Happy New Year! January always signals a fresh start, so let's take a look at ways to set goals and grow our business. Before planning for the future, be sure to spend some time reflecting on the past. What were the highlights of your previous twelve months? What are the things you want to stop doing? What are some new habits you can start? What great things do you want to conitnue doing?
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Planning
For the past several years, I have taken time to re-read Michael Hyatt's book, Your Best Year Ever. He suggests focusing on three "circles" (being, doing, and relating) that sub-divide into 10 categories: spiritual, intellectual, emotional, vocational, avocational, financial, physical, marital, parental, and social. You can set goals in each of these areas to create a well-balanced life.
Tori always reminds us to set goals that are measureable and achieveable by us. Basically, that means to make sure you have control of the outcome. Rather than set a goal to have 10 students in your next quilt class, focus on your own actions such as sending a newsletter to your email list every week or doing a monthly live video to promote up-coming events.
Know Your Numbers
The ultimate goal of any business is to make a profit. This means that your income is greater than your expenses. Do you know how much money your business made last year? Andi recommends tracking all those money numbers with a spreadsheet from Paper & Spark. Janet is an Etsy seller and an accountant, so she knows the struggles of running an e-commerce shop.
Find the Paypal Seller Spreadsheet here.
When you know your actual sales numbers, it is easier to set a realistic goal for future profits. While it is okay to pick a dream sales target out of thin air, we hope you develop a plan for sustained growth that is realistic and achievable. To help you consider what mix of products and services can get you to your goal, we created the Revenue Tracker. Download your copy and personalize it with your own data. You can find all the information about the Revenue Tracker in this video:
You Can Do It!
We'd love to hear from you! Send us an email or leave a comment with your goals and the action you are taking this week to move closer to that finish line. We're looking forward to Season 2 of the Quilting on the Side podcast with a wide range of guests and business-building tips. Thanks for being with us on the journey.
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