Andrea
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Generally, it takes longer than that for a new business to start producing decent returns. It needs more time. |
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jenanderz
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Businesses take many more months than just 3 to be successful. It's a financial fact that many businesses fail within the first 2 years because there wasn't enough in savings to see them through when not enough profit is being generated. when it comes to new business, the first year might be busy because you're a new business in town and people are curious. the 2nd year is usually slow while your reputation is getting out. the 3rd year is when things start to stabilize and if you've had enough in savings to see you through that slow time, you'll be ok. if not, you'll probably close. Take your time and be patient. i'm working on a new business myself and it's slow, but steady. be patient. |
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gobonzzo
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80% of all new businesses go out of business in the first two years. If you are still in business after two years you have a chance to make it. Three months is not enough time to tell anything. |
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Enter Name Here
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Like they said on top it does take more time when you just open up a new bussiness its gonna be like that for a while but then it should (hopefully) change... good luck |
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Daniel M
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Try to ask your question again with more details. Like whats the biz, what is your overhead, traffic flow. That way people can give you some sound advise. Peace Mac |
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Pilot
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You have to advertise more and try to make it through the first year. It takes time for it to pick up a little bit, next thing you know you'll be looking for help to get the work done.
Good Luck
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nanny411
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"They" say to have at least a year, preferably two years, of savings to live on as your new business gets on its feet. It takes at least that long for it to start turning a profit for you. Hopefully, you have financial backup so you don't lose your dream. Give it more time, figure out how to reach more people, etc. and hopefully you'll be solvent soon. |
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Derek O
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Stick it out. It's only been 3 months
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coral_anita
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It would be rare for a business to be breaking even after only 3 months. But there is a point where you have to decide a) that the business is going to pay off, or b) that it won't ever be viable. At regular intervals you should be considering -
am i really putting in the hours and effort it needs
do i really want this
how can i trim and manage the costs
with 8 hours a day, can I produce enough/see enough clients etc to make a profit
are there enough people who want my product or service
can i reach/advertise to enough of these people
how helpful is my current job to my business aims (is it part time, does it pay well etc)
The reason many businesses fail is that people have a technical skill but NO business skill (book keeping, taxation knowledge, marketing and advertising, time management, people and negotiation skills etc)
Maybe you could study business and THEN give your business a go.
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Alfredo
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Judging by the way you wrote your question and the fact that you are searching for general business guidance on Y answers, I would guess that it will definitely fail. You should try getting a book that helps you in writing a business plan (even though you already jumped in). This will help with figuring out how much you should be making by when.
good luck. |
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Jezzito
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Any return after only three months is pretty good give it time! |
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kate
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If you did your homework and it said the market was there for your product ,
Then you also should have saved 1 years living cost , which is common for a business to become self sufficient .
Recheck your homework , is there really a market for your product ?
You are the one that has to evaluate that question and decide how to get your business self sufficient ( if possible )
good luck
> |
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mr.treadmill
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You are lucky that you're making a return at this point. Perservere. It could take two years before repeat customers become your base and keep getting your name out there. Never be idle. |
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trinasklozet
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Most businesses don't make any money their first year. Just keep the faith and your vision and hold on. Bill Gates didn't become a millionaire overnight! |
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