I have been analyzing my past few years in domaining with investment, flipping, outbound, sales and the cash flow that it generated. I recently realized that without a minimum 5 figure cash flow, it'd be just a hobby and not a business.
While the first year was nothing and no sales, the learning in that year was immense. The second and third years went well and I did 5 figures in outbound. The years after that have been slow as I had varied interests and involved myself in different work.
This year, I plan to do 5 figures in sales at least. Not one big sale but add up small ones to compound and reach those figures.
While the targets may vary for different people differently, I think a 5-figure income annually is minimum to distinguish this business from pursuing it only as a hobby.
What are your thoughts on this?
How do you keep the analytics of your cash flow and how are your targets coming along considering that we are almost half through this year?
While the first year was nothing and no sales, the learning in that year was immense. The second and third years went well and I did 5 figures in outbound. The years after that have been slow as I had varied interests and involved myself in different work.
This year, I plan to do 5 figures in sales at least. Not one big sale but add up small ones to compound and reach those figures.
While the targets may vary for different people differently, I think a 5-figure income annually is minimum to distinguish this business from pursuing it only as a hobby.
What are your thoughts on this?
How do you keep the analytics of your cash flow and how are your targets coming along considering that we are almost half through this year?