110: How To Set Income Goal

Show Notes

110: How To Set Income Goal?

When it comes to setting income goals, it’s really common to get blocked or feel like you’re not doing it right.
Now for a lot of women, picking a number can feel really hard and many entrepreneurs are scared to commit to a number in case they’re doing it wrong. So today, I’ve got some income goal setting tips for you, and a resource to help you overcome your resistance to making more money.


Don’t overthink it

02:42- 02:44 First up, don’t overthink it. 
02: 45- 02:50 The most important thing is this, don’t overthink your goal setting to the point that you never do it.
02:56- 03:04  Goal setting is free – you can do it as many times as you like, and change it whenever. It doesn’t cost you anything to set a goal.

03:04- 03:20 So don’t procrastinate just because you somehow think you’ve only got one shot at it. That’s perfectionism getting in the way, and it’s the single biggest block to becoming a good goal setter.
Why do you even need an income goal?

03:31- 03:37 Setting an income goal will focus on you, and help you make decisions in your business.

03:38- 03:58 When you’re weighing up ideas or the value ladder that you want to promote, you can look at your goal to help you decide which direction will best serve your overall goals. This can save you a lot of time and wasted effort so you don’t go off in random business directions.
Should your goal feel like a massive stretch?

04:09- 04:34 For some people, that’s motivating. I personally like to set big hairy goals and achieve them. Like helping my clients launch 1,000 episodes of the podcast in 6 months. But if it’s going to freak you out and scare the hell out of you then set a more achievable goal for yourself will make some sense.


There’s no perfect way to do it

04:40- 04:44 The next thing to know is that there is no perfect way to set your income goals.

05:01- 05:13 The big secret is that your intention and your clarity are the most important things and a goal that you change over time, is better than no goal at all.
Ways to set your income goal

05:17- 05:29 Here are some ideas for you. Income plus a percentage. One of the simplest ways to set your income goal for the year is to take your income for the past year and add a percentage. 

05:30- 05:49 The percentage you choose could be based on how much you want your business to grow, or you could choose a number that feels good for you. Would 20% feel good? Again, it should be an exciting stretch, but realistic enough to believe it’s possible or else you get a mentor to guide you.

Calculate your lifestyle costs

05:55- 06:09  Another way to set an income goal is to think about the lifestyle you would like to have in the following year and calculate how much it costs you and that will give you a profit figure that’s based on your goals and dreams.

06:10- 06:31 When you can see it on paper, it makes it more real and possible. Somehow, numbers get translated into massages, organic food, and travel plans, or whatever lifestyle choices you make that makes it real in a way that numbers on a page sometimes just can’t do.

Get strategic

06:34- 07:00 Think about the products and services that you offer, and how many of each you’d like to sell. Then look at how much money that will make you, and whether that’s a goal you’re happy with. If you are, then great! Your goals have been made. If you’re not, then you might want need to look at raising your prices or creating something different to sell.


Pick a number, any number

07:03- 07:15 In reality, a goal is just a number, so it’s perfectly fine if you want to just pick a number out of your candy box or tissue box and use that as your goal.

07:16- 07:32  Loads of successful people do it this way, and it works just fine for them. Remember, it’s the clarity and intention that really matter, so as long as your goal is believable and stretches you a bit out of your comfort zone, it’s the right goal for you.



Money blocks can get in the way

07:38- 08:15 If you feel like setting a goal is too hard right now, or you’ve set one and can’t believe you’ll make it, then you’ve probably hit some money mindset blocks. That’s really common, and nothing to worry about. I’ve been helping women like you clear money blocks and becoming a soul rich woman for years now, and it’s honestly the fastest way, not only to increase your income but alsp to expand your belief of what’s even possible for you.



Key Takeaways:

1. Income plus a percentage.


2. Calculate your lifestyle costs.


3. Get strategic.


4. Pick a number.


5. Money blocks can get in the way.

Key Resources: 
Subscribe to Genecia’s Youtube channel: https://bit.ly/2lFnHlW
Visit SRW’s website: https://www.soulrichwoman.com 
Follow Genecia on Instagram : (@geneciaalluora)
Follow Genecia on Twitter: (@GeneciaAlluora) 
Check Genecia’s LinkedIn: https://www.linkedin.com/in/genecia/