Let's talk about what it takes to double your business income.
Because whenever I ask clients; “what do you want your business to do in the next 12 months”?
80 percent of the time the answer is “DOUBLE”
Let me share a secret with you.
To double your business it only needs to grow 25% for 3 years. (source: Cameron Herold – Double Double)
I'll prove in a minute.
When you think about it, 25 percent is NOT all that much to double your business is it?
Let’s take a closer look.
broken down that’s only a 2% growth per MONTH!!
if your business can’t grow by 2% there is something VERY wrong.
trust me. I know 🙂
but that's for another post.
let's look at a simple example of how to double your business income in just 3 years;
First off, I'm no math guy.
But when it comes to a simple way to double your business like this, I'm IN! (but just in case you find a miscalculation I'm pleading the 5th 🙂 )
let’s say you sell $1,000/m. that’s 12k in revenue a year.
we take 25% of that.
which means in the first year you add $3,000 by selling only 2 percent more every month.
to be clear, it means you’re only selling $250 extra per month.
believe it or not you're on the path to double your business.
because the next year you do it all over again.
but this time you work with your new revenue of 15k. Which is the original 12k + the 3k you generated over the year.
we then take 25% of that NEW annual revenue.
which means you now have to sell 312.50 extra per month instead of $250. Still not a huge jump, am I right?
of course that gives you an extra $3750 for the second year.
BOOM!
we're not done yet.
Now in year 3 you begin with a total income of $18,750 from the year before. (15k + 3,750)
now. at this this 3rd year you need to sell $390.63 extra every month. but you're on a roll to double your business income already right?
so you bring in an extra $4687.50 income for the year.
and when you add this to your revenue you have a total of $23,437.50!!!
here's the bottom line:
we started with 12k.
in just three years we make $23,437.50.
okay, so it’s not EXACTLY double. but I'm sure you won't be upset with the simple formula to double your business I just showed you.
here's how it looks:
this is totally doable. without grinding hard.
so many entrepreneurs like to complicate everything. or they swing for the fences every time.
when small base hits like this win the game every time.
in this case it's to double your business.
what do you think? lemme know below.
and if you're in the mood to double your business and want some help with simple marketing strategies, here's how we can work together.