Mika
VIP Contributor
The primary aim behind starting a business is to make profits. However, whether you make profits from your business or not is determined by a lot of things.
If you want to start a profitable business, you need to first address the following issues:
Do you have time to devote to your business?
If you already have a lot of engagements, a job for example, how can you devote time to your business? Can you juggle a lot of things at the same time?
How long can you wait for the profits?
Most businesses cannot make you profits for at least one year. Can you afford to not be profitable right away? How are you going to sustain your business if you are not earning from your business?
Can you take the risk?
There is no guarantee that your business will succeed. In case your business fails, can you sustain the loss? Can you inject more money to restart your business?
If you want to start a profitable business, you need to first address the following issues:
Do you have time to devote to your business?
If you already have a lot of engagements, a job for example, how can you devote time to your business? Can you juggle a lot of things at the same time?
How long can you wait for the profits?
Most businesses cannot make you profits for at least one year. Can you afford to not be profitable right away? How are you going to sustain your business if you are not earning from your business?
Can you take the risk?
There is no guarantee that your business will succeed. In case your business fails, can you sustain the loss? Can you inject more money to restart your business?
