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Hey everyone, my names David � and its question time.

This is our weekly series were we take a closer look at a question which one of our viewers

left in the comments section from a recent video of ours.

If youve got a question of your own, dont be shy!

Leave it in the comments section and Ill be sure to read it.

Okay, so heres the question Ill be answering today:

So, this one is from Tadiwa, who is asking how much money they would need before they

start their own store.

Thanks for that question, Tadiwa.

When youre getting started with your Oberlo dropshipping store, there are certain expenses

which youll need to pay, like your monthly Shopify subscription, which will cost $29

USD a month.

When youre designing your store you can use a free theme, but you may want to spend

some of your business funds for custom designs, like a one-of-a-kind logo.

Id budget $20-$50 USD for this � but honestly, you dont need any custom designs

to make a sale.

You might also want to place some test orders before you launch your dropshipping store

� just so you can review the quality of the items which youll be selling, and put

yourself in the shoes of your future customers.

Id budget another $30 USD for this, but again, this isnt essential.

Now, when youre getting started with your store, theres no guarantee that youll

draw any visitors to your store.

And if you have no visitors, you wont be able to make any sales.

This is why its imperative that you budget some money for paid marketing campaigns when

youre getting started with your store.

And the question of how much money youll need for those paid marketing campaigns is

a tough one.

Really � it all depends on what youre selling, and who youre selling to.

With paid marketing campaigns, youre paying for clicks.

So, if you set up Facebook ads, youll be paying for visits to your online store.

Factor in the fact that the average global conversion rate is 2%, which means that youll

need to draw an average of 50 visitors to your store before you can make a sale.

So � its tough to give you a definitive figure to how much money that youll need

for marketing.

Id say a baseline that youd need to get started would be $150 USD, just so you

can test out some campaigns, find the correct audience, and hopefully start to make some

sales.

We do recommend trying out Facebook ads for your paid marketing campaigns.

If youre interested in learning more about them, well include some links in the description

to our Facebook marketing tutorials.

All in all, youll need at least $180USD to get your store up and running, and to draw

some visitors to your products.

Hope this helped you with your store, Tadiwa, and I wish you the best of luck to you and

your store.

Now, what about you?

Do you have something that you need help with?

Let us know below.

We check through the comments section every day and wed love to use your question in

our next video.

And if you liked what we spoke about today, consider subscribing, so you can get new videos

every week!

Are you confused about your numbers

or intimidated by your accounting software?

Would you like to really understand

what your accountant is saying

when they summarise your financial position?

Better still, would you like to be able

to call up a financial report at any time

and instantly know the exact financial position

of your building company?

However with no clear explanations in layman's terms

that relate to the construction industry,

how are builders expected to make any sense

of their financial reports?

When you understand your financial reports

you take full control of your building company

and you master your cashflow.

No more surprises when the bank account goes up and down,

you'll know exactly what is happening,

sometimes months in advance,

which allows you to plan your growth

or tighten up on your outgoings before it's too late.

Understanding your financials is not optional,

it is essential knowledge for every business owner

in every industry.

And it's even easier than putting together an estimate.

It only seems hard because no one has taken the time

to explain what the figures in your accounting system mean,

in plain, simple English.

Anyone who has ever run a decent sized building company

knows how easy it is to lose money

when the work on site slows up.

And if you're waiting for your accountant to tell you

if your building company has even made a profit,

six months after year end, it's already too late.

So that's why we've created an online course

for residential home builders

that explains in plain, simple English,

how to read your financial reports.

It doesn't matter if you left school in year 10,

or studied at university,

if you're the owner of a building company,

this course is for you.

We've done all the hard work for you.

All you need to do is watch the videos

where we take you through a typical balance sheet

and profit and loss report for a construction company,

as we explain what figures go where,

and what each term means.

You can even download a template that sets out

how your own balance sheet should be set up.

Once you've implemented the template,

you can then get your accountant or bookkeeper

to check and confirm that your balance sheet

is set up correctly.

Once you've mastered the terminology,

you can download a builder's forecasting template

that allows you to plan your cashflow for months ahead.

If you need help with how to forecast

for a construction company,

this course will take you through the process step-by-step

and give you a simple formula

for accurately predicting your future cashflow.

And if profitability is a concern,

we've also included a break-even calculator

with training for builders.

So here's what you get inside the

How to Read Your Financial Statements

Online Training Course for Builders.

You get the downloadable, break-even calculator

and training, the balance sheet checklist and training,

the profit and loss sheet checklist and training,

the downloadable forecasting template and training,

a mini exam to test your knowledge at the end of the course,

and a complete recording of

the Association of Professional Builder's Coaching Call

that guided our members through the course

and answered all of their questions.

It doesn't matter if you're located in Australia,

New Zealand, Canada, the USA or even the UK.

Our members are residential builders

from all around the world,

and have gone through this exact course

and can now understand their financial reports.

The truth is, you don't need to know

how to use the accounting software in order

to run a successful building company,

but you do need to be able to read and understand

your financials.

Your job, as the owner of the building company,

is to spend a few minutes each month

reviewing your financial reports

and then move on with your day.

When you have this course, you will be in total control

of your building company.

You'll know exactly how much revenue you need

in order to break even each month.

You'll be able to easily set financial targets

for the next 12 months.

You'll know the exact net worth of your building company.

You'll be able to plan the growth of your building company

so you can budget for additional team members

prior to expanding.

And most importantly, you'll know exactly

how much money you're making every single month.

This knowledge will put you in control

of your building company.

So go ahead, click on the link below,

to enrol in this course while it's still available.

There is no risk to you.

If you're not 100% happy with this course,

then let us know within 30 days

and we will issue an instant refund for you.

You can even keep the templates that you've downloaded

with our compliments.

Truthfully, if you're not 100% happy,

we do not want to take your money.

So go ahead, enrol in the

How to Read Your Financial Statements course today,

so you can master your cashflow.

I wanted to know how much you loved me !

and if you ( still ) remember me or you forgot me Oh , my darling !

I wanted to know how much you loved me !

and if you ( still ) remember me or you forgot me Oh , my darling !

I have been missing you since the day we separated

you experienced my absence from you , how could you ever leave me ?

I have been missing you since the day we separated

you experienced my absence from you , how could you ever leave me ?

I dont know why I thought about you , and I asked myself how you could love me seriously

and you could stay away from me for one day , and you could endure my absence when we had a promise between us

I dont know why I thought about you , and I asked myself how you could love me seriously

and you could stay away from me for one day , and you could endure my absence when we had a promise between us

I have been missing you since the day we separated

you experienced my absence from you , how could you ever leave me ?

I dont know why your absence effects me ( deeply ) !

maybe ! Oh , my love ! it's hard for me

I dont know why your absence effects me ( deeply ) !

maybe ! Oh , my love ! it's hard for me

is it possible that you forgot so fast ? you ( really ) have no loyalty !

so , where are your words of love and affection to me?

I dont know why I thought about you , and I asked myself how you could love me seriously

and you could stay away from me for one day , and you could endure my absence when we had a promise between us

and you could stay away from me for one day , and you could endure my absence when we had a promise between us

and you could stay away from me for one day , and you could endure my absence when we had a promise between us

I have been missing you since the day we separated

you experienced my absence from you , how could you ever leave me ?

- So, the market's getting crazy again.

We covered that in yesterday's episode.

The multiple offers are back,

limited inventory is driving buyers

to be a little bit emotional.

We we're gonna give you guys a tip

on how to navigate a seller's market.

And the first tip we're gonna give you guys this week

is gonna be, don't get caught up on the list price.

So list price is put there

by the listing agent to generate interest.

Sometimes they're listing at market value,

sometimes above, sometimes under.

A lot of times in the seller's market

they are doing it under market on purpose

to generate as much interest as possible.

The more offers they get,

the more likelihood that they're gonna

get above-market value with no conditions.

Which is a dream for any seller out there.

So say a property is worth 300

and they price it at 280,

some of the people going in

and writing offers on that property

are gonna get stuck mentally on the 280,

when the smart agents that are out there

are gonna look at the property value

and see where it's actually gonna sell.

So just be aware of what the property is worth

and don't necessarily get caught up on the listing price.

Posted by Unknown at 9:17 AM

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