Given the investment of time and money – and personal sanity – that goes into running your own business, it goes without saying that every entrepreneur wants to be successful. However, success means different things to every entrepreneur.
Some may be happy owning a small but bustling bricks and mortar store that gives them a nice change of lifestyle from the corporate world, while others want to make a difference in their community, or be the next Mark Zuckerberg.
No matter what your definition of success is, Honcho can help you get there. As well as helping set up new businesses with an ABN and name, Honcho helps entrepreneurs bring in sales online with a free business website, and instantly sends invoices to customers so they can bring in money faster. All those documents that are key to tracking numbers are then saved in the secure Honcho vault so entrepreneurs can check their progress.
Whatever success means to you, the path to achieving it means converting it into a business goal and creating a series of milestones you need to hit that will help get you there, effectively reverse-engineering your success.
Again, depending on your measure of success, these milestones will differ from entrepreneur to entrepreneur. If you start a business in your spare time, maybe your goal is to make enough money to quit your job and go full time on your own dream: the important question here is, of course, how do you get there?
Like most things these days, the answer can be found in data. Forget kind, encouraging words from family and friends who are obliged to believe in you – numbers never lie.
How much more revenue do you need to bring in to make up the difference between how much you’re already making and how much you need to comfortably go full time? Exactly how many sales do you need to make to get that revenue? How many clicks will it take to convert a visit into a sale?
Countless entrepreneurs have had to answer these questions. One such entrepreneur is Nicole Kersh, founder of 4cabling and now ecommerce consultant. Kersh launched 4cabling, an online store for cabling and other IT supplies, when she was 21 and still studying at university.
Rather than look for a grad position which would have her work for someone else, Kersh decided success having her own business. So, she studied the numbers around 4cabling and decided to invest all her time and effort into the venture. Almost nine years later she had built the business up to the point where it was generating $10 million in revenue a year, and sold it to a private equity firm.
Another is Financial Crimes Solutions, which founder Anthony Quinn worked on for several years while keeping his job at Macquarie Bank. Quinn was able to convince the bank to let him work on his own venture one day a week, but eventually the business hit all the milestones Quinn had set for it and he decided it was time to go full time.
This post is powered by Honcho. Making it easy for business owners everywhere to be set up for success so they can focus on doing great business and achieving their dreams.
Featured image: Nicole Kersh. Source: The Australian.