Now even though I run ads for a living, I’ll admit…
Yes, Facebook ads can be expensive.
At least in an absolute sense.
Some businesses spend $100K/month on ads. Others a million plus. That would be an enormous expense for many business owners.
But like so many things in business, context matters.
Let’s say you spend $100K on ads. Sounds expensive, right?
But what if those ads bring in $200K in revenue over the next week?
And what if you were confident those leads and customers would bring in another $500K over the next 6 months?
That’s $600K in total revenue.
Is $100K spent on ads still expensive?
It’s all relative.
Here’s another way to look at expensive.
Let’s say you spend 100 hours on a project.
Is that expensive?
Again, it depends.
If you place a high value on your time, you’d say it was expensive. Because you know how much your time is worth.
But if you expected those 100 hours to bring in $100,000…
That would make your effective hourly rate $1,000.
And depending on where you’re at in your business, that might be fantastic. Or it might be unacceptable.
But if you spent those 100 hours fumbling around, not sure they’d even bring in $10,000…
That would be a problem.
Especially if someone else could have done it in 20 hours instead.
And used their expertise to get you a much better result than you could get by yourself.
And while all this makes sense on paper…
There’s something I’ve noticed about how some entrepreneurs and business owners make decisions.
They’ll say time is important…
But based on their actions, they treat time as a limitless commodity. Like only money is expensive.
There’s a quote I read recently that’s something like…
“If we spent money as poorly as we spent our time, we’d go bankrupt”
Here’s the problem.
There’s always an opportunity cost.
One yes means dozens (or hundreds) of no’s to everything else.
And if you don’t spend time as wisely as you spend your money…
That’s a problem for your business.
Plus there’s also the hidden costs…
When you spend 5x more time than an expert would take to do something…
Your competition gains an advantage. Because at least one of them treats time as expensive and acts accordingly.
Which usually means they attract the people you could have served if you’d launched earlier.
So if you’re not sure about Facebook ads… or think they’re too expensive…
It’s time to consider what the real cost is.
Because plenty of businesses are making Facebook ads work every day.
So the question is…
Will you be one of them?