Ask most small businesses what their financial objectives are and they will go silent. Many people haven’t taken into consideration what their ultimate financial goals are. Those that do answer, simply say “to earn as much as possible”.
Attempting to constantly “earn as much as possible” = being very busy.
Many people become self-employed to find freedom and flexibility, yet by not defining their financial objectives they deny themselves of this goal.
Understanding what your financial objectives are is vital to you escaping the “busyness delusion” and achieving success.
One of my clients was a graphic designer who was tired of chasing job after job; pitching for project after project. He was tired of always being busy, never knowing for certain what he would be earning, and frequently being overwhelmed by the sheer volume of “tasks” on his to-do list.
So he came to me for some help.
The first thing we did? We defined his financial goals. And we did that by using my FSTN map (the Financial Security Calculator).
He calculated what he needed to earn each month in order to cover his bills and expenses.
He calculated what he wanted to earn each month in order to have true financial security.
And then he calculated the number of clients he’d need to work with each month in order to achieve that goal.
And here’s when things got interesting. Because with the FSTN map, he was able to see all the DIFFERENT ways of achieving that goal. He was able to see the number of clients he’d need each month, at varying rates, that would lead him to this goal….
Most importantly, he was able to see that if he secured just 6 clients that were long-term rather than one-off projects, and so generating monthly recurring revenue, he would be able to reach his goals far more quickly, far more efficiently, and far more easily than by continuing to chase new leads and pitch for new clients every month.
Which led to him starting to think of new ways to offer his services … of new potential clients he could work with … of new “things” he could focus on spending his time on that would help him achieve that. Time that could replace the many hours he currently spent looking for and pitching to clients.
And with my help, he came up with that new offer … he focused on finding and servicing those 6 clients … and within just 8 months, he had achieved what he’d set out for.
He had achieved his financial goal … and his financial freedom.
Better still? He’s just one of many such clients of mine. Of small businesses that have gone from busyness and overwhelm to consistency and financial security … and they have all achieved it by starting at the same point: with a clear financial goal.
A specific financial target, and a “map” enabling you to identify the different routes that will help you achieve it, is the first step to achieving success in your business.
Know what you want, know what you need in order to achieve it, and suddenly you know what you need to be focusing your time and energy on….