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The $100 MBA Show

MBA1754 How To Set Revenue Goals That Work

The $100 MBA Show

Omar Zenhom

Careers, Entrepreneurship, Business, Marketing

4.91.2K Ratings

🗓️ 30 March 2021

⏱️ 8 minutes

🧾️ Download transcript

Summary

How much do you need to bring in? It seems like a pretty basic question for a business owner. But many entrepreneurs aren't really sure how to answer it. Revenue - not profit - is a tricky subject. How much you need depends on a few key factors.

Transcript

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0:00.0

Heyo! Welcome to the $100 B. A show short short and sweet, and to the point every single day with our daily

0:15.4

10 minute business lessons for the real world.

0:18.4

I'm your host, your coach, your teacher Omar is at home.

0:21.5

I'm also the co-founder of Webinar Ninja, an independent software company.

0:25.1

I started with my partner back in 2014. And in today's lesson, you will learn how to set

0:30.5

revenue goals that work. We all know we want to grow, we want to make more money,

0:35.9

but how much more? How do you set yourself up and set goals that make sense and grow with you? This is a challenge for a lot of entrepreneurs

0:44.7

knowing exactly how much to shoot for given their industry, their market, and their

0:50.7

business in particular. We'll also talk about how to set revenue goals in relations

0:54.6

to profit because at the end of the day you want to know how much money you're actually putting

0:58.5

in your pocket. As well as how do you make sure you're on track and you're measuring as you go along.

1:05.0

We get into all that and more so let's get into it.

1:08.0

Let's get down to business.

1:10.0

Money, money, money, right? We all want to make more money, we want more money coming into our business, and that's why we set revenue goals. We want to push ourselves to reach a level of success monetarily with our business as we move forward in our business every

1:26.3

single day, every single month, every single year.

1:29.0

But I want to stop for a second and I want to question why do you want to make more money? Okay I know that sounds strange but yes we need to understand why do we make more money.

1:38.8

Well most of us want to make more money because we feel like we make more money will keep more money.

1:43.6

Well that's not necessarily true. If your business is has a problem with spending

1:49.1

it has a problem with spending money or money that you don't have yet. A lot of businesses to do this, the

1:54.9

overspend, their expenses, their P&L sheet is lopsided. Their losses are a lot more

2:01.9

than their profits.

2:04.1

So I want you to see your revenue goals in relation to profit.

...

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