Sarah Parker Thomas
  • Blog
  • Welcome
  • Bliss Soul 2 Soul
  • Articles
  • Coaching
  • Healing
  • Events
  • Shop
  • About Sarah
  • Contact
  • Videos
  • Terms of Use
  • Build Your Dream Business
  • F A Q
  • Social
  • Newsletter
  • VIP Business Library
  • Health/Nutrition Member Area
  • VIP Wellbeing Library
  • Business VIP Area
  • Empath/HSP
  • Energy Medicine

Set Your Business Goals By Working Backwards

12/10/2018

 
Picture
Day 4 of the Mini Business Challenge
If you are having a difficult time defining your financial business goals, I would suggest you work backwards. Once you have that BIG, ultimate goal its easier to break it into smaller, on point tasks. 
Picture
Begin with a money goal. It helps if that goal has a meaning beyond the dollar figure. For example, lets say that I want to buy a new car. The payment is around $400. Taking into account for things like taxes, insurance and perhaps a warranty, it could be more.  So lets say we  bump the goal up to $600. In other words, I need to add an extra $600 (or more, because more is always better) to my monthly bottom line. Once that is done and I am seeing that level of income on a regular, consistent basis, I’m ready to order my new car, yeah?

The next step is pretty simple, once I know how much money I have to make, I can start to think about different ways to bring it in. I could find more customers, or add to my existing products. Also I could create more products to sell. But I need to figure in price points and gross profits as well.

For example, if I have a $10 eBook, I would have to make an extra 60 sales per month. From there I can work backwards. If I know that on average one out of 10 email subscribers buy the book within the first month of signing up. (We learned this from the data, remember? Click here to read about what data your business should be collecting.)

 I need to add 600 new subscribers to my list, which in turn takes 4,000 new visitors to my site. If that is my plan, I know that my daily to-do list needs to include plenty of action steps to ramp up my traffic by an extra 4,000 people per month. (Which is do-able, by the way.)

But that is not my only option. I could also create another information product or eBook each month and sell it to both my existing and new subscribers. I could also create a higher priced item. If so, I would need to make a lot fewer monthly sales to reach my $600 goal. For example, if I 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 my own membership site, or I could look into affiliate offers with recurring commissions. I could also raise my prices on existing services and products to bring in extra cash each month.

After I know my goal (extra $600 a month for a new car) and pick my approach; (adding products) it becomes a lot clearer.  Now I have a concrete goal to work towards. 

Because I really want that new car, I’m going to be motivated to get it done and grow my business by that extra $600 per month. In fact, chances are great that I’ll overshoot the goal by several hundred dollars! #Win!

Now, take this formula and apply it to your business. What financial goal are you shooting for? Once you understand how much extra you need, consult the data you are collecting to find the best approach to raise the money.  It can honestly be that simple, once you understand this approach!

See you tomorrow when we discuss the next step in making your business dreams for 2019 reality.


Speak soon!
Sarah

Read: Day One (Video)
           Day Two
           Day Three
          This is Day Four



Health, wellness, success, spirtual living

Comments are closed.

    RSS Feed

    Sarah

    "My zone of genius is around mentoring, guiding and coaching inspired, creative, conscious and spiritual entrepreneurs and individuals to connect with their deepest desires and values so they can rise with grace. I believe in treating the "whole person" and with simple energetic shifts they can reach their highest potential and serve from a place of inner peace and fulfillment."


    ​To learn more about Sarah click here.

    Archives

    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015

    Picture

    Categories

    All
    Abundance
    Affirmations
    Anger
    Anxiety
    Audio
    Bliss Challenges
    Book
    Books
    Business
    Challenge
    Checklist
    Couple Coaching
    Crystals
    Dating
    Depression
    Empath
    Energy Healing
    Event
    Fear
    Forgiveness
    Free
    Gratitude
    Grief
    Inner Guidance
    Intuition
    Law Of Attraction
    Live
    Manifesting
    Meditations
    Monday Motivation
    Money
    Nutrition
    Pain
    Panic Attack
    Quiz
    Reiki
    Relationships
    Removing Wealth Blocks
    Retreats
    Sale
    Self Confidence
    Self-Confidence
    Self Esteem
    Self-esteem
    Self Love
    Shadow Self
    Soul Mate
    Spiritual Reiki
    Support
    Videos
    VIP
    Webinar
    Wisdom
    Workshops

    RSS Feed

    “If I am not good to myself, how can I expect anyone else to be good to me?” 
    ― Maya Angelou
    Picture
    Picture
    "Every day is a new beginning, choose wisely."
    -Sarah Parker Thomas
    Picture
    Picture
    “We are all a work in progress.
    ​And the possibilities are endless.”
    Sarah Parker Thomas 
    Picture
    Private Coaching
    Picture
    Picture

Services

Online Consultation
Private Coaching
Events
​Shop

Company

About
The Company
Blog
Social

Support

Contact
FAQ
Terms of Use
Mail: Sarah@sarahparkerthomas.com:
© COPYRIGHT 2015-2023  ALL RIGHTS RESERVED.
Picture
  • Blog
  • Welcome
  • Bliss Soul 2 Soul
  • Articles
  • Coaching
  • Healing
  • Events
  • Shop
  • About Sarah
  • Contact
  • Videos
  • Terms of Use
  • Build Your Dream Business
  • F A Q
  • Social
  • Newsletter
  • VIP Business Library
  • Health/Nutrition Member Area
  • VIP Wellbeing Library
  • Business VIP Area
  • Empath/HSP
  • Energy Medicine