Guest blog by Amanda Stubbs, Sense Bookkeeping
I think we’ve all been there and it’s so hard especially when you’re starting out in your own business, but how can you move away from the “make as much money as possible” mindset and set and achieve some income goals?
I get it, we all just want to earn enough money to pay the bills and earn some for ourselves. But where does that get us? Hustle. Hustle. Hustle. Burn out. And no one wants to be there – but I’m confident most of us have been there at some point.
What if I told you that by moving away from simply “making as much money as possible” and setting your financial targets and how you’re going to achieve them can help you to work smarter and not harder?
Sounds nuts right? But hear me out…
If you can move away from the “hustle” mindset, the “must do ALL of the things and spend ALL of my time on the business or I won’t succeed” mindset you can absolutely reach your very own version of success working the very hours you WANT to! Without the hustle. Without stressing over where your next client is coming from.
Ask yourself these questions!
How much do you want to work?
Establish how many hours in a day, week, month or year do you WANT to work?
How much do you want in your pocket?
This one should be EASY! How much money do you WANT to be earning from your business? This is not business profit. This is not business income. This is how much money you want to get physically into your personal bank account (or pocket).
How much does it cost you to run your business?
By knowing how much it costs you to run your business and using a budget you can then plan for your expenses and accessible cash-flow.
How much income does your business need to generate?
Once you’ve got all this income you set BIG income goals! How much do you need to make in your business to pay for all these things? Let’s look at that big number.
WHOA! Is that even achievable?? I say hell yes!
Grab that annual amount…. Divide it by 12. This is the amount you need to bring in each month. OR divide the big number by 52… that’s how much you need to bring in each week. Now doesn’t that amount feel so much more attainable??
How are you going to generate that income?
Now this is the fun part…. HOW can you create that income? Is it 2 clients per week/month? Is it 5 projects a month? Is it 1 project a week? And use the hours you WANT to work to make sure you can physically deliver the results.
By doing these things, you’re not just flying by the seat of your pants. You’re not just “making as much money as possible”. You’re setting tangible and measurable goals! And you’re starting the process to release your inner CFO and set your business up for success.
Here at Sense Bookkeeping I’m busy behind the scenes building something amazing to help women in service-based business Release Your Inner CFO! Join the waitlist now to be the first to get all the details when the doors open!
About the author: Amanda Stubbs, Chief Number Cruncher from Sense Bookkeeping.
My passion in life is to work with you to make sure your business is running efficiently and effectively and you’re not spending money where you don’t need to! There’s nothing worse than having a nasty surprise at the end of the financial year.
I have spent the last 16 years working in the financial services industry, from a small financial advice firm to a worldwide bank so I’ve gained experience and knowledge across all different levels and types of business.
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