The Goals for This Company

On this channel, we're building a one-person company. It's all about creating systems to make a company work. But you need goals, right? So here are the three main goals I've set for now.

Goal 1: Be Cash Flow Positive

This first one might sound a bit low, but the goal is to be cash flow positive.

* The Target: Make $2.50 every single day.
* Why that amount? That's what it costs to run this company right now. I have some fixed costs like bank fees, yearly financial reporting, and the Apple developer fee which is about $100 a year. It all adds up to about $2.50 a day.
* The Plan: I already have a job, so I don't need to take any money out of the company. The idea is to just leave all the earnings in there. I don't need it. I did actually hit this goal once before, but then AdMob killed my app and the income went away.

Goal 2: Make My Work Optional

The second goal is to make my day job optional. I have to say, I already have the best job in the world. I get paid to build things with my friends and it comes with a lot of freedom. So I'm not trying to escape something bad.

* The Target: Make $90,000 a year.
Why that amount? I think it would feel even better to know I don't have* to do it. That feeling of freedom. $90k a year would be enough to cover my part of the family expenses (I've got a girlfriend and three kids) and pay all the taxes. It would give me the option to quit my job if I wanted to.
* My situation: We live in a new house with pretty low living expenses, so my finances are stable. I just need to replace the money I bring into the family, not my whole income.

Goal 3 (The Stretch Goal): $1 Million in Assets

You need a big goal to aim for, right? Something to stretch for.

* The Target: Have $1,000,000 in assets inside the company.
* Not income, but assets. This isn't about making a million a year. It's about the total value built up inside the company.

The Financial Plan

So what happens to the money the company makes?

* I think of the company as a pressure cooker. You just put stuff in, put the lid on, and keep it in there to grow.
* All the profits will go into an investment account. Here in Sweden, we have these accounts where you don't pay capital gains tax. Instead, you just pay a small percentage fee on the total value each year.
* I'll probably just buy funds and let the money work for itself inside that account.
* I'll keep a little bit of cash on hand for operational stuff, like if I need a new computer or a phone for testing. But the rest goes into the investment "pressure cooker."

I'm thinking about putting a public tracker on the company website to show the progress towards these goals. So if you're reading this in the future, you can go check out how it's going.