Wouldn't it be a whole lot easier to just roll with the flow? Take that position at the local manufacturing plant and live the stress free life and patiently await retirement, which is now age 73 for todays up and coming younger generation.
Why Set Goals?
Because setting goals is the fastest way to steer a course towards sucess! Besides, if you don't know where you are headed, how will you know when you get there? I guess I could expend a lot of keystrokes on old cliches but I'll spare us both.
Lets make this simple.... Which of the following would you prefer?
A. 1 Million Dollars in the bank after taxes
B. $10,000 a month on a continuing basis.
Now if you've chosen (A) you have set yourself upon a daunting task. With enough initial enthusiasm, capital and the right business vehicle I'm sure you'll be able to attain that goal.
But what does a 1 million dollars really represent?
Most financial planners would advise that you invest it into a diversified portfolio of financial insturments such as CD's, Equities, Cash, etc.. all of this advice would be geared towards one end. To get you the highest monthly yield possible from that 1 million dollars.
Now lets look at what kind of yield that 1 million dollars might represent at various interest rates:
Principal Annual Rate Monthly Rate Monthly Revenue
$1,000,000 3% .03/12 = .25% (1,000,000*.0025) = $2,500
$1,000,000 6% .06/12 = .5% (1,000,000*.005) = $5,000$1,000,000 12% .12/12 = .1% (1,000,000*.01) = $10,000
That sure is a big difference!
Now in todays low interest rate climate you may be able to work some financial wizardry and parlay that 1 million into a decent monthly revenue stream. But.....
Wouldn't it be easier to just shoot for the monthly revenue stream in the first place and be insulated from the vagaries that fluctuating stock prices and interest rates bring? Besides, by picking A, you've really picked an interim goal and with that comes all the machinations necessary to get the million bucks in the first place.
B or some other value of B is ultimately that for which one strives. So.....
Lets take a look at what would be required to get to a monthly income stream of $10,000. Which is $120,000 a year income for those of you that are still math impaired.
Well, there's the old tried and true method of go to school, get a good education, go to college, get a good job get some seniority and be patient. By the time you are 70 you may finally achieve that sort of salary.... opps... sorry... you'll be retiring next year and that monthly income will be cut drastically. Hmmmmmmm. If you are already 40 or 50 you may already be on this route and want to find a faster alternative! And if you are younger... well... how much is college tuition again?
What to do, what to do?
Enter the magic world of subscription services. Todays world of digital communications and the plethora of websites trying to sell someone something has opened a world of opportunities for someone with a dream of sucess, the ability to see the vision, the right tools to effectively harness the opportunities that currently abound, and the motivation to bring all of the aforementioned to bear on achieving the goal.
Let's take a look at the ProspectCapture™ Subscription Service
The ProspectCapture™ Customer Service Response module can be the product that serves as the vehicle of your sucess. There's nothing to buy and nothing to risk but a little bit of your time.
Shall we begin?
Truthfully... someone should already be or have been chatting with you by the time you get this far into the site. If you haven't been greeted by one of our courteour Representatives by now, then it means even the most devout Customer Service Rep/Salesman likes to occassionally sleep. But that's the beauty of the system, you can work actively promoting the ProspectCapture Customer Service Response module when you choose or simply let ProspectCapture site work for you!
The Basics
If you are planning on building a business, any business, you should know how to appropriately value what you are about to create. Typically the value of a business is on the order of 8 times its annual earnings plus buildings, equipment, inventory, etc. With the ProspectCapture system there is no need for buildings or inventory and the equipment is simply an internet enabled computer. Since this amount is small, it stands to reason that the value of your business is primarily a product of the subscription price charged for the service.
Here's a very simple example:
|
No. Subscriptions
Monthly Revenue per Subscription
Annual Subscription Revenue
PE Ratio
Total Business Worth |
100
$ 17.00
$ 20,400.00
8.00
$163,200.00 |
Don't you just love numbers in black! I specifically used the very conservative PE Ratio of 8.00 to highlight how easily the product of your work translates into a price tag that you could place on your business if you wished to sell it.
Here we've increased the number of Subscriptions and the PE Ratio:
|
No. Subscriptions
Monthly Revenue per Subscription
Annual Subscription Revenue
PE Ratio
Total Business Worth |
1000
$ 17.00
$ 204,000.00
12.00
$2,488,000.00 |
Lets take a look at the big picture
A single sale represents not only 17.00 in immediate cash, but a paper value increase in the value of your business. 100 subscriptions in a single year will net you a healthy cash flow but the real increase in your wealth resides in how much more valuable your business has become. When we use the conservative figures of our first example, each subscription increases the value of your business by $1,632.00 = ((Monthly Commission x 12) x PE Multiple))
Let's assume that you worked 40 hours a week marketing the product, you don't need to but lets assume! How much are you making per hour if you achieve the goal of 100 subscriptions in a year?
We know that the increase in the value of your business = $163,200 and that there are 2080 hours in a work year. Therefore you are increasing the value of your business at the rate of $78.46 for every hour you worked over the year. In addition, you would have recieved your monthly commission checks.
Well... I guess that about wraps up my quick overview on what constitutes a goal and how sometimes the brass ring is not always readily apparent. People have the power to achieve their goals, so make sure you set your goals with your eyes wide open and are shooting for what you really want.
In any business you will be faced with decisions for as long as you remain a businessman. Since this little dissertation is both a tutorial on business practices as well as a pitch for you to join our team here at ProspectCapture™ I sincerely hope that you will decide to join our team!
