For us, right around the beginning of December, we find ourselves wondering about the coming year. We usually end up setting time aside to decide how much money we want to make for the coming year.
For a lot of entrepreneurs, picking this number can feel really hard, and many of us are scared to commit to a number in case they don’t achieve it. And sometimes we don’t even have a clue about how to hit that goal.
If you are an employee, picking a number can feel meaningless since you’re in a job with a fixed salary and may feel like you don’t have a lot of choices when it comes to setting your income goal.
If you are someone who sets a yearly income goal, how did you come up with that number?
In answering these questions for ourselves, we realized that for the longest time, we had a routine of setting our income goal based on the following formula:
And where did this get us? We ended up spending time and money on marketing activities that we did not enjoy. We created more programs than we needed. We entered into more partnerships than were necessary. Basically, we worked ourselves tirelessly.
The result was feeling overworked and underpaid.
And remember, when it comes to setting income goals, it’s really ok to allow yourself to feel the mixed emotions. Excitement, that you can have the TIME + MONEY freedom that you’ve been dreaming of. Resistance because you are not confident that you’ll be able to crush your income goal. Guilt because you’re not sure that you deserve it. Uncertain about how to do it.
Don’t worry, you’ve got this! Firstly, don’t second guess yourself.
The most important thing is just getting started. You can simply follow the 7 steps over and over, until you finalize your income goal. Anyways, it doesn’t cost you anything.
Now that you’ve set a meaningful income goal, it’s time to put a plan in place to make your goal a reality.
Are you ready to incorporate some of these tips into your practice of setting your income goal?
We would like to know if you’ve already set your income goal for the year. How confident do you feel about crushing your income goal? And what has been working for you. Share in the comments below..
Marlene and Thuy have spent over 20 years in the financial industry helping individuals with their investment, insurances, lending needs and are former Financial Planner. Since then, they’ve discovered the missing link to money freedom because as they said: “Making more money and being financially savvy won’t necessarily give you the life you want – because money goes deeper than the numbers.” When you work with Marlene and Thuy, they will guide you through the deeper inner work to remove what is keeping you from having the life that they want.