You’ll be glad you’re reading this blog post because I’m going to reveal to you the
#1 mistake that coaches make when setting financial goals…
But first, let me share with you a dark secret about the coaching industry.
If you’re surrounded by coaches like I am, or follow coaches on social media, then you often see huge income claims like…
- Product launches of $1M+ in a few hours…
- Events that have produced 6-7 figures in one weekend…
- Online Summits that create 20K-100K+ new email leads…
What you don’t hear about is the amount of money these coaches spent to generate this revenue.
You don’t hear about the 50% commissions they paid out to their Joint Venture Partners.
So when setting your financial goals in your business this year…
Do NOT make the mistake of only setting top line gross revenue goals.
It may be sexy to generate 6, 7, or 8 figures in your business, but your gross revenue doesn’t pay your bills.
Your Net Income, or the amount left over from your revenue after all expenses is what pays your bills at the end of the month.
So in addition to setting your gross income goals this year, make sure to set some bottom line net income goals as well, so that you strategically manage your expenses throughout the year.
I know this wasn’t sexy to read, but I hope it was worth it.
If you found this article to be valuable please share it and leave a comment below about your biggest takeaway!
Live Your Life Fearlessly,
Peter Scott IV – The Fearless Mindset Mentor
Founder, Fearless Life Academy
#1 Best Selling Author, “The Fearless Mindset”
P.S. If you’re truly committed to making the impact and earning the income you deserve in your coaching business in 2017, then I encourage you to check out my newly launched “Earn $10K Coaching” Course, so that you discover exactly how to earn your first $10K and beyond in your coaching business.