How To Hit Your Desired Revenue Goals using the Business & Financial Growth Planner
“If you fail to plan, you plan to fail”
This is true about every aspect of life including your business.
In order to be successful in business, you need to have a GOAL for your business.
The best way to achieve the goals you have for our business is to be extremely clear on what those goals are.
You probably know all about SMART goals and have them for our business. Having goals for your business isn’t the problem.
(Related post: 5 Things Every Business Owner Must Know About Their Business)
Here’s the problem: You know what you want your business to achieve, written out or at the very least, in your head but with the day to day grind and challenges that come with doing what it is that you do, those goals remain in your notepad or in your head and only come out when you are looking to set next years’ goal.
And what do you find out?
Most times, you find that you have grossly fallen short of the goals you set and you have no idea what happened or when you got off track.
This is something I am all too familiar with.
I would set goals for the company, right it out in a document and approach the year with so much enthusiasm about what I was going to accomplish. Then, at the end of the year, I would be sorely disappointed because it seemed I always fell short of my goals.
This was a problem.
What I realized after much thought is that I was the problem.
Although I did set goals for the business, I never translated my big picture goals into monthly, weekly and daily tasks that I could track.
I never let it guide my activities for the year so that I could strategically plan and track my growth no matter what day of the year.
That’s when I created the Business & Financial Goal Planner.
This is a simple document that I use to capture the BIG goals for my business and see what I needed to be doing monthly to hit these goals.
Benefits of the Business & Financial Goal Planner
- It helps you get clear on what you want to achieve in your business for that year
- It helps you gauge how on-track you are with your goals at any time during the ear.
- If there’s a problem, it helps you know when and where you need to tweak your strategy so that you can get back on track to meeting your goals.
- It helps you create your marketing calendar and guide the activities for the whole year.
Download the Business & Financial Goal Planner
How to use the Business & Financial Goal Planner
Step 1: What’s your Desired Annual Revenue?
What is your financial goal for the year?
Step 2: What’s your Desired Monthly Revenue?
To get this, simply divide your DAR (Desired Annual Revenue) by 12 months. [DAR/12}
Step 3: List out all the products/services
Make a list of the products and services that would contribute to your DAR.
Note: If you sell a wide range of products and services, you could group the products into categories.
Step 4: How many products/services (units) do you need to sell to reach your DAR?
Step 5: Insert these figures into the Monthly Planner.
That is it.
With this exercise done, you are clear on:
- what you want to achieve
- the products and services you need to sell to achieve it
- what you need to sell each month to make sure you hit those goals
- how to evaluate and adjust activities month after month to ensure you stay on track.
I have made the exact planner we use here at the iVEN Team available for download. It’s editable so all you need to do is download and fill it in.
Get it here.