Do I have to have a Revenue forecast, and a Break-even point as a sole proprietorship?
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No, you don’t need them, but its great to have an idea as to where you want to go, so you know when you’ve gotten there, or what you need to do to get there. Just as we ask our clients to clearly, think SMART, define their goals, so too do we need to do the same for our business. Your revenue forcast and break even point are part of your SMART goal for the business (I break mine down for each year, quarter, month, week) so you know where you’re going and if you’ll get there. Then don’t forget to revisit them and congratulate yourself on your success!
