‘Black Friday’ is the term used to desribe the day when the retail stores are finally ‘in the black’ for the year. There are so many costs and expenses associated with doing business offline in the retail industry, it takes them until November to start to make profit for the year. This was shocking when I first learned of this fact many years ago.
I have a close friend who owns a delicatessen in Los Angeles. They make more money between Thanksgiving and the end of the year than they do during the entire remainder of the year! It just takes them the other eleven months to build up goodwill and establish their credibility in their market so they have the opportunity to do so well around the holidays.
Online businesses do not have this problem. Our expenses are so low that we are seeing green during the first month of the year. Now that I have been online almost three years my costs of doing business are an even smaller percentage of my profits. Doesn’t it make sense to do business online, or to at least have an online component to your business? What do you think about this?
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Clever title Connie! You make a great point!
Makes total sense to me, Connie. I’ll agree with Sharon – you make a good point! It seems extremely risky to wait it out all year long until the year-end holidays to see if you’ll profit from your business. There must be an awful lot of praying going on in the offline business world.
Yes, it makes a lot of sense to me to have an online component to my business but maybe my situation is different than some. I figure I can “get my hands” on a whole lot more people by sharing pain relief information online than I ever could by working with one person at a time. And I do love helping people get out of pain! I also love the low, low overhead of working online.