Join Me for a 4-Month Exercise in Productivity & Profit Building

The above sounds so corporate-bland, doesn’t it? All it means is that I’m setting a goal for myself to make X amount of income by the end of 2008.

The goal will continue on indefinitely, but December 31, 2008 will be the “check point” where I assess how it’s coming along, and if I can meet or maybe even exceed my goal. If I find that I’m in excess of my goal, super! Maybe I’ll set a higher goal and then try to reach that next.

If I miss my target income, then I’ll know that what I need to do is hire teams of people and set up automated systems that do the work for me - so that I CAN use my time more profitably.

Are you with me here? Do you want to try it?

Let me explain this process. It’s not new, I did not invent it; it’s just something that’s a really smart thing to do but we all tend to forget.

1. Set a yearly income goal. Example: “I plan to make $100,000.00 this year.”

2. Divide that goal by the number of weeks that you plan to be working in a year. Let’s say, 50 weeks. So the target number is $2,000.00 per week.

3. Divid that number by the amount of days you want to spend working per week. Let’s say it’s 4. So now your weekly target goal is $500 per day, within a span of 4 days.

4. Work that out to an hourly income. Now you know how much to charge, and how many hours per day you need to spend working on PAID projects.

Next, your job will be to go out and set up situations for yourself where you know you will have paid work coming in. Keep a daily journal where you can log how many PAID hours you’re putting in every day.

Let’s say that yesterday you worked 5 paid hours but you know you need to reach a total of 32 paid hours per week to reach your goal. So that means in the next 4 days, you need to work harder to be sure you get in 27 more hours of PAID work. You can pace yourself; for example, if you get up early tomorrow and work hard on paid projects for 10 hours, you’ll be behind the 8 ball and maybe even can take a break!

As you get used to the process of being mindful of paid hours, attracting situations where you are being paid, you will realize that X amount of NONBILLABLE hours manage to take up your time per day. You’re caught in the trap of managing the back end of your business.

Like what? Self promotion. (If you don’t self promote, where do the paying opps come from?) Billing. Fielding customer queries, questions, resolving problems. Following up with clients who need a nudge. Handling tech issues as they arise. Bookkeeping.

When it really hits you that you truly can’t manage it all and reach your target income, that’s when you’ll realize what your time is worth, and what you’re willing to pay another human being (or more than one) to handle tasks that are outside of your realm of expertise.

When that happens, maybe you want to call a copywriter? Dina@Wordfeeder.com.
So how about it? Want to set a target income goal with me? Let’s do this.

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