By Carly W at July 30 2019 12:31:08
Don't Make Assumptions About Customers _ To be an entrepreneur does require plenty of self_confidence, sometimes almost a bloody_minded determination to make your business work. But this confidence spilling over into thinking that you know what 'the market' wants can be dangerous, without checking that it's true. You need to do your research that the market does ultimately want what you will be offering, whatever products or services you will be selling.
Now, in addition, when you know the average number of transactions per customer and you know your average dollar sale per transaction, you can also project how many customers you would need over those 10 years as well. This would tell you everything about what your business would need to do to give you the salary you want. So, wouldn't it be nice to see what a plan like this would look like? Could you do it? It might not be as tough as you might think.