Setting financial goals for your business is so important.
Let’s be realistic – you aren’t going to go from a small business to a multi-million-pound business overnight. What you want to see is growth – however small – month on month and year on year. So let’s set some financial goals for this month.
How much do you need?
First, decide on a non-negotiable amount you need to make. By non-negotiable, I mean if you do not make this then your business will have to close. Allocate the money for that goal – are there specific services or subscription that help you run your business that you have to pay for? Is there certain new on trend stock you need to buy? You need to cover your costs as you do not want to be running at a loss.
Now, bring that figure to life by writing down where that money is going to come from. Set goals that EXCITE you. So say you have a new product that costs £25 and your non-negotiable goal is £200. You have to sell 8 of the new product. Or is it going to come from 4 of your new product (takes a while to gain traction and become a customer favourite) and 6 of your existing product?
Then, decide how you are going to achieve these sales. Set up an action list. It may look something like this:
-Tweak the sales page on website to the chosen feature product
-change the banner photo on Facebook to the chosen feature product
-set up an event showcasing the product
-optimise Facebook ads (or start them!)
-post in groups every second day
Write them down!
Once you have defined your goals and action points, write them down and put it somewhere where you will see it every day. The sales goals should have space to write either the date or the name of the sale achieved.
- 1st new product – Joe Bloggs
- 2nd new product – Sarah Smith
- 3rd new product –
- 1st existing product – Samuel Jones
- 2nd existing product –
Seeing the goals and the sales as they happen will keep you motivated throughout the month as you see it fill up.
Say it out loud!
Lastly, the more often you say them, the more your goals become real. If you post it publicly, you are holding yourself accountable! So comment below on your goals for the month!
If you need any help defining your goals, please do not hesitate to contact me!
Love, Belinda xxx