Jun

4

What’s Your Yearly Sales Goal?

Filed Under Money, Planning 

How do you determine how many gift baskets you can sell in a year? That’s what a designer asked me during a recent mentoring session. She works alone, and she also works full time for someone else.

I suggested that she work backwards to determine the sales number, and perhaps this method will work for you, too.

  • How much gross income do you want to achieve this year? Think realistically, then break that number down into a monthly amount.

  • Use $40 or $50 per basket as the average price you can sell (or use the per-basket price that has sold best for you).

  • Determine, from the monthly income number, how many gift baskets you’ll have to sell to achieve your goal.

    • Example:
    You want to gross $100,000 in 2008.
    $100,000 divided by 12 is $8,334 per month.
    $8,334 divided by 4 weeks is $2,084 per week.
    At $40 per basket, you must sell 52 baskets per week.
    At $50 per basket, you must sell 42 baskets per week.

    This is a basic method to set your sales goal. Adjust the gross figure as needed. Working full time for another company may also impact on sales. If you will have difficulty selling a certain number of baskets due to time constraints, perhaps it’s time to find more high-end corporate accounts. Use your networking skills to find these lucrative clients.

    Breaking down your sales goal into smaller parts will bring you closer to a realistic strategy for success.

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