So you’ve been picking away at your business trying to break through to a certain income or freedom metric. This is the base amount of money you need to make per month to feel completely comfortable. Mine is $20,000 per month. That will cover my monthly mortgage, bills, business and personal expenses, and taxes; set some aside in savings or investing, and leave a little left over for some fun. While I’m not there yet, I can tell you how I got halfway there in just a short time.
No, this is not a get rich quick scheme. This is quick, practical advice that if you apply it, you could be well on your way there too.
- Set clear goals and have a solid plan to achieve them. Without these, you’re screwed.
- Have a clear understanding of your finances and how much you need to make so when you set your price(s), you have a bigger picture idea of what you need to make per day. Check out my Freedom Metric Calculator to help you figure this out.
- Do your research. Know your market and your competition. Know what you’re up against and what your audience wants so you know what to give them.
- Focus on selling stuff rather than doing stuff. See my recent article on the 10 things entrepreneurs spend too much doing (and the expert hacks to help). The more time you waste doing “stuff” the less money you’re making.
- Customer service. Out value your competition. Exceed your clients expectations. Don’t just give them one-off results. Care enough about them to help them get results that last. Happy clients = thriving business.
- Invest back into your business so you can scale and grow.
- Hire a coach or mentor. Don’t go it alone in business. You need someone in your corner to help pick you up when you’re down, to give you advice, bounce ideas off of, etc.
Of course, one of the most important things that needs to be in check in order to achieve all of this is your mindset. A good coach or mentor will help you with that too. Without a success mindset, you can’t reach your goals and move forward on the path to financial freedom.
Good luck. You got this.