Top Rated Articles

Wedding Invitations Don'ts

By Sarrah Beaumont | 5 Rating | Published 2009-07-21 18:24:23

Much is already written regarding weddin...
Read more..

Car Bodywork Paint Repair Restoration Techniques - Spray Painting

By Mario Goldstein | 5 Rating | Published 2009-07-22 21:11:32

When buying a car one of the biggest cho...
Read more..

How Do I Make My Home Insurance Company Hurry Up?

By Anthony Peck | 5 Rating | Published 2009-08-07 05:45:36

Is there anything more frustrating that ...
Read more..

Do You Really Need Car Insurance

By Warren Fets | 5 Rating | Published 2009-08-21 03:45:27

There are many advantages to having car ...
Read more..

So What Do You Really Know About Fashion?

By Benedict Smythe | 5 Rating | Published 2009-08-24 15:48:39

Fashion is extremely seductive, slightly...
Read more..

Making Profits in a Home Business By Naz Daud

  in Business | Published 2011-09-15 09:33:07 | 126 Reads | Unrated

Summary

When will your new business start making profits This is one of the most important questions you can ask yourself as a home business owner

Full Content

When will your new business start making profits? This is one of the most important questions you can ask yourself as a home business owner. In fact it should be one of the first questions you ask before you even start to think about quitting your job and making the decision to work from home full time in the first place. So let’s see if we can provide some guidance to this important question.

Firstly it is important to recognise that no two home businesses are the same. While some may take only a very short time to make it into profit, others may take months or even years!
/>
It is vital to ensure that you gauge your own time estimates on the pessimistic side, because you may be funding your existence for a long while on savings before decent profits start coming in. This also depends on how you start. If you are working from home part time and you have another job to help keep the money coming in, there won’t be as much pressure on you to make profits as quickly as possible. Obviously the sooner your business starts to generate a profit the better, but it doesn’t matter if you end up taking a while when this is not your sole source of income.

If you launch into a home business full time though, you should be sure you have enough money put by to cover the period when your home-based business will not be in profit. This should protect you from the embryonic stage when instead of monies coming in you are required to invest your savings!

Research can help you to figure out how long your business might take to start bringing money in for you. Look into the lives of other people who are doing a similar venture to you and see how long it took them to start making profits. Join some forums and ask direct questions if you can. You don’t need to know how much they are earning – the information you need is regarding time rather than actual income, so most people should be helpful.

You can probably see why it will pay you to gauge your earnings pessimistically rather than optimistically. You also need to consider your own situation and business plan rather than just going on what other people tell you as every new venture has some unique characteristics. The more information you have, the better you will be able to figure out when you are likely to start move into profitability.

Many people try to start a home business in their spare time while they are still bringing in a full time income from employment. However much they may dislike their full time job, they know it is covering all the bills. It may also provide a certain amount of disposable cash to fund the new business. This all leads to a more positive start for a new business, because there is no pressure for it to succeed quickly.

And of course, the less you have to worry about the business bringing in an income, the more likely it is that it will do so. If you are panicking because there is no money coming in, you cannot hope to concentrate on gaining new customers and growing your sales.

Comments

Login to comment

About the Author

Naz Daud - CityLocal Franchise Business Franchise Franchise Advantages Home Franchise Opportunity

About OpenArticle

openarticles.com is an article website dealing with the collection of quality articles on a number of subjects including entertainment, arts and science, medicine, career, classifieds, computers, technology, culture, education, entertainment, health, wellness, fitness, diet, writing, world affairs and many more. Read more...

Follow On

Contact: Contact OpenArticles