Setting REALISTIC Goals

I attend a lot of online sites and forums a lot. I can’t help but chuckle at some of the posts I read by people who are just starting out and their goal is something like “My Goal For The Month - $1 million.” Now, please don’t get me wrong. I am all for setting goals and it’s great to think big, but if you’re first starting out your chances of making $1 million in your first month are about as great as me winning first prize in Lotto .

When you are starting out ou need to set realistic goals for two reasons. The first reason is that you are going to be more likely to reach it. The second reason, and this is the more important one, by setting realistic goals, you prevent yourself the letdown that you will no doubt experience from setting a goal that you simply cannot achieve.

So many people give up because they expect to make so much money at the start and when it doesn’t happen they get discouraged and throw in the towel. As a matter of fact, this kind of discouragement is the main reason why people give up on their businesses.

Okay, saying to create realistic goals is one thing, but how do you do it? If you are brand new you probably don’t have any idea what a realistic goal is. Well, there are no hard and fast rules, but what follows are some guidelines that I use for myself. They may be helpful to you as well.

The first thing I do is look to see what it is I am selling. How much am I selling it for? Remember, 100 sales of a $10 product does not bring in the same income as 50 sales of a $50 product. So you have to take a look at the product or service you’re offering, come up with a realistic number of sales you can expect to make in your first month and then take it from there.

That brings us to the next problem. How do we decide what a reasonable number of sales are? There are way too many factors involved in this process to go into all of them. But the most important is conversion. Out of every 100 people who see your productor service, how many actually buy? If you have a great product or service with a great conversion then you don’t have to reach as many people to make a decent number of sales. However, if your conversion is something like a half a percent, then you are going to need to reach a lot of people to make a decent number of sales.

To find this out, you simply have to test. Track your efforts and see how much of your effort turns into sales.

Once you figure out work this out you can then figure out how many people you have to reach to make a certain amount of money. So if you want to make, say $1,000 your first month and then $2,000 your second month, then you have to reach twice as many people in month two than you reached in month one. Can you do it?

The point is, by setting realistic progressive goals, you are more likely to meet them as each month passes.

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This entry was posted on Thursday, May 29th, 2008 at 7:01 am and is filed under Personal Development, Self Help, Self Improvement. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.