Do you avoid looking at your business numbers? Do they scare or depress you? It's normal if they do, but consider this for a second...
Sit back and imagine the life you want to live. It should be easy to do, it's that vision that made you become an entrepreneur in the first place.
Are you living that life yet? What would it take to have that life? Would 3x your revenue be enough?
Let's say 300% growth this year will do the trick Follow along with this math for a second I promise it will help you love your business numbers a little more.
Now, before all the accountants chime in, yes there are many variable factors to be considered in a profit plan, but for now we're going to start with this easy math so everyone can silence their inner critic, see that achieving huge growth is not as overwhelming as it might seem, and step confidently forward toward achieving their dream life.
Let's say you made $50,000 in revenue last year, your average month was around $4167. This year you want to hit $150,000 which would be an average monthly revenue of $12,500. Right?
So if $12,500 is an average monthly revenue we can assume that 6 months come in less and 6 months ring in more than that amount. Right?
So if you are already comfortably bringing in $4167 all you have to do is implement a growth plan to add your IMPACT NUMBER to last months revenue, then sustain that growth next month and add the impact number again, etc.
IMPACT NUMBER = ($12,500 - $4,167)/6 = $1,389
Month 1 ($4,167 + $1,389) $5,556 Month 2 ($5,556 + $1,389) $6,945 Month 3 $8,334 Month 4 $9,723 You get the idea... Month 12 $20,833
By the end of the year you'll have reached $158,333 in revenue
Wrapping your head around an increase of less than $1,400 per month is way easier than making a jump of $8,333 all at once, right?
So if a big number is scary, break it down until you get to a number you can handle.
Master your numbers.
Own your goals.
AND GET OUT OF YOUR OWN WAY.