Today I want to share my thinking process for setting smart business goals with you. I like to work backwards from a financial goal to daily to-do lists.
Here’s how that works. It always starts with a money goal. It helps if that goal has a meaning beyond the dollar figure. For example, let’s say that you want to buy a new car. The payment is around $400. To account for things like taxes and just to be safe, I’ll bump the goal up to $600. In other words, you need to add an extra $600 (or more…more is always better) to your monthly bottom line. Once that’s done and you’re seeing that level of income on a regular basis, then you’re ready to purchase your new car.
Once you know how much money you have to make, you can start to think about different ways to do that. You could find more customers for one or several of your existing products. For example, if you have a $10 eBook, you would have to make an extra 60 sales per month. From there you can work backwards. If you know that on average one out of 10 email subscribers buy the book within the first month of signing up, you need to add 600 new subscribers to your list, which in turn takes 4,000 new visitors to your site. If that’s the plan, you know that your daily to-do list needs to include plenty of action steps to ramp up the traffic by an extra 4,000 people per month.
Of course that’s not the only option. You could also create another information product or eBook each month and sell it to both your existing and new subscribers. You could create a higher priced item so you need to make a lot fewer monthly sales to reach your $600 goal. For example, if you create a nice $100 product, it would only take 6 sales per month to pay for the car.
Since the car payment will be an ongoing thing, it also makes sense to look into recurring payments. This could be your own membership, or you could look into affiliate offers with recurring commissions. Depending on your market, there’s a lot out there that you can promote. Once again…you’ve got this and guess whose got your back??? Yep…you’ve guessed right! ME!!! NOW GO BE GREAT!
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