SDH 431: How To Set One Yearly Goal As A New Entrepreneur with Amanda Boleyn

Hi friend! I can’t believe this is the final episode of 2020. We did it! 

Next month on the podcast I’m going to be talking about goals from my 5 step process, your goal support system, and more, but today I want to unpack how to set goals as a new entrepreneur.

Let’s say you’re someone who is planning on starting your business in the next year, or maybe you’re embarking on your second year in business, setting a goal that feels good and inspires you can be tricky because you don’t have as much data to work off of. It is much easier to work off of experience and results than setting a goal for the first time in business.

The further along you are in business, the easier it becomes to set goals and have more clarity because you have more years of results under your belt to assess and therefore more clarity on setting goals for yourself and your business in the next year. 

First, decide what you want the outcome, or result, to be at the end of next year. Do you want to go full-time in your business, do you want to fully replace your income, do you want to start your business and make 50% of your income? If you want to go full-time then you’ll have to answer the question of, “How much do I need to make in order to go full-time?”.

This will help you be purposeful in setting your revenue goal rather than being tempted to pick something, simply to pick it. If we pick an arbitrary goal, our brain won’t be able to connect with it.

Start with understanding your personal finances. How much do you need to make every month in order to support yourself and continue living the way you want to live? Maybe you decide you’re willing to cut some things out of your budget in order to live more simply so that you can quit your job or go full-time sooner. 

Achieving your revenue goal is all about doing the math, and numbers supporting the systems that allow you to take action to produce the results you want. 

I’m so excited for what is ahead in 2021. I can’t wait to talk to you in the new year. 

 

Insights:

“If your goal in the new year is to quit your Corporate job, then your goal must allow you to do that.”

“If your goal is to start your business and generate 50% of your Corporate income, then your goal must reflect that.“

“If we pick an arbitrary goal, our brain won’t be able to connect with it.”

“Achieving your revenue goal is all about doing the math, and numbers supporting the systems that allow you to take action to produce the results you want."