“I'm sick of working for someone else.”
“My dream is to start my own business.”
You might want to start on your own, and become your own boss. It's a great way to take back control of your life and your happiness.
However, often the thing that holds you back is fear, because you at least need to be able to make your monthly salary you have on payroll right now.
So, you end up never taking the leap because you simply don't know how much money you should be making with your business.
Knowing is always better than not knowing (or guessing), so let's calculate how much your business needs to make to equal your salary, in 4 steps.
Step #1: Make an overview of all the business costs you make, or will make, as a business owner.
Think of things such as:
- A lease/rent on a retail space
- Buying material to create your products
- Software you're using
Step #2: Make an overview of your lifestyle costs
Step #3: Take a look at the tax percentage you’ll have to pay, and calculate how much you’ll have to make to pay yourself the amount you need to live your life
Step #4: Then add all of those amounts together and that’s the amount of revenue you’ll need to make in order to match your current salary
Listen to my 15-minute episode 224 ‘How Much Revenue Do I Need to Quit My Day Job’ on the Fail to Win podcast and I’ll run through an example with you! 🎙️
PS Once you know how much you need to make to quit your job and be your own boss, you can work out a plan to make it happen and hit that target. This will make it so much easier to take the leap!
If you want to find out what your hourly rate should be in order to hit this target, simply use my free Hourly Worth Calculator. All you have to do is fill out your different costs and my calculator will do the maths for you.
👉 Do so through fastforwardamy.com/hourlyworthcalculator
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