Daily Money Minute

Fotolia_54867638_XS_7“A dream business that doesn’t make money is a living nightmare.” ~Habeeb Akande

By definition a business must make money. It must win customers; it must generate cash; and it must make a margin on the products and services it sells. Every business has overheads and you don’t make a penny for yourself until those overheads have been covered. If you fail to cover your overheads for any length of time then your business won’t exist for long, unless you’ve got money to burn. Before you start that dream business, make sure you know how you will make money. That is called a business model and every business owner should have one.

© Roy Sutton and Mann Island Media Limited 2013. All Rights Reserved.

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