2019 Revenue Goal Setting

As we approach a new year I am actively working with business owners in helping them set powerful and effective revenue goals for 2019. I have noticed two extremes when it comes to thinking about goal setting. I am wondering where you fall in this spectrum of how you think about setting revenue goals for your business.

The one extreme is where you set a pie in the sky number, something that from one perspective is unrealistic but done from a place of "You have to set the target to be able to hit it" or "Aim for the stars and hit the moon". Everyone once in a while this approach leads to out of this world results more often than not it leads to disappointment and once again not hitting your yearly goal.

The other extreme is where there isn't any specific revenue goal set at all but an approach of "we want to do better this year than the last." This approach leads to not maximizing the power of focus and intention that is possible with having clear revenue goals and thus minimizes revenue potential.

Here are some guiding principals for revenue goal setting.

1. Pick a revenue goal that you are confident you can hit but also makes you grow

2. It feels better to hit your revenue goal or exceed it than it does to fall short. Put yourself into a position to feel good.

3. Have someone that can guide you and help you think through that is a powerful yet effective revenue goal.

Base your revenue goal on the following factors:

1. The previous years revenue (2018 in this case)

2. 2019 revenue trends

3. 2019 revenue opportunities

4. Your gut (make sure you are feeding your gut with healthy metrics and data)

5. Your intuition

Revenue goal setting is key to your growth methodology and effective growth. How you do it and the thinking behind it are key.

What have you found to be an effective way to set yearly revenue goals?

How can I help you set a powerful yet effective revenue goal for your company?