Week nine of 2015 – Setting Short-term Goals
Not really a summary of my week this time, but I wanted to share with you my new goals. They are more detailed than I’ve done before and they’re focused on generating a passive income. I will most likely continue to work on them as time goes by to improve them, but I feel they are a good starting point. This is definitely not something I have done before, sure I’ve tried, but not in this way.
Thanks to Clint Warren’s book I finally got my head wrapped around this concept and I totally see the value of doing this. I actually don’t know if you can still get it from Clint’s website due to the fact that he past away a couple of weeks ago, but try signing up to his newsletter. If you don’t receive his book, let me know and I’ll be more than happy to share. Onwards to my goals!
1-3 MONTH GOAL
Make a passive income of $1,500 by the end of May on Kindle Books sold on Amazon. The purpose of this is to cover what I need each month in addition to my salary from my part-time job.
First I’m going to finish writing my first book on «increasing your rate as a freelancer» and release it on amazon by the beginning of March. I’m going to follow Stefan Pylarinos step by step guide in Kindle Money Mastery, but first sell it at $0.99 to get some quick sales and some reviews. Then raise the price to $2.99 after the initial release. What I earn on this book will pay for outsourcing to write a new book, so I’m going to pinpoint at least 5 topics to write about. Promotion is going to be an important part of this if this is going to work.
I already got 5 clients on my monthly WordPress Service plan bringing in $270 each month. I’m going to grow that with a minimum of 1 new client at the new price point, so a total of $400. I’m going to revised my maintenance offer and automate it as much as possible. The package is actually worth 3 times the cost.
I also am going to try to get on board one client with a big enough project, around $6,500. And split this into 3 payments to keep a healthy cash-flow. When I get this client is not important, getting the client is the main focus.
I’ve been thinking about putting together some kind of workshop for clients that can not afford to go for any of my other services. The plan is that I only open it for a maximum of 5 persons, so that I can focus on their current website and see what changes they can make to improve results from the website. The price I’ve been thinking of is around $300-350 per person. But we’ll see how far I’ll run with this for now. I would love to get your point of view on this though.
I’m going to continue working on my side-project with my business partner, We’re still in brainstorming, but the concept will be well defined by the end of this period.
3-6 MONTH GOAL
Continue to increase passive income to $2,000 each month by the end of august. The purpose for this is to become more financially independent. This way I get some extra income to pay of debt and any late bills.
I’m going to have a minimum of 10 books selling on Amazon. I’m going to invest in releasing 10 more books in the next period. I’m going to find 10 new topics to write about.
I going to have 2 more clients on my monthly WordPress Service plan, so with the old clients and the new ones that brings in $665.
I’m going to focus on traffic generating articles, not just the journal on my blog. I’m going to look into affiliate marketing as described by Stefan Pylarinos.
I will continue to get on board another new client with a big enough project, around $6,500. And split this into 3 payments to keep a healthy cash-flow. When I get this client is not important, getting the client is the main focus.
I run one workshop each month and have raised the price to $400 for each person. Raising the price also entails an improved workshop session. I’m going to use feedback from past workshops to improve the product.
My side-project with my business partner has now a defined concept, customer profiles has been made, what we will offer to our customer has been defined and also what our offer is to our customers customer.
Keep working on my goals
As I was writing my goals I noticed that they got less detailed. This is also why I have to continue to work on them as time goes by. I might even have to change them or increase my goals, depending on how I progress.
As always, got any question, just ask, I’ll be happy to answer!