COST IT: Now you calculate what will this dream life cost you. Get very specific on your figures and then add the total of the cost of living your dream to your general budget. You’ll need to account for taxes and expenses, and know your profit margin. If you are able to be, do and have all you desire (and let’s be real, no gold plated yachts please!), what would it cost you?
Let’s take an example. Caroline calculated that her dream life would cost her £200,000. Her business has a 20% profit margin so needs a million pound turnover. That seemed like an enormous sum until we started to break it down.
Caroline knew that her average customer would spend around £6,000 per year. This meant she’d need 166 customers to fund her dream life. The good news is, she already has 66, so she needs 100 new customers this year. Now her dream life is starting to look achievable.
“What would need to happen in order to….?”
PLAN IT: When Caroline has an appointment with a potential client, she knows she’ll usually win business from She has a conversion rate of 1 in 2. So to win 2 customers a week required 4 meetings. Because she knows her figures, she realises that she needs 8 leads a week.
Asking the question “what would need to happen in order to…?”, now helps her decide on her course of action. How can she generate 8 leads a week?