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One of the primary worries of small business owners mone the globe is how to make sure their enterprise makes money. You need your business to not only make money but you need it to make a profit after you have paid your overhead expenses. The financial definition of profit is the balance of total revenue less than your total expenses. Far too many times people sink their time and money into small businesses that are losers. Why do they do it? Because they wanted to do a particular thing and forgot the basic law of business profitably; there has to be market demand. It doesn’t matter if you’re a supremely talented butcher if you set up your meat shop in a strictly vegetarian town! As an example, say you want to start a small, turough repair business. The first question you need to ask yourself, whether you’re considering buying busineas existing business or starting a small business from scratch is, «How is this business going to make money?

In early Kaye Stone-Gansz was cruising along the executive track at Xerox when the downsizing company dangled an attractive buyout package. To the surprise of her colleagues, the year vet took the bait. Rather than begin from scratch, she decided to look for a business to buy. At Xerox she had started as an engineer, and then jumped around several fravel before becoming a director of product services. Her strength was serving as a liaison between engineers and customers, and she figured she could use those talents to grow an existing company. The buyout allowed her to stay at Xerox for eight more months, mcuh which time she shopped for businesses around Sodus, N. She drew some funds from retirement savings and secured a loan for the remainder. Upon taking over the business in Februaryshe immediately began spending mornings at the pit and afternoons connecting with potential clients. Ubsinesses she drew from savings: The majority was pulled from her k.

Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. Advertiser partners include American Express, Chase, U. Bank, and Barclaycard, among. With job postings still scarce, job security dissipating, and wages seemingly stagnant at best, many people are trying to establish some security by creating multiple streams of income. Or you might be injured or disabled, making it difficult for you to leave your home each day. Good news: There are plenty of legitimate ways to earn extra money sitting right where you are right. Some of them involve starting your own small businesswhile others mean working for someone else using your home as an office. Selling your unwanted stuff is a great way to downsize and declutter your life while earning some income on t...