Just imagine what business would be like if you had all the customers you could ever need. The stress that comes at the end of the month when you have to meet your bills would be gone. You would be left to focus on what you love about your business.
MyCentralJersey.com suggested that entrepreneurs stop and consider a few questions.
So how does one reach this state of marketing nirvana?
Know how many customers you actually need – Think of it this way: what do you want your business to do for you? Does it need to support your family? If so, what are your living expenses in a given month? Are you just seeking some extra income? If so, how much? What must you earn to both cover your costs and save for the future?
These questions may seem rudimentary, but we meet dozens of entrepreneurs who fail to consider them. Do yourself a favor and figure out how much you want to earn. Then figure out how much you need to sell in order to reach your goal.
You’ll need to take all your business expenses – any cost you incur by producing or delivering your product or service – and subtract that from your total sales income. You’re left with your net profit, which is your pay as an entrepreneur.
Photo by Alan Cleaver