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After setting a revenue goal for your business, the next question on your mind might be, “How do I actually reach my goal?” If that’s you, then you’ll love this episode! In it, I dive even deeper into the actual math behind your revenue goal using real numbers to help you determine what to sell, at what price point, and to how many clients or customers.

On this episode of Promote Yourself to CEO:

3:26 - I explain why figuring out how to hit your revenue goals can get a little tricky, especially if you follow so-called guru advice.

10:11 - You have to understand your sales conversion rate which varies based on what you’re selling, to who, and at what price point.

12:26 - What kind of sales call conversion rate do I see among people, even those without much sales experience?

14:53 - Let’s take a look at conversion rates of some other popular promotional methods.

22:56 - How do I know that the price point advice too many “gurus” give to entrepreneurs isn’t necessarily based on any real data?

27:39 - I discuss the biggest problems I see with offering a one-session service and my minimum price point recommendation for your signature offer.

31:39 - Here’s how building a baseline revenue with a higher-end offer can help you grow your income down the line, without sacrificing your time or salary.

34:55 - Remember this about each product, program, or service you create for your business.

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Connect with Me:

• Instagram: @racheal.cook
• TikTok: @rachealcookmba
• LinkedIn: @rachealcook
• YouTube: @the_ceo_collective
• Website: The CEO Collective

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There’s a tale that’s rarely told in the business world. It’s a tale of two companies. Both make seven figures annually. But the business owners behind them receive a vastly different amount of money as actual take-home pay.

What happens once money comes into a business? Where does it go from there? The lack of real disclosure on this in online entrepreneurial circles has led to lots of people focusing solely on revenue goals, not their business’ actual profitability.

So in this episode, I break it all down, talk some numbers, and tell you exactly what it means to have a six-figure take home income, not just a six-figure business.

On this episode of Promote Yourself to CEO:

3:29 - How much time do you have to invest in your business? Here’s how to take a look at your situation to see what works best for you.

7:16 - How much energy do you have available to you? And what do you need to do to maintain it?

9:48 - Instead of pulling a revenue goal out of thin air, ask yourself this question. I reveal the right way to come up with your number and a free resource you can use.

14:28 - I briefly mention why defaulting to your last salary as your revenue goal won’t work.

15:55 - I talk about what goes into running a business, how to use that information to reverse engineer your target, and a super simple way to figure out your revenue goal.

23:46 - Setting aside a little bit of your profits every month really starts to change the game and your perspective. I break down some percentages in detail.

31:08 - I look at the math behind a $100,000 annual revenue goal and how much you really need to earn to make that your take-home pay.

36:27 - How much tax are you going to pay at this point? This is where you’ll want to get yourself a good CPA.

39:10 - Before wrapping up, I go over the biggest piece of misinformation about growing a bigger business. It stops many from setting a higher revenue goal.

Show Links

• Get Paid Calculator

Connect with Me:

• Instagram: @racheal.cook
• TikTok: @rachealcookmba
• LinkedIn: @rachealcook
• YouTube: @the_ceo_collective
• Website: The CEO Collective

Subscribe & Review:

If you loved this episode, please take a moment to subscribe and leave a review on Apple Podcasts!

🎤 Thanks for listening! I'll see you next week!

Send us a text

You’ve seen the hype about small business and entrepreneurial success out there. It’s unreal! Not a day goes by when I don’t see photos of fancy cars, vacations, oodles of cash, and the typical success catch phrases that come with them on my social media.

Here’s the conundrum, though: when your business crosses into the territory of making seven or eight figures, it can quickly become less about doing what you love and more about grinding things out as an entrepreneur to meet demand.

So does bigger actually mean better for you? Or is big enough... enough? In today’s episode, I talk about why I believe in creating a big enough business to create an actual business and life you love.

On this episode of Promote Yourself to CEO:

5:54 - I discuss what it was like growing up around entrepreneurs, and the surprising information I recently learned from my mother.

8:16 - Why should you beware of creating a business that grows too fast? I tell you what I’ve seen from businesses that experienced hyper growth.

10:02 - I retell a parable about a CEO and a fisherman that illustrates my point.

12:47 - I describe the time I was at a crossroads when I first heard the parable and the realization I came to after some reflection.

15:30 - The big questions I want you to ask about your revenue goals, and defining a Big Enough Business, the kind that loves you back.

17:10 - An early lesson in my business that serves as an example of why NOT to model your version of success after someone else.

20:05 - An example of what my "Big Enough Business" looks like and why it serves me in creating a business and life I love.

23:55 - How being intentional allows me to succeed without sacrificing my life and without causing me to be in a constant state of emergency in my business.

25:20 - How a big enough business allows you to live in your business sweet spot, and stop dreading Monday morning.

27:50 - How a big enough business and building a business and life you love will mean you must know your non-negotiables.

29:40 - Does focusing on a big enough business, mean you lack ambition?

34:00 - The questions I want you to ask to define your big enough business.

Show Links

• The CEO Collective
• Racheal on Instagram

Connect with Me:

• Instagram: @racheal.cook
• TikTok: @rachealcookmba
• LinkedIn: @rachealcook
• YouTube: @the_ceo_collective
• Website: The CEO Collective

Subscribe & Review:

If you loved this episode, please take a moment to subscribe and leave a review on Apple Podcasts!

🎤 Thanks for listening! I'll see you next week!