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Setting and Revising Your Financial Goals
Manage episode 317703837 series 2426383
Each year we go through a process of setting our financial goals for the following year, or at least we should. And I don’t use the “should” word without consideration. Many of us hate to be told what to do, so my hope is that in this podcast you understand the why behind it and you decide for yourself that you ‘should’ create financial goals.
Topics Mentioned:Metrics
Financial goals
Top-down
Bottom-up
Taking the time to really understand my financials was a life and business saver for me – and it can be for you. Michele (2:27)
Top-down financials allows you to begin with the total sales or revenue you want to bring in. When we use this method, often we are comparing it to the prior year and choosing either a number or a percentage increase. Michele (3:03)
Bottom up starts with defining out the net profit and how it will be used. Many start by creating their salary first, then taxes and company profit, bonuses, etc. and adding all that up. Michele (4:56)
Creating this high-level financial set of goals will allow you to do other financial tasks to truly take control of your numbers. Michele (7:45)
Contact Michele:
Facebook: Scarlet Thread Consulting
Instagram: @ScarletThreadATL
Website: ScarletThreadConsulting.com
LinkedIn: Michele Williams
References and Resources:
AIM Masterclass - Watch now
A Well-Designed Business by Luann Niagara & Friends
Backwards Financials For the Win Ep 11 with Tracie Taylor
103 bölüm
Manage episode 317703837 series 2426383
Each year we go through a process of setting our financial goals for the following year, or at least we should. And I don’t use the “should” word without consideration. Many of us hate to be told what to do, so my hope is that in this podcast you understand the why behind it and you decide for yourself that you ‘should’ create financial goals.
Topics Mentioned:Metrics
Financial goals
Top-down
Bottom-up
Taking the time to really understand my financials was a life and business saver for me – and it can be for you. Michele (2:27)
Top-down financials allows you to begin with the total sales or revenue you want to bring in. When we use this method, often we are comparing it to the prior year and choosing either a number or a percentage increase. Michele (3:03)
Bottom up starts with defining out the net profit and how it will be used. Many start by creating their salary first, then taxes and company profit, bonuses, etc. and adding all that up. Michele (4:56)
Creating this high-level financial set of goals will allow you to do other financial tasks to truly take control of your numbers. Michele (7:45)
Contact Michele:
Facebook: Scarlet Thread Consulting
Instagram: @ScarletThreadATL
Website: ScarletThreadConsulting.com
LinkedIn: Michele Williams
References and Resources:
AIM Masterclass - Watch now
A Well-Designed Business by Luann Niagara & Friends
Backwards Financials For the Win Ep 11 with Tracie Taylor
103 bölüm
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