Entrepreneur

0 readers

1 users here now

Rules

No Personal Attacks - criticism of ideas is allowed, attacking people is not.
Self Posts Only - links can only provide supplementary material. Your post must contain enough content to have a discussion.
No “How To Get Rich Quick” posts - This community is not about making a quick buck. Posts asking the community how to make $X, without making specific reference to a reasonable idea, are not tolerated.
Avoid unprofessional communication - Please treat fellow entrepreneurs like respected coworkers, label conversations if NSFW and avoid deliberate provocations.

Please feel free to provide evidence-based best practices, share a micro-victory, discuss strategy and concepts with a frame work, ask for feedback, and create professional conversation. Treat every post as if you're at work and representing the best version of yourself.

founded 2 years ago

MODERATORS

communick@indiehackers.space

Questions for the Millionaires (alien.top)

submitted 2 years ago by EliPro414@alien.top to c/entrepreneur@indiehackers.space

25 comments fedilink hide all child comments

Those who bring in $1Mil+ a year from their business, what kind of business do you run or what sector are you in? How many attempts of starting businesses did it take to get to where you are? And if you had any advice or tips to those wanting to get started, what are they?

you are viewing a single comment's thread
view the rest of the comments

[–] Available_Ad4135@alien.top 1 points 2 years ago

I looked at purchasing a furniture e-commerce business recently. It caught my attention with 1.5M in sales and 50% gross margins.

When I dug into the figures, revenue had declined from a peak of around 3M and was currently losing 250k per year.

The lesson: Find a profitable business model you can scale. Scaling without profitability is a waste of time and money.