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---- how to take out profit from an expanding business


httpwebwitch - 6:35 pm on Feb 16, 2012 (gmt 0)



A lot of businesses start that way, riding 100% on the founder's sweat until it gets momentum. That's normal. But it's not sustainable. At some point along the success curve you need to stop re-investing every penny the business earns, and put some in your pocket.

If your profit isn't high enough to do that, then you need to raise prices, increase the margin, lower costs, or whatever it takes.

Lots of people are successful, busy, and broke. Don't be one of them.
If a business can't be successful AND earn a profit, then it's a failure.

Unless your business is rescuing drowning kittens or something with a non-financial motive. Then it's not a business, it's just a complicated NFP hobby and you should apply for charitable status for the tax benefits.

You own the Business -- not the other way around!


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