How Many Hours Can You Devote to Your Business?
Lesson 4 from: Set Your Income Goals and Develop a Revenue StrategyMegan Auman
How Many Hours Can You Devote to Your Business?
Lesson 4 from: Set Your Income Goals and Develop a Revenue StrategyMegan Auman
Lesson Info
4. How Many Hours Can You Devote to Your Business?
Lessons
The Gap Between Where You Are & Where You Want to Be
07:20 2Determine Your Big Audacious Revenue Goal
08:33 3What Determines Your Revenue Potential?
09:29 4How Many Hours Can You Devote to Your Business?
05:07 5Find Your Production Ceiling
19:31 6Find Your Production Ceiling: Student Example
09:06 7How Many Sales Do You Need to Make to Hit Your Production Ceiling?
04:44 8How Does Your Audience Size Affect Your Revenue?
11:37Audience Size: Student Example
07:49 10How Frequently Do You Sell to Your Audience?
05:48 11Promotional Calendar: Student Example
07:30 12How Does Your Budget Affect Your Revenue?
07:38 13Set Your Annual Revenue Goal
09:32 14Create a Revenue Tracking Document for the Next Year
19:40 15What Did You Do Today to Make Money?
07:44Lesson Info
How Many Hours Can You Devote to Your Business?
We're going to do some math. Who everybody, like sit up straight. Take a deep breath, it's. Time for math. All right, so what's start with how many hours can you devote to your business this year? So, as I mentioned time impacts your revenue in two ways. Time available to produce products and time available for marketing and these air your revenue generating activities. So our exercise here is to determine how many hours you have to spend each week on revenue generating activities. So, first off, how many hours a week do you spend on your business? In a normal work week? You're not traveling whatever kind of a normal week looks like for you. How many hours are you spending on your business? There's? No wrong answer here. Be honest, you want to share and just work all the way think everything we're doing is we're usually right. You and that's. Fine. Teo, I actually personally work a lot. I get really excited when my husband makes plans on a saturday because it was like to go with studio...
mccaskill. Free work day. Um, okay. But then and those hours, who has tracked out all the hours that are non revenue generating? Admin customer service or fulfillment? Answering e mails, listening to classes on creative, live goofing around on facebook and let's face it unless you're really submitting a strong call to action all of your time on facebook is messing around on facebook. Let's be really so it's really easy to spend a lot of time working on your business without actually generating revenue, so we're not we don't time talking this class, I feel like there could be a whole other class about how to get rid of all of this joke so that you could spend more time on revenue generating activities. I think I just designed my next creative life class, but for now we just want to acknowledge how much time you spend a week on that stuff because what's left, it is your time for revenue generating activities. So how many hours a week do you think you have for revenue generating activities many hours a week? Are you spending on either making product or directly marketing that product like solid in front of a computer time answer like reaching out, yes, reaching out marketing or calling stores or e mailing stores or whatever it is that's like you're really solid marketing and then your actual production time, how many hours a week you guys spend on that twenty five to thirty chris and shaken had thirty marketing yeah production and making to marketing and making ok yeah so a large trunk that's probably gonna be making right yes got more to talk about that a minute, tio ok, ok. Thirty nine out of forty yeah, on ben some of its marketing okay and that you seem you know, e I always confused if it was the non generating activities or generating money cause I surprise spend I don't spend right I spent time making but a fine as much time marketing right? I should write so yeah, and so those two things combined are your revenue generating marketing plus making because you can't you don't have proper if you can't sell a product, you can't make money right? But for not marketing the product we're also not making money all right? So that we want to figure out how much time we're spending on those two things combined or how much time you have spent on those two things combined and then you also want to figure out how many normal work weeks you haven't here. So we store you're actually that amount of time that you're spending how many of those do you actually get it's not fifty two I don't care what you do if you're probably taking a week off for a holiday here there or if you're working a day job you might have some weeks where that takes up all of your time I travel a lot, so I have to cut those weeks out so many normal work weeks do you think you have a near? There are fifty two weeks in the year case anyone's for gotten I really have a normal workweek like things like that, you know anything where you're traveling or running around like so you're weak. So how many? Yeah, forty. Yeah, yeah, that fifty and that's my problem? I don't have any time when running around or anything. Yeah, and so if it if you're all I have to fifty, I would scale it down because you want to be able to calculate without having to work that much. I usually also it's funny that you guys are all saying forty because that's usually what I factor that I'm about as well. So now I want you guys to share. So this is really our first f word just starting if you didn't actually write down a number for how many hours you spend on a week in revenue jetting activities, right that number down right now because we're gonna we're gonna build on to math here. So how many hours you so revenue generating activities, members making plus marketing total? What do you spend on those and then also make your note of how many normal work weeks you have in a year
Class Materials
Bonus Materials with Purchase
Ratings and Reviews
user-029387
This was the best class I've taken regarding revenue growth! I've even taken "entrepreneurship" courses and this class was excellent: Megan makes the information palatable, the exercises are simple and she answers every question with ease and aplomb. If I could, I'd give it FOUR thumbs up. Thank you, Megan; I feel like I can take on any goal now with skill.
a Creativelive Student
This was an AMAZING class! Watched twice today and needed to. So much to absorb but oh so worthy! Great way to start the year...can't wait to create my promotion calendar and move my business forward. Thanks @meganauman and Creative Live! Katherine Carey www.katherinecarey.com
Polina
Very valuable 2.5 hours. I appreciate that Megan took her experience and expertise and approached the audience with a lot of respect: condensing a wealth of knowledge into logical and actionable steps. Presenting one's passion is a skill in itself, and it's refreshing to see a speaker so eloquent in their messaging. Have your pen and paper ready, because this course is rich with valuable information. Thank you, Megan!