Do you even know your break-even point???
(*Much different than your breaking point*)
We all approach goal setting differently – some measure success by money earned, some by hours spent with family.
However you define success, there are some basics everyone should know about their own personal lifestyle that will enhance their own personal success.
Every day when we deal with clients we talk about their break-even points… their profit centers.
Do you know what your personal break-even is? How much money do you need coming in just to survive (how many of us would be happy with just that)… vs how much money do you need to live life the way you want to?
Before you can be successful, you need to know exactly how to measure that success… Do that by establishing your own realistic levels of monetary success.
Everything in your life that is an essential: Mortgage/rent, Food, Car, Insurance, Hydro, Phone and Cable are the bills that come in every month without fail. Develop a minimum for entertainment, kids, spouse and clothing and add that to you break-even point. From there you know exactly what it costs: just to survive. Extrapolate that into
sales and voila – you know what you have to do ‘just to survive‘.
Now add in the extras that you want to include in your lifestyle and translate that into sales. You now know your two minimums of products. Which one are you going to strive to achieve?
My BHAG* (*BHAG is an acronym for the phrase BIG, HAIRY, AUDACIOUS GOAL. It was coined by Standford professors Jim Collins and Jerry Porras. They used it in their book Built to Last, which was published in October 1994, but as the earliest shows, Collins was using the acronym and phrase as early as 1992*) was 2 new customers per period. Prior to establishing those levels consciously, my production was inconsistent and unfocused. How could I reach a goal, if I did not know what it was?
When I did set that goal – you can see the day AND date in the shift of my production.
How About You?
