How do you manage the profits of your business?

[Stardom22]

In most circumstances many businessmen would prefer reinvesting back the profits into the business. However Others spend the profits to cater for their personal needs. What do you think?

 

[Starmix]

I save in the bank the profit of my business. I do it every Friday saving the sales of my milk tea selling business then pay my sister the cashier of my business.

 

[Bisolami]

I save in the bank the profit of my business. I do it every Friday saving the sales of my milk tea selling business then pay my sister the cashier of my business.

I always save the profit and there are some times that I will just have to invest again so that I will have more money

 

[Starmix]

I always save the profit and there are some times that I will just have to invest again so that I will have more money

That is good, I also save for my next business broom selling online and fashion boutiques online too.

 

[Springtime]

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.

 

[Shavkat]

For now, I just keep the profit in the wallet of my online shop using the e-commerce in my country. I am planning to use them before the end of this year, which I did last year.

 

[Magnus2022]

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.

 

[Starmix]

My profit in my milk tea selling business is deposited in the bank daily. That way I can make a weekly inventory about my total expenses of procurements, salary and rent of the space in the mall.

 

[SHAHID987]

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.

 

[Starmix]

@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.

 

[Reedex]

The profit made from a business could be reinvested into the business in order to make more money and it could also be kept as savings because of unforeseen occurrences.

 

[flower]

The profit in a business could be managed critically if there is adequate and enough understanding because you will need those type of things to make success in any kind of business that you want to try.

 

[uptrendfinancialsignal]

The profit in a business could be managed critically if there is adequate and enough understanding because you will need those type of things to make success in any kind of business that you want to try.

You have a very important point because when you manage the business well, then the profitability will be increased.

 

[Passiveearner]

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.

 

[eldavis]

It depends though, there are times where i use the profits i get to manage my business or i simply use it to buy other courses to improve my skills.