Thoughts on business.

I think one of the most important aspect to success is writing down your goals for a specific time frame. I always write down statistics about where I am, where I want to be and the steps I need to take to get there.

For a long time I have written down my weekly earnings and then set a goal for the earnings I want to reach for next week/month/year. Let’s say I sold 10 donuts in a week for $10 each, that means I made $100 in a week. I might set a goal to earn $250 next week, now I know how to sell donuts but I need to find a way to either sell more or earn more. For $10 per donut I need to sell 25 donuts next week, so I need to attract more people that want a donut, there are endless ways to do that. I could also find a way to earn more per donut, I could add a new topping and sell that donut for $12.50, Now I only have to sell 20 of them instead of 25. Another approach is offering a bundle discount, for example “Buy 2 donuts and get the 3rdone for free”, people fucking love when they think they are getting free stuff and when they have decided to buy 1 donut, the buyer mentality is already switched on so it’s way easier to get them to buy more.