Why Setting an Arbitrary Revenue Goal is Bad for Business
PRE PS We will be walking through EXACTLY this in much more detail on 13 April, in our free private training for established course creators ready to reach the Lifestyle Business Sweet Spot. Apply to get an invitation to our FREE training on 13th April.
❌ Do not do this: Set an arbitrary and likely unrealistic revenue goal for your next 12 months (without any clear idea of WHY you’ve set it), burn yourself out hustling to achieve it and then wonder where it all went wrong.
Here’s what I so often see:
People under $100k a year setting $100k as their revenue goal.
People over $100k setting $1m as their revenue goal.
And 99% of the online business world selling their coaching and programs off the back of being a “6 figure” or “7 figure” business owner (even if it was for a year in 2020).
I’m not a fan of arbitrary revenue goals anymore.
Here’s what I AM a fan of instead:
1️⃣ Getting clear on the EXACT personal profit goal that will fulfil all of your personal, investing and lifestyle needs.
2️⃣ Working out the business profit you need to achieve that (because, you know, taxes).
3️⃣ Reverse engineering into a Profit Optimised Business Model to achieve THAT.
4️⃣ Enjoying the journey and being okay with it taking more than 1 year to get there.
In today's podcast episode, I'm doing a deep dive on why you need to stop chasing an arbitrary revenue goal and start thinking about what would sustain the life you want, drown out the silly unrealistic expectations and get clear on your profit number.
PS Want to build out your digital course business to the “Lifestyle Business Sweet Spot”? Legacy is for experienced course creators who aspire to the Lifestyle Business Sweet Spot (high profit margins , working 5-hour days with lean, remote team). Apply to get an invitation to our FREE training on 13th April.
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Here’s a few ways I can help you:
1. Are you ready to create, launch and scale your flagship digital course in 2023? Head to www.thecoursecartel.com/launchpad to apply for our 12 month, high touch group coaching program.
2. Want to launch your Wildly Successful Podcast in just 6 weeks? Check out our FREE masterclass where we share with you our complete five-step strategy!
3. Want to get paid to generate more leads into your business than you can poke a stick at? You need our $57 Paid to Grow Workshop and Bundle series (we are consistently told that this is the best program our students have ever bought and it’s a steal!)
Full show notes for this episode can be found at:
https://thecoursecartel.com/192
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