Do you know the fastest ways to earn the income you want?
Two ways: Keep it simple and know your numbers.
Let me explain..
Let’s say in 2020 you made $100K.
And in 2021, your goal is to hit $150K – a 50% increase.
A 50% increase may seem daunting so do this:
1. Back out your base. Let’s assume it’s $65K.
That means you must earn $85K in commissions.
Let’s assume you earn $1000/deal.
$85K in commissions/$1000 per deal= 85 accounts/year
That means you must close 85 accounts/year.
2. Calculate your activity. Let’s assume a 25% closing ratio.
85 accounts/.25 = 340 appointments/year.
Let’s assume a 90% show up rate.
(Assuming 10% just don’t show up)
340/0.90 = 378 appointments/year
3. Go simpler. Let’s assume 240 working days.
(48 working weeks and 5 day work weeks)
378 appointments/240 working days = 1.6 appts/day
Let’s just round up.
THEREFORE, if you run 2 appts/day..
Chances are good you’ll make $150K now!
Instead of focusing on increasing your income 50%..
Now focus on generating 2 appts/day that will LEAD to the increase!
If your 2021 income goal seems daunting..
Do the same exercise.
Know your numbers and keep it simple.
Do you agree?
P.S. Want help getting to the income you want? Send me a message.
#sellmoresellbetter #saleslife #sales