Assessing Financials of Your Start-Up Ventures & The Ugly Side of the Side Hustle
Last week I took the time to put some numbers to paper for my 3 baby start-up ventures (HTX Mom Blog, The Modern Wreath Co., and The Social Admin).
I calculated the income I thought I could make in the next few months of my 3 start-ups. Then I did the same for the first year, and then I went balls to the wall and hopped on the “what if my wildest dreams came true” train and forecasted out 5 years of kicking ass and taking names, hard-earned entrepreneurial income.
I calculated what my projected expenses would be for these start-ups for the first few months, first year, and the those amazing and dreamy first 5 years.
I estimated the value of my time, as in I actually assigned myself a rate per hour.
And what I came up with was…
Well, to be frank, it was discouraging.