When you are starting out to build a business, you must have a financial goal. Without that goal, you are moving without direction.
You would not be able to know for sure if the business is viable or whether you should put more resources into building it. Or even whether you should be doing something else. It is a measure of whether your business will survive or not. Even with not-for-profit organizations, you need to be financially viable to be able to continue to operate.
What financial goal should you set for yourself?
It has become the trend nowadays to hear gurus or experts promising 6-figure businesses in 30, 60, or 90 days if you follow their systems. For the desperate, this appeals right to their needs. It sets the expectation that you should perhaps be targeting for the big numbers like $100, $200, $300, or even $1000 a day.
It is appealing because more often than not, you do need that type of income to sustain the lifestyle you envision.
In reality though, how many people actually do start making $100 or $200 profit per day right off the bat?
There are far more spectacular failures than successes if you go this route – especially when you desperately need results fast. You end up spending more money than you should chasing that dream. And every other dream which comes along. It is the seed of not being able to focus, frustration and self-doubt.
Unless you are already making money consistently online, the practical way is to start with something which builds up your confidence. Set a small financial goal and succeed with that. Eventually, you will be able to confidently set bigger and higher goals for yourself and your business.
I’ve seen so many people breaking through their own self-limiting beliefs when they make a sale for the first time – no matter how small. You can feel the energy and motivation when that happens. Suddenly everything seems possible.
So how small a financial goal should you set?
How about $5 a day?
That’s very doable. But perhaps that seems like quite a bit far off from your personal financial goal. It doesn’t seem like it will take care of the bills. And certainly not going to make you a financial success.
Or does it?
As counter-intuitive as it may sound, it is actually easier to succeed with a $5 a day target than a $100 a day target. At least at the beginning. Think about it. Which is easier – to make $5 every day or $100 every day?
Listen to the story of Dennis Becker, a very successful and long-time online marketer:
Back in 2005, I was absolutely miserable… I had maxed out almost all my credit cards, didn’t want to tell my wife and make her upset, and was over $100k in debt. Way over 100K in debt, and that didn’t include the mortgage on my house or the home equity line (which was also maxed out).
My wife kept asking me when we’d be able to pay down our debts (thank God she had no idea how bad they really were). I told her, “I’m working on it”… but the problem was I’d been saying that for years.
They lasted more than 3 long years and ended in November 2005. That was the month that I made a realization and had an “ah-ha moment” that turned it around for me.
That realization was the power of $5 a day.
Dennis shows you how by just making $5 a day, you will effectively be making $1825 per year. And that’s just for working for a week. It’s quite a revelation when you begin to understand how that works.
It’s a very legitimate business strategy which will work for whatever business you have in mind. It’s not specific to any particular business. You just have to apply the strategy to whatever you are doing, or even if you are planning to start a business.
Check out his story and system. It’s well worth your time and could be a life-changer for you.