With only 41 days left in this year, now is the perfect time to plan your income goals for 2014 so you can enjoy the holidays and cross the threshold into the New Year with a confident plan of action.
For those of you who find looking at your numbers similar to running nails down a chalkboard, you may find some resistance to this process, however I can guarantee this is time well spent and a bigger income can be yours if you follow this simple, easy process. This will take the guesswork out of how to achieve a big, bold income leap next year.
Grab a piece of paper, a pencil and a calculator (or your smart phone) and take yourself through the three steps below:
Step 1: Determine your current income stream – List all your services and products you currently offer to your clients. Look back over this year and calculate how many of each service or product you sold to clients or customers. Next, write down the price or investment on each product or service that you offer. Once you know how many products and services were sold and at what price point, you can calculate what your income was so far this year. If you have a bookkeeper or use a bookkeeping software (highly recommended), this step can be done in a matter of minutes.
Step 2: Determine your desired income stream for 2014 – Take a look at your current income. Are you satisfied with that number? Would you like to increase your income for 2014? Decide what you'd like your income to be in 2014 and write that number down. Now, subtract your current income in step one from your desired income goal in step two.
Step 3: Close the Gap – Now that you have done steps one and two, you have the “gap” number or the difference between your current income and your desired income. Your goal is to simply close the gap. For example, let's say your current income stream is $100,000 and you would like to increase it in 2014 to $150,000. 00. The “gap” is $50,000.00. Now comes the fun and creative part. We entrepreneurs don't love the numbers – we love to create, right? Now is the time to think about what new services or products you can offer in 2014 that will close the “gap” for you and make your desired income a reality.
Give some thought to new, fresh ideas that will be fun for you to create and implement. Choose the ideas you know your clients and customers need and want. Feeling a little stumped? Consider doing a survey to your list and/or call on current clients. Ask their opinion about what they would like to see you offer next. Research the market online to find trends that are happening in your industry. The key is to avoid making decisions in a vacuum. This is a critical time to reach out and talk to positive, successful people about what's next for you in your business.
I invite you to do this exercise now so you can enjoy your holidays with ease and stride confidently into 2014 with a plan of action.
Anything is possible. Everything is waiting for you.
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© 2013 Joy Chudacoff
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