Although owning your own business may be the best thing you ever did, it can have serious drawbacks, when you first start out. People often have unrealistic ideas and expectations about running their own business, thinking that it’s going to provide them a six figure income right from start, especially those who buy into a franchise or established retail business or those who join online affiliate programs.
When they see that they aren’t earning as much as they thought they would, they begin to worry that they have made a mistake or that they have been scammed and start worrying about their income and how they are going to pay the bills. Making a business plan in advance solves a great deal of the stresses that are involved when you start building your business.
The reason many new business owners have trouble making money is because they fail to plan for the days that are going to yield less income. It can take a new business on average anywhere from 3-5 years to start turning a decent profit. This is true even of franchises since the early days will involve more income going to the corporation than the owner. You have to make sure that you have a...
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