As I mention from time to time here, generating money from your business is a numbers game.
The more targeted traffic you get to your store, the more sales you can expect to see if what you sell is in demand.
But how do you answer questions like, how many sales do I need to get in order to make enough money to pay my living expenses?
Or, how much money do I need to invest into this product in order to get X in revenue and from that, how much will I profit?
To answer these questions, you need to know exactly what your material costs, shipping costs, and cost of fees are from your selling platforms.
If you’re looking to quit your job and become a full-time business owner, you have to be able to answer questions like these which will help you set realistic financial goals, see into the future of your business and even predict how much you’ll need to invest until you make enough money to cover your living expenses.
To visualize your success down the line, you need to have all of your numbers organized into something like a spreadsheet with formulas that automatically calculates these figures for you to give you the ability to see into the financial future of your business.
And in this episode I’ll be sharing how these formulas can help you be crystal clear about your numbers, and I’ll even be giving you these as a download, so stay tuned till the end of the episode to learn more about how to download my spreadsheet and get access to these formulas.
Show notes: https://freelancetofulltimepodcast.com/104