How many times do i have to scream from the rooftops of austin texas that a JOB will not be paying you a million dollars anytime soon. You can save a million dollars but it would take you lifetime and you will be too old to enjoy it by then. Creating a business and buying assets are the only guaranteed ways to a million. “But Ericka 9 out of 10 businesses started fail.” SO. get out there maybe it takes you two or three tries, better than office slow death. Now will not every business make a million dollars. Here is how I measure how many clients do I need to have a 100k, 200k or 1 million dollar business. Even plumbers, lawn service, bug exterminators, security system installers, HVAC companies and other service/product companies can measure.
50 dollar service X 2000 clients every 12 months. or 500 clients every 12 month if they receive service 4 times a year (quaterly).
100 dollar service X 1000 clients every 12 months. or 250 clients every 12 months if they receive service 4 times a year (quarterly).
500 dollar service X 200 clients every 12 months. or 50 clients every 12 months if they receive a service 4 times a year (quarterly).
1000 dollar service X 100 clients every 12 months. As you go up in price some of these service may only be repeated twice a year or every other year. Keep these clients in your records and follow up as frequently as needed to guarantee another service opportunity.
5000 dollar service X 20 clients every 12 months. As you go up in price some of these service may only be repeated twice a year or every other year. Keep these clients in your records and follow up as frequently as needed to guarantee another service opportunity. HVAC service, home remodeling, roof repairs, structural repairs, etc.
200k business As little as 40 to 2000 clients.
500k business As little as 80 to 4000 clients. Many land cutting companies can make this off 1250 houses in the summer (4-5 months) getting lawn service every 4 weeks or 625 homes every 2 weeks. Some companies basic door to door knocking as their best marketing.
1 million business Scale repeat. More workers, trucks, or neighborhoods to focus on.
I will detail more of this in my future post on creating a side service business, without quitting your job.
$250,000 dollars a year and NOW you are in the 1% everyone keeps crying about. Cutting 300 houses grass. No complaining about a saturated market. Knock on doors if you must, hire a marketer. Follow up is important instead of hunting for new clients, keep the door open for repeat business by following up and sending thank you post cards after every service.
As always if this was informative for you, please share.