Financial Goals for 2020
This is always a great time of year for me and most freelancer. Business slows down, and I really take this time to begin crafting goals for the upcoming year. While some (freelancer and agency owners) will develop goals for growth of the business. I spend a lot of time working on not just business goals, but also financial goals.
Many might not see the differences, but your business goals could be to develop a sales funnel to introduce you to more prospective clients. A business goals might include creating a more efficient design process. Maybe creating more contacts by creating a Meetup or attending more chambers of commerce events, these all might be business goals.
I spend a lot of time reviewing my past sales. Where did these sales come from? Where they referrals. Did someone cold call me? Was I just at the right place at the right time? How much did I spend on my expenses? Were these expenses necessary? If I am paying for anything and have not used it in three months, then I will check to see if it is a necessary items. I review all payments, some have annual renewals. Do I need these items in 2020? Making sure to cancel any unnecessary applications or plugins, so that I do not get hit with a surprise payment.
Looking at ways to grow my business. I will review my business goals from 2019. Many plans were put in place, but are not on my plate today. What happen? Why did I have it as a goal, but jumped ship. Was it a good idea, with unrealistic expectations? Should I restart it…
Financial goals are always a good thing. Being a goal oriented individual, I always check my goals and make sure that I am staying the course. This is a good time to write down goals and expectation for your business and financial needs. Make sure that your finances are separated, business and personal finances. Maybe you want to make a huge purchase, then you will need to improve your sales. Write down ways to get more sales. Do not expect just to charge more? Figure out ways to get more exposure for you and your company. I am presently working on creating a new ERA for my company. Just looking at ways to improve my business strategy and how am I going to reward myself for these changes. Many are on a personal level, but some involve finances.
Image courtesy of Vitaly Taranov.
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