The Journey Of PrizeFast! – Week 5
Posted on 22. May, 2009 by $haz in The Journey of a New Incentive Owner
This post is from Gabriel Hunter, the owner of www.prizefast.com. He is a new and upcoming incentive website owner who will share with us his journey into the incentive industry and his experiences of starting an incentive website. He has started from scratch and will be talking about his ups and downs of this industry. Here is what he has to say in his fifth post!
There is one very difficult stride that every new site owner has to overcome. And that is the net 30 threshold. But, it’s been roughly 51 days since the site’s opening and with affiliate accommodations, I managed to get net 20 and net 25 payments. So today, I think everyone can agree, is a very good day.
For those that have followed Shaz’s blog since the beginning, you’ll notice that he gives a lot of advice that can only be given from a person that has lived and experienced the industry. One thing he mentioned was the re-investment of funds for the first 6 months of a site’s operations. That’s a very good piece of advice and I’m following it because logically speaking, it makes sense.
Most of the profits will all be spent on my next strategy for PrizeFast which I’m going to reveal very soon. I’ve been working on this for weeks, even months in reality and its going to be something special.
But let’s face it, we tend to think we’re always above our human nature, but most of the time, we’re not. In my calculations for my profits, I over-calculated some numbers. Well in fact, I didn’t, it’s just when I do my financial analysis I follow rather strict accounting guidelines. In accounting there is a principle which I can’t remember the name of right now, that states to always assume the most costly alternative if presented with multiple scenarios. I tend to calculate my numbers rather pessimistically, meaning I assume my numbers will be lower more so then higher. Anyway, long story short, I have a little more money left over then I expected.
The smart thing would be to re-invest the money, but hey, I think I can indulge myself considering the fact that I worked my ass off for the past 8 weeks.
So, I went ahead and bought a brand new Head YouTeK Speed Pro tennis racquet as well as a ton of swagger for my game. Oh by the way, did I mention I’m tennis fan.
I think this was the hardest part of being a site owner, the beginning. My initial and primary goal at the time was to have a solid start to create a dependable foundation. Simply put, my plan was to be able to swim with the sharks.
Now however, the stage is different and my goal is to become the best incentive site in the industry – this is something that I set for myself when I first started planning the business. And that’s all good and well; however, ambition in its solidarity is meaningless. The fact is, ambition has to be accompanied with a certain mentality and a solid strategy.
Times are tough right now, I’ve said it before. But money is changing hands so there is opportunity – which means there is market share that is available for the taking.
The next few weeks are going to be very exciting – and I’m going to tell you exactly why in my next post.
Until then,
All the best.
- Gabriel Hunter
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