How do you manage the profits of your business?
- Thread starter Stardom22
- Start date
That is good, I also save for my next business broom selling online and fashion boutiques online too.
I think the business owner can do both. Reinvest part of the profits to make improvement on the product, add new products or expand new market sectors. Part of the profit can be saved in the bank for emergency use.
I will divide the profit into two and reinvest some of the money into the investment. The only condition that will make me to reinvest all my profit is when am financial stable without pressing need.
After failing in business several times i learn few lessons as never use your business items personally without paying it and in first year of business reinvest 60% of your business profit again in the business so it will grow better.
@SHAHID987 , You can still revive your previous business and promise to yourself not to repeat the same mistakes again. It's good to learn something from our actions to serve as an inspiration.
You have a very important point because when you manage the business well, then the profitability will be increased.
Well, I am a cryptocurrency trader and a Forex trader as well. I tend to invest money in profitable trades. I certainly do invest profits in trades and assets that have the potential to grow faster.
