153 | Coaching with Katie Hunt: How to Set Financial Goals for Your Business

Hey friends! You might know that you need to set financial goals for your business. But maybe you feel like you have absolutely no idea where to start. Maybe you feel overwhelmed even thinking about it? Whatever the case, if that sounds like you then you’re in for a treat with today’s live coaching session. I caught up with Paper Camp alumni, Jessica Baskin to give her the low-down on setting financial goals for your business.

Jessica got real about the financial mindset challenges she’s been facing and together, we broke them down. I offered her a few actionable steps she could take to get her more aligned with her numbers. We talked about how she could get clear on who she’s speaking to which would improve her marketing efforts (and in turn get her closer to those financial goals).

This conversation uncovered a few of the best practices for determining what your highest and best use products (or services) for your business. Of course, I also gave Jessica some homework around her financial goals where she’ll be taking a look at the good, better and best financial number goals. This is essential because if you know your goals, you know exactly what to aim for.

ON TODAY’S EPISODE:

How Jessica got into her business and started Joy Lark Studio
Jessica’s main goal that she wants to improve upon on in her business
The two ways that Katie advises companies to approach their finances when setting financial goals
Creating good, better and best number goals for yourself so you know what to aim for
Identifying the revenue streams that are the highest and best use for your business
Katie’s advice for Jessica about getting crystal clear on which audience to speak to first
Why your outreach strategy may be different depending on your audience
Making a marketing plan to help you hit your financial goals
Why you should have a backup plan for slower months of business to continue pushing toward your financial goals

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KEY TAKE AWAYS

“Little growth is how strong businesses are built because it gives us time to really think through what we're doing and make smart decisions.” - Katie Hunt

“I kind of just have this one number in mind and it just feels unreachable. It's nice to think of breaking it up into smaller chunks, checking off the good and then the better and hopefully the best as you build up.” - Jessica Baskin

“If you're a brand new business, I want you to make sure that you're basing these off of your monthly expenses because that's what you need to live.” - Katie Hunt

“We feel pressure and have these expectations to be on social every single day. That's 365 pieces of content that we have to create and push..” - Katie Hunt

“We need to be very proactive in our marketing plan. So I want you to really be strategic about how you're going to be approaching your buyers through the entire year.” - Katie Hunt

“In your back pocket, you should have a backup plan for how to bump your numbers up to what your goals are if you're finding that you're not making those numbers.” - Katie Hunt

“I find that when we try to do too much at one time, most people just like stopped doing everything because it paralyzes them.” - Katie Hunt

RESOURCES:
PTP Labs

CONNECT WITH JESSICA BASKIN:

Website: joylarkstudio.com | Facebook: @joylarkstudio | Instagram: @joylarkstudio | Twitter: @joylarkstudio

Connect with Katie Hunt

Katie Hunt is a business strategist, podcaster, mentor and mama to four. She helps product based businesses build profitable, sustainable companies through her conferences, courses and coaching programs.

Website: prooftoproduct.com | Instagram: @prooftoproduct