The “Work Backwards Formula” for hitting your monthly revenue target

When struggling for coaching clients back in 2013, my goal was to get to $10,000/mo.

And at the time it felt as far away as earning 1 million per month.

But I knew that if I could just reach that goal, then all the financial pressure would be lifted off my shoulders.

Problem was…
I had no idea how I was going to get there.

And if you’re the same…

If you have a financial goal - whether that’s 10k, 20k, 30k/mo or more…

I’m going to share with you a practical formula right now, that shows you what you need to do to get to that goal.

Here we go…

I call it the “Work Backwards Formula.”

Here’s how it works…

Let’s pretend your goal is to get to $30k per month.

If that’s the case, the first question you should be asking yourself is…

“How many sales do I need to make $30k per month?”

Pretty simple.

And now let’s also pretend your main coaching program is $3,000.

If that’s the case, then you need to make 10 sales every month to hit $30k.

Again, pretty simple.

But then you work backward again…

So if you need to make 10 sales, the next question you should be asking yourself is…

“How many sales calls do I need to do, to make 10 sales?”

And to get the answer to that, you have to look at your average closing rate.

Let’s pretend 1 out of every 5 prospects you speak to signs up for a $3,000 program.

If that’s the case, then you need to do 50 sales calls to make those 10 sales to get to that $30k/mo.

Then the final question you need to ask yourself is…

“How much of X do I need to do to generate 50 sales calls?”

And “X” in this case is whatever marketing/lead generation strategy you use.

So it could be…

“How many webinar attendees do I need to get 50 calls?”

Or…

“How many book sales do I need to sell to get 50 calls?”

Or…

“How many emails do I need to generate to get 50 calls?”

Etc.

See how that works?

By working backward now you know how many leads you need…

You know how many appointments you need.

And you know how many sales you need.

This is a really great exercise for you to do because it shows you that your monthly revenue goal - whatever that is - is very achievable.

You just gotta know your numbers.

That’s the good news.

The bad news is - most Coaches don’t have an “X.”

Meaning…

Most Coaches don’t have a marketing/funnel strategy that works to consistently bring in leads they can turn into calls, and calls they can turn into sales.

If that’s you, not to worry…

The Aussie Hermit is here to help.

And, I’m going to lay it out very simple in 2 steps:

Step 1) Build your list with paid ads.

By building your list with paid ads you can have leads joining your list every day on autopilot.

The other great thing about paid ads is you can control the amount of leads you get.

Want more?

Scale up.

Want less?

Scale down.

Of course, building your list is not a “sexy” strategy like your latest guru webinar or tripwire funnel. But I find Coaches who have tried the sexy (AKA: complicated) strategies and have failed, realise they don’t care about the bells and whistles.
They just want something simple that works.

Well, my young Hermite, building your list still works.

Really well.

And even better…

It’s dead simple.

Then finally…

Step 2) Email that list every day with an offer to work with you.

By sending an email each day you build “know, like and trust,” and most importantly…

You create a system that brings in consistent appointments.

Once again, this isn’t sexy.

But it’s simple and doesn’t require you to be a marketing guru to make it work.

And that’s it.

That’s an example of a simple system that brings you consistent leads.

So let me wrap this up into a bow for you…

This system is great because you know based on how many email subscribers you’re getting per day, how many of those will turn into appointments each month.

And when you know how many turn into appointments each month, well then you know exactly how to get to your revenue goal.

Anywho, that’s Big Pappa C’s “numbers” lesson for today.

If you want more clients with paid ads and a simple daily email, then maybe my system is for you…

Head on over and put your name on The 15 Minute Client waitlist to know when doors open next:

https://The15MinuteClientWaitlist.com

-Luke Charlton
The Man Cave, Canberra