#1 Where are you going?
What do you consider to be successful? Are you achieving what you set out to achieve? Setting financial goals will help you answer both these questions. Your answers will be different from the next person, they are solely based on your situation. Once you figure out what you need to achieve, i.e £1000 per month, £5000 per month or £10,000 per month, you can then decide how you are going to achieve it. Which brings us on to our next point:
#2 Different financial goals require different strategies
A small “extra spending money” goal will require a different level of effort and a different plan to achieve than a “buy a million pound house” type goal. If you are hoping to earn money to buy a house (million pound or otherwise!), you will really have to prioritise the money-making activities, and make sure you are spending time to your best advantage.
#3 Setting financial goals help you stay focused
There’s a reason for the phrase “keeping your eye on the prize”! It helps you stay laser focused on what you are there to do. Yes, it is sometimes fun messing around with the pictures for marketing, but is it providing value? To your customers, your potential customers, and to your business? If the answer is no, you probably need to find something more productive to focus on. On the other hand, if your financial goals aren’t that big and you are doing it to meet more people in your local community and have a bit of extra spending money, then spend your time doing pretty pictures if that’s what you enjoy.
#4 You can find the right tools to help
If you are serious about making money with your business, there are many tools out there that can help you. For example, ClickFunnels – this is a piece of software that can help you create an online sales process. The normal price of this is $97 per month, but that isn’t a big investment for your business to make if it helps you convert 4 times as many people into customers.
Obviously, I’m not advocating that you go and pay the $97 per month without doing your research and training to make sure you can use it to your best advantage.
There are also other free tools that can help, for example, Canva for creating free images to share.
Knowing what your goals are will help you critically evaluate the tools available and whether it will help you achieve them.
#5 Setting financial goals creates a sense of achievement
Setting your goals is the first step towards achieving them. The journey isn’t always easy, but that is what makes the sense of achievement all the greater when you get there.