Your Business And The Truth About Poverty

by David Bullock

So in this country it is very possible to work a full time job and STILL be considered poor. If you are an entrepreneur that is funding your “business” from your job, you might want to rethink your position. Your business might actually be taking you to the poor house. With the rising costs of health care and basic necessities, I encourage you to take a good hard look at you business and ask yourself these questions to determine if you are really doing it for love or for the money.

  1. Is my business truly self sustaining?
  2. Does my business take care of me?
  3. Am I using funds from my job to fund my business?
  4. How long have I been funding my business because it is not earning a profit?
  5. How long do I intent to fund you “money hobby”?
  6. Am I in business for the tax write-offs?
  7. How long have you been running as a sole proprietor?
  8. Do I have business cards, a website and separate phone number?
  9. Separate bank accounts?

I know that these questions sound basic but you would be surprised at the businesses that don’t have the basic skills of business.

Larger “successful” businesses are not exempt. Large businesses just mask the mistakes better.

Too many times, business owners fail because they don’t fire themselves for being poor managers, CEO and CFOs of the very businesses that they create.

Take a look

The Cost of Being Poor

 

Comments

comments

{ 7 comments… read them below or add one }

Christopher July 10, 2013 at 2:44 pm

Whether you know how to run your business the right way or not, firing yourself is always a great idea in my opinion. If you want to have a truly profitable, growing business that supports the kind of life you want, you have to “be on your business, not in your business.” In other words, hire the right people with the right backgrounds to handle the different functions for you. We need to just manage them, and be confident that they can manage our business properly for us. Swallowing that “do-it-ourselves” pride can actually lead to more success than we ever would have accomplished when we were handling it all ourselves.

Mesin penetas telur September 16, 2013 at 10:22 pm

Terimakasih atas artikel dan informasi yang sangat bermanfaat ini

penetas telur September 16, 2013 at 10:23 pm

Makasih mas

Jam tangan casio original September 16, 2013 at 10:24 pm

Artikelnya sangat bagus sekali

jackson joy December 23, 2013 at 1:29 am

When you know about how to run your business the right way or not, find uniqe idea for good and profitalble for your business with different keys

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marianacarlos December 27, 2013 at 4:20 am

Way cool! Some extremely valid points! I appreciate you writing
this post and the rest of the site is also really good.

Nicholas Walker January 20, 2014 at 5:00 pm

Great post!
I for one have been funding my failing online business with my full time job. Not ideal, but I think that if you look at some of the most successful people around, many of them came from very difficult circumstances. Sometimes its a case of not giving up, and taking several steps back before moving forward towards success and financial freedom. Yes I agree with others here that having the correct management and outsourcing systems in place is important to any successful organisation, especially if the owner of the business is to enjoy the benefits of owning a very profitable asset. The way I see it is one should own a business…not run a business.

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