How To Set Goals for Your High-Ticket Drop Shipping eCommerce Business
Hey guys! Welcome to today's episode.
I am going to talk to you about why you need to set goals for your eCommerce business.
There are three main reasons.
Setting goals will help you stay motivated daily. If you know what you're working for and what you're working towards, you'll want to work harder.
One of the best ways I do this to stay motivated is to create pictures of those goals you have in your dreams and aspirations. Put those pictures on your wall or as your smartphone or computer background. And it's a big payoff once you hit that big goal.
The second reason is for you to know where you're going with the eCommerce business. If you have a roadmap laid out for the entire project, then you'll kind of have an endpoint at some point. You can just say that you're done with your project, and you're going to either outsource the functions, or you're going to sell it.
Every business should have an exit point. You either exit from the business and have other people run it or have a different business entirely and sell it to someone who wants to take it to the next level and run it. I've done this a couple of times already, where I exited businesses. It's a great feeling when you finally accomplish that because then you can take a break and relax. And this is where all the hard work kind of pays off.
The next phase is for you to know how to reward yourself when you accomplish those goals.
You can work really hard and get the big payoff and everything. But if you don't know what you want to do, what the point of working so hard in the first place? Have a nice car or a big house and a place you want to live in mind. All these things can make a big difference in your daily motivation.
You can have different timelines with the different goals you have. You can have your daily goal. You can always wake up in the morning and want to get one thing done that day. Set up a new website, research a new niche or a creative funnel. These can be done as a daily goal.
Then set up your weekly goals. You may want to achieve a certain sales number in a week or accomplish setting up a brand new website from start to finish or whatever you want. You can just make weekly goals instead of daily goals. So if you don't accomplish your goal in a week, that's okay. You just do it the next week. Then you can set up monthly goals, and that's always good. If you have a big project, maybe give yourself a whole month to do it. You know, it doesn't have to be just a day or a week. Set up quarterly goals.
Quarterly goals usually mean you're going to set up multiple goals, but with a bigger, broader goal that you want to accomplish. Usually, it has to do with the sales number or something like that. It is something you want to reach by the end of the quarter and quarters run every three months.
It's really important to look back when you hit the end of a quarter and see how you did that quarter. That will tell you how much work you did and what you accomplished from that work you did. And you'll know what kind of result you'll get in the future to get from that amount of effort so can plan accordingly in the future.
And then, of course, there are yearly goals. Yearly goals are usually set after New Year's Day. It's like your New Year's resolution. You can always look back on what you did that year and see if you reach that goal or not. I highly recommend doing something like that.
Always set high goals. If you don't achieve them, then that's no problem. Just put it off to the next week. But the bigger the goal you have, the harder you'll have to work to achieve that goal. So don't be afraid to set big goals.
You know, it's really good to have realistic goals and big goals at the same time, because you don't want just to have big goals. Having only big goals will get you burnt out, especially if you don't reach it. So I recommend setting small goals that are realistic with big goals alongside that.
There are different types of goals you can have. Some goals that I have are finishing research and planning a new phase on a new project. That can be within a day or a week.
You can also do that. You can have a goal where you want to finish a course and educational goal. And it can take about a week or a month. You can have a goal daily of what you want to create. Whatever your niches you're trying to serve, you can create blog posts. You can create also do a podcast episode. You can have a YouTube video or simply put new products up on your website. And that's an excellent goal to have, creating value.
You can have goals like monetary success, and that's a really good thing to have. Like every week, my goal is to make twenty thousand dollars in sales. And if I exceed that goal, that's awesome. If I don't, then I look back and see why I'm not achieving that goal. I check my marketing avenues and see how much traffic is coming from, where I need conversions made, and stuff like that.
That's really important number to have for me. With it, I'll know if I'm doing good work or not. But you shouldn't be too hard on yourself.
You should also keep in mind that if it's a physical product business, sometimes it can be seasonal. So some months will be lower than others. So you might not have to work hard in some months and have a blast on the other. There are some months when you won't get sales and have tons of sales in the other months. Just go with the flow and don't get burnt out too much.
Having monetary success goals is an excellent idea. With it, you at least have some sort of a way to focus on what you want in life, whatever that money can buy for you. Then have a goal of rewarding yourself. Have a goal of going to a country and see these sites and eat their local food. That's a goal. Once you achieve that, have a great time with it and document it. Reward yourself appropriately for working very hard.
Document stuff. You can create a video, which will be of value to other people. If you document a certain place you visited or reviewed a certain product you used, you create value for people out there. Sometimes there are not enough people doing that. And review videos are super helpful to people. They help people understand whether something is actually a good idea or not to do.
That was my podcast on setting goals, and it was a little bit shorter than usual. I just want to keep you all motivated. I want to let you know that it's imperative to have motivation daily and not get distracted by all little things in life.
Even if they are a little bit distracted. Always think in the back of your mind about the next project you want to create or the next thing you have to do in your project to finish it. Have an exit strategy in mind and reward yourself appropriately if you do accomplish these goals and objectives that you have. Don't try to shoot in the dark too much.
Get educated about what you want to do and then go and take action. Don't be afraid of what other people say about you, especially in the beginning. I recommend you don't.
Don't show your project off to other people too much because you might get people saying bad things about it, and then that might put you down. It's happened to me in the past. Try just to work really hard. Accomplish it and push it out there and then just focus on the people you're serving. Don't focus on showing your project to your peer group and asking them what they think about it too much, although it's a good idea to have a mastermind group.
You're not competing with them, but you don't want to focus on providing value for the people that you're trying to serve. So just focus on those people because those people will bring you money in the long run.
Don't focus too much on what your friends and peers say about what you're doing. If somebody asks you what you're doing and you tell them something, don't be put off by the fact that they don't know you're doing.
Just set your goals and be confident with yourself about it. Confidence will attract other people to want to learn more about what you're doing, which is exciting because once you mastered it, you can teach them. And that is another way to make an income online, being a teacher.
Set your goals, start accomplishing them, and have fun with it. Set big goals, set small goals, and let me know how it goes.
Drop me a line in the eCommerce Paradise Facebook group. Let me know what you think about it. Comment on this podcast or video, whichever you see and subscribe.
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Let us serve you along your journey and provide you lots of great content along the way.
Thanks a lot.
eCommerce Paradise was created by Trevor Fenner of Seattle, Washington in 2015 to help you, the entrepreneur, to start and scale your own eCommerce business selling high-ticket products online with the drop shipping fulfillment method so you can make more profit per sale, have a sustainable and evergreen online business, get started with very little upfront investment, and live a location independent lifestyle. Trevor owns multiple 7-figure High-Ticket Drop Shipping eCommerce stores and is a digital nomad, traveling the world while working remotely with the help of his team of over 10 virtual assistants from around the world. Trevor is currently located in Bali, Indonesia. Trevor is also a passionate skateboarder, surfer, scuba diver, photographer, environmentalist, outdoorsman, fitness and tattoo enthusiast.
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