How To Achieve The Profits That You Always Wanted In Your Business
Today, I want to share with you on how to achieve the Profit that you always wanted in your business. If you are ready, prepare a piece of paper and start writing. 1) First of all, you need a VISION of how much you want to earn per month or per year. 2) Then compute this formula: Amount X 3 = Your Actual Target Amount (Example: if you are aiming for $1000 per month, your actual target amount should be $1000 X 3 = $3000) It is always better to set an amount bigger than what you have planned initially based on 2 simple reasons. Reason #1 - You will aim higher and achieve more 3) Once you have your final figure, identify your Existing Profit Stream. (This is assuming that you own an existing business) Example: Existing Profit Stream #1 - $500, Existing Profit Stream #2 - $500. In this example, your existing profit stream is $500 + $500 = $1000. At the same time, it means that you need to earn an additional $3000 - $1000 = $2000 in order to reach your actual target amount. 4) Sit down and think. Can the additional $2000 come if you a) do more of what you are currently doing (example: increase the frequency of your mailing to your list) or.... b) do better at what you are doing now? (Example: increase quality of graphic designing service for higher premium) 5) After thinking through at point 4, suppose you can earn an addition $400 from there; it means that you need another $2000 - $400= $1600 to achieve your actual target amount. 6) Identify a few new profit streams to earn the remaining $1600. Try new ideas, new business ventures or ways that you have never tried before due to fear. 7) Lastly, take Massive Action and you will be on your way to achieving your actual target amount. Once you have tried the new profit stream and you are making the maximum amount of money from it, classified your 'new profit stream' as your 'existing profit stream'. Repeat step 1 to step 8 and your income will explode progressively. |
