The Psychology of Setting and
Achieving Holiday Profit Goals
Setting goals for your business is not just a great
motivator but it can also be an indicator of your performance and even a course corrector when you veer off
course. Performance goals for the holidays or for ay fiscal quarter (three consecutive months of earnings for
any business) should be based on numbers from the last holiday season and/or the last fiscal
If you are a new business or new to online selling you can
use your competitor’s past numbers. It might be a bit tricky getting a hold of these numbers though so you
might have to do with some general monetary indicators in such cases.
Setting goals for yourself no matter how big or small your
venture is only going to motivate you. Setting these motivational goals realistically will help you
troubleshoot your plan along the way and for the next holiday.
In order to set these performance markers you should start
by assessing how you did last holiday or if you are a beginner how did others in your niche do. Setting
performance goals is just not about knowing the bottom line or how much money was made because you also need
best selling products were?
units were sold of what items? Vs. what items got you the maximum
sold out fast (if applicable to your niche)?
of your traffic came from? This includes search engine traffic, blog traffic, paid traffic etc. This
will help you strengthen your areas of weakness for the upcoming holiday
or specials reaped the most rewards?
day and/or week did you make the most sales? And why?
customer service hiccups that put a damper on your performance and
your production or start up costs (if applicable)
your over – head for that particular holiday? This includes utility bills, salaries, bonuses and any
other business expenses
If you can
sit down and get these figures in an excel sheet in front, then you should be able to realistically
project sales. Thus, setting achievable performance goals, not just to improve your bottom line, but to
improve your business model as a whole. Making it more competent as an assembly of moving
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