So, you have a great business idea, you’re very passionate about what you do, and you’re working your tail off to make this dream of being a successful entrepreneur a reality. There is only ONE slight problem: you’re not making any money. Yikes!
Although money may not be the only driving force behind starting your own business, let’s be honest, it’s an important one. After all, you need money to pay your bills, support your family, and to create the lifestyle that you desire…and deserve!
So how do you get on track to reaching your business’ income goals?
I’ve outline the 5 step action plan for you below:
Determine how much money you would like to make monthly
Set a specific, and realistic dollar amount. How much can you truly expect to make in a given month. How much do you need to earn to live the type of lifestyle that you truly desire? What do you need the money for: bills, savings, supporting family, vacations, etc. Factor all of those things in when determining your ideal monthly income.
Create a detailed and specific plan on how you will reach this goal.
Start by asking yourself these very important questions:
- How many days/hours per week do you want to work?
- How many clients do you want to work with each week?
- What is the average fee you need to charge to reach your income target? (Really break these down, especially if you offer multiple services/products)
- Who is your target market/ideal client and how will you consistently place yourself in front of them?
Put it all on paper
Write the answers to all of the questions down on a sheet of paper.
Example (let’s say you are a business coach): I want to coach 25 individuals at an average fee of $350 per month, so I gross $8750 per month. My ideal client is a creative service-based entrepreneur who earn more than $60k per year.
Place your written statement somewhere that you will see it constantly
Read it aloud twice daily…first thing when you wake up in the morning and again just before you go to bed. Constantly filling your mind with the things that you want, and actually “hearing” these desires, will keep you focused and dedicated to reaching your goal.
Make it happen
One of my favorite quotes is from the book, Think and Grow Rich by Napoleon Hill. It says “Wishing will not bring riches. But desiring riches with a state of mind that becomes an obsession, then planning definite ways and means to acquire riches, and backing those plans with persistence which does not recognize failure, will bring riches.” This means, once you decide how much you want to make, you will have to become almost obsessed in your mission to get it, make a solid plan to get it, and do not let failure be an option. There is a difference between wishing for something and being open and ready to receive it. You cannot be ready to reach your income goals until you believe without a shadow of a doubt that it is possible for you to reach those goals.
What steps are you currently taking to consistently meet your business’ income goals? If you’re not reaching those goals, what do you think is holding you back? Leave a comment below.
To Your Prosperity and Success,
Business Success Coach | Marketing Strategist | Motivational Speaker
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