I am hopeful you’ve recognized the value in brainstorming and coming up with a “no holds barred” version of what you want to accomplish on the Internet. Over the years we all become conditioned to settle on our goals due to the obstacles which appear in our path. After numerous failures and rough spots we begin to arrive at the point where we think, “If I could just make enough to get by I’d be happy.” Arriving at this point isn’t a bad thing as long as you don’t reside there for long. You would never tell your kids to make sure their expectations and hopes aren’t too high, so why should you think that way about your future? Why shouldn’t you be allowed to accomplish everything you dream of? The only way you won’t is if YOU stop yourself from doing it.
Ok, ok let me get down from my soapbox for a minute. 🙂 Now that you’ve taken the time and written down what it is you’d like to accomplish, it’s time to begin to take action towards the accomplishment of this goal.
The next step is to determine what it is going to take to make this goal a reality. There are a few different ingredients which will be necessary to make this goal a reality and all of these will be crucial for you to possess the proper mindset to maximize your online revenue.
Alright, in this “microwave world” everyone wants everything immediately and without much effort. If you happen to be searching through Google to find the latest, greatest GET RICH QUICK scheme…you’ve come to the wrong place. Success is arrived at by paying a price and there is no true way to avoid paying the price. The Internet certainly presents an opportunity to arrive at success much quicker than any other medium in existence, but it still takes time.
I will assume you followed the instructions of PART ONE thoroughly and your goal is fairly lofty. If that is the case let’s approach PART TWO accordingly. I want you to plan on investing the next one year towards accomplishing this goal. I am not saying you’ll need to invest every waking hour of the next year into the accomplishment of this goal. I am simply saying you will need to commit to taking steady actions over the course of the next twelve months towards the attainment of this goal. You may find yourself doubting whether it will happen or not (especially in the beginning), but I believe if you do these first two steps properly, and truly develop the proper mindset, you WILL MAKE IT! This simple process is absolutely 100% tried and true and has helped thousands of people succeed on the web. The only way you won’t join the ranks of the thousands of successful companies, is if you give up.
Now that you’ve committed to work toward attaining this goal for a minimum of ONE FULL YEAR, let’s look at what it is going to take. This is simply a math equation and once you complete it, you’ll have the basic foundation set and you can begin to take steps towards making it a reality. Let’s, for the purpose of this post, choose a goal of generating an additional $500,000 of revenue through the website. I am sure for some of you, this isn’t a very lofty goal and for others this may seem like an overly aggressive goal. If you are thinking this is “overly aggressive,” please go back to PART ONE and start over. 🙂 Remember you are supposed to suspend disbelief and determine what you truly want, not what you think is realistic.
Ok, back to ingredient two. Now that we’ve determined the goal to be $500,000 of additional revenue let’s break that down based on incremental goals.
Monthly Goal – $41,666
Weekly Goal – $9,615.38
Daily Goal – $1,369.86
Hourly Goal – $57.07
I am sure now that you’ve broken those numbers down they don’t look nearly intimidating as the initial number of $500,000. Better yet, you get to use every day of the year to establish these numbers. Unlike your normal business, the Internet not only doesn’t take a day off, it doesn’t take a minute off. It is easy to take the stance of, “come on now…hourly income goals? That seems a bit silly.” REMEMBER: This is a process and right now we are only on the planning phase where we are getting in the correct frame of mind. Not only that, we haven’t even completely determined how we are going to use the Internet to generate this revenue.
Alright. Now that we’ve decided what our goal is and broken it down to very manageable, measurable goals based on the next twelve months, let’s look at how your current product offerings come into play. The best way to do this is to figure out how much annual revenue each of your clients is worth. This is a simple math equation and can be figured out by using the following formula.
Total company revenue in past 12 months (divided by) Total clients billed in same time period (equals) average client value
This formula needs to be based on total sales and not simply what you’ve done on the Internet. It doesn’t matter if you don’t even have a website, this information needs to be established. Let’s say, for example, you generated $500,000 within the past twelve months and you billed a total of 120 clients over that time period.
$500,000 / 120 = $4,166 average annual client revenue
I am sure you’ll find some clients that generate close to zero revenue and others that account for a large portion of your total revenue. The 80 / 20 rule always applies. The important thing is to figure out how many clients it will take to hit your goal. Once you’ve determined this number you can break it down in the same way we did for the the revenue.
Monthly goal – 10 customers
Weekly goal – 2.3 customers
You’ll see we didn’t go as far as we did with the revenue, but I am sure it looks very manageable! Remember this, we’ve done this exercise based only on your CURRENT company product offerings! As we work through this process we’ll soon uncover some additional revenue generators which you may have never thought of.
First things first though….
YOU NEED TO HAVE THE PROPER MINDSET or you’ll never make it anywhere. If you’ve done these steps for your own company and now feel as though you are ready for the next step…let’s go. If you are feeling even one bit of “doubt,” go back to PART ONE and start over. I cannot put enough emphasis on how important it is to begin in the right spot mentally to avoid many frustrations and the temptation to quit.