For the last few weeks I have been thinking about a new big goal. I`ve worked as a Freelance software consultant/engineer for 3 years now. When I came from Webdesign for smaller companies it was new and I had to get settled. Now I am settled in the business and want to use it as home-base for a new, bolder goal:
500 thousand Euros in sales a year, VAT excluded, at least 75% profitable. In less than 30 hours a week. To be achieved at December 31st 2022.
At this point I do not really have an idea, if it‘s possible or how exactly I can achieve it. But it‘s a great chance for me to work on a new long-term goal.
500 thousand Euros in sales a year, VAT excluded, at least 75% profitable
This number is a multiple of what I ear now. And because I do mostly exchange money for time, I cannot scale it to reach 500k. This is one interesting aspect about this goal.
On the other side 500k in sales represents certainly dozens, maybe hundrets or thousands of users, who would value a product/service I offer enough, to pay money for it. Therefore I am positively influencing their lives.
Currently I am about 80% profitable. This is something I want to keep. But as my sales grow, I will be able to spend more, as the slice of the cake grows in size.
In less than 30 hours a week
For many of us long work weeks are exhausting and often hard on our relationships. When leaving for sports early, I sometimes leave the house around 6:20 a.m. and return about 7:30 p.m. from work. I am starting to change this and take every second Friday off.
But ideally I would have only a few things to do and work maybe 20 to 25 hours a week.
Interestingly I will have to achieve this goal in part-time, because I will still be doing freelancing.
This is going to be most interesting part of me on my new goal, as nobody really knows how to cut time on a business that big. If you do, please get back to me!
To be achieved at December 31st 2022.
Well, I probably won‘t be able to do it within a year. Especially in part-time. And I think it can actually be a good thing. Organic growth is something I really value, because it attracts the right people; but it takes its time.
I have a few thoughts on how to get there at the moment, that will follow.