By Mildred J at July 10 2019 20:47:42
Next you will need to carefully examine what actually goes into your offering. How many hours does it take to create those one_of_a_kind bracelets? How much does it cost to bake a dozen of your special recipe cookies? How much research goes into "whipping up" a website? Making tangible goods requires space. Do you have room to grow enough squash to actually generate profits? Are these numbers you could sustain beyond the occasional personal or family use of your product or service?
Second, decide what you want your salary to be. Third, determine how many years in the future you want to plan for. Fourth, you will need to know: 1. What % is your material cost of sales 2. What % is your labor cost of sales? 3. And what % is your variable expense of sales?