If you take the time to think about it, making 100K a year with your online business is well within your reach. The key is to have a gameplan on how to get there. By breaking down your earnings goal to a daily value, you can plan ahead and figure out how you are going to make your numbers.

How much money can you make in a day?

Assuming 30 days in a month, that means you only have to make roughly $278 dollars a day in order to hit the magical six figures mark. How achievable making $278 per day is will depend on your average profit per transaction.

How much money do you need to start an ecommerce business?

If you are interested in starting an ecommerce business, I put together a comprehensive package of resources that will help you launch your own online store from complete scratch. Be sure to grab it before you leave! At the heart of it all, making 100K a year means that you need to make approximately $8333 a month.

How long does it take for small business to make money?

If your number is zero, you’re breaking even. For example, a business with income of $100,000 and expenses of $60,000 is making a profit of $40,000 per year. Most small business owners can’t expect profit in their first year, though—it can take up to two to three years to make money.

How many small businesses fail in their first year?

And then there’s the reality that 25 percent of new businesses fail in their first year, according to the Small Business Administration. Even companies that turn a profit may lose it in their first year when they invest back in their business by hiring new people or expanding their product or service offerings.

What’s the average salary of a small business owner?

Here’s another way to look at it: Payscale estimates that small business owners make an average of $40,000 per year in their first five years of business. Salary isn’t dependent on profit, though. An owner can still draw a salary while their business suffers losses.