{ Worksheet #7 Financial Goal Breakdown }
When I first had agents in my office in 2009, they came fresh and ready to pop in and out of beautiful houses in their suits. But there was one BIG brainstorming session necessary that I had learned from experience, could be the one major determining factor in them selling enough houses to give them a successful business or not selling enough.
We needed to know how much money they wanted, needed and what that translated to on a yearly basis.
But you can’t just look at a BIG number and say, in 2016, I want to make $200,000. I mean, that’s cool, but you will continuously get stuck on how, what that looks like to your business on a daily basis and what you should be aiming for
I mean, what do I need to sell if I wish to go home for the day? Am I hitting my numbers? Do I need to improve my times at bat? Do I need to perfect my shot?
The only way to know, is to know what you’re aiming for and as a business person, you should ALWAYS know your numbers.
A million dollars is a million dollars but your time and the strategy you deploy is the MAJOR factor on how you will get to it.
So, what do you want to make, money wise in the next 12 months.
Don’t be shy, you’re alone, and no one is judging you and I know that was scary.
Write this number down, then read through this example and watch that BIG scary number reduce into doable & achievable baby bites.
Take a goal like, wanting to make $200,000 for 2016, let’s break it down. This exercise will work for ANY number you decide, just read this example to understand the concept.
Goal: $200,000 for 2016
Broken down:
Quarterly : $200,000/4 Quarters = $50,000 Per Quarter
Monthly : $200,000/12 Months = $16,666.67 a Month or rounded $16,700
Weekly : $200,000/52 Weeks = $3846.15 a Week
Daily: ( Working on your business 5 days a week) $3846.15/ 5 Days = $769.23 Per Work Day
So, that HUGE number of $200,000 per year is basically broken down into selling a few courses and books a day, or getting 4 or 5 speaking engagements a month, or hosting 2-3 webinars and live workshops a month, or a combination of them all plus more. We can go deeper, and I usually take my clients into the obsession of knowing your client conversions, meetings, pitches, and proposal strategies. But, the point here, is that once you understand how to break down your money goal in your mind so that you can EASILY know what you need to do, sell, create and market to reach your financial goal.
Action Plan
- Complete your Financial Goal Break Down Worksheet
- Determine your financial goal for the next 12 months. Don’t be shy or play small ball here. Put it out there.
- Break down your financial goal by quarter, month, week and day
- Plan your business products and projects accordingly
