Yesterday our pastor challenged us to come up with 10 goals for 2012. The 10 for 12 Challenge he called it. The premise for this challenge is to have 10 goals for 2012 across five areas:
- Personal Goals
- Professional Goals
- Relational Goals
- Spiritual Goals
- Financial Goals
I have been thinking on what some of my goals are going to be this year and some of them are really changing the way I think about my life. Goal setting is good. Having it written down and planning for success is how you will achieve the goals you set for yourself.
One of the things I push my sales to do is to set goals for their sales. But more than just setting goals, you need to set realistic goals. When it comes to your sale, what are realistic goals and how do you go about setting those goals?
For your first year, you need to focus on breaking even. Now to focus on breaking even, you need to have a budget. If your budget is too high, you won't break even, in fact, it may take years to break even if you have extraordinary start-up costs. Sales that spend $20,000 on their first sale, may not break even their first, second or even third year because you only have 2 opportunities to be in business a year and you spent too much to start with. However, if you are starting with $2000-$4000 in start up costs, breaking even your first year is a very realistic goal to achieve.
Once you have your first sale under your belt, your next goal will depend on whether or not you started in the Spring or in the Fall. It's important to remember that your Fall merchandise will bring more than your Spring merchandise, so if you started in the Spring, you want to set a goal of gross sales increase of 25%-50% for the Fall sale. If your first sale is in the Fall, you want to set your goal of gross sales goal equivalent of the last Fall's sale. Remember your Spring merchandise is going to have a lessor per item value than Fall/Winter, so you are going to have to move more of it for the same gross sales. And then for the Fall sale you will again look to setting a 25%-50% gross sales growth goal.
Now, that's not to say that you won't grow more or less. My gross sales of my second sale (Fall sale) from my first sale (Spring sale) showed a growth of 300%. It's uncommon, but it does happen and it is unrealistic to think that growth like that is the norm. It's not. And now that I am maxed out on my participant space, my goal is to maintain where I am. However, I am still seeing growth.
The downfall of setting unrealistic goals will inevitably see your hopes dashed and your spirit discouraged, whether it's in losing weight or business planning. So be thoughtful and practical as you look towards setting your goals for this year.
I am pleased to say that my Editor informed me that we met our Professional Goal for last year on December 5th! Yeah for goal setting! Can't wait to see what 2012 brings!