Getting Real About Profits

The question every business owner needs to ask: Do you have a business, or have you merely bought yourself a job? Most jewelers probably ask themselves at some point why they are in this business—and on days when the customers are cranky, a valued employee quits, a shipment is late, or the bills are piling up, they might have trouble finding an answer.For many jewelry store owners, it’s the appeal of self-employment, the promise of greater control over their working life, better profits, and a more secure future than they could ever find working for someone else.In reality, however, too many owners are unknowingly enjoying only the first of these three advantages to running their own business: more control. If they put pencil to paper, they may find they are kidding themselves that they have a profitable business. Why? Because, like “Sue” in the example below, they aren’t rece

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