Know what you are getting into. Due-Diligence! --- On Wed, 10/15/08, oakdorf <[EMAIL PROTECTED]> wrote:
From: oakdorf <[EMAIL PROTECTED]> Subject: [AsburyPark] Small business income vs expected income... To: AsburyPark@yahoogroups.com Date: Wednesday, October 15, 2008, 11:23 AM I've done this before. I once had the opportunity to field questions from small business owners and oftern run into this when I ask someone leasing out a building = how much can you make.... Say you open a clothing store - a small business. You as the owner and first employee obviously have a plan and what you want to sell and how you want to sell it. You know you can buy it for $1 and sell it for $2. Somewhere between those two numbers is yours to manage - pay bills, yourself and probably sales people, advertising etc.. How much, as the small business owner, do you expect as a salary - weekly, monthly. How many vacation days do you expect? What is your backup plan if the revenue projections don't work? You can put this out there to anyone. A consultant working for themselves, an attorney, any store owner any professional who works for themselves and has to sell themself... MM has numbers they have to hit - maybe not today, but 5 or ten years down the road. The small biz owner cannot. Case: Yesterday on Bloomberg, they interviewed some women in Minnesota who opened a chocolate shop serving ice creams and choc stuff from around the world. She was complaining that now vendors wanted cash up front vs net 10 or 30. So she was having trouble. Milk prices up, sugar prices up etc and people can only afford to pay so much. Her AND her husband starting taking over the hours vs employees - and now they had to close for now. She is looking for work - but feels she is over qualified or the pay is not enough....and then being her own boss. She can't get loans, grants, credit on her biz. So the questions are: 1. Should she have gone in business 2. Does she have a real world view ... 3. should she be "bailed out" because she feels she contributes so much to the local community What's right, wrong and whose responsible? How much salary is right or how much should a small biz owner expect in salary? [Non-text portions of this message have been removed] ------------------------------------ Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/AsburyPark/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/