Hi again - back with the next step!
If you're just joining us now, that's okay. If you want to start from the beginning, here's the links;
i) The Barrier to Success
ii) What is your dream?
1) Planning Your Dream; Step 1
Planning Your Dream: Step 2; Dollars & Sense
We've had people post monthly dream incomes that vary from 500/month to 6000/month. For this example, I'm going to use an amount in the middle.
Let's say I wanted to earn $3,000 per month.
The first thing to do is to figure out how many different ways there are to earn $3,000. Like this;
To make $3,000/month selling a $1 product, I need 3,000 sales/mo
To make $3,000/month selling a $5 product, I need 600 sales/mo
To make $3,000/month selling a $10 product, I need 300 sales/mo
To make $3,000/month selling a $15 product, I need 200 sales/mo
To make $3,000/month selling a $20 product, I need 150 sales/mo
To make $3,000/month selling a $25 product, I need 120 sales/mo
To make $3,000/month selling a $40 product, I need 75 sales/mo
To make $3,000/month selling a $50 product, I need 60 sales/mo
To make $3,000/month selling a $100 product, I need 30 sales/mo
To make $3,000/month selling a $150 product, I need 20 sales/mo.
To make $3,000/month selling a $250 product, I need 12 sales/mo
To make $3,000/month selling a $500 product, I need 6 sales/mo
There are many "sale amounts" that I've left out. $29.99 isn't there, for example. If the price of what you currently sell isn't there, add it to the list.
Then create a list like that for your monthly income goal. See how many sales you really need to make to hit your goal.
You'll either have a number that we can work with in step three -- or you'll realize that you need to add another higher ticket item.
One mistake that many people make is trying to hit their goal with a low priced product. Usually the best reason to sell a low priced product is to gain customers at a low entry price point so they can buy higher priced products after they've grown to know and trust you.
Department stores and grocery stores do this all the time. They put milk or bread on sale. Or laundry detergent. Or something everyone needs. They sell it at a doorcrasher low price. Do you know why? Because they know most people will buy other things they need, too... and those things are at regular price with regular markup.
The same thing applies online. If I sell you a $10 product, it's because I want you to get to know me. I want you to learn what good value I offer... and maybe you'll buy whatever else I sell later.
Do this:
Post one line that says how many items you would need to sell (based on what you sell now) to reach your goal. Like this:
I would need to sell (x) items at (price) to reach my goal.
In step three I'll show you how to figure out
exactly how to reach your goal. There is a very simple math formula that helps successful people online reach their goal. I'll share it with you.
We'll also brainstorm ways to make your goal easier to reach by adding to what you sell and how you sell them.
: )
Linda