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MatthewKeath
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Khalid Adam, post: 134634 wrote:
Gordon, it’s the bare minimum. If the business cannot make that little, why bother – unless you have deep pockets and building an empire?Seriously?

Why bother? If that was the case then a huge amount of million dollar businesses would simply not exist.

One example is a mate of mine who moved into a very competitive industry, and struggled while working 12 hours days for 12 months. He is now employing 5 and enjoying an awesome lifestyle. Ask him if he should have quit after 6 weeks and you will not get a very diplomatic answer!

The real answer is less arbitrary – it depend on the industry, your strategy and goal, and a stack of other factors.