the reason that many people back out of starting their own business. They simple cannot get past the fact that they have to spend money first and they are afraid to make the leap. This is totally fine and normal but no risk no reward could not be truer words in this case. So keep this in mind when trying to promote your business and know that long term is key!