As 2021 comes to a close, I know so many of us are turning to 2022. Setting goals. Making resolutions. Dreaming of creating bigger, better flower businesses.
Setting sales targets in your flower business is part of this – and I know many of you are gonna roll your eyes and tell me numbers aren't your thing.
And here's the thing, most financial planners, biz wiz people are gonna overcomplicate this and make business planning an epically overwhelming and hard exercise...which is awesome for them because it validates their existence...but not so awesome for you, right?
You're after business tips that are easy? Super simple? Straightforward? No fluff?
You're in the right place, my friend!
When it comes to setting sales targets in your flower business, I like to follow a super simple approach.
(Heads up: I am not a financial advisor, accountant or lawyer. Go out there and seek personalised custom advice...but also know this formula is HELPFUL to get you started!)
Keeping Things Simple
Most floral designers go about building their business backwards – we say yes to whatever comes our way in the hopes that (a) "one day" we'll be able to create the work we want to create and (b) everything will just magically fall into line and we'll start making more money.
That's how I used to approach my business.
Until I realised that approach is a little bit like wanting to go on a holiday but then booking a hotel for Melbourne in May, hiring a car in Sweden in September and paying for discounted airfare to New York in November.
For most of us, when we plan a trip, the first question we ask is: where are we going? That's precisely the same question you need to ask in your business.
Setting a sales target in your flower business is like identifying a North Star. It brings everything into focus and requires you to set your sights higher, level up and take massive action.
This one exercise is when you finally start to see that a handful of $60 bouquets isn't going to cut it. Or those $500 wedding enquiries aren't enough.
If you don't know where you're going, any path will get you there.
– Lewis Carroll, Alice in Wonderland
Setting a sales target in your flower business shows you how small you've been thinking and shows you where you're allowing fear to hold you back.
And my super simple approach to setting a sales target shows you just how big you get to dream, brings up all the fear and doubt and requires you to embrace the discomfort of growth (which is the real secret to creating your dream flower business).
How To: Setting Sales Targets in Your Flower Business
Are you ready? It's time to grab that calculator my friend.
Take your personal income goal (i.e. how much you, as a human, want to bring home to live your life) and multiply that number by 5.
personal income x 5 = annual revenue target
Now, it's not a perfect solution but it does give you guidance on how big you need to be thinking.
For most of us (myself included), we tend to think way too small. But to create a profitable flower business and make more money, one of the biggest lessons to learn is to set your sights higher.
And, this one little bit of math does just that – when I do this with my students, it usually brings up those waves of nausea, fear, hesitation, uncertainty (um, yeah...you know all the negative emotions that we want to avoid?).
But that is part of the magic of this formula. It shows you just how small you've been thinking.
Your Actions Need to Match Your Ambitions
Building a profitable business, setting sales targets in your flower business, requires you to step up. To embrace the discomfort and push yourself out of your comfort zone.
But, because you're human, that is going to bring up all sorts of emotions. For most of us, we use that negative emotion as a reason to stop.
- You feel afraid, so you stop taking action
- You don't feel confident, so you talk yourself out of putting yourself out there
- You feel a tiny, itty bitty sense of resistance and you immediately assume something has gone wrong. You should stop.
What I wished someone had told me years ago is that this experience, that negative emotion, is normal. Particularly when you own a business.
It is part of the human experience. Nothing has gone wrong. You are not broken.
You are a human being with a human brain. And your human brain is programmed to keep you safe. It wants you to stay in the cave, which often means keep playing small, staying small and not putting ourselves in harm's way. Ever.
Except, the experience of business, the day to day reality of building a business requires you to do the opposite.
Creating bigger, better results in your business requires you to take bigger, better action. And that means embracing the discomfort of trying new things.
That's why I love this super simple approach to setting sales targets in your flower business – it brings up all the fear, doubt, and uncertainty.
Your job is to then work through, overcome, the fear, doubt and uncertainty and take action despite feeling afraid.
And yes, setting sales targets in your flower business is as easy as 1-2-3:
Step 1: identify your personal income goal
Step 2: multiply it by 5 to get your business' annual revenue goal
Step 3: level up your mindset to make it happen, so your actions match your ambitions
Making it Work
This one exercise, identifying a sales target, has helped so many of my Flower Boss Bootcamp graduates fast track their progress. It's such a simple bit of math but creates massive results.
It makes your goal concrete, measurable and gives you guidance on how big to dream. It's so awesome the immediate mindset shifts that can be created from this one little bit of math!
It's why we've created this super simple calculator – play around with the numbers and experiment with different goals. Then you can get to work baby!