Here we are at the end of the working week – the first full working week of January.
I’ve scheduled this post to be published as I will be getting ready to head to London for lunch. It always feels so decadent and luxurious to go to London for lunch as it is a 3 hour journey each way for me. I am meeting up with Karen Skidmore and lots of lovely members of her Momentum programme which I coach on.
I always find connecting with awesome people is such fun and I know I will come away even more inspired and excited for 2020.
Indeed over the past 6 – 12 months I have been thinking about organising in person meet-ups in Birmingham. I’ve thought about a one-off, monthly, bi-monthly – maybe even quarterly; for a morning, lunch, an afternoon or even a full day. Yet whilst I’ve thought about it I’ve never actually taken any action to move it forward. If something like that appeals to you do comment below – it’s been stored in my “like to do one day maybe” part of my brain but could easily move into the “let’s do it” part if enough people said “ooh that sounds fun – I’d be interested”.
This week I’ve been in planning mode. Looking at what I want to create in my life and business for not only 2020 – but for the whole of this decade.
I shocked myself – having a 10 year goal is unheard of for me! And a money goal to boot: a 10 money year goal and a 1 year money goal.
But actually what shocked me even more was how aligned my goal was to the business training I learnt 10 years ago. Training that over the past 5 years I’d turned my back on because whilst I loved the theory of it – in practice it never panned out for me. When I look back, my goal setting would go one of two ways:
- I’d set a goal, create a plan, work it for a few weeks, either get bored or have something else come along that sounded way more exciting and my plan would get abandoned and a year later I’d be disappointed because I’d not achieved it
- I’d set a goal, but not bother creating a plan, and promptly forget all about it. Sometime later I’d be looking at my sales figures and realised that I had achieved my goal – without taking any conscious action towards it.
From this I concluded that planning doesn’t work for me and I’m much better to “go with the flow” and let my life unfold magically without plans.
Yet this week I’ve not only decided on annual financial goal for my business (and for me personally) I’ve broken the numbers down into quarterly goals.
And this is what blew me away.
10 years ago I was taught that business tends not to increase monthly step by step but that it ramps up each quarter and you get the bulk of your sales in the final 3 months -and you work your business so this becomes part of your strategy. So your quarterly figures actually look like this.
- Quarter One 10%
- Quarter Two 15%
- Quarter Three 25%
- Quarter Four 50%
I’d forgotten all about this and didn’t pay it heed when I was doing my planning. However when I looked at the breakdown of my figures – I realised that they followed this formula – almost exactly.
And then I looked at my quarter one figures which I’ve just completed –and they are pretty much 10% of my annual goal!
It’s actually blown me away.
And it gave me confidence, because I approached my planning from a completely different angle yet it slots into a model that works.
So I’m excited to see how it plays out in 2020.
Having said that I thought I’d quickly take a look at the quarterly revenue percentages for 2010 and 2011 when I tripled my turnover each year. They were:
- Q1 8% 33%
- Q2 48% 27%
- Q3 20% 18%
- Q4 29% 22%
Neither follows the model I was so excited about when I sat down to write this email – but the truth is any model is just that- a model – anything can actually happen in business (and does). Whatever you want to create you can find a model and evidence to back that up – or you can find a model and evidence that will prove it won’t work.
For me my goal is something I’ve put out there – if it happens I’ll be delighted but if it doesn’t, I won’t worry about it or beat myself up. And that’s what makes it fun for me. We often get so hung up on outcomes that we forget that life is about experiences. I’m excited about marketing my business again after being in hibernation for so long.
I hope you enjoy the business focussed posts I’ll be publishing this year.