Let’s talk about goal setting. Last month on Instagram, I asked my audience if they had already set goals for March. 85% of my audience said no. I also asked them if they knew how to meet their goals once they did set them effectively. 63% said no to that question. What about you? Have you set your goals? If not, keep reading. This is especially for you!
So, why is goal setting necessary?
The truth is, business is all about increasing and improving over time. If you are not setting goals for yourself, It is nearly impossible to track your business growth. The first time I set goals for myself was January 2020… yes, last year! Up until then, each month was a gamble. I wasn’t keeping track of how well (or how poorly) I was doing, which gave me no room to improve. I was really shooting in the dark each month. Does that sound familiar to you?
Some days I made money, and some days I didn't. I got excited when money came in and was disappointed when it didn't.
I don't know about you, but that is no way to run a business.
January 2020, I set my first business goal to make $8000. I had just experienced my first successful Holiday season, where I had my first 5 figure month. I told myself that if I could make $10,000 a month when most of my products were on sale, I could surely make $8000 with the products and services I was already offering. I didn't just pull a random number out of thin air. I knew what I was capable of doing based on looking at my previous month.
How to set (and reach) measurable goals.
The first step is to start tracking your income. If you are not already tracking how much money you make each month, I recommend making a QuickBooks account! With this tool, you can connect your bank account, and it will track the income coming in and the money going out.
So, my January goal was to make $8000 from my multiple streams of income (YouTube ads, clothing line, and coaching). But it didn’t stop there. How was I going to meet that goal?
The money doesn't magically come into my bank account. I have to plan a direct way to make that money. Once I set my overall goal of $8000, I created a lesser goal for every individual week in January. I determined how much income I needed to bring in each week to hit my monthly goal confidently.
Lastly, after I set the dollar amount I needed to make each week, I then determined the actions I would take each day to meet that weekly income goal. A goal without action is just a dream!
That is the method that I use to plan my month:
1. Monthly Goal
2. Weekly Goal
3. Daily Actions
So, here's what a sample plan looked like for me in January 2020:
January Goal: $8000
Week 1: $1600
Have a sale on old inventory & create two emails for my clothing line
Upload one YouTube video
Create a new masterclass or ebook and start a pre-sale to my coaching email list.
Week 2: $1900
Release new inventory (new inventory allows for a slightly higher weekly goal than week one)
Send an email to my email list, send a text to my text list, and post on social media every day to sell specific pieces.
Create Ads for clothing line