I just finished my Q4 plan and can say with confidence that it is going to be an exciting three months! Every quarter I put together a detailed plan of what I want to accomplish and measurable goals I can track towards so I can definitively say whether I hit my plan or not. This is something that I think many people forget to do which means when the year ends you really don’t know how you did. Sure – you can say, well I made $X in profit – but if you never had a goal to begin with does that number really mean anything?
Given the current economy it is more essential than ever that you keep close track of your expenses and make sure that you are bringing in more money than you are spending. Since it is now October and the beginning of Q4 I thought this would be a good time to review how you can plan for the next three months. Below I have a list of questions you should ask yourself every quarter – if you haven’t done this yet – start doing it now! At the end of the year you can then look back on this list and see if you reached your goals, if you didn’t you can figure-out where you went wrong and avoid making the same mistake twice.
Print-out your list of goals and put it on your desk – every time you are about to spend money look at your list and make sure that what you are doing is helping you get closer to your goals.
What is your Q4 Revenue Goal? (Specify an exact number)
What is your Q4 Profit Goal? (Specify an exact number)
List the Top 3 Revenue Sources for Q4: (Could be domain sales, monetized domains, affiliate products, etc)
1) Revenue Source #1
2) Revenue Source #2
3) Revenue Source #3
How many domains do you plan to buy in Q4?
What is your budget for buying domains in Q4?
What are your 3 overall goals in Q4? (This could be to develop a site or two, start a blog, post more on a forum – make the goals measurable)
1) Goal #1
2) Goal #2
3) Goal #3
If you haven’t done anything like this before you will find it very empowering. This is a first-step towards taking charge of your business and expenses. Having this sheet in front of you each time you are at your computer will let you easily reference your plan and ensure that the tasks you are doing on a daily basis are moving you closer to your goals. So start planning for Q4 today – it’s already here!