Hurray, 270% Growth for 2014!
This year went much more smoothly than last year in terms of my online business and my personal life. Overall, it was a pretty OK year.
Last year when I wrote my 2013 wrap up, I had stated at the end my goal for 2014 was to grow another 300%. While I didn’t quite reach 300%, I did achieve 270% growth which I don’t think is anything to be ashamed about!
Let’s recap how 2014 went...
This year, I actually had a previous year to compare, so it will give a better basis as to what type of growth is actually possible in this business from the first to second year.
Here’s a graph showing my total income growth from the beginning of 2013 until the last quarter of 2014:
Yes, I know the actual income figures are whited out. I did this because I don't want anyone to be too focused on the numbers. It varies so much from person to person that what I earn is pretty irrelevant to what you can earn or what others here earn.
This gives you an idea of what 2 solid years of working in online business can do. I’ve been steadily profiting more each quarter and I hope I can continue the same trend throughout this year.
Here’s the breakdown of the growth I experienced each quarter of 2014:
Quarter 1 2013-Quarter 1 2014 - 113,733% growth
(I know this is seriously a huge number, but my first quarter profits of 2013 were just pocket change, and the next year I did much, much better).
Quarter 2 2013 - Quarter 2 2014 - 509% growth
Quarter 3 2013 - Quarter 3 2014 - 347% growth
Quarter 4 2013 - Quarter 4 2014 - 120% growth
Overall, 2013 - 2014 = 270% growth!!!
I only fell 30% short of my goal, but I’m still proud of how the year turned out.
How to Calculate Business Growth
If you don’t know how to calculate growth, here’s the formula I used:
(Current Earnings - Previous Earnings) / Previous Earnings
x 100 = % Growth
You can use this formula to calculate growth from quarter to quarter, or from year to year.
So for example, say you earn $6,000 your first year, and $20,000 your second. You’d take:
(20,000 - 6,000)/6,000
14,000/6,000 = (approx) 2.33
2.33 x 100 = 233%
So you’ve experienced a 233% growth between year 1 and year 2. Alternatively, if those earnings were quarterly (or monthly) instead of yearly you could still use the same formula to compare each quarter or month.
Now I would like to consider myself a realist. I’m not expecting my business to continue to grow by 300% every year (because eventually that would just get ridiculous), but I think I’m going to reach for the stars and attempt another 300% for this coming year! Wish me luck!
I hope everyone has a great 2015 and I wish you all the best!