How Long Will it Take to Double Your Sales?

Doubling your sales is an ambitious goal for most business owners, but is this practical and if so, how long will it take?

It is not as difficult as it seems if you break it down into smaller components, such as the average percent increase that is needed each year to double your sales. Here are examples of how long it will take in years to double your sales based on your compounded growth rate percentage:

Growth Rate      Years to Double

5%                          14.2 Years

10%                        7.2 Years

15%                        5 Years

20%                        3.8 Years

25%                        3.1 Years

30%                        2.6 Years

40%                        2.1 Years

50%                        1.7 Years

 

Even a modest 15% growth rate will double your sales within 5 years, which is very reasonable. If you are able to keep your growth consistent for another 5 years, then you will double your sales again, which translates to a quadrupling of sales from your base. For example, a company with $1M in sales will double to $2M in 5 years and in another 5 years will double again to $4M.

Always do the math when figuring out how to achieve your sales goals to make sure you are on track.

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