Achieving Your Financial Goal

Being in business means making money, making a profit, because as I say to all my clients, if you are not making money, then you just have a hobby.

So having ascertained that you are in business, then part of the business plan, and a big part of the business plan, is to set at least one money goal. Great! So now you have a goal. And so the next step is to work out how you are going to reach that goal and that’s what I’ve set out for you in this week’s article, a very quick and simple exercise that will let you know the facts.

I am a great believer in the law of attraction and I understand following the law we don’t need to know the hows, we just need to know what it is we want. Having said that, we do have to take action too, we can’t just send out the intention and wait for the money to land on our doorstep. We have to do our part too, and that means making a plan and taking some action.

So actually working out what we need on a practical level, helps enormously in the fact that you can then put in your very specific order to the Universe. I have found this exercise to be a huge eye opener both to my clients who have had large monetary goals and to those who have had smaller ones. With some it has helped them realise how easy it is going to be for them to achieve what they want, and for others it has helped them see how they will have to change either their rates or their packages to achieve their goals.

Either way, it is imperative that you know the facts, so I encourage you to do the exercise too.

First of all write down your 6 month financial goal, eg 30,000

Divide that by 6 to see what you need to bring in every month, eg 5000

So divide that by 4 to see what you need to bring in every week eg, 1250

And then divide that by the amount of days per week you want to work eg 5 = 250

Now what is your rate (hourly or per unit) and divide by that eg 50 = 5

So you need 5 sessions/units per day to reach your goal.

How many do you have now eg. 3

Number sessions you need to book eg 2

How many conversations before someone buys, 1/10, 2/10, 3/10 5/10 etc = conversion rate eg 1/10 = 10%

No. of sessions need to book = 2

No. of conversations need to have to make daily number = 20

So that means you need to have 20 conversations to bring on board 2 people for your sessions/products. Now that puts thing in perspective, I have used a very doable calculation there, but say someone had a goal of 100,000 and they only charged 20/hour, they would have to be seeing 41 people per day, which is just not possible.
So either their rate would have to go up, or their goal come down.

So take the action. First of all set your monetary goal, if you haven’t already done that.
Second do the exercise. And thirdly, now you know the facts, design a plan of action that will get you there!