I don’t really know who else to tell this to, but I just passed the $100,000 mark in my business with a month left to go for the year.
This is crazy to me and I hope this is encouragement to someone out there, If anything at all.
I’m 6 months post graduation and I never wanted to get a job…so I stuck to my guns and continued my business instead.
Can posters please add if that’s revenue or net profit and details about the business or any advice you want or give.
Otherwise it’s more a message to your friends since we are all here lacking context
It doesn’t matter if it’s revenue or profit. He doesn’t need to disclose that.
Most of the time people who mention this are just hating lowkey anyways
I’m sorry, but this question is dumb. You’re showing your ignorance by asking it.
I know it’s a popular question in this sub, because we all like to tear people down, and everyone’s a scammer, but first of all, it’s a personal win they want to share. They’re not trying to teach you how to do things, or sell you a course. They’re just excited that they hit a personal milestone. Quit being such a negative jerk and lend a fellow entrepreneur some support - it’s hard enough when your 9-5 friends and family don’t understand the entreprenur’s journey, we should at least support each other on it.
Secondly, it takes all of a second to click OP’s profile and see that they “produce music for artists and film companies” and “have a site where I upload my instrumentals for sale”. And yeah, that comment was at the top of their post history when you replied to this, but I can understand how in the rush to be the first person to question whether this was revenue or profit, you didn’t have time to even take a cursory glance at OP’s post history to see if they’ve mentioned their business before.
Now why does the type of business matter? Because, if you don’t understand the sort of profit margins he’s dealing with in a business selling digital products, then you probably shouldn’t be asking these sorts of questions.
And this isn’t specifically targeted at you. I see this question ALL THE DAMN TIME in this sub, and it’s usually asked at times like this where it just don’t make sense.
People complain all the time that seasoned/successful entrepreneurs don’t post in this sub, and it’s stuff like this. Like why the hell is this the most upvoted comment at the time I’m writing this reply? There are much, much, MUCH better questions you, and everyone else could be asking from a recent graduate that’s done 100k in sales this year.
Or you could just offer your congratulations.
Not that I think post OP is doing this, but I think e-commerce dudebros are why people are a little weary.
You’ll see a ton of ads for “6 figure business in 6 months!” While neglecting to mention they made 100k at 30% GP and most of that 30% went to ads lol.
Ecommerce money spends the same as any other.
In perhaps not the optional way I was trying to express I would love more shareouts in these types of posts. Depending on for how much someone buys and how much money and time they invested into it, they would be better served with feedback than just compliments, before they are in over their head (I had a friend shoot up during covid but crash because he didnt do risk management for liquidity). Or perhaps it’s great, then they can share out what worked along the way.
It’s ok if you think only emotional milestone posts are cool and then we can have a polite debate about it, no need to trow away words like “ignorant” or get worked up
I dunno, I respectfully disagree that you were trying to add value If I am mistaken, then I apologize, but I stand by my statement that this sub needs to lose its obsession with asking that question.
Makes sense if that’s being asked all the time. I am mostly part of entrepreneur groups outside of reddit and was a bit hoping for more shareouts. Point taken
Also add where you live, due to cost of living differences. This plays the biggest role, but people just throw out that they make $100K without considering that. You’ll be living like a king somewhere rural, but if you’re anywhere expensive… Not a chance.
I’d say the “new” 100K is due to inflation, is actually $150K, if not higher.
99% of the time if its not mentioned specifically then theyre referring to revenue.
It’s 95% profit. My profit margins are very good with this business
You gotta pay the person who does the music (you), don’t you?
I imagine it’s the same thing (they pay themselves the 95%), given it’s likely a non-incorporated business with a single owner.
Your question makes more sense where there are multiple owners or whede profits are pushed back into growing the business and the owner works for free, but even then it’s really only an issue if you’re seeking a valuation based on the profit. This is why you hear this question asked so often on Shark Tank.
But it doesn’t really matter how you slice it, profit is profit. If OP can live cheap and reinvest profits, good for them
Pretty neat! Sorry for starting a bit of a heated discussion, I didn’t expect that feedback.
Congrats, specially in the music area, that’s quite a feat. Anything you want to share that works well or is a surprising insight?
He is doing a house flipping. He bought a house for $99,500 and sold it for $101,000 !!! Giving him a nice smooth 6 figure mark for the business!!@
Haha jk but some people do this and then try to flex the “sales” to people who don’t understand revenue vs profit