How long should it take my business to become profitable?

It depends.

But on average, count on 2-3 years

How can I profit faster?

Well, you have two choices – spend less, or sell more. There isn’t much magic to it, just a lot of focused work that targets the right consumer base for what you make or do.

Find a niche that needs your work and lean all the way in to it. Be distinctive and hone in on what they want. Price appropriately and don’t overspend. Sounds easy, but it really does take a focused approach.

What if I have already been in business for three years and I am still not profitable?

1. Take a hard look at where you spend your money.

2. Make marketing a core focus – for jewelers, you don’t make money at the bench, so get out there into the word with your work. Do every craft show you can, every public event that comes your way and work on getting your website ready for visitors.

How do other businesses get profitable?

They focus on selling, they focus on marketing, and they observe their bottom line and make choices driven by profit. They ensure that they pricing is profitable, that their products are appealing, and that their operations and production are streamlined and ready.