Breaking Even Not Breaking Bad
May 05, 2022Add your costs together to get your breakeven figure. Then you know how much you must sell to make a profit. It was also help you to know it start-up phase what you need to have as income to run on a daily basis.
Whilst everyone starts with grand ideas, an idea needs time and nurturing before real profitability happens. Ask any entrepreneur, business owner or freelancer they will back this up.
Be realistic, but really push yourself and the business to get to this point ASAP, and maintain it. Doing your research and brand diagnostics well from the outset will help you get to this point much quicker.
Setting up a business is hard, keeping it running with all the plates juggling and is even harder. Be mindful of business milestones to realistically reach.
A common misconception is thinking customers will be there for your product or service in droves from the outset. Another is not having to keep costs in check and plan for scaling up, I have seen this too many times in SMB’s and this is why I put forward this advice here.
This will make, break or bankrupt you!
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