Sell players, watch out for the fees/wages/agent fees.
At Spurs, I had several great players, and was constantly winning something. Catch is, I never gave wages bigger than 200kp/w despite me affording 300kp/w. I used the
feeder clubs to my advantage, one in China, one in USA, one in Africa, so I had international exposure. Player reputations also affect this. A player like Ronaldo is destined to boost your sales, or a player like Damiao / Neymar / Sneijder (they're far easier to get). Another example, Keisuke Honda. If you have a feeder in China, you will be able to use them as an intermediary to the chinese market, and it surroundings. That means a boost to Honda shirt sales.
I was loosing only 500k per month, and sometimes ten mil, depending on how many players I bought/fees. That being said, I was extremely good financially. So use your feeder club locations wisely, spend wisely, sell big and invest in youth.