Play over 1000+ slots! SPIN NOW! WIN CASH!
Investing in medical cannabis. It’s profitable!
Blue
Red
Green
Orange
Voilet
Slate
Dark
  Guest viewing is limited

❓ASK Would you sell your high costing business or keep using it as a high income source ?

dadayli

Emerald Member
LV
0
 
Joined
May 17, 2019
Messages
3,837
Reaction score
433
Points
170
Awards
3
Age
19
Location
Morocco/Germany
Website
youtube.com
BMF Points
2,055
Rating - 87.5%
7   1   0
Are You Looking for a Crypto Casino?
Pick a box! Unbox it! Get item delivered!
Sometimes your business run smoother than you expect, till it starts worthing a high value, at this point, would you sell it and use the money to start another business that requires no effort or regular monitor or just keep it as an income source but with monitoring it ?
i personally would sell it to get in something more comfortable, since life isn't all about money :) what about you ? what do you think is right ?
 

Ewogboka

Emerald Member
LV
0
 
Joined
May 28, 2020
Messages
2,229
Reaction score
20
Points
125
Awards
1
BMF Points
1,215
Rating - 100%
1   0   0
If the business has higher future potential I will rather keep it and grow it than selling off , it is very good to face challaneges while doing business because it prepared you for bigger task ahead. If the business is not that viable I will sell it off.
 

RaOne

Silver Member
LV
0
 
Joined
Apr 20, 2020
Messages
198
Reaction score
10
Points
0
BMF Points
716
Rating - 0%
0   0   0
i personally would keep it but hire a manager on the top of it, a trustworthy manager that can manage it like it's his, he also must be smart and responsable to take your opinions and think about the well being of the company/business, selling it would basically stop your income, because the money will end someday
 

dadayli

Emerald Member
LV
0
 
Joined
May 17, 2019
Messages
3,837
Reaction score
433
Points
170
Awards
3
Age
19
Location
Morocco/Germany
Website
youtube.com
BMF Points
2,055
Rating - 87.5%
7   1   0
If your business makes and brings you money, why would you want to sell it? And if it does not, maybe you are doing some things wrong. Why don't you make it better? Good luck.
well, even if it generates a decent income, selling it would bring you a lot and a lot of money, the issue here is that you are always on the top of it, i mean when you get older, you are supposed to take a rest, travel around the world and live your life ;)
 

Ewogboka

Emerald Member
LV
0
 
Joined
May 28, 2020
Messages
2,229
Reaction score
20
Points
125
Awards
1
BMF Points
1,215
Rating - 100%
1   0   0
well, once again, the issue here is not that the business was a failure, it's about working for the rest of your life, you need a rest at a period of time, maybe putting a manager on the top of it would be a fine solution than selling it
No doubt the body system need rest at a point in time but selling an existing successful business when there people to employ and manage it is not the best . You can resting and moving round the globe while business will keep running.

Most successful business men flock around the world comfortably yet they don't joke with the growth or prosperity of their businesses.

Having a place to visit or check on is beneficial to the health status , most successful business men still goes to office once in a while just to get busy and exercise the brain, if the business has been sold no where to gom
 

Emoney

Emerald Member
LV
0
 
Joined
Sep 16, 2018
Messages
4,922
Reaction score
207
Points
150
Awards
2
BMF Points
12,132
Rating - 100%
2   0   0
Depends on a lot of factors, mainly can you still adequately manage your business? If you're able to delegate your business to a reliable business partner then why not?
 

De-rector

Ruby Member
LV
0
 
Joined
Jan 21, 2018
Messages
11,197
Reaction score
167
Points
150
Age
31
Location
Nigeria
BMF Points
10,386
Rating - 100%
1   0   0
Depends on a lot of factors, mainly can you still adequately manage your business? If you're able to delegate your business to a reliable business partner then why not?
Yeah there instances where there might not be very reliable persons to handover busineses but partnership with some existing businesses could be an alternative just to keep it growing instead of full sale
 

Josemendez

Emerald Member
LV
0
 
Joined
Apr 8, 2019
Messages
4,870
Reaction score
185
Points
150
Age
27
BMF Points
17,860
Rating - 0%
0   0   0
Sometimes your business run smoother than you expect, till it starts worthing a high value, at this point, would you sell it and use the money to start another business that requires no effort or regular monitor or just keep it as an income source but with monitoring it ?
i personally would sell it to get in something more comfortable, since life isn't all about money :) what about you ? what do you think is right ?
I do prefer to keep it and use the income to build a more comfortable business , then to reduce the stress , I will keep someone in charge of it while I manage the less stressful business. This way I have two business .
 

Emoney

Emerald Member
LV
0
 
Joined
Sep 16, 2018
Messages
4,922
Reaction score
207
Points
150
Awards
2
BMF Points
12,132
Rating - 100%
2   0   0
Delegating you high income business to someone else is a risky move in itself. The person you tasked with may ruined the business or betray you in the future. It's a much better idea to delegate your less-profitable businesses and focus on managing your high profit ones.
 

yoo.jong

Newbie Member
LV
0
 
Joined
Jun 9, 2020
Messages
28
Reaction score
0
Points
0
BMF Points
520
Rating - 0%
0   0   0
I recommend anyone thinking of investing in rental properties give that thread a read as well. Important to note for anyone reading this is that you or any other new investor should look at when deciding whether or not they want to take the plunge into rental properties is the true expenses associated with owning a rental property.
 

Emoney

Emerald Member
LV
0
 
Joined
Sep 16, 2018
Messages
4,922
Reaction score
207
Points
150
Awards
2
BMF Points
12,132
Rating - 100%
2   0   0
Kinda wondering what the OP here means by "high costing" business lol. Is it a business with high revenue or failing business with high operational cost? If it's the later then sell it, but if it's the former then keep it.
 

Josemendez

Emerald Member
LV
0
 
Joined
Apr 8, 2019
Messages
4,870
Reaction score
185
Points
150
Age
27
BMF Points
17,860
Rating - 0%
0   0   0
Sometimes your business run smoother than you expect, till it starts worthing a high value, at this point, would you sell it and use the money to start another business that requires no effort or regular monitor or just keep it as an income source but with monitoring it ?
i personally would sell it to get in something more comfortable, since life isn't all about money :) what about you ? what do you think is right ?
I do prefer to keep it and use the income to build a more comfortable business , then to reduce the stress , I will keep someone in charge of it while I manage the less stressful business. This way I have two business .
Delegating you high income business to someone else is a risky move in itself. The person you tasked with may ruined the business or betray you in the future. It's a much better idea to delegate your less-profitable businesses and focus on managing your high profit ones.
Very true . I get the point but then most people are usually a victim of such circumstance because they trust people. You don't trust peopywhrn it comes to money . so , even if you allow him to manage the business for you, you should also monitor him well. But then , just as you said , it is not safe to do so.
 

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
3,954
Reaction score
202
Points
150
Awards
4
BMF Points
4,761
Rating - 0%
0   0   0
I think it is best to keep it as a high income source. the selling mindset would just come if you think you would not be able to run the business anymore in the next months
 

De-rector

Ruby Member
LV
0
 
Joined
Jan 21, 2018
Messages
11,197
Reaction score
167
Points
150
Age
31
Location
Nigeria
BMF Points
10,386
Rating - 100%
1   0   0
Delegating you high income business to someone else is a risky move in itself. The person you tasked with may ruined the business or betray you in the future. It's a much better idea to delegate your less-profitable businesses and focus on managing your high profit ones.
It is a risk worth taken in my opinion you just need to put in place a lot of security measures such that the manager will not run down your business,you can also recruit based on merit
 

Emoney

Emerald Member
LV
0
 
Joined
Sep 16, 2018
Messages
4,922
Reaction score
207
Points
150
Awards
2
BMF Points
12,132
Rating - 100%
2   0   0
you can also recruit based on merit

The problme with people is that they can easily and suddenly change. Yesterday friend can be your enemy tomorrow, especially when he's exposed to a huge amount of money the business is generating. Greed can and will corrupt people.
 

De-rector

Ruby Member
LV
0
 
Joined
Jan 21, 2018
Messages
11,197
Reaction score
167
Points
150
Age
31
Location
Nigeria
BMF Points
10,386
Rating - 100%
1   0   0
The problme with people is that they can easily and suddenly change. Yesterday friend can be your enemy tomorrow, especially when he's exposed to a huge amount of money the business is generating. Greed can and will corrupt people.
Yeah, I have seen and heard of scenarios like that also there people who had been hired to manage busineses and they have done that successfully too. It all depends on individual and business risk
 

Josemendez

Emerald Member
LV
0
 
Joined
Apr 8, 2019
Messages
4,870
Reaction score
185
Points
150
Age
27
BMF Points
17,860
Rating - 0%
0   0   0
The problme with people is that they can easily and suddenly change. Yesterday friend can be your enemy tomorrow, especially when he's exposed to a huge amount of money the business is generating. Greed can and will corrupt people.
Of course people do change and that is why you have put security measures just as he said . making sure that he kr she has limited access, carrys out a detailed daily financial report and other things . You don't just leave your business for anyone , less he may ruin the company .
 

De-rector

Ruby Member
LV
0
 
Joined
Jan 21, 2018
Messages
11,197
Reaction score
167
Points
150
Age
31
Location
Nigeria
BMF Points
10,386
Rating - 100%
1   0   0
It is on rare occasions that the financial controller and the manager could conive to run down a business, most of them value their integrity. You can monitor all financial transactions in your company by ensure full compliance with cashless transaction.
 

microunit

Emerald Member
LV
1
 
Joined
Nov 27, 2019
Messages
3,954
Reaction score
202
Points
150
Awards
4
BMF Points
4,761
Rating - 0%
0   0   0
The problme with people is that they can easily and suddenly change. Yesterday friend can be your enemy tomorrow, especially when he's exposed to a huge amount of money the business is generating. Greed can and will corrupt people.
if that's thats the case. proper security measure should be put in place. and that person must have only limited access. though it's still hard to trust on any person even if you have been together for several years. you can only trust yourself. it's not that bad to have doubts on your employees or partners in order to protect your business
 
Similar threads
Thread starter Title Forum Replies Date
onlyprofits ❕NEWS Owner of 2 bars in NY wants to sell them for 1 million dollars in BTC Crypto Currencies 0
onlyprofits ❕NEWS The great dilemma. Buy or sell Bitcoin Crypto Currencies 0
Farhanaslam007 Sell I want to sell 3000 BFM for 250 Dash Buy / Sell / Trade 2
21stolemybike ❓ASK Is it possible to sell computer bandwidth General Chat 1
songokumax Sell I sell Vultr account 105$ limit 10. Buy / Sell / Trade 0
blackman89 I sell Tiktok Followers, Viewers Buy / Sell / Trade 1
B Sell Linkedin Account For Sell ( 2800+ connections ) Buy / Sell / Trade 0
BlueJ Sell Sell my albums for BMF! Buy / Sell / Trade 1
C Trade Sell 2.5$ PayPal to 2.5 USDT Buy / Sell / Trade 0
vophuong831 Sell sell account starclick with 35.5$ on balance for 35$ paypal Buy / Sell / Trade 0
vophuong831 Sell Sell 24$ payeer for 24$ paypal Buy / Sell / Trade 0
vophuong831 Sell sell 24$ payeer to 24$ paypal Buy / Sell / Trade 1
S ❓ASK Is Facebook marketplace good to sell used things? General Chat 0
M Sell 10 usdt , 25 usdc for 35$ Doge Buy / Sell / Trade 0
S ❓ASK Which platform is best to sell online? General Chat 12
C Sell Sell Bitcoin Site with domain Buy / Sell / Trade 1
Anaselb122 Sell I want to sell my 10 gmail accounts for 1$ or 1000 BMF Buy / Sell / Trade 5
A Sell of satoshi Buy / Sell / Trade 4
Emoney ❕NEWS Iran's new crypto mining law requires crypto miners to sell directly to central bank Mining Forum 28
De-rector ❕NEWS Iran new Crypto law requires that miners sell directly to Central Bank of iran. Bitcoin Forum 32
Hick1212 Sell I want to sell Qivi wallet 1000 RUB for Payeer 900 RUB Buy / Sell / Trade 0
JohnBanks Closed Sell my greendot account. Marketplace 3
H ❓ASK Where To Sell Email List and Phone Numbers Newbie Helpdesk 6
onlyprofits The CEO of Microstrategy could sell 200 million dollars of BTC. Crypto Currencies 21
Josemendez ❕NEWS I didn't buy $425 worth of Bitcoin to sell it ever Bitcoin Forum 81
Tappman ❓ASK Does anyone know how to buy and sell crypto in Bangladesh? Crypto Currencies 26
B Sell Sell youtube channel with 3000 subscribers Buy / Sell / Trade 0
H PAID How Much You Should Sell Or Buy The House? Premium Resources 2
De-rector ❕NEWS Bitcoin is becoming scarce as miners sell less of bitcoins. Crypto Currencies 10
dinerdawat24 Sell I will sell youtube 1k+ subscriber Just 25$ Buy / Sell / Trade 0
twojstary Gametwist Account For Sell - 30 $ Buy / Sell / Trade 1
Zihann Want to sell Crowd1 White package with discount Buy / Sell / Trade 1
Neel55 Sell I'm sell used Blockchain wallet with transactions Buy / Sell / Trade 3
makanaki ❓ASK What Are The Best Website to sell domains with crypto? Domains & Web Hosting 7
dadayli ❓ASK Are Digital products legal to sell ? Businesses & Individuals 52
dadayli ❕NEWS 14 years old teen made his first sell as a dropshipper, but ... Businesses & Individuals 23
BILL19 Sell Want To Sell 58.89$ PayPal Dollar Buy / Sell / Trade 3
ayoubbarghizi Sell Sell GPT PTC website Buy / Sell / Trade 12
SoooSooo Sell NewsBTC Buy / Sell / Trade 1
I Sell I own a Dagcoin coin and want to sell it. Are there any buyers? Buy / Sell / Trade 3
ELSA-ELI Sell sell 11$ payeer for 11$ bitcoin Buy / Sell / Trade 3
deepakb Sell Sell 4$ BTC for 5$ PAYEER Buy / Sell / Trade 1
anisbouanaka Sell Sell 5$ payeer for 5$ Web money Buy / Sell / Trade 3
VizarExchange I Buy/Sell/Exchange Bitcoin Buy / Sell / Trade 5
Neel55 Sell I'm sell Doubler , Cloud Mining At Low Price Check out Buy / Sell / Trade 0
Masrawy20 Deal Ledger Nano X for sell with great discount Buy / Sell / Trade 1
A Sell I have a YouTube channel 2000 subscribers and 7 thousand hours to sell Buy / Sell / Trade 7
westmania ❓ASK Can anyone sell real gold online as a profitable business ? Businesses & Individuals 63
serdarerol Sell i sell 500 bmf 0.50$ payeer ltc btc or dogecoin Buy / Sell / Trade 3
H sell account adbtc.top 2168011 satoshis Advertising balance Buy / Sell / Trade 4

Similar threads

REWARDS: Active Raffles


  • Roll 18: Win 50,000 BMF Points!

    The entry period for this raffle ends in..

Top Bottom

Earnings Disclaimer:  All the posts published herein are merely based on individual views, and they do not expressly or by implications represent those of BeerMoneyForum.com or its owner. It is hereby made clear that BeerMoneyForum.com does not endorse, support, adopt or vouch any views, programs and/or business opportunities posted herein. BeerMoneyForum.com also does not give and/or offer any investment advice to any members and/or it's readers. All members and readers are advised to independently consult their own consultants, lawyers and/or families before making any investment and/or business decisions. This forum is merely a place for general discussions. It is hereby agreed by all members and/or readers that BeerMoneyForum.com is in no way responsible and/or liable for any damages and/or losses suffered by anyone of you.