Why knowing your business threshold income can lead to business success

Why knowing your business threshold income can lead to business success

One of the basic things when venturing into business;
Work out what I call the “threshold income” the minimum amount you need to make monthly to cover your cost of sales, your salary and all other crucial expenses.
Knowing it will not only force you to work hard(sell) but also give you direction because you’ll know that if your monthly threshold is R6k and  you want to double sales you’ll know how many deals you must close.
[Not forgetting the profit and savings allowance]
Your business (especially if you’re a full-time business owner with no other income stream) needs to sustain you and itself sales wise.
#KgadiOnStrategy

byKgadi Mmanakana

I am a researcher, thought leader and consultant on New and Emerging Markets, Business Model Innovation, Turnaround and Corporate Strategy. I embraces and integrate the 4th Industrial Revolution in my work. My belief is that there's some truth to every business idea, one shouldn't be quick to throw it away.

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