Things are still incredibly busy at this time of the year, but I did manage to find a little time to think about how I can make this time next year a little easier. I looked back at the past few weeks and realized that if I had hired someone to take on some of my responsibilities (or responsibilities of family members) things wouldn’t be so hectic.
Instead of running around like a chicken with her head cut off, I could have been sitting back pointing and directing. Directing a process is so much easier than ‘doing’ a process. As a result of this busy time, I made a 10% vow to myself. I’m going to do what it takes to see a 10% increase in my monthly income each and every month.
By the time next year rolls around, I will be directing the process instead of doing the process. Think about it for a minute. 10% on a monthly basis doesn’t sound like very much depending where you are on the writing income food chain, but over a period of 12 months it makes a significant difference.
My Spreadsheet of Numbers
I made a quick spreadsheet to see where I would be in 12 months if I worked to improve my income by 10% a month.
|Month||Sample Income Level + 10% Increase|
After I made this chart, I plugged in my actual numbers based on last month’s income (residual and up front). It’s no secret that my first residual income goal is to earn $5,000 a month. If I work smart, I’ll make the $5,000 monthly income goal within a year with a month or so to spare. The key to making the goal is to work smart (not hard).
The Next Step
After calculating my annual goal, I broke it down into small digestible pieces. I calculated how much money I need to earn each day in order to reach the monthly goal. Fortunately, about 95% of my income is residual so meeting my daily goal at this stage of the game is not too difficult. That being said, I can’t rest on my laurels because if I do, I’ll have to work like the dickens by month #3 or 4.
In order to avoid pitfalls, I’ve got to dangle my monthly goals in front of me. By May and June of next year I want to be sitting back directing the process. While the quick $15 Demand Studio article is nice for immediate cash, in order for me to reach and sustain my goal I’ll need to continue to focus on long-term residual income.
I know this is a busy time for most of us, but try to take a moment to see where you are and where you’d like to be. Once you determine where you want to be, set a time frame and chart your course.
It’s kind of like going from New York to California. If you’re not in a rush, you could get in an RV and take the scenic route. You’ll learn a lot along the way and enjoy the journey. However, if you want to get to California in time for your nephew’s wedding on Friday; you’ll have to buy a ticket and hop on a plane. Either way you’ll end up in California, but you get to choose the route and the speed to get you to your destination.