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It’s not good to run a business that loses money. How can you prevent that?

Notes from Chris

Episode 2939

Welcome back to Side Hustle School! Today’s question comes from Jamie in Phoenix, who runs a social media management business. She’s heard about the importance of knowing her break-even point but isn’t sure how to calculate it for a service-based business. We’ll walk through how to figure out when you’re breaking even and how that knowledge can help you grow strategically.

“Hey there, this is Jamie from Phoenix. I’ve been running a small social media management business for about a year now, and sometimes it’s great but other times it’s been a real struggle. So here’s what I’m wondering. I’ve been hearing about how important it is to know your break-even point, but I’m not sure how to figure it out for my kind of business. I don’t sell physical products—it’s all services like managing accounts and creating content. How do I calculate when I’m actually breaking even, and how can I use that info to grow more strategically?”

Listen to today’s episode to learn more…

SEE ALSO:

Catholic Designer Creates Stylish Apparel Line: What shall it profit a man to gain the whole world but not sell any t-shirts? This designer cast his bread upon the waters and ended up with a profitable fashion line.
Seattle Couple Creates New “Income LiveStream”: When a married couple runs into logistical problems at their wedding, it leads to an innovative service that other engaged couples need during the pandemic.
Role-Playing Pastor Rolls The Dice On $2800/Month Hustle: Listener success story! This Presbyterian minister turns to his lifelong interest in role-playing games to set up a sustainable second income source.

Inspiration is good; inspiration combined with action is better. Now get back to work!

Yours in the revolution,

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Q&A: “How do I calculate the break-even point?”

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