Is it okay for a business to have an external source of income.

[TOZZIBLINKZ]

It has always been advice that we do not put our eggs into one basket and practically or in a layman understanding what that means is that we must not in any situation do well on One plan or on 1 opinion when we are trying to make sure that we intend to succeed on a particular motive this is because there is absolutely no intentions made by man that is never beyond mistake or error and from time to time we will always make errors in our actions and in our intentions . Although in business a particular business owner may always endeavour that he or she carries out his business activities and practices perfectly so that it never result into any irreparable error or mistake but yet in some major cases business mistakes and never called for but rather it just happens .



In the area of making revenue for your business a business owner might choose to do well on the physical selling or rendering of goods and services to his customers and clients in order to earn business revenue but some business owners may choose to develop another external source to make more business revenue . From my own point of view I totally advise that if a business owner feels the need to have an external source of business revenue then he or she should go on with the plan because in all area and specification it is indeed good for a business to have an external source of revenue . When a business owner and devils to have an external source of revenue and not dwelling on his own personal business income he or she is definitely not putting his all our eggs in one basket figuratively but literally he or she is not putting his or her trust and one motive .

 

[CALVINDOL]

A times dwelling on one source of business revenues could absolutely be very daunting it is because if that source seems to not exist anymore the possibility is that the business will suffer negative repercussions like lack of funds for allocation possibly on different sectors of the business that absolutely need it for the purpose of boosting productivity and output . It is always advised that we do not put all our eggs into one basket like you already mentioned that is true Because a lot of people believe that it is important that we have a plan b while trying to achieve a particular achievable goal . No matter how much available our goals and objectives could be in business there are some factors that may cause such goals and objectives not to the executed for example if a business owner has the intention of the goal of employing more employees in the business organisation there are some factors that may cause this goals and objectives is not to be executed example the fact that the business organisation has poor reputation and this indeed is a big problem .

Having an external source in order to accommodate one business revenue is definitely advised and it is commendable to see the majority of business owners today and taking this as a good opportunity and has a good plan .

 

[Carpon]

I personally think that this is not a nice idea; funding a business using external sources. I say this because, a business is supposed to generate profit. I can only agree to this if we talk about capital and capital sourcing which is a different case and of course any new business is started with funds generated somewhere else.

But once a business has been kick started and it is functional, there is no need to fund the business externally. A business is expected to retain it's capital and not only that, generate profit which will be used to improve and expand such business. There are points when you will need to invest funds for the purpose of expanding the business and that is alright. But any business that must be funded externally indicates the incapability of such a set up and it is at risk of going bankrupt.