Goal Setting That Works
Yes, we're right now right smack dab in the middle of the holidays, and I will say this week, right now is by far my most favorite time of the year. This is a moment when a big old reset button is allowed with no questions asked. This week is where it all begins, the set-up of changes, upgrades, and newness that comes with a new year.
It's a time to look back and see what worked well, and see what didn't work at all. That's what I always tell my clients and students that business really is; just doing more of what works and less of what doesn't, and repeating. It's really not that hard of a formula.
So this is the week when we decide what's going to be on our agenda for 2016. If you read my post from a few weeks ago, I challenged you to take on something that really scares you. That freaks you out. Something you knew that was going to push the needle, but you have been avoiding it for fear of the unknown, and the fact that you didn't have all of the details filled in yet.
Today, I want to talk about goal setting from a very specific stand point. A lot of people make, what I like to call pie in the sky goals, like I want to make six figures. What exactly does that mean? $100,000 and $999,999 are both six-figure numbers, but very different in value. Some people set goals, but have no concrete way of how the goal is actually going to be met. Like I want to get 10 new customers next month, but there's no marketing plan or map on how they're going to do it.
The only way to truly have success in your goals is to be extremely specific, work your way backwards and create your road map on how you're going to make those exact things happen.
Let's say you want to make $100,000, but you know you haven't yet put the finishing touches on your product, and you're not going to be ready to launch by January 1st. So let's make March 1st, a more realistic goal. You have one product, that you're going to be beta launch on March 1st, refine, get testimonials, and then launch again two more times within the year, and raise the price. You're going to start at $297, work to $497, and eventually launch for $997.
Now we know as you're building that you're not going to have the same amount of customers for each launch. You may not have a huge following right now, but in your plan you know how you're going to build your list, get more excitement for this product, and bring in more people to help you sell it.
Now let's break this down a bit further. Based on the number of subscribers you have now, and excitement you've had for the product, you feel you can sell 10 beta products. That's 10 * $297 = $2,997 dollars. You now have $97,003 to make in your next few launches.
You feel you're going to get great feedback, and will have several people ask to sell the product for you. You decide to raise the price to $497. You feel that with the new marketing you will be doing, along with your affiliates, you can sell some more.
So let's say, your estimate is that you can sell 40 of these programs yourself, and get your affiliates to bring in another 30 people. (You've agreed to pay them 50%).
Now your numbers are --- $497*40 + (($497*30)/2)= $27,335
You now have $69,668 to make in your last launch.
You want to raise the price to $997, and feel really confident because of the testimonials you will bring in, along with the affiliates you will bring on board. Your marketing plan is also to build hype, and in your year, you'll set October as your last month to launch.
Let's say now you feel you can sell 60 yourself, and another 50 units through affiliates.
Now this launches' numbers will be $997*60 + (($997*50)/2) = $84,745
Your grand total for the year will be $115,007.
I'll be honest, I love a cushion, so as I'm launching I can see where I'm at and adjust. This gives you some marketing too, so you can net $100,000 vs. grossing $100,000.
But do you see how much doable that becomes? How much easier it is to break down where the money is going to come from and create a game plan? Instead of saying I'm going to make $100,000 now what, you know where that money is going to come from, how to set-up your year, and how to get to a place where you can achieve this.
Now this is a crazy rough estimate of how you would set-up goals and plans, but it's a start. Yes, you need to track expenses, etc, but this is where you need to begin to setting up your 2016.
Be specific, set your numbers, and work backwards. Make a plan of how you're going to get there. In the example above, if you can covert 2-3% of your list, figure out what it's going to take to get that many on your list each time you launch.
Let's hear it below! Say yours goals out loud. What's the concrete goals you're setting for yourself in 2016?
If you need help with specifics and making 2016 your best year yet, I can help. I actually have two openings for coaching. You can fill out a questionnaire by clicking the link below, and schedule a 15 minute consult with me.
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Make the plan, and then make it happen!!!!