Tips to make profit in business??

**saria19** · 04-02-2010 07:14 AM

Hello Friends

1)Start on a shoestring:Think small. Don't rent premises if you can work somewhere else, and don't hire employees until you can keep them busy.People who start their small business on the cheap, often in a garage, den, or some other scavenged space, and create their first goods or services with more sweat than cash, have the luxury of making their inevitable rookie mistakes on a small scale. And precisely because their early screw-ups don't bury them in debt, they are usually able to learn and recover from them.

2)Protect your personal assets:When you go into business for yourself, you are usually personally liable for all judgments and debts that the business incurs. This includes business loans, taxes, money owed to suppliers and landlords, and any judgments against the business as a result of a lawsuit. If you don't protect yourself, a creditor can go after your personal assets, such as your car and your house, to pay for these debts.

3)Understand how -- and if -- you will make a profit:You should be able to state in just a few sentences how your business plans to make a substantial profit. For starters, you need to know your costs: how much you'll spend purchasing inventory, paying the rent, compensating any employees, and covering what is likely to be a surprisingly long list of other costs. Then you can figure out exactly how much you need to sell each month, for how many dollars, to cover those expenses and have an adequate profit besides. These numbers are all you need to create a "break-even analysis."

Thanks for reading

**jim123** · 04-05-2010 06:16 AM

Hello
It was the first real website I ever started and has been very good to me over years. I learned most of what I know about home business, internet marketing, making money online, and SEO from building and marketing this very site. It has also made me a lot of money and put me in contact with many people whom I now call friends.

The decision to sell was not one that I took lightly. I've lost a lot of sleep recently while lying in bed at night trying to decide if I could possibly part with it. I came close to tears a few times too. In the end I really had no choice. The reasons are personal so I won't get into details, but selling it is about the only option I have right now.

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**carl12** · 04-05-2010 02:35 PM

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Keep sharing such Useful Information with us...

Thanks & Regards
carl

**Rayz.Mario** · 04-05-2010 03:53 PM

Clients are offended and inconvenienced by poor timekeeping. If you are unavoidably delayed call them; explain; invite their understanding or suggest an alternative in order to avoid inconveniencing them.

Customers are not stupid; do not treat them as though they are. Explain what has gone wrong, what is necessary to put it right and why.

It is infuriating to be given a bill without a break down. If you do so you invite the allegation that you are cheating or over-pricing. Again, transparency keeps customers happy. Happy customers are your best sales staff.

**chris27** · 04-10-2010 05:03 AM

Good point of discussion,I must say.The points which I want to add here are:
Save up as much money as possible before starting
Start on a shoestring
Protect your personal assets
Understand how -- and if -- you will make a profit
Make a business plan, no matter how short
Get and keep a competitive edge
Put all agreements in writing
Hire and keep good people
Pay attention to the legal status of your workers
Pay your bills early and your taxes on time

**sophie17** · 04-11-2010 08:59 AM

That's are great Tips Which You have shared here With us,I Found it very Informative for myself
Keep sharing such Useful Information with us...

Thanks & Regards
sophie

**maclane** · 04-14-2010 03:53 AM

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Thank you for sharing
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maclane