Last week, (a little later than planned!) I spent a whole day planning and goal setting. Such luxury to spend a whole day out of the normal business and take a step back to think about the year ahead. (At the Manor by the Lake as well which is one of my favourite places ever!)
The week before I had given a short talk at a networking group about how setting goals really helped me to move my business forward. For me goal setting and tracking is so important for making changes and it surprised me a bit how things I took to be pretty day to day were new to some of the people I was talking to.
I explained how I worked out the amount of time I want to work each year and then what services I wanted to sell. This allowed me to play around with pricing and packages and work out what was most profitable (not that this is always the most important thing but it’s good to be able to pay the mortgage!). I can then think about how many of each ‘service’ I want to sell.
I am a spreadsheet geek (I know, who’d have thought!) and I have a little spreadsheet that I can use to quickly work out how profitable different services are. I’m sharing it at the bottom of the post if you would like a copy for yourself so you can have a play around with pricing and volumes too.
Firstly I work out what I would like to sell. I am going for one to one Blueprint Programmes, Group Online Programme, a small amount of hourly work (for clients I have already worked with, this is something I am trying to phase out a bit) and group workshops which I love.
These go in the first column called services.
Then I add my prices for each service, the number I think I can deliver in a year and the costs of delivering each service. And bingo the spreadsheet works out the profit from each one.
I made a little video to show how it works for those of you who might not have used Excel very much (this will also open in Google Sheets if you don’t have Excel)
This is a cut down version of a spreadsheet I share with my clients and I know some of them have found it super useful in helping to work out what services they are going to focus on. If you would like a copy just pop your email in below and you will be able to download a copy. Enjoy!