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amother




Burgundy
 

Post Wed, Jul 27 2022, 8:44 pm
amother [ Peachpuff ] wrote:
My husband does Amazon too. His profits mostly go back into the business but he makes around 400-600k per year. I don’t see it though. It goes straight back in or for buying real estate.


It's good that he's investing in real estate. One day I'd love dh to use the business money to do that but at the moment we can't.
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amother




Currant
 

Post Wed, Jul 27 2022, 11:04 pm
I opened an online retail store close to 2 years ago. Made probably 400k gross year one and hopefully 600k+ year number 2.
But can't say we took out more than 20k from this annually.
A BUSINESS TAKES TIME TO MAKE MONEY.
I wish it would be like people think that you throw it up and you enjoy the profits:)

Now I'm looking high and low for someone to help me bring it to the next level. But it aint easy!
I enjoy seeing people post that after a few years the hard work does end up paying off. Hoping n praying it'll be that way for us as well!
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amother




Stoneblue
 

Post Wed, Jul 27 2022, 11:13 pm
amother [ Snapdragon ] wrote:
My husband has his own business. He does manufacturing , packaging, and selling on amazon and other websites. He makes a lot more than that but he doesn't actually bring it home. He takes a salary and the rest goes right back into the business for new inventory and to develop new products.

Took quite a few years to even make profit. And he literally works all. the. time. He bh loves it, but it's not for everyone. It's not like he set up a business and now the cash just flows in.

We probably aren't in the category that you are talking about because we aren't raking it in, but my husband is so set on being successful that in my mind we are millionaires Very Happy

I say "Hashem, you made my husband a millionaire. Now please give him the money."


If it goes back into the business, it’s not profit. So that’s not his income.
I have a small business where my gross profit is about 100k. But that’s not my income, my income from it is about half of that

But either way, the mindset you are talking about, the millionaire mindset, is the way to do it. My husband and I have that as well, and it makes all the difference
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amother




Mintcream
 

Post Wed, Jul 27 2022, 11:19 pm
amother [ Stoneblue ] wrote:
If it goes back into the business, it’s not profit. So that’s not his income.
I have a small business where my gross profit is about 100k. But that’s not my income, my income from it is about half of that

But either way, the mindset you are talking about, the millionaire mindset, is the way to do it. My husband and I have that as well, and it makes all the difference


Of course it’s profit. My husbands business has a profit of a few hundred thousand a year. Meaning after all expenses there’s a few hundred thousand from sales left in the bank. Wether he chooses to use that to buy a vacation home or to buy more tools to grow his business is irrelevant.
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amother




Honeydew
 

Post Wed, Jul 27 2022, 11:38 pm
amother [ Mintcream ] wrote:
Of course it’s profit. My husbands business has a profit of a few hundred thousand a year. Meaning after all expenses there’s a few hundred thousand from sales left in the bank. Wether he chooses to use that to buy a vacation home or to buy more tools to grow his business is irrelevant.

If he uses it to buy more tools that's a business expense, and yes, it cuts down your profit. Profit = income minus expenses.
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amother




Snapdragon
 

Post Thu, Jul 28 2022, 8:14 am
amother [ Mintcream ] wrote:
Of course it’s profit. My husbands business has a profit of a few hundred thousand a year. Meaning after all expenses there’s a few hundred thousand from sales left in the bank. Wether he chooses to use that to buy a vacation home or to buy more tools to grow his business is irrelevant.


It's considered profit because he made more than he used. But his business can't survive if he doesn't use that profit to buy more inventory. So if he makes thousands a month and then puts it right back in it is bh profit, but he can't use it for whatever he wants.

That's why I'm also working. I'm the short term money that we need now and it enables him to grow his business that iyh with Hashems help one day I should be able to stop working and he should be more profitable and actually bring home what he's earning.
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amother




DarkGreen
 

Post Thu, Jul 28 2022, 8:22 am
DH has a service business. BH he was bringing home money from year one because there are not many expenses. There is no need to reinvest the money made so he comes home with majority of it.

That being said, service businesses are brutal because you are dealing with other people all day and some are less than nice and normal.
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amother




Mintcream
 

Post Thu, Jul 28 2022, 9:11 am
amother [ Honeydew ] wrote:
If he uses it to buy more tools that's a business expense, and yes, it cuts down your profit. Profit = income minus expenses.


It’s profit that he’s choosing to reinvest. It’s not necessary, the company can BH run beautifully without it.

Income is completely different. He has another business that BH has close to a million sitting in the bank account. Expenses are minimal. But because of ratios with bank loans most of it needs to stay sitting there. It’s most definitely profit, but our personal income from the business is right now maxed out at about $200k/year.
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amother




Plum
 

Post Thu, Jul 28 2022, 9:21 am
amother [ Stoneblue ] wrote:
If it goes back into the business, it’s not profit. So that’s not his income.

I have a small business where my gross profit is about 100k. But that’s not my income, my income from it is about half of that


Curious if you have employees or if you’re a one lady show…
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