If you’re in the process of starting a new online business, it’s probably more encouraging if you chart your progress in percentages rather than dollar amounts. I’m not saying that you shouldn’t keep track of your actual dollar amount, what I’m saying is that tracking your percentages is psychologically more uplifting in the beginning.
For instance, when I first started my online business, my first month’s income was $.63. I was excited that I earned anything, so 63 cents was pretty good in my book. The second month I earned $2.63. Still not a stellar amount of money, but it was a 417% increase in income over the prior month. You see where I’m going with this?
The over all dollar amounts were rather pitiful but the percentages were encouraging. If over a period of a couple months you notice that your percentages are going down (and your income accordingly) that means you need to take stock of what you’re doing revamp revise and get back at it.
When discussing your income with friends and family members who are doubtful about your new business venture, talk to them in percentages. Don’t give them dollar amounts. As a matter of fact, turn the question around and ask them percent increase did they earn this month verses last month, or this year versus last year.
It may make them stop and think that you’re really onto something. Once they realize they’re going to work day in and day out for the same amount each month or that they have received an annual increase of anywhere form 1 to 5%, your numbers won’t look so bad.
Psychologically you need every advantage that you can get when you’re working hard on a new online (or off line) business. The simple process of tracking progress in percentages is another motivational tool that will help you to keep you moving forward.
Even when your business takes off and you’re rolling in money, keep track of your percentages. If your percentages rise, but begin to slow down, you know its time to take stock, revise and revamp again.