How I will Make a $10,000 New Year’s Resolution A Reality
As i write this, the New Year is only a few hours away! This is the time of year everyone sets resolutions and goals. But lets face it, most people don’t accomplish them. Its important that the your new years resolution’s are realistic and achievable. Otherwise you will just forget about them by February 1st and your resolution is worthless.
In 2016, one of my goals is to make an additional $10,000 per year in profit (not gross sales). But simply saying it is not enough. I have to figure out HOW im going to make this happen. $10,000 is decent amount of money and its a pretty intimidating number to just pull out of thin air. So its important that i break it down into smaller chunks. That way a large problem becomes smaller. $10,000 per year is really $833.33 a month. $833.33 is far less frightening and seems way more possible. But that’s not enough, I have 365 days to do this, so it only makes sense to break it down by the day. $10K a year is only about $27.40 per day. That’s only like a large pizza and a tip to the delivery driver. Now that’s a number i can work with!
In addition to Amazon FBA, i also sell print on demand products like t shirts, sweatshirts and phones cases through niche shopify stores. I like it because i use facebook and google ads, so the process is 99% automated. I run the ads, the ads sell the products and the screen printer makes and fulfills orders. It does not take up too much of my most valuable asset which is TIME. Once i find a converting ad for a shirt or phone case all ill need to do is run the ad and place the orders with the screen printer, so i can focus most of my energy on Amazon and other ventures.
I am about to geek out on you, so stick with me here!
Back to the $27.40 per day. How am i going to accomplish this? Well, I sell t shirts for $21.99 and they cost me around $11 to fulfill in small quantities and about $9 in larger quantities. It cost me about $3 to acquire a customer and shopify is $30 per month or $1 per day. My acquisition cost is much lower than the average person because I recover abandoned shopping carts and sales from customers who visit on of my sites and do not make the purchase (More on recovering lost sales in another article). So we have a $21.99 shirt minus the $3 acquisition and the $10 average fulfillment leaves me with about $7 profit per shirt. That’s only about 4.5 shirts per day with money left over for my shopify fees. Now that is accomplishable! In fact 4.5 shirts are far too easy to sell, i think ill make it $50,000 ;)
I encourage you to set a goal this year and break it down into actionable steps. Maybe you want to lose 50 lbs, quit smoking or make more money. Whatever your resolution is be sure to set goals break them down, stay accountable and accomplish them. Do not set empty goals without a direct plan of action. Lets make 2016 count! I wish the best in health, spirit and business for you in 2016.
HAPPY NEW YEAR!
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