MBA1289 How to Get to $5K a Month as Fast as Possible

The $100 MBA Show

Omar Zenhom

Careers, Entrepreneurship, Business, Marketing

4.9 • 1.2K Ratings

🗓️ 18 June 2019

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

The key to sustainable small business: minimum profitability. The $5k per month mark is a crucial one, known as the “escape velocity” at which revenue generation is strong enough to actually, truly sustain a company. If your business can make it to $5k quickly, you’ll know for sure whether it’s a winner, or if it’s time to pull the plug and move on.

Transcript

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0:00.0	Heyo! Welcome to the $100 B. Show business coaching every day with our daily 10 minute business
0:15.0	lessons for the real world.
0:17.2	I'm your host, your coach, your teacher Omar is at home.
0:20.6	I'm also the co-founder of the $100 MBA, a company
0:23.7	business training, and community online.
0:26.1	And in today's episode you will learn how to get the $5,000 a month
0:30.5	as fast as possible.
0:32.2	Between five and $10,000 a month is what as possible. Between five and ten thousand dollars a month is
0:34.2	what's called escape velocity in the business world. This means this is
0:38.9	where your business starts to have legs. This is kind of proof that you have something on your hands.
0:44.0	Five to ten thousand dollars a month is enough for you to kind of take care of your
0:48.2	minimal expenses for the business and take home a very modest salary for yourself.
0:52.1	If you can make five to ten
0:54.3	thousand dollars a month in reoccurring revenue it means you have something on your
0:59.2	hands you have something that people want something that generates revenue It's not just an idea that's not
1:04.6	implemented properly. So how to get to this point as quickly as possible so you're now
1:08.1	grinding it out for months and even years to get to this point? And that's what we get into today's episode. It's really important because you don't want to be wasting too much time on something that doesn't have legs. You just don't have the time, you don't have the effort, you don't have the will, don't have the will not to mention the money
1:23.6	to run a business that's not making money so I'll be sharing my best
1:26.8	strategies when it comes to getting to escape velocity as soon as possible there's
1:32.3	going to be some sacrifices on your end, but it's going to be
1:34.3	worth it because you're going to get results quickly. Whether those results are, hey, this business
1:38.8	is not worth it, or I hit my 5 to 10k that's rock and roll.
	...

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