Today I wanted to talk about my income goals for the financial year. In terms of income my baseline goal is $60,000 but I have even bigger stretch goals.
Hi guys! Ryan here from Instructions Not Included. And today I want to talk about my income goals for the financial year. Yesterday was the very start of the financial year and I am not actually 100% sure how much I earned last financial year. But I do have some goals set for this coming year.
Now, in terms of income and profit, I have a baseline goal of $60,000 that I want to achieve and I think that is pretty easy to achieve for my business. I have a stretched goal of a $100,000 and I have what I am calling a super stretched goal of $120,000. But really, if I made over $104,000, that would mean that I made more than what I made when I was working for an employer. So that would be pretty exciting to be able to make that much.
How am I going to achieve this? Most of my income at the moment comes from my property website, On Property, where I teach people how to find positive cash flow propertiess in Australia. Basically I am going to continue to grow that by adding more and more content and just expanding that in terms of products.
I will be honing my products and making them better but it is unlikely that I am going to be creating significantly new products, maybe a couple of little ones here and there.
Then I have 2 other sites that I want to work on. I have Public Speaking Power which is actually changing to be called teachspeaking.com. I want to create a course for teachers to help them teach their students public speaking. So that is a product that I am looking to get out probably early in this financial year. And then later, maybe towards the end of the year, maybe next financial year, I really would like to launch a course for students that they could take to improve their public speaking skills.
So I have a few products that I want to put on there, some more content that I want to put on there to begin making money from Public Speaking Power. I would really like to diversify my income across different niches and also prove that the model that I have used in On Property, creating podcasts and transcriptions and products will actually work in Public Speaking Power as well.
Once that is achieved and Public Speaking Power is making decent money – it is making a little bit at the moment but not much, I would like to expand my other website which is podcastfast.com, launching an eBook in the next couple of weeks so that will be there taking along, making a tiny bit of money.
But if public speaking power is successful, I can prove that my model for making money through the way I do podcasting is successful well then I am keen to making a course in PodcastFast about how to set up a podcast, how to make money from your podcast and how to leverage your podcast like I have done with On Property and like I will have done with Public Speaking Power. So I will create a course over there on how you can do that and those are my plans for the year.
Things are going to change throughout the year, they never stay the same but I have my baseline income goal of $60,000. I have my stretched goal of $110,000 and my super stretch goal of $120,000 and I have a rough framework of how I think I can get there. I am just going to work towards that and everything I do is to generate passive income, semi-passive income. So after I create the content, it generates traffic over and over. After I create the products, it generates sales over and over. I do not have to do a lot of ongoing maintenance on these websites, on these products and stuff like that.
So that is what I am going to do. I will talk more about how I create products in a future episode but I just want to share my income goals in this episode.
So that is it for today. If you want instructions, go and buy some furniture.
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