Tag Archives: profit

Selling Your Home Business, Part Three

In the first two parts of this series on “Selling Your Home Business” I wrote about how business structure and the type of home business you are operating can affect how you are able to sell it and I also wrote about how to find a buyer and how to determine the value of your business. Once you have sold your “baby” however, it comes time to make the transfer. The transition of your business to the new buyer can take time, tact and care… Definitely give your customers and/or clients plenty of warning that you are selling and have … Continue reading →

Selling Your Home Business, Part Two

Earlier today, I wrote in the first part of this topic on “Selling Your Home Business” about how the type of business structure and what your business does can affect your ability to sell it if you should decide you are ready to get out of the business for whatever reason. I want to also talk about how to figure out the value of your business and what to look for in a buyer. Setting a value on a home business can be tough. After all, most of us do not have property that is separate from our house and … Continue reading →

Selling Your Home Business, Part One

The day might come when you are ready to be done with your home business. It may be that you want to do other things, or it may be that the business has grown to big for you. Of course, you can just stop doing business and close up shop, but you may also have a business that could easily be transferred or sold to someone else. How on earth does a person go about selling a home business? There are several factors that will influence your ability to sell your business or the way that you can go about … Continue reading →

Investing Business Profit

Many of us have such small home businesses that any money we net after expenses goes directly into the family coffers. As a matter of fact, it may be hard to imagine that your home business will ever be so successful that you will make MORE money than you can spend on a monthly or annual basis. This may happen, however, and when it does, you will have to decide what to do with the excess profit. Do you save it? Invest it back into the business? Or do you invest the profit in other ways and work to grow … Continue reading →

Is This Work Worth the Money?

In the beginning of our businesses, most of us expect to work long hours and NOT see the immediate reflection of our work in our bank accounts. As we grow our businesses, however, it stands to reason that our time should become more valuable and we may find that we can begin evaluating how much time we are spending on a particular project or with a particular customer and ask ourselves whether the work we are doing is equal to the money we are getting paid? I know there are those people who prefer to just do the work and … Continue reading →

Is it Successful or Lucrative, or Both?

Evaluation is a key component to running a successful business, no matter how small it might be. It is also the one component that many of us overlook. After all, we are often so busy trying to keep the money rolling in and meet the needs of the day, who has time to sit around and contemplate what is and what is not working? That contemplation, however, that figuring out whether we are actually being successful and making money, is important. Success can mean different things to different people. In fact, I would even go so far as to share … Continue reading →

Understanding Profit Centers and Cost Centers

Periodically, I try to share some business education information that might help in operating and growing your home business. Many of us come to our own home businesses without much of an understanding of business basics at all—just a lot of drive, determination and passion. Not to mention a genuine interest in having our own small business. One thing that may be helpful to understand is the difference between a “profit center” and a “cost center” as it relates to a small business. In simplistic terms, a “profit center” is an element of your business that generates revenue and profit. … Continue reading →

5 Tips for Making the Most Profit at Your Garage Sale

Usually the reason for hosting a garage sale is to get rid of unwanted items. However, many people are looking forward to the profits gained at a garage sale. They might need the money for bills, or a major repair. Perhaps, they might just wish to purchase a large ticket item they have been wanting for awhile, or they might actually decide to take a trip with the funds. If you know the proper things to do to have a successful garage sale, you should wind up with hundreds of dollars at the end. My neighbor made over $800 last … Continue reading →

Have You Thought About Selling Your Business?

So, maybe you think of your home business like a member of the family—you might even be so enmeshed with the business that you underestimate its worth or do not understand that it even HAS a value as separate business entity. But, many individuals build up businesses and then sell them—letting them go to a new owner for a profit and moving on to some other business challenge or project (or another job, retirement, etc.). Just about any business with a product or service, clients or customers and an established business entity can be sold. It will depend on your … Continue reading →

Deciding if More Training is Worth It

You have probably noticed by now that everything come downs to time management and a cost analysis in your home business—most things get evaluated based on whether they are worth your time and effort, and how they will affect the bottom line. Taking a class, getting more training or expanding on your education can fall into that same consideration—how can you tell if it is going to be worth your time and expense to invest in extra training? Start by looking at areas of definite weakness—places where some extra training would really benefit your business. If you are not very … Continue reading →