Setting income and sales goals as a new entrepreneur can be a confusing and arbitrary process. It’s easy to get stuck, feel like you aren’t doing it right or decide there’s no point and that maybe it’s just a waste of precious time.
How exactly are you supposed to set goals for something that is so new?
Does it really matter…aren’t any and all sales a good thing when you’re starting out?
Can’t you just pick a number that sounds good and go from there?
Why do you even need sales and income goals when you’re first starting out?
Keep reading for my 4 phases of income and sales goal setting plus a resource to help you overcome your resistance to business finances and set up a foolproof system to creating abundance on your own terms in your business in my NEW Your Abundant Brand’s Money Workshop!
First things first…..
Tackling your income and sales goals as well as your business finances doesn’t have to be a boring, tedious process.
It’s one of the most exciting things I get to do in my business! (aside from watching my clients light up when they reach THEIR goals)
Now, there’s no perfect way to set your goals but I believe there is a smart way…..
When you are setting your income goals the smart way you feel more free, productive and focused and it allows you to make confident decisions inside your business.
Plus creating smart sales and income goals is the equivalent to setting goals for the number of people you will impact with your business…..and that feels pretty darn awesome and motivating.
Why do you need income goals?
They are the foundation of your vision and your intention. When you have strategic goals (instead of ones that just sound good) you’ll truly understand the purpose of your goals and you’ll be able to create a clear, actionable, realistic plan to get you there.
Setting arbitrary goals is similar to driving in the fog, you can kind of see where you are going and hopefully you’ll get there, but knowing where you are and where you are headed with your business income is like finally seeing clearly and flying down the road ahead to destination abundance.
So….how do you set income and sales goals as a new entrepreneur?
I have broken it down into 4 main phases below:
#1 You must know where you are. It’s important to assess your current average expenses and income (both personal and business as this is so intertwined when starting a business) so you can know exactly where you are and can base projections and goals from this foundation.
#2 Know where you want to go, ie. how much you want to make. (this is what I call your abundant state). But in order to do that you have to figure out where ALL the income is going to be allocated specifically. This becomes your clear, big picture goal. In my new Your Abundant Brand’s Money Workshop we go in depth on this and you’ll calculate your exact abundant state number plus build out projections on reaching it!
#3 Base your sales goals on bridging the gap between where you are and where you want to go. It’s important to set specific and targeted sales goals based on the profit number you get in phase 2. Understanding where you are and where you want to go will allow you to answer “What do I sell, how much is it and how many of what will I need to sell to reach my desired income?”
#4 Track and adjust as you go. It’s totally normal to not hit everything exactly as planned. That’s why it’s so important to track your progress and adjust your goals accordingly. Find out if the actions you are taking are supporting your goals and monitor if you are on track. This is not a one and done process but once you’ve gone through it once and have a system in place it only takes a few minutes to track, adjust and get clear on how to keep moving forward.
I went through this process right before I launched my current business and for the first time I was able to make crystal clear income goals that I felt genuinely connected to and could finally gauge how to get there.
From there everything seemed to click into place. I knew where I was headed and I knew why I wanted to get there which gave me clarity on where I needed to start plus it motivated me to keep going.
Since I first implemented this process, I’ve taught it to others and refined it into a streamlined system that I put together in my new Your Abundant Brand’s Money Workshop.
And if you're interested in learning how I set my income and sales goals, getting some help setting your own goals and accomplishing them, then you would love this new money workshop.
I've created a sales and income goal setting course for newbie entrepreneurs that's going to walk you through my exact system for how to assess your current financials, how you figure out your “abundant state”, how to set sales goals based on bridging the gap between where you are and where you want to be, and how you can accomplish and achieve these goals in the timeline you want to.
I'm so excited for this to finally be live. This workshop just came out of beta and everyone loved it! Annnnddd…..only this inaugural round will have a LIVE component!! (You will also have lifetime access to all the recordings so you can go at your own pace on your own time) It's super digestible plus it comes with simple plug and play spreadsheets to create quick and easy income and sales goals.
I made sure to make it in a way where it wasn't really complicated, or too long, or too heavy, and instead quick and actionable and effective. (and affordable!) I think you’ll love it! Go check out the details here!
Do you have a system in place for your income and sales goals? Tell us about it in the comments below!