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Making your business sustainable – Creating profits


Tatawwar

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Unit Video

Unit Summary

In the last module you identified the amount of profit you could generate from each sale.
Now calculate the quantity of sales that you expect to have in the next 12 months. Multiply the profit from each sale by the quantity. This will give you the total profit of your social business over the year.
Then, calculate the fixed costs you would need to pay for in the next 12 months. This includes salaries of people who will be working for your business and any other monthly expenses. It is good to keep these as low as possible.

Build Your Action Plan

You have come a long way in this course!
You have learned about water, climate and health challenges that the world is facing. You have learnt the process of coming up with new and original solutions to these challenges and finally, you learned how to develop your Social Business.
Over the past modules, you have identified the ideal customer that could buy your solution because of the extra value you will provide. You have also identified the resources and partners you need to deliver your solution.
You are already working in an area that is good for people and the planet.
Now, we are ready to build a simple financial plan to help you determine if the business can pay for itself in the long run.
In the last module you identified the amount of profit you could generate from each sale.
Now calculate the quantity of sales that you expect to have in the next 12 months. Multiply the profit from each sale by the quantity. This will give you the total profit of your social business over the year.
Then, calculate the fixed costs you would need to pay for in the next 12 months. This includes salaries of people who will be working for your business and any other monthly expenses. It is good to keep these as low as possible.
Finally, you can work out if you have a successful business model. Are the total profits higher than the fixed costs? If not, you will need to go back and reduce the fixed costs, increase your profits or plan to sell more.
There is nothing guaranteed in business, but if you put a good plan in place, you have a better chance of success. As the saying goes, failing to plan is planning to fail!
Congratulations! You have reached the end of the course. The submission fields below will remain open and you can edit and make changes to everything up to the deadline. Use the opportunity to go back in the course, review your assumptions, plans and solutions, and update your answers.
We are looking forward to reading about your innovative solution and helping you develop your Social Business.
Stay tuned for the webinars and workshops that will take place over the next few weeks. You can use these sessions to get answers to any questions you may have.
Good Luck!