How to make money on this platform

Work. That would have been my 1-word answer, but the site tells me it's too short. Yes, you could invest your money in the hopes of getting a higher return; and it might work. But any investment entails the risk of loss. And that risk is highest early on when a person is less experienced and doesn't know where to invest. I wouldn't want you to lose your hard-earned money or have a bad experience at 16 that sours you on taking risks. Realistically, the way to add to your stash without any chance of losing it ... involves finding paid work. Local jobs for 16-year-olds won't pay a lot. But online you're ageless. If you learn a skill such as web design, video editing, or programming, then you could earn more per hour and freelance as much as you like.

Without knowing where in the world you are it's hard to name any specific institutions but here are some things I've learned over the years: 1. Don't do business banking virtually. By having a relationship with my local bank officer I was allowed to go over my line of credit limit by $5,000 for 14 days on her authority alone. The only reason she let me was our personal relationship. People matter. 2. Ask if you'll automatically be offered credit limit increases based on account activity or if you need to apply each time you want to expand credit. Applying each time will likely create a 'hit' on your credit score. I once had my credit expanded by $20,000 simply because of the account activity. 3. Get a clear understanding of the fees and understand that dealing with you costs the bank money. I'm very suspicious of 'free' accounts of any kind. There is always a cost. 4. Make sure the branch is convenient. I don't like waiting for an hour on the phone to speak to someone in a call center. When there is a royal screw-up in your banking nothing beats marching down and talking to the commercial manager. They'll want you out of their office fast and that means getting a resolution most of the time. 5. If you're going to be doing business internationally, ask about foreign branches or brands. Here in Canada most of the banks own US banks so it can make things easier for business in the US to open a US account in the USA from the comfort of home. Set up a call if you'd like to talk about your specific needs. David C Barnett

You need a source of capital to carry you through the receivables period. Basically you've got three options: -Borrow money to finance the receivables -Find investors to contribute equity to finance receivables -Sell the receivables (factoring) or some combination of these. In my experience you're talking about making the same leap that a bathroom renovator might make to become a home-building contractor. The difference in that business is also capital. Arrange a call if you'd like to discuss your particular case. I can run through a few questions with you and help point you in the right direction. Best, David Barnett

There are tons of ways and you have to start without worrying how it would end. Also i am giving a very general answer since I do not know anything from your background. Few things you can choose from: 1. Real Estate: Learn how accounting works for real estate and how you can buy properties without any cash. Learn how you can partner with someone for equity deals. Learn how comparable work and how big multifamily deals are funded. Learn about how whole sailing works. You can also do apartment referrals to start making some money. 2. Stock market: First figure out the scam and open a small account and learn how to trade stocks. Do not lose big. Start small and lose small. Understand the psychology of traders who are taking other side of the trade. 3. Get education in a high paying sector. Currently it is either in coding or in some kind of handyman job (plumber)...do a bootcamp to start earning income and start saving some money for real estate deals or stocks. Note there are coding bootcamps which do not charge any money and you pay them based on your future guaranteed salary. Of course I have not listed 1000's of other was you can make money!

One thing I like about your question is the fact that you're ASKING it. Trying to quantify profit. Most people never even get that far. They treat profit--especially if it is that of their own business--as some ethereal thing they will "get later" if possible. "To manage we must measure" is a business maxim and a fundamental one for me. If we don't build Profit into our revenue equation, we're unlikely to get any. And so asking this question and building profit right into your revenue target is a powerful idea nearly all small business owners totally miss. As for an answer...that amount is really up to you. What do you need to survive? There are so many variables we don't know about: what kind of business, what scale, what paths to market are you using, etc. etc. that affect costs, together with the price tolerance of your marketplace, that it's not possible to give an "average" answer. When I train business owners on how to set their operation up for success, I recommend 20-30% of revenue be built in as a monthly amount for profit. However, this is usually for consultants, and may not be possible for other business models. Sometimes 5% profit is what's achievable, say for a commodity provider, and if they make money with that, OK. Have you done any studies of comparative firms in your niche?