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Give yourself a minimum margin of 30%

  • By Alan Knott-Craig
  • December 5, 2017

 

In business, you always need room for error.

 

A safety zone. A buffer.

 

If you buy and sell a widget, you want to make sure you don’t pay more than you can sell it for.

 

The rule of thumb is 30%.

 

If you think you can on-sell a widget for R100, then never pay more than R70.

 

That buffer will save you from losing money.

 

If you buy and sell seven R100 widgets at a 30% margin then you will triple your money.

 

Give yourself a minimum margin of 30%.