Reverse engineer your goals
Online Business

#191 – How to reverse engineer your 2024 goals

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Today, I want to get stuck into the topic of reverse engineering your goals and share with you the step-by-step process we use with our clients. This process will not only help you set effective goals but also create a plan to achieve them.

Planning out your year can be an overwhelming task, especially when you’re not sure where to begin. You may have heard people talk about starting at the end and working your way backwards, but how do you ensure your goals are realistic and attainable? That’s where reverse engineering your goals comes in.

To begin, I recommend grabbing a spreadsheet or pen and paper along with a calculator. We’ll be breaking down the process into five steps and I’ve stepped them out for you below.




Step 1: Calculate Your Break-Even Point

The first thing you need to do is figure out how much you need to earn this year. Determine the amount you need to cover all your costs, expenses, and of course, pay yourself. This is your break-even point, and it serves as the minimum amount you need to make. Knowing this number is crucial because it anchors your goals in reality and makes them more motivating.

Step 2: Define Your Target Income Goals

Once you’ve calculated your break-even point, it’s time to set your target income. Choose a number that is higher than your break-even point but still feels achievable. Consider what improvements you want to make in your life and calculate how much additional income is required to reach those goals. Don’t forget to include a buffer of 20 to 30 per cent on top of this number.

Step 3: Determine the Number of Sales

Now that you have your target income, it’s time to break it down into the number of sales you need to make. If you have multiple products, analyse the ratio of sales each product contributes. Apply this ratio to your goal and calculate how many sales you need for each product. This step gives you a clear breakdown and helps you determine which products require more focus.



Step 4: Assess Your Funnel and Promotion Strategy

Now, let’s consider how your marketing funnel and promotions contribute to your sales. If you have a funnel, analyse the number of sales it generates and determine how much of your target income it covers. If you don’t have a funnel, you can estimate the average number of sales you make through other channels. Additionally, consider the number of promotions you plan to run in a year and allocate sales goals to each promotion based on your product ratio.

Step 5: Reverse Engineering Your Goals for Leads and Engagement

Finally, it’s time to reverse engineer your goals by looking at your leads and engagement. Determine the number of leads or engaged customers you need to reach your sales goals. Understand your conversion rates, cost per lead, and the size of your email list to identify how many people you need to reach with your offers. This step provides a blueprint for what you need to do to achieve your goals and helps you stay focused.

By following this reverse engineering process, you’ll have a clear road map to reach your goals. Remember, setting goals that feel tangible and realistic is crucial for long-term success. So, grab your calculator, get started with these steps, and watch as your goals become achievable targets.

Wish there was a way you could basically guarantee you would make sales, the second you opened your cart?










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