Begin by creating a vision for your desired lifestyle in the short term and long term. Define your goals, both financial and non-financial, and attach specific monetary figures to each goal. This will help you determine the income you need to generate through your business to achieve your desired lifestyle.
Evaluate the value of your service and determine how many programs you need to sell each month to reach your income goals. By understanding the average value per product type and the number of sales required, you can estimate the monthly sales needed to support your dream life.
Once you have clarity on your personal financial goals, work backward to determine what your business needs to achieve to support those goals. Analyze the percentage of gross revenue you currently earn from your business and use that as a benchmark. Calculate the revenue your business must generate to reach your desired personal income annually and monthly. Break down your annual financial goal into smaller targets, such as monthly, weekly, and daily, to track your progress effectively.
Building a business that supports your dream life is often easier when you are passionate about what you do. Identify what truly excites and motivates you, as genuine passion will help fuel your efforts and sustain you during challenging times. Align your business idea with your passion, and ensure it resonates with your values and long-term vision.
Develop a solid business plan that outlines the steps required to achieve your goals. While the initial plan may evolve over time, having a clear direction and a north star will guide your actions. Educate yourself by learning from successful entrepreneurs and leverage their experiences to shape your own path. It is also very diligent to hire a business coach to create successful strategies in reaching your potential to have the freedom required for living that dream life!
Copyright © Bruce Parker Coaching 2023