When it comes to earning money from a business, most people would think that saving it in the bank is the next best thing. Although it’s good to commemorate the special milestone in earning your first dollar, don’t forget that money needs to circulate in order for you to turn a profit.
So where should you invest your business profits? Here are some great suggestions on how to put your earnings into good use.
1. Business improvementBoitnott, John “10 Ways You Should Invest Your Company’s First Profits.” 31 January 2017
3. Invest in your team
4. Invest in yourself
5. Hire help
6. Consider coaching
7. Outsource your least favorite tasks
8. Improve your SEO
9. Create a cash buffer
10. Don’t diversify too early
Silicon Harbor Business Services is based in Mount Pleasant, SC. We provide solid, practical advice to small business owners and select individuals.
We work with Quickbooks Online, Quickbooks Desktop and Quickbooks Enterprise. For Quickbooks Online, we work with clients in Mount Pleasant, Charleston, Philadelphia, and across the US. For Quickbooks Desktop and Quickbooks Enterprise, we only work locally in the Charleston, SC area.