Do you know how much it costs you to live?
I do this every year…
I analyse all my personal expenditure for the past year. Everything. I include things like mortgage, rent, energy, telephone, broadband, food, entertaining, vets costs, vehicle costs, holidays, clothing and anything else I spend money on.
Then I analyse my business expenses: Domain names, hosting, autoresponder, memberships, books, WP themes, WP Plugins, webinars and any other business expenses.
When added together those two numbers give me my break-even target. That’s the absolute minimum amount I can earn to cover all my expenses.
Now the fun part… How much profit do I want to make?
Finally, take the total of your personal expenses, your business expenses and your desired annual profit and divide it by 365.
The number you have is your daily sales income target.
Now it’s up to you to work out how best to generate that income. But you now have something real to measure your next year’s performance by.
Have a great new year!