Launching and growing a successful side business is no easy task. It takes a great product or service and the ability to market your product or service, but it also takes a great understanding of your numbers. In this video we have for this our expert side hustler will give you a high-level view of the numbers that you should master before launching your side business.
It all comes down to your:
As you will see, there are a whole bunch of levers we can try to pull to impact these numbers.
Examples can help provide clarity, so let's go ahead and use an example of a coffee roasting side business where you sell coffee by the bag to individuals and businesses. Let’s assume you buy the coffee in bulk, roast it, then sell it by the pound to businesses and individual customers. We have gone ahead and made a spreadsheet template from scratch to calculate for when you can expect to reach profitability for this side business and talk you through my thought process so that hopefully you can do the same thing for your unique business situation.
So there is the crash course on projecting your breakeven for your coffee roasting side business. We will make this template that we created together here available to you to download and use for your own side business if you check down in the description of this video.
Here at Side Hustle University we serve as a course guide that is focused on encouraging you to create your own side hustle. We are committed to giving you the best opportunity to identify, shape, and build your business from the ground up. We encourage you to check out our website to learn more about how you can become the side hustler you've always wanted to!