Achieving the breakeven stage is a pivotal milestone in the Nehemiah Business Life Cycle, as it represents the moment when your revenue covers both fixed and variable expenses. This is also the stage where it is integral to elevate your success rate and ensure that your business progresses beyond the proof of concept to true viability. If you find this stage challenging, my advice is to consider cutting your losses. While your passion for the idea is commendable, an inability to break even may indicate that the concept is not viable, or there might be a gap in the skills needed to navigate this crucial stage. We recommend that you set out to break even within the first 12 to 36 months from the start of the business.
KEY CONSIDERATIONS
- Are you effectively minimizing your costs by following Nehemiah’s example?
- What unnecessary expenses can be trimmed to ensure a clear path to breakeven?
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Lonny & Sherri Hutchison
Owners of Perfect Climate Inc.
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Training and Planning
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Enroll in the Life Cycle course where you will learn in detail the characteristics of all the stages, the challenges, keys to success to navigate each stage as well as the checklists of action items to take.