There is a common question being asked in all my business success and Etsy research and most recently coming out of my husband’s mouth, “what are your business goals for 2018?”. My answer was “make more money?” duh. I didn’t say duh to my hubby because I love him and he brings up a great point. I need to set some financial goals for my Etsy business.
So I’m going to pause for a moment and write some specific goals. I don’t really like the word goal because I think the next word that immediately comes to mind is FAIL. So let’s call this plan My Financial Destiny for 2018.
Here is a nice short-ish article on successful goal setting from Huffington Post . According to them the top 3 goal setting behaviors that guarantee failure are (and what I’m doing to counteract):
- No Accountability – I started this blog: this makes me accountable to an outside influence since I’m an “Obliger” * even though no one might be reading this yet when I published my first post I felt immediately vulnerable, like some big security camera had just swiveled towards my house and zoomed in while I was peeing.
- Unrealistic Expectations – I was tempted to try for $24,000 + and create a second income essentially but that number doesn’t feel attainable to me (see believe it achieve it)
- Incongruency between what the person says they want and what they really want- the example given was a person going to the gym and not enjoying the workouts – for me this translates to keeping it in the fun zone, i.e. maybe don’t make a line of jewelry that is based only around what is popular, be true to what I love so that increase in success = increase in happiness. I already have a regular paycheck, what I’m really looking for is to love what I do for a living.
My Financial Destiny for 2018
- One Sale a Day – this seems to be a common idea with Etsy business people and sounds fun.
- Increase total sales to $10,500 in 2018 – if I sell 1 of my best selling products for 365 days the total is 2 dollars shy of this number. Obviously I’m already behind this month but I’m hoping for others sales from my new products etc.
This is a very short list but I’m keeping it simple and achievable, each of these points can be expanded with more details as I go along. Also having a kind of mission statement for the year I can check back in with new ideas and plans to see if they align with my statements and keep me focused.
* I heard another really great Tim Ferriss interview with Gretchen Rubin, Experiments in Happiness and Creativity. Specifically the part on the Four Tendencies Quiz which I’ve linked so you can take it yourself. I am an Obliger, meaning I actually will follow through if an obligation is external but often times can resist internal obligations and being accountable to myself. So even though Tim Ferriss makes a great point about all the tools available that can help you be accountable, such as pledging money to an awful charity if you don’t do X, that still requires me to do the first part and if my boss doesn’t expect me to, chances are I won’t.
Update: Since writing this I have started using this exercise daily and at work. First thing in the morning at work I make a short 2-3 item list answering the questions – if I only had 2 hours to work today what would I want to get done? and/or What would make the most impact today? This has been super helpful in directing my day, I have a tendency to drift on side projects, emails and people who want my attention immediately. I can always come back to my list to prioritize. Cheers!