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Is there much advantage starting out defining how rich you want to be? Yes. Quantifying your goal helps you answer questions like "How can I get there from he
by jjs 16y ago
Is there much advantage starting out defining how rich you want to be?
Yes.
Quantifying your goal helps you answer questions like "How can I get there from here?", "How long will it take?", "Will I ever make it there at my current trajectory?", and "Do I still need to work anymore?"
And it will also tell you, "How much do I have to charge, and to how many customers?", which will help you avoid low-margin, hard-sale markets, and get you thinking about recurring revenue.
- mburney 16y agoDoes how much you charge really depend on how much you want to make?
- Timothee 16y agoIt does in helping you realizing if the market you're targeting is big enough to achieve your goal. If your goal is to make a million dollars a year with a certain product or service, the number of units of that service or product that you can provide (e.g. you have time to take on only so many projects a year, you're hand-building furniture and can make so many a week, etc.) or the expected number of sales you can make tells you how much you would need to charge to reach your goal. price = $1,000,000/# units But it really depends on what end of the stick you're looking at. The OP's objective is to reach a certain revenue. You can look from the other side and say "I'll be selling my product at that price, which means I'll make price*units per year."