Today I want to share my thinking process for setting smart business goals with you. I like to work backwards from a financial goal to daily to-do lists. Here’s how that works. It always starts with a money goal. It helps if that goal has a meaning beyond the dollar figure. For example, let’s say that I want to buy a new car. The payment is around $400. To account for things like taxes and just to be safe, I’ll bump the goal up to $600. In other words, I need to add an extra $600 (or more… more is always better) to my monthly bottom line. Once that’s done and I am seeing that level of income on a regular basis, I’m ready to buy my new car.
Once I know how much money I have to make, I can start to think about different ways to do just that. I could find more customers for one or several of my existing products. For example, if I have a $10 eBook, I would have to make an extra 60 sales per month. From there I can work backwards. If I know that on average one out of 10 email subscribers will buy the book within the first month of signing up, I need to add 600 new subscribers to my list, which in turn takes 4,000 new visitors to my site. If that’s my plan, I know that my daily to-do list needs to include plenty of action steps to ramp up my traffic by an extra 4,000 people per month.
Of course that’s not my only option. I could also create another information product or eBook each month and sell it to both my existing and new subscribers… I could also create a higher priced item so I need to make a lot fewer monthly sales to reach my $600 goal. For example, if I create a nice $100 product, it would only take 6 sales per month to pay for the car.
Since the car payment will be an ongoing thing, it also makes sense to look into recurring payments. This could be my own membership, or I could look into affiliate offers with recurring commissions. Depending on your market, there’s a lot out there that you can promote.
I always start by looking at the products and services that I use the most – and then see if they have an affiliate program I can join! I have a page on my website where I list all the products/services I use – many of those are affiliate offers! I could create content around one or more of those products and promote those affiliate offers. Once I figure out how much I will make from each affiliate pay out – I can calculate those payouts as well! And the great thing about affiliate offers for memberships is that it's recurring, so once you hit your initial goal, you'll only need to add the occasional new member to balance off cancelations! Getting one or two more members in each month going forward should more than cover that.
Once I have a concrete goal to work towards, my daily tasks will include things like creating content that includes links to the offer. Then I will start driving traffic to the content and the opt-in offer and start mailing regularly about the offer. I may even craft a short autoresponder sequence to create an evergreen funnel!
Of course that’s just the tip of the iceberg. By thinking outside the box and putting in some time and effort initially, it won’t take me long to meet my goals and pay for my new car payment… I could interview an expert for my podcast, go live in my Facebook group to promote the offer, etc. Because I really want that new car, I’m going to be motivated to get it done and grow my business by those extra $600 per month. In fact, chances are great that I’ll overshoot the goal by several hundred dollars and it’s something I can continue to grow month after month.
Since your daily tasks will most likely include some element of lead generation, or driving traffic to your website, you'll want to consider Facebook ads… they're a GREAT way to drive highly-targeted traffic and generate leads who are ready to convert. But don't run ANY ads before taking this quick and easy quiz to discover what is missing from your Facebook Marketing strategy!
If you're not so happy with your Facebook marketing that you just have to dance… then you need to take this quick quiz to instantly learn what you need to work on right now to master Facebook Marketing for your business!
Meg Brunson has been marketing to moms for nearly a decade. After leaving her corporate job at Facebook in 2017 to be a more present mom to her 4 daughters, she founded EIEIO Marketing; a digital marketing agency focused on Facebook Marketing for family-first businesses.
Through highly targeted, results-driven, Facebook Ads she's delivered results for her clients that include: doubling their lead volume, generating 62% more sales than the in-house team, attaining a 16x return on ad spend, and reducing the cost per lead by 99%!
After helping her daughter launch her first business, Storytime With Kiki, at the age of 10, Meg began hosting the FamilyPreneur Podcast: an interview-style podcast for parent entrepreneurs, raising entrepreneurial children.