Wednesday, January 8, 2014

Income Boosting Strategy for 2014




 
 
I had the good fortune to listen to Alyson Stanfield's Income Boosting Strategy Webinar yesterday.  It was perfect timing.  I was in the middle of doing my 2013 review and in the right frame of mind to start planning for 2014. (or is it left frame of mind? I can't ever remember which side does what.)  The webinar was an hour and she described in detail her 5 Step formula for increasing revenue.  This was tailored for artists, but I guess it could work or any business.
 
 
If you would like to listen to a replay of the webinar, here is a link.  I think it will available until January 14.
 
Listening to the webinar is the easy part.  Implementing the strategy is the commitment part.
 
I decided to jump right in and make a plan with specific tasks written down.  I decided not to take the "it's all fabulous, let your inner-self guide you" approach.  Don't get me wrong the inner-self is often worth listening to, but not if it is telling you to "just go paint, you can do this later", every time the hard work needs to be done.  Which is what my inner-self says most of the time.
 
Here is what I am doing to make the plan work. Please note that this is a monthly plan. So I will need to pay attention to it.  I don't want to get to next October and realize I have 3 months left to meet my goals.
 
 
I made a chart with my income categories and columns to set goals for increasing revenue by certain amounts. Notice that I have set the increases in different amounts 20% - 40%.  I know that there are some categories that I will have to work hard to increase them even by 10%.  But, there are some categories I have paid so little attention to that I think 40% is very doable.
 
 
Notice that right next to the categories is a column for what my monthly average was is 2013.  I have spent the last 2 days doing the work to get me these numbers.  Shame on me.  I should have been  doing them on a weekly basis.  You can't implement this strategy until you know the numbers.
Here is what that unknown numbers formula would look like;
$??.00 x 20% = $??.00
 
 
Next I have added columns for;
1. the additional amount needed to make the increase
2. what that would total each month
3. and  how to get there.
 
 
Notice that I am not saying, "get more likes on Facebook", or "comment more on other people's blogs".  These are income related tasks. I have written these in pencil, so if they don't seem to be working I can change them.
 
So the easy work is done.  Now I just need the discipline to do the tasks and stay on track.
 
Did anyone else I know listen to the webinar? Let me know, we can compare notes.
 
My tasks for today;
1. take photos of the recent pottery
2. use photos to create new Etsy listings
(my Etsy store is in a sorry state)
 
When those tasks are done I get to paint! 
 


6 comments:

  1. Wow! Maggie, this is fantastic. Congratulations on your hard work! I know you will do well with your new plan.

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    Replies
    1. Thank you Alyson, I feel much better about the coming year, things seem more doable.

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  2. Hi Maggie, I just wanted to thank you for sharing your process and the video by Alyson. Most helpful and encouraging. Lovely work too. Cheers Saren

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    Replies
    1. Hi Saren, you are welcome, lovely to meet you.

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  3. Hi Maggie - saw the link to this article on a post by Alyson. I was on the Alyson webinar as a refresher to having done this as part of Alyson's Artist Conspiracy -- now Alyson's Silver group. I only partially did it last year - left out the monthly review so I am in the process of doing it for this year -- l like your approach of different % for different streams of income. And my Etsy shop is in sad shape too! Terry

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  4. Hi Maggie, I followed the webinar too and your approach identifies the familiar to me 'inner self guide' v just doing it and making progress. I like how you set out your plan too. Thanks for sharing.

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