The magic of breakeven and how it can help set sales goals
publication date: Feb 1, 2020
I’ve been teaching business skills and financial management to farmers for over ten years. When I started out, I was fresh out of business school and teaching college accounting. I was very academic in my approach.
Over the years, I’ve adapted my approach to what resonates with my clients and “students.”
The one topic that has resonated more than any other – and I now include in every presentation – is the breakeven formula. When I share it, I can see eyes light up … it helps to clarify goals for the farm business. It turns the “increase sales” to “increase sales to a specific goal.” And as we all know, the more clearly you can define a goal, the better the chance you can achieve it.
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