Today I want to share my thinking process for setting smart business goals with you. I like to work
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 I want to take a Disney Cruise this summer. The cost
Once I know how much money I have to make, I can start to think about different ways to do just that. I could find more customers for one or several of my existing products. For example, if I have a $10 eBook, I would have to make an extra 80 sales per month.
From there I can work backward. If I know that on average one out of 10 email subscribers buy the book within the first month of signing up, I need to add 800 new subscribers to my list, which in turn takes 6,000 new visitors to my site. If that’s 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 6,000 people per month.
Of course that’s 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 create a higher priced item so I need to make a lot fewer monthly sales to reach my $800 goal. For example, if I create a nice $100 product, it would only take 8 sales per month to pay for the cruise.
Additionally, I know that my sponsored post rate on Serendipity and Spice starts at $800. So, I could line up one extra sponsored post a month to pay for my goal.
Now I have a concrete goal to work towards which is adding one new sponsored post to my site each month. My daily tasks will include things like identifying companies I want to work with, reaching out to those companies, creating content similar to the content I want to create for them, etc.
In fact, chances are great that I’ll overshoot the goal by several hundred dollars and it’s something I can continue to grow month after month.