Posted on Jun 14, 2016
Is your business, for-Profit, non-Profit or for-Purpose? Why did you choose that model?
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As business models go, these are the basics of the revenue generating model. And the one you chose should serve your purpose, your customers/clients and your business.
With the negative stigma behind non-profit companies, I'm noticing more for-Purpose companies emerging. And I'm liking what I'm seeing.
Provide a service with a purpose and give back to the community.
Thoughts?
With the negative stigma behind non-profit companies, I'm noticing more for-Purpose companies emerging. And I'm liking what I'm seeing.
Provide a service with a purpose and give back to the community.
Thoughts?
Entrepreneurship
Networking
Business
Edited >1 y ago
Posted >1 y ago
Responses: 7
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I always figured my business was for profit, but my wife makes sure it's non-profit. She's got 7 horses.
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Maj John Bell
The largest monthly bill I have is feed, most of that horses. Who generate the least revenue. When I say anything about it, she says my analysis doesn't hold water, she counts my dogs as livestock and they generate no revenue. I smile, admit her overwhelming intellectual superiority and go hang out with the goats.
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I started a Scenic and Wildlife photography business with just my wife and I. It was a sole proprietor company.
I ended up spending about $500 in taxes and such over 2 years and only made about $200 in sales. That doesn't take into account the approximately $15k worth of camera equipment, software, and peripherals.
My idea of a good photo shoot is sitting several hours out in the rain and bushes to get a great shot of an animal, to me that is so much more preferable than trying to shoot a seniors pictures, or some wedding.
That's my take on my self employed business
I ended up spending about $500 in taxes and such over 2 years and only made about $200 in sales. That doesn't take into account the approximately $15k worth of camera equipment, software, and peripherals.
My idea of a good photo shoot is sitting several hours out in the rain and bushes to get a great shot of an animal, to me that is so much more preferable than trying to shoot a seniors pictures, or some wedding.
That's my take on my self employed business
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MSG Wally Carmichael
David, that has always impressed me. My wife and I love watching documentaries. And we once watched one with photographers getting great shots like that. I certainly don't have the patience for that but I do admire it.
BTW, have you considered registering your business as an LLC or C CORP? The tax benefits as a C Corp are greater and you protect your personal assets.
BTW, have you considered registering your business as an LLC or C CORP? The tax benefits as a C Corp are greater and you protect your personal assets.
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My company is a for profit business. But, it is built on patient first. At present, I accept Medicare/Medicaid and cash pay patients. In the near future, I will apply to the veterans choice program and accept other insurance.
I was not aware of a for purpose business. I do think I have one.
Mark A. Morris BS, RDMS. RVT
I was not aware of a for purpose business. I do think I have one.
Mark A. Morris BS, RDMS. RVT
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Cpl Mark A. Morris
MSG Wally Carmichael - Thank you MSG. That was a very nice of you to write.
M. Morris RVT
M. Morris RVT
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