This Business News Story Was Uncovered By Us From: http://theincomedriver.com/reasons-why-you-need-to-shut-down-that-profitable-business/
This editorial featured post encompasses points of interest, that you need to master in order to take your own internet enterprise to the next stage.
It sounds silly I know. Why would anyone want to close down a profitable business? hell this entire blog is dedicated to the side hustler to help generate more income. But please keep reading I promise I’ll proof my point.
Back in 2013 I had a great consulting job that I was fired from. I remembered how relieved and free I felt after I was let go. Don’t get me wrong, I liked the job very much and I liked the people I worked with, but I wasn’t in love with the opportunity. That sounds cliche; in this day and age you take what you get and make the best of it right? I guess I’m a bit prideful. See that consulting gig was like a business, and although I wasn’t the one who shut it down, I was glad something outside of my control did. The truth is I have very strict rules on how my time is being spent, so if what I’m doing pays my bills, great. But if it feels only like a means to an end, then we have a problem. Which brings me to my first Reason.
Time you are spending on the business is very important
Running a business, you are exchanging your valuable time for the potential of growth and profitability. And for the sake of this article, we’ll assume that your business is already profitable. But how much profitable? or how much time are you putting in to get to that amount of profit? The worst thing you can do as a business owner is calculate your earnings on hourly basis, I know. That’s a no no! But in the long run, when you think about how much time (quality not quantity) you have been putting in, is the income worth justifying the sweat equity? Better yet I’ll ask myself these 3 questions:
Is this business sustainable in the long run? think about your industry, competition and how things are changing.
Is there an exponential… Read More
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