The Personal MBA

Master the Art of Business

A world-class business education in a single volume. Learn the universal principles behind every successful business, then use these ideas to make more money, get more done, and have more fun in your life and work.

Buy the book:


What Is 'Sufficiency'?

Financial Sufficiency is the point where a business is bringing enough profit that people find it worthwhile to keep going for the foreseeable future.

Maximizing profits is not everything, but you can't create value if you can't pay the bills.

To ensure you're maintaining financial sufficiency, calculate your Target Monthly Revenue (TMR). If you bring more than your TMR each month, you are sufficient.

Sufficiency is subjective. Different businesses have different sufficiency points.

If you reach Sufficiency, you are successful, regardless of how much money you make.

Questions About 'Sufficiency'


"Know contentment and you will suffer no disgrace; know when to stop and you will meet with no danger. You can then endure."

Lao Tzu, ancient Chinese philosopher

From Chapter 5:

Finance


http://personalmba.com/sufficiency/



WANT TO BE NOTIFIED WHEN UPDATES ARE PUBLISHED? Subscribe to Josh Kaufman's email newsletter. You'll receive Personal MBA updates, Josh's award-winning research, and useful resources that will help you make more money, get more done, and have more fun. It's free!


The Personal MBA

Master the Art of Business

A world-class business education in a single volume. Learn the universal principles behind every successful business, then use these ideas to make more money, get more done, and have more fun in your life and work.

Buy the book:


About Josh Kaufman

Josh Kaufman is an acclaimed business, learning, and skill acquisition expert. He is the author of two international bestsellers: The Personal MBA and The First 20 Hours. Josh's research and writing have helped millions of people worldwide learn the fundamentals of modern business.

More about Josh Kaufman →