I have a business in Web Design and Development for almost three years and half. Till now I did not get money from my business. I just invest in it. I was thinking of how long till I make money from my business? It has been more then three years and I am just covering the cost of my business.
How long till I get money from my business? Is running a business for more then three years and only covering cost normal?
Can you advice my please
2007-09-06 08:21:14 · 2 answers · asked by cooldude941 1 in Business & Finance ➔ Small Business
Who knows? Maybe never. Business failures do occur, you know...
It is safe to say though that, since you haven't shown a profit in three years, there's something wrong with your business model. You are neglecting sales and marketing and/or overpaying in costs.
2007-09-06 08:33:53 · answer #1 · answered by NC 7 · 1⤊ 0⤋
If you haven't made money in this amount of time there is a flaw in your business model.
If you are not making a profit then either your selling price is too low (or not enough sales), your costs are too high, or your overhead is too high.
You will make money the day your sales revenues exceed your cost and overhead. Web Design is just not a capitol intensive business.
If you are getting hungry then walk into a small business and ask them if they are happy with their website. Show a couple of your dazzling designs and offer to design / improve theirs for only [some small amount]. Be prepared to cost justify (having my product brings you more money than it costs).
You must be prepared to 1) market convincingly, 2) contract correctly, 3) perform excellently, and 4) collect immediately
Good luck
Craig
2007-09-10 11:21:57 · answer #2 · answered by Old Wolf 3 · 0⤊ 0⤋