🎯 Day Four: How To Work Backwards To Set Your Business Goals
Today, I’m thrilled to share with you my thought process for setting smart business goals.
It all begins with a clear financial objective, one that holds personal significance beyond just a dollar figure.
For instance, let’s say I aspire to buy a new car with a monthly payment of $400.
To ensure I’m fully prepared, I’ll set my goal at $600 monthly to account for taxes and unexpected expenses.
Once I consistently reach this income level, it’s time to order that shiny new car!
Once my financial goal is in place, I look into different strategies to achieve it.
One option is to find more customers for my existing products.
Suppose I have a $10 eBook; I’d need to make an extra 60 sales per month to reach my $600 goal.
To work backward, I calculate that I’d need 600 new subscribers, which, in turn, requires 4000 new visitors to my site.
Armed with this plan, I create a daily to-do list packed with actionable steps to increase my monthly traffic by 4,000 visitors.
But that’s not my only path.
I could also create new information products or eBooks each month and sell them to both my existing and new subscribers.
By offering a higher-priced item, I’d need to make far fewer monthly sales to meet my $600 target.
For instance, a well-crafted $100 product would require just 6 sales per month to cover the car payment.
As the car payment will be a recurring expense, it’s wise to explore options for recurring payments.
This could involve my own membership program or promoting affiliate offers with recurring commissions.
I might create content around content marketing and promote a membership, which offers a $67 per month subscription with a 50% commission.
With 20 members signed up, my car payment is covered, and any new members will further contribute to my income.
Now, I have a concrete goal: convince 20 people to sign up for the membership.
My daily tasks include crafting content that features the membership offer and creating a short report about using it to build targeted sub-lists.
By driving traffic to the content and opt-in offer and maintaining regular communication about the membership, I’ll create a strong and evergreen funnel.
And that’s just the beginning. I can also explore collaborations, such as guest blog posts or interviews with others, all of which will promote the membership.
With determination and effort, it won’t take long to reach my goal of 20 signups and cover my new car payment. In fact, I’m confident I’ll surpass that goal, allowing me to grow my business and achieve even greater heights month after month.
I’m excited to embark on this journey and with a new car on the horizon, I’m motivated to make it happen and surpass my $600 monthly goal.
Let’s make our dreams a reality and keep pushing for growth!
Vera JM Friesen – Online Business Planning To Rock Your Year
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